China Ritar Power Corp. Appoints New Chief Financial Officer

Jan 21, 2010, 09:00 ET from China Ritar Power Corp.

SHENZHEN, China, Jan. 21 /PRNewswire-Asia-FirstCall/ -- China Ritar Power Corp. (Nasdaq: CRTP) (the "Company" or "China Ritar"), a leading Chinese manufacturer of lead acid batteries, announced today the appointment of Mr. Aijun Liu effective January 18, 2010 as the Company's new Chief Financial Officer (CFO). Mr. Liu will replace Mr. Cai Zheng Hua who will remain with the Company as the Chief Accounting Officer.

"We are delighted to have attracted a candidate of Mr. Liu's talent and experience. He joins China Ritar at an exciting time as we are increasing our production capacity and global market penetration," commented Mr. Jiada Hu, China Ritar's Chairman and CEO. "His background and expertise will be important in helping us realize the growth ambitions we have for the future."

Mr. Liu was the Chief Accounting Officer of the Company's subsidiary, Shenzhen Ritar Power Co., Ltd. and was in charge of accounting and finance from April 2007 to December 2009. Prior to this, Mr. Liu served as a Director of Investment Bank Department with China US Venture Capital Group Limited and provided investment banking service to Chinese enterprises for listing on American exchanges from September 2005 to March 2007. From August 2002 to August 2005, Mr. Liu served as an Audit Manager with the Shenzhen Zhongheng Certified Public Accountants Co., Ltd. From June 1997 to July 2002, Mr. Liu was the Financial Manager of Shenzhen Wanji Pharmacy Co., Ltd., a company engaged in the business of research, manufacturing and selling medicines. Mr. Liu is a CPA and holds a lawyer's certificate of qualification in China. Mr. Liu received a Bachelor's Degree in Accounting from Jinan University and obtained a Master's degree in Law from Wuhan University.

About China Ritar

China Ritar designs, develops, manufactures and markets environmentally friendly lead acid batteries with a wide range of capacities and applications, including telecommunications, Uninterrupted Power Source (UPS) devices, Light Electrical Vehicles (LEV), and alternative energy production (solar and wind power). China Ritar sells, markets and services six series and 197 models of Ritar-branded, cadmium-free valve-regulated lead-acid (VRLA) batteries. Products are sold worldwide with sales in 81 countries including China, India, and numerous markets in Europe and the Americas. Additional information can be found at the Company's website http://www.ritarpower.com .

Safe Harbor Statement

This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

    For more information, please contact:

    Elite IR
     John Marco, Partner
     Phone: +1-310-819-2948
     Email: John.marco@elite-ir.com

    Elite IR
     Leslie J. Richardson, Partner
     Phone: +852-3183 0283
     Email: Leslie.richardson@elite-ir.com

SOURCE China Ritar Power Corp.



RELATED LINKS

http://www.ritarpower.com