BEIJING, July 2, 2018 /PRNewswire/ -- China Biologic
Products Holdings, Inc. (NASDAQ: CBPO) ("CBPO" or the "Company"), a
leading fully integrated plasma-based biopharmaceutical company in
China, today announced the results
of the Company's 2018 Annual General Meeting of Shareholders (the
"Annual Meeting"), which was originally convened at 10:00 a.m. on Friday, June 29, 2018, and adjourned and
re-convened at 10:00 a.m. on
Monday, July 2, 2018.
At the Annual Meeting, shareholders of the Company approved the
re-election of each of Mr. Yungang Lu and Mr. Zhijun Tong as a Class III director to serve on
the board of directors of the Company (the "Board") until the 2021
annual general meeting of shareholders, and ratified the
appointment of KPMG Huazhen LLP as the Company's independent
registered public accounting firm for the fiscal year ending
December 31, 2018. The shareholders
of the Company did not approve the re-election of Mr. Albert (Wai
Keung) Yeung as a Class III director. As a result, Mr.
Yeung has not been re-elected as
a director of the Company.
The Company also announced that its Board elected Mr. David
Hui Li as the new chairman of the Board, effective
July 1, 2018. Mr. David (Xiaoying) Gao, who served for more than
six years as the Board's chairman, remains a director on the Board. In
addition, Mr. Gao has stepped down
from the position of the Chief Executive Officer of the Company.
The Board is actively seeking a new Chief Executive Officer
and has appointed Mr. Zhijun Tong as the acting Chief Executive
Officer in the interim.
Mr. David Hui Li stated, "I am
honored to be elected as the chairman of the Board and look forward
to continuing to work with the Company's Board and management team
to develop the Company's business and create value for the
Company's shareholders. I am thankful for the confidence that the
Board has placed on me and will do my best to improve the corporate
governance of the Company."
Mr. David Hui Li has been a
member of our Board since November 4,
2013. Mr. David Hui Li was an
executive director and a managing director at Warburg Pincus Asia
LLC ("Warburg Pincus") from February
2002 to January 2016. Prior to
joining Warburg Pincus, Mr. David Hui
Li worked in the investment banking division of Goldman
Sachs from 2001 to 2002 and Morgan Stanley from 1994 to 2001. Mr.
David Hui Li received a B.S. in
economics from Renmin University of China and an M.B.A. from Yale University School of Management.
Mr. Zhijun
Tong has been a member of our Board since April 20, 2012. He has served on many boards of
directors, including as chairman of the board. The companies in
which Mr. Tong has held board or senior management positions
include Spain Qifa Corporation Ltd., Hong Kong Tong's Group,
Sunstone (Qingdao) Plant Oil Co.,
Ltd., Sunstone (Qingdao) Food Co.,
Ltd., Shengda (Zhangjiakou) Pharmaceutical Co., Ltd., Shengda
(Qianxi) Chinese Medicine Cultivation Co., Ltd. and Spain
International Haisitan Group. From 2007 to 2011, he was the
chairman of the board of directors and general manager of Sunstone
Pharmaceutical Co., Ltd. He also served as the president and a
director of BMP Sunstone Corporation, a NASDAQ-listed
pharmaceutical corporation.
About China Biologic Products Holdings, Inc.
China Biologic Products Holdings, Inc. (NASDAQ: CBPO) is a
leading fully integrated plasma-based biopharmaceutical company in
China. The Company's products are
used as critical therapies during medical emergencies and for the
prevention and treatment of life-threatening diseases and
immune-deficiency related diseases. China Biologic is headquartered
in Beijing and manufactures over
20 different dosage forms of plasma products through its indirect
majority-owned subsidiary, Shandong Taibang Biological Products
Co., Ltd. and its wholly owned subsidiary, Guizhou Taibang
Biological Products Co., Ltd. The Company also has an equity
investment in Xi'an Huitian Blood Products Co., Ltd. The Company
sells its products to hospitals, distributors and other healthcare
facilities in China. For
additional information, please see the Company's website
www.chinabiologic.com.
Safe Harbor Statement
This news release may contain certain "forward-looking
statements" relating to the business of China Biologic Products
Holdings, Inc. and its subsidiaries. All statements, other than
statements of historical fact included herein, are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "intend,"
"believe," "expect," "are expected to," "will," or similar
expressions, and involve known and unknown risks and uncertainties.
Although the Company believes that the expectations reflected in
these forward-looking statements are reasonable, they involve
assumptions, risks, and uncertainties, and these expectations may
prove to be incorrect. Investors should not place undue reliance on
these forward-looking statements, which speak only as of the date
of this news release. The Company's actual results could differ
materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including, without
limitation, those risks and uncertainties discussed in the
Company's periodic reports that are filed with the Securities and
Exchange Commission and available on its website
(http://www.sec.gov). All forward-looking statements attributable
to the Company or persons acting on its behalf are expressly
qualified in their entirety by these factors. Other than as
required under the securities laws, the Company does not assume a
duty to update these forward-looking statements.
Contact:
China Biologic Products Holdings, Inc.
Mr. Ming Yin
Senior Vice President
Phone: +86-10-6598-3099
Email: ir@chinabiologic.com
ICR Inc.
Mr. Bill Zima
Phone: +86-10-6583-7511 or +1-646-405-5191
E-mail: bill.zima@icrinc.com
View original
content:http://www.prnewswire.com/news-releases/china-biologic-announces-results-of-its-2018-annual-general-meeting-of-shareholders-300675276.html
SOURCE China Biologic Products Holdings, Inc.