HARBIN, China, Nov. 13, 2018 /PRNewswire/ -- China XD Plastics Company Limited (NASDAQ: CXDC) ("China XD Plastics" or the "Company"), one of China's leading specialty chemical companies and top 500 non-Stated Owned Enterprises in China's manufacturing sector engaged in the development, manufacture and sale of polymer composite materials primarily for automotive applications, today announced the commissioning of its digital and automatic production base specialized in producing engineering alloy plastics and official ceremony held in Jebel Ali Free Zone ("JAFZA") on November 11, 2018.
Witnessed this milestone of the Company's oversea business expansion during the ceremony were Mr. Ahmad Sultan Al Haddad, JAFZA's Chief Operating Officer, Mr. Chen Wang from China Consulate-General in Dubai, automobile manufacturers, and the Company's European customers, Middle East customers, and suppliers.
"As the first new material manufacturer rooted from China building a production facility in the Middle East, Dubai Xinda will play a vital role as a logistic and manufacturing hub for the Company with focus on top end polymer composite materials, including long chain nylon alloy and other specialty engineering plastics for the Company's product development, quality assurance, marketing and distribution in Middle East and EU. In addition, Dubai Xinda will provide support to the Company's international strategic clientele in customer support, logistics and delivery." said Jie Han, Chairman of the Board of Directors and Chief Executive Officer. "Following China's One Belt, One Road initiative, Dubai Xinda will supply advanced materials to high-end functional components for applications in automobiles, electronics, alternative energy, railroad, ships, and airplanes with its 11.25 thousand metric tons annual capacity stationed in our state of art, digital and automatic factory. I would like to take this opportunity to thank our dedicated employees, loyal customers, suppliers, partners and other supportive stakeholders who made this happen. We are thrilled about this significant achievement for China XD to pursue international business opportunity at a whole new level."
About China XD Plastics Company Limited
China XD Plastics Company Limited, through its wholly-owned subsidiaries, develops, manufactures and sells polymer composites materials, primarily for automotive applications. The Company's products are used in the exterior and interior trim and in the functional components of 31 automobile brands manufactured in China, including without limitation, Audi, Mercedes Benz, BMW, Toyota, Buick, Chevrolet, Mazda, Volvo, Ford, Citroen, Jinbei and VW Passat, Golf, Jetta, etc. The Company's wholly-owned research center is dedicated to the research and development of polymer composites materials and benefits from its cooperation with well-known scientists from prestigious universities in China. As of September 30, 2018, 476 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 the Company's English website at http://chinaxd.irpass.com/, and the Chinese website at http://www.xdholding.com.
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 effectiveness, profitability, and the marketability of its the ongoing mix shift to more advanced products; the prospects of the Company's Dubai facility, and the associated expansion into Middle East, Europe and other parts of Asia; the prospects of the Company's Sichuan facility, and its penetration into Southwest China; the prospects of the Company's Harbin facility, and its penetration into Northeast China; the Company's projections of its revenues for performance in fiscal 2018. These forward-looking statements can be identified by terminology such as "will," "expect," "project," "anticipate," "forecast," "plan," "believe," "estimate" and similar statements. Forward-looking statements involve inherent risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the global economic uncertainty which could further impair the automotive industry and limit demand for our products; fluctuations in automotive sales and production which could have a material adverse effect on our results of operations and liquidity; our financial performance which may be affected by the prospect of our Dubai facility and the associated expansion into Middle East, Europe and other parts of Asia; the withdrawal of preferential government policies, the tightening control over the Chinese automotive industry, automobile purchase restrictions imposed in certain major cities which may limit market demand for our products; the slowing of Chinese automotive industry's growth; the concentration of our distributors, customers and suppliers; 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. 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.
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