Shengtai Pharmaceutical, Inc. Appoints New CFO
May 01 2008 - 12:24PM
PR Newswire (US)
WEIFANG, China, May 1 /Xinhua-PRNewswire-FirstCall/ -- Shengtai
Pharmaceutical, Inc. (OTC:SGTI.OB) (BULLETIN BOARD: SGTI.OB)
("Shengtai Pharmaceutical" or "the Company"), a leading
manufacturer and distributor of high-quality, pharmaceutical grade
glucose products in China and glucose and starch products that
serve as raw materials 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 of 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 especially 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, ability to
increase its product's applications, 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:
Ms. Melody Shi, CFO, of Shengtai Pharmaceutical, Inc.,
+1-949-468-7078, ; or Mr. Crocker Coulson, President, of CCG Elite
Investor Relations, +1-646-213-1915, NY Office, , for Shengtai
Pharmaceutical, Inc. Web site:
http://www.shengtaipharmaceutical.com/
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