HARBIN, China, December 16, 2015 /PRNewswire/ -- China XD Plastics Company Limited (NASDAQ: CXDC) ("China XD Plastics" or the "Company"), one of China's leading specialty chemical companies engaged in the development, manufacture and sale of polymer composite materials primarily for automotive applications, today announced that it recently held a ceremony for the Heilongjing Hope Project Xinda Scholarship and hosted its Eighth Seminar on Polymer Materials Development at the Harbin Institute Of Technology. The two events complemented each other as their undertakings and achievements advance the development of the polymer materials industry in China.
"The Heilongjing Hope Project Xinda Scholarship represents funding for both undergraduate, master and doctoral students at the Harbin Institute of Technology and other universities included in the 211 Project, an initiative targeting 100 institutions of higher education in China to receive preferential support for development in order to become world-class universities in the 21st century. We are especially supportive of this program since they include universities that engage in polymer materials studies throughout China," said Jie Han, Chairman and Chief Executive Officer. "We are proud to fulfill this commitment to be able to give back to the community as our educational programs are an important component of our corporate social responsibility agenda. It is consistent with our corporate mission to 'Improve the World with Technology' which also speaks to our principle of advancing environmental safety and a better low-carbon future."
The two events, held on December 3, 2015, included China XD Plastics' Eighth Seminar on Polymer Materials Development. Professor Xigao Jian, a member of the Chinese Academy of Engineering from the Dalian University of Technology, and other industry experts gave presentations about the current state of the polymer materials industry and ongoing trends. A central seminar theme concerned the future direction of the polymer materials industry and ways to accelerate the commercialization of research and development work. The seminar's goals, held annually, are to promote the development of polymer materials industry through the application of new technologies and new products, as well as to encourage new platforms for creative thinking.
The honored guests at the two events included China XD Plastics' senior executives, the Heilongjiang Xinda Charitable Foundation, the Heilongjiang Youth Development Foundation, executives from the Harbin Institute of Technology Development Foundation, Professor Xigao Jian, a member of the Chinese Academy of Engineering from the Dalian University of Technology, and more than 30 representatives from China's top scientific research institutes such as Tsinghua University, Jilin University, Sichuan University, East China University of Science and Technology and the Harbin Institute of Technology.
About Harbin Institute of Technology
Harbin Institute of Technology ("HIT") is a large, nationally renowned multi-disciplinary university with science, engineering and research as its core. HIT has 21 schools/departments attended by 42,695 full-time students and it employs 2,944 full-time teachers, including 22 academicians of the Chinese Academy of Sciences and the Chinese Academy of Engineering. HIT is consistently on the forefront in making innovations in research, and in undertaking large-scale and highly sophisticated national projects. HIT's ability for scientific research is among the strongest of all the universities in China. HIT was among the first group of universities to be included in Project 211 which targets 100 institutions of higher education in China to receive preferential support for development in order to become world-class universities in the 21st century.
About China XD Plastics Company Limited
China XD Plastics Company Limited, through its wholly-owned subsidiaries (the "Company"), develops, manufactures and sells polymer composite materials, primarily for automotive applications. The Company's products are used in the exterior and interior trim and in the functional components of 24 automobile brands manufactured in China, including AUDI, BMW, Toyota, Buick, Mazda, and VW Passat, Golf, and Jetta. The Company's wholly-owned research center is dedicated to the research and development of polymer composite materials, and benefits from its cooperation with well-known scientists from prestigious universities in China. As of Sept 30, 2015, 350 of the Company's products have been certified for use by one or more of the automobile manufacturers in China. For more information please visit http://www.chinaxd.net.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's growth potential in international markets; the effectiveness and profitability of the Company's product diversification strategy; the impact of the Company's product mix shift to more advanced products and related pricing policies; the volatility of the Company's operating results and financial condition; the Company's ability to raise additional capital to finance the Company's activities; the Company's and its subsidiaries' ability to fully perform all of their obligations under the guaranteed senior notes transaction and other contractual obligations applicable to them; the effectiveness, profitability, and the marketability of its the ongoing mix shift to more advanced products; the prospect of the Company's Dubai facility, and the associated expansion into Middle East, Europe and other parts of Asia; the prospect of the Company's Southwest China facility, and its penetration into Southwest China; the impact of volatile crude oil prices on the Company's efforts to diversify its product offers; market for plastic resins; legal and regulatory risks; the Company's projections of its revenues for performance in fiscal in 2015; the Company's ability to execute its growth strategy and the effectiveness of its marketing strategy; the future trading of the common stock of the Company; the Company's ability to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission and available on its website at http://www.sec.gov. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Contacts:
China XD Plastics
Mr. Taylor Zhang
CFO (New York)
US Phone: +1 (212) 747-1118
Email: cxdc-ir@chinaxd.net
Grayling
Vivian Chen
Managing Director
Email: vivian.chen@grayling.com
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