TAIYUAN, Shanxi, China, July 24 /Xinhua-PRNewswire-FirstCall/ -- Puda Coal, Inc. (OTC Bulletin Board: PUDC) (“Puda Coal” or the “Company”), a supplier of China’s high grade metallurgical coking coal used to make coke for the purposes of steel manufacturing, today announced that the Company had appointed Ms. Qiong (Laby) Wu as its Chief Financial Officer, effective July 23, 2008. She replaced Ms. Xia Jin, who resigned on the same day.
Prior to joining the Company, Ms. Wu was CFO and Vice President of Financing and Investor Relations at Sinoenergy Corporation (OTC Bulletin Board: SINE) since 2006, which is a manufacturer of compressed natural gas (CNG) vehicle and gas station equipment and a designer, developer and operator of retail CNG filling stations in China. While employed by Sinoenergy Corporation, Ms. Wu was responsible for preparing and reporting financial statements as well as managing investment affairs. From 2004 to 2006, Ms. Wu was employed by Ernst & Young Hua Ming Accounting Firm as a Senior Auditor, responsible for financial audits and designed internal control processes. From 2000 to 2004, Ms. Wu was an Accountant and Tax Consultant at HLB-Beijing Yongtuo CPAs, responsible for financial audits and internal control design. Ms. Wu obtained her master’s degree from Australia Deakin University. In addition to her native Chinese, she speaks fluent English.
“We are delighted to engage Ms. Wu as our CFO,” said Mr. Liping Zhu, Puda Coal’s President and CEO. “We welcome her in-depth experience in accounting, particularly in designing internal controls and auditing and preparing financial reports for U.S. listed companies based in China. We believe Ms. Wu will play a significant role in enhancing our finance and accounting functions and facilitating our communication with investors.”
Commenting on her appointment, Ms. Wu stated, “I am honored to be a part of Puda Coal’s strong management team as we seek to enhance our position in China’s rapidly growing coal industry. I look forward to adding my expertise and knowledge to an already experienced and impressive management team.”
About Puda Coal, Inc.
Puda Coal, through its subsidiaries, supplies premium grade coking coal to the steel making industry for use in making coke in China. The Company currently possesses 3.5 million metric tons of annual coking coal cleaning capacity. Shanxi Province provides 20 - 25% of China’s coal output and supplies nearly 50% of China’s coke.
FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future anticipated financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. For example, our plan to enhance our finance and accounting functions depends on, among other things, how well and how quickly our new CFO will adapt to her new position at the new company and work with the board and the existing management team. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For more information, please contact:
Investor Relations Contact:
Crocker Coulson, President
CCG Investor Relations
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgir.com
Company Contact:
Wenwei Tian, Chief Operating Officer
Director of Investor Relations
Puda Coal, Inc.
Tel: +86-351-228-1302
Email: awtian@yahoo.com
