Standard & Poor's Initiates Factual Stock Report Coverage on China XD Plastics Co Ltd.

Standard & Poor’s announced today that it has commenced Factual Stock Report coverage on China XD Plastics Co Ltd.

China XD Plastics Company Ltd. (OTC:CXDC), through its indirectly owned subsidiary, Harbin Xinda Macromolecule Material Co., Ltd., engages in the development, manufacture, and distribution of modified plastics, primarily for automotive applications. The company develops and produces made-to-order modified plastics and provides after-sales services for such automotive brands as Audi, Red Flag, VW Golf, and Mazda6.

China XD'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. The company manufactures approximately 165 types of automobile-specific modified plastic products, of which 137 have been certified for use by one or more of the automobile manufacturers in China. The automotive applications for China XD's plastics include exteriors (automobile bumpers, rear- and side-view mirrors, license plates), interiors (door panels, dashboard, steering wheel, glove compartment and safety belt components), and functional components (air conditioner casing, heating and ventilation casing, engine covers, and air ducts).

The company's production facilities are located in the Harbin Development Zone in the City of Harbin, which is the provincial capital of Heilongjiang Province in northeast China. China XD Plastics currently has annual production capacity of 70,000 tons compared to 40,000 tons at the end of 2008. It is expected to achieve an annual capacity of 100,000 tons by 2010

The company's sales network covers the northeastern and eastern regions of China. It has two sales branches, one in Changchun City and the other in Ningbo City in the eastern part of the country. In 2008, 91% of its sales were derived from the northeastern market, with continuing expansion into the northern and eastern regions of China.

This report will also be accessible on an ongoing basis to the investment community ---- scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts.

About Standard & Poor's Factual Stock Reports

This Standard & Poor’s service provides factual research coverage enabling information about China XD Plastics Co Ltd and other securities to reach a wide investor audience of Buy and Sell-side investors, helping them understand a company’s fundamentals and business prospects. Currently profiling over 800 issuers, S&P Factual Stock Reports increase market awareness for issuers in the investment community with insightful commentary and key statistics/information. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, Industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is sponsored by the issuer, S&P does not offer investment opinions concerning the advisability of investing in these stocks.

Standard & Poor’s Factual Stock Reports are produced separately from any other analytic activity of Standard & Poor’s. Standard & Poor’s Factual Report research has no access to non-public information received by other units of Standard & Poor’s. Standard & Poor’s does not trade on its own account.

Note: All U.S. and Canadian Companies listed on a National Exchange (not covered by S&P’s STARS research) are eligible to obtain this coverage.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 10,000 employees, including wholly owned affiliates, located in 23 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6061265&lang=en

China XD Plastics (CE) (USOTC:CXDC)
Historical Stock Chart
From Jun 2024 to Jul 2024