Sungy Mobile Announces Strategic Corporate Restructuring

Sungy Mobile Limited GOMO, a leading provider of mobile internet products and services globally with a focus on applications and mobile platform development ("Sungy Mobile" or the "Company"), today announced a corporate restructuring plan to reallocate resources towards strengthening and expanding its flagship GOSeries platform of applications. As part of the restructuring initiative, the Company expects to complete a reduction in its workforce of approximately 100 employees associated with its portal business or approximately 12% of its overall workforce by the end of October 2014. The Company believes that, by refocusing on its core growth areas and improving its operational efficiency, it will strengthen its portfolio of mobile products and acquire additional resources to further expand its overall mobile platform. Mr. Yuqiang Deng, chief executive officer of Sungy Mobile, stated, "Following our second quarter announcement, we continue to strategically realign our attention and resources towards strengthening our mobile applications platform, primarily our GOSeries portfolio. We believe that this corporate restructuring plan will enable us to more efficiently allocate resources towards the expansion of our mobile business both organically and through strategic acquisitions and enable us to continue to leverage and monetize our large user base. Going forward, we remain committed to maximizing value for our shareholders and expanding our product platform with high quality and popular mobile applications."