HARBIN, China, Dec. 4, 2012 /PRNewswire-FirstCall/ -- China XD
Plastics Company Limited (NASDAQ: CXDC, "China XD Plastics" or the
"Company"), one of China's leading
company engaged in the development, manufacture and sale of
modified plastics primarily for automotive applications, today
announced that the Company's shareholders voted upon all the
proposals as recommended by the board at the 2012 annual
shareholders meeting held in HARBIN,
China on December 3, 2012.
The following two proposals were approved by the Company's
shareholders at the 2012 annual shareholders meeting:
1. Elect a total of eight (8) directors to the Board of
Directors of the Company, including two (2) directors elected
solely by the holders of the Company's Series D Preferred Stock
(the "Series D Directors"), to serve until the next annual meeting
of stockholders and until their successors are duly elected and
qualified.
2. Ratify the appointment of KPMG as the Company's
independent auditor for the fiscal year ending December 31, 2012.
About China XD Plastics Company Limited
China XD Plastics Company Limited, through its wholly-owned
subsidiaries, develops, manufactures and sells modified plastics,
primarily for automotive applications. The Company's products are
used in the exterior and interior trim and in the functional
components of 23 automobile brands manufactured in China,
including AUDI, BMW, Toyota, Buick, Mazda, VW Golf, Jetta, and
Hafei new energy vehicles. The Company's wholly-owned research
center is dedicated to the research and development of modified
plastics, and benefits from its cooperation with well-known
scientists from prestigious universities in China. As of
September 30, 2012, 236 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 http://cxdc.irpage.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, statements reflecting
management's current beliefs regarding anticipated deployment of
additional productions lines and capacity; expected utilization and
contribution of newly purchased research and development equipment;
market trends and growing demand for higher value-added modified
plastic products; our ability to diversify our modified plastics
product portfolio; and our future growth prospects and market
position. These statements and other forward-looking statements are
subject to uncertainties and 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 Company 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, 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.
Contacts:
China XD Plastics
Mr.
Taylor Zhang, CFO (New York)
Phone: +1-212-747-1118
Email: cxdc@chinaxd.net
SOURCE China XD Plastics Company Limited