Shengtai Pharmaceutical, Inc. Appoints New CFO
May 01 2008 - 11:42AM
PR Newswire (US)
WEIFANG, China, May 1 /Xinhua-PRNewswire-FirstCall/ -- Shengtai
Pharmaceutical, Inc. (OTC:SGTI) (BULLETIN BOARD: SGTI) ("Shengtai
Pharmaceutical" or "the Company"), a leading manufacturer and
distributor in China of high- quality, pharmaceutical grade glucose
products for the medical industry and glucose and starch products
for food, beverage and industrial production, today announced the
appointment of Ms. Melody Shi as its Chief Financial Officer
effective April 30, 2008. Ms. Shi replaces Mr. Yizhao Zhang, who
resigned effective April 30, 2008 for personal reasons. Ms. Shi has
10 years working experience in the fields of financial control,
auditing and business analysis in both China and the U.S. Since
2005, she has acted as audit manager for Kabani & Co. Inc.,
where she led the China practice which was responsible for auditing
the financial results of more than 50 PRC companies that are public
in the U.S. and reviewing related filings with the U.S. Securities
and Exchange Commission. Prior to 2005, Ms. Shi served as
controller at Aroa Marketing, channel program manager at Sun
Microsystems and financial analyst at Hewlett Packard China. Ms.
Shi holds an MBA from the University of California, Irvine and
Bachelor's degrees in Computer Science and International Trade and
Business from Beijing Polytechnic University. Ms. Shi is a
Certified Public Accountant and is fluent in English and Mandarin.
"I am very pleased to join Shengtai during this time of rapid
growth and strong performance," commented Ms. Shi. "I look forward
to adding my experience and expertise to an already impressive
management team." "We welcome Ms. Shi to our management team, and
believe her expertise in financial reporting for U.S. listed
Chinese companies will enhance our disclosure and improve our
communication with our investors," said Mr. Qingtai Liu, Shengtai
Pharmaceutical's Chairman and CEO. About Shengtai Pharmaceutical,
Inc. Shengtai Pharmaceutical, Inc. through its wholly-owned
subsidiary Shengtai Holding, Inc. (SHI), a New Jersey corporation,
and the Chinese operating company Weifang Shengtai Pharmaceutical
Co., Ltd., is a leading manufacturer and supplier of glucose
products, which include pharmaceutical grade glucose used for
medical purposes, and glucose and cornstarch products for the food
and beverage industry and for industrial production in China. For
more information about Shengtai Pharmaceutical, Inc. please visit
http://www.shengtaipharmaceutical.com/ . Safe Harbor Statement Safe
Harbor Statement Under the Private Securities Litigation Reform Act
of 1995: Certain statements in this press release and oral
statements made by the Company, constitute forward-looking
statements for purposes of the safe harbor provisions under The
Private Securities Litigation Reform Act of 1995. These statements
include, without limitation, statements regarding our ability to
prepare the company for growth and our ability to improve
communication with investors and improve disclosure. We have based
these forward-looking statements largely on our current
expectations and projections about future events and financial
trends that we believe may affect our financial condition, results
of operations, business strategy and financial needs but they
involve risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements,
which may include, but are not limited to, such factors as
unanticipated changes in product demand in the pharmaceutical
industry, pricing and demand trends for the Company's products,
changes to government regulations, risk associated with operation
of the Company's new facilities, risk associated with large scale
implementation of the Company's business plan, the ability to
attract new customers, the ability to increase its products'
applications, the cost of raw materials, downturns in the Chinese
economy, and other information detailed from time to time in the
Company's filings and future filings with the United States
Securities and Exchange Commission. Investors are urged to consider
these factors carefully in evaluating the forward-looking
statements herein and are cautioned not to place undue reliance on
such forward-looking statements, which are qualified in their
entirety by this cautionary statement. The forward-looking
statements made herein speak only as of the date of this press
release and the Company undertakes no duty to update any
forward-looking statement to conform the statement to actual
results or changes in the company's expectations. Company Contact:
Investor Relations Contact: Ms. Melody Shi Mr. Crocker Coulson CFO
President Shengtai Pharmaceutical, Inc. CCG Elite Investor
Relations Tel: +1-949-468-7078 Tel: +1-646-213-1915 (NY Office)
E-mail: E-mail: DATASOURCE: Shengtai Pharmaceutical, Inc. CONTACT:
Company Contact, Ms. Melody Shi, CFO of Shengtai Pharmaceutical,
Inc., +1-949-468-7078, , or Investor Relations, Mr. Crocker
Coulson, President, CCG Elite Investor Relations, +1-646-213-1915,
NY Office, , for Shengtai Pharmaceutical, Inc. Web site:
http://www.shengtaipharmaceutical.com/
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