CHANGSHU, China, January 14, 2016 /PRNewswire/ -- Sutor Technology Group Limited (the "Company" or "Sutor") (Nasdaq: TOR), one of the leading China-based manufacturers and customized service providers for fine finished steel products used by a variety of downstream applications, announced that its Board of Directors had approved and appointed a new independent director, Mr. Hui Sheng, as a member of the Audit, Compensation Committee and the Chair of the Governance and Nominating Committee of the Company on January 11, 2016.
Mr. Sheng, one of the founders of Shanghai Guandian Electronic Commerce Company Limited, has rich experience in e-commerce operations. Before Shanghai Guandian, he served as the E-business Operating Director in a well-known global bulk commodity process distribution company for many years, where he was responsible for online marketing and market development strategy. Mr. Sheng graduated from Nanjing University and majored in computer science.
Ms. Lifang Chen, Chairwoman and CEO of Sutor commented, "Mr. Xinchuang Li was an integral part of Sutor's growth and success, I want to thank Xinchuang for his many contributions to Sutor over the past eight years and wish him great success in the future. We are also very delighted to welcome Mr. Hui Sheng to the board who brings with him a fresh perspective and rich e-commerce experience. We believe Mr. Sheng's deep knowledge and experience in e-commerce will help our company to fulfill our business transformation objectives and accelerate our transition into a diversified industrial technology and online-to-offline services provider."
About Sutor Technology Group Ltd
Sutor is one of the leading China-based manufacturers and customized service providers for high-end fine finished steel products and welded steel pipes used by a variety of downstream applications. The Company utilizes a variety of in-house developed processes and technologies to convert steel manufactured by third parties into fine finished steel products, including hot-dip galvanized steel, pre-painted galvanized steel, acid-pickled steel, cold-rolled steel and welded steel pipe products. The Company also provides fee-based steel processing services to customers, including industrial peers. To learn more about the Company, please visit http://www.sutorcn.com/en/index.php .
Forward-Looking Statements
This press release includes certain statements that are not descriptions of historical facts, but are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, those concerning our expected financial performance, liquidity and strategic and operational plans, our future operating results, our ability to fulfill our business objectives, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause our actual results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and uncertainties include, but not limited to, the factors mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended June 30, 2014, and other risks mentioned in our other reports filed with the Securities Exchange Commission ("SEC"). Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.
For more information, please contact:
Investor Relations
Sutor Technology Group Limited
Tel: +86-512-5268-0988
Email: investor_relations@sutorcn.com
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