SHENZHEN, China, Aug. 13 /Xinhua-PRNewswire-FirstCall/ -- China Water & Drinks, Inc. (OTC Bulletin Board: CWDK) ("China Water & Drinks" or "the Company"), a leading producer and distributor of bottled water in the People's Republic of China ("PRC"), today announced that it has appointed Dr. Cheung Wai Bun as an independent director on China Water & Drinks' Board of Directors where he will serve as the Chairman of the audit committee.
Dr. Cheung has over 30 years experience at the senior management level in various industries including over 22 years experience in the banking industry. Dr. Cheung served as the Chief Executive and Executive Deputy Chairman of Mission Hills Group, a Hong Kong company from Oct. 1995 to May 2007, and was a former Director and Adviser of the Tung Wah Group of Hospitals. He is an independent non-executive Director and Chairman of the Audit Committees for GEG, Shanghai Electric Group Company Limited, Pioneer Global Group Limited and Prime Investments Holdings Limited, all of which are listed on the Hong Kong Stock Exchange. Dr. Cheung is also a Senior Adviser of the Metropolitan Bank & Trust Company in the Philippines and a Vice Chairman of Guangdong Province Golf Association. In addition, he is a Council Member of The Hong Kong Institute of Directors, and was honored with the Director of the Year Award in 2002. Dr. Cheung holds an honorary doctorate from John Dewey University, a master's degree in business administration and a Bachelor of Science degree from New York University.
"Dr. Cheung's familiarity with the capital markets and depth of experience in corporate finance and business management will bring tremendous value to China Water & Drinks," commented Mr. Xing Hua Chen, Chief Executive Officer of China Water & Drinks. "We look forward to working with him as we continue our efforts to become a leading bottled water company in China. We plan to enhance our corporate governance further in the coming months."
About China Water & Drinks, Inc.
China Water and Drinks, Inc. is a leading producer and distributor of bottled water in China. Through its production facilities in Guangzhou, Zhangjiang, Feixian, Nanning and Changchun, the Company produces and distributes bottled water to 11 provinces in China. The Company markets its own product under the brand 'Darcunk', supplies purified water to both local and international beverage brands such as Coca-Cola and Uni-President and provides private label bottled water for companies such as Sands Casino, Macau.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to the company's ability to complete product orders, coordinate product design with its customers, ability to expand and grow its distribution channels, political and economic factors in the People's Republic of China, the company's ability to find attractive acquisition candidates, dependence on a limited number of larger customers and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact
Danny Tsai
China Water & Drinks, Inc.
Tel: +1-949-528-2815
Leslie Richardson, Financial Writer
CCG Elite Investor Relations
Tel: +1-310-231-8600 x 122
Email: leslie.richardson@ccgir.com
Crocker Coulson, President
CCG Elite Investor Relations
Email: crocker.coulson@ccgir.com
