HARBIN, China, Dec. 4 /PRNewswire-Asia/ -- China XD Plastics Company Ltd. ("China XD Plastics" or the "Company"), (Nasdaq: CXDC), the largest Chinese manufacturer engaged in the development, manufacture, and distribution of modified plastics primarily for use in the automotive applications in China, today announced that the Company's shareholders adopted all the resolutions proposed by management at the 2009 annual shareholders meeting held in New York City on December 1, 2009
The following three proposals were approved by the Company's shareholders at the 2009 annual shareholders meeting:
1. Elected seven directors to serve until the 2010 Annual Meeting of Stockholders and until their respective successors are elected and qualify from among the following nominees: Mr. Jie Han, Mr. Taylor Zhang, Mr. Qingwei Ma, Mr. Lawrence Leighton, Mr. Cosimo Patti, Mr. Linyuan Zhai, and Mr. Yong Jin.
2. Ratified the selection of Moore Stephens HK as its independent auditor for 2009.
3. Approved the 2009 Stock Option / Stock Issuance Plan.
About China XD Plastics Company Ltd.
China XD Plastics Company Ltd., through its wholly owned subsidiary Harbin Xinda Macromolecule Material ("Xinda"), develops, manufactures, and distributes modified plastics, primarily for automotive applications. The Company's specialized plastics are used in the exterior and interior trim and in the functional components of more than 30 automobile brands manufactured in China including Audi, Red Flag, Volkswagen and Mazda. The Company's wholly-owned research institute is dedicated to the research and development of modified plastics, and benefits from the cooperation with well-known scientists from prestigious universities in China. As of the end of September 30, 2009, 137 products that Xinda manufactured 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 ability to increase the number of certifications; the Company's ability to introduce new product applications for automobiles; the effectiveness, profitability, and the marketability of its products; the Company's ability to successfully expand its production capacity; the company's ability to protect its proprietary information; 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 companies 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, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For more information, please contact:
China XD Plastics Company Ltd.
Mr. Taylor Zhang, CFO
Tel: +1-212-747-1118 (New York)
Mr. Allan Lao, IR Director
Tel: +86-451-8434-6600 (China)
Email: cxdc@chinaxd.net
CCG Investor Relations Inc.
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
Mr. Ed Job, CFA
Tel: +1-646-213-1914 (New York)
Email: ed.job@ccgir.com
Web: http://www.ccgirasia.com
