China XD Plastics Relocates its National Enterprise Technology Center to the New R&D Base
HARBIN, China, Dec. 5, 2013 /PRNewswire/ -- China XD Plastics Company Limited (NASDAQ: CXDC, "China XD Plastics" or the "Company"), one of China's leading specialty chemical players engaged in the development, manufacture, and sale of modified plastics primarily for automotive applications, announced and celebrated the relocation of its Research and Development ("R&D") center, a National Enterprise Technology Center, specialized in the R&D and industrialization of leading edge macromolecule composite material products used in applications for automobiles, high-speed trains, airplanes and ships, to a new site in its third production base in Harbin.
With area of 13,000 square meters (approximately 139,930.84 square feet), the new R&D center houses 12 R&D quality assurance function sections, 31 laboratories, and over 300 sets state-of-the-art R&D devices, which enable its R&D staff to conduct all qualitative and quantitative inspection and analysis on macromolecule materials, including composition, mechanics, dimension, physics, aging, color, thermal dynamic, flame-resistance, fabrication, environment and processing etc. The center is also equipped with 12 large-scale terminal data servers and a report center, which store the raw experimental data and manufacturing process tracking and examination data of the Company's 30 years of product formulation, processing technique, R&D and quality control and warranty verification. It will more efficiently and accurately provide the R&D staff with tremendous experimental data support.
In accordance with the Company's development plan, the new R&D center will not only contribute to its essential R&D efforts in macromolecule materials in automotive applications but will also support and satisfy its initiatives in other higher end applications such as high-speed train, ships and aerospace.
Mr. Jie Han, Chairman and CEO of China XD Plastics, said, "The relocation of our R&D center to its new site today marked another milestone of China XD's committed endeavor in research and development. We take pride in our national leading and comprehensive R&D center, which allows us to perform a full-spectrum analysis of macromolecule materials and products. It is the most functional specialty R&D center in R&D, quality control and assurance, and inspecting of macromolecule composite materials in China, and will propel us to further expand our R&D capability to the next level."
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 24 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, 2013, 274 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://www.chinaxd.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, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and the marketability of its products; the Company's market penetration abilities in different regional markets; legal and regulatory risks; the Company's ability to execute its growth strategy; the future trading of the common stock of the Company; the Company's ability to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other 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.
China XD Plastics
Mr. Taylor Zhang, CFO
SOURCE China XD Plastics Company Limited