China XD Plastics Announces Official Certification as an Academy Member Workstation of the Chinese Academy of Engineering and the Chinese Academy of Science

HARBIN, China, Nov. 15, 2010 /PRNewswire-Asia-FirstCall/ -- China XD Plastics Company Limited ("China XD Plastics" or the "Company"), (NasdaqGM: CXDC), a leading Chinese developer, manufacturer, and distributor of modified plastics primarily for use in automotive applications in China, today announced that its Macromolecule Research Institute, a national leader in the macromolecule research and development field, has been officially designated an Academy Member Workstation by the PRC Department of Science and Technology of Heilongjiang province, becoming one of only five Academy Member Workstations in Heilongjiang province.

The Academy Member Workstation is an innovation-driven platform, teaming members of the Chinese Academy of Science (CAS) and the Chinese Academy of Engineering (CAE) with local provincial research institutes and enterprises. In addition to fostering high-level cooperation for research and development purposes, this platform enables enterprises to apply for government research grants available only to companies with this certification. With this designation, the Company will begin to seek areas of cooperation with the CAS and CAE members to further its research and development initiatives.

"We are pleased to announce the designation of our Macromolecule Institute as an Academy Member Workstation, an important honor bestowed upon us by the Heilongjiang provincial Department of Science and Technology. We believe that this formal certification – the first given to an enterprise in the field of automotive modified plastics in China – provides the Company with a solid platform to enter into the high-tech field of new energy automobiles. We anticipate that obtaining this government support will enable us to increase our R&D efforts related to electric automobiles and the development of other new modified plastics materials. This in turn, we expect, will help the Company to extend its high-end product lines, develop at a faster pace, and continue to reap the full benefit of global increases in usage of modified plastic per vehicle," commented Mr. Jie Han, Chairman of the Board and CEO of China XD Plastics.

The Chinese Academy of Sciences is a leading academic institution and comprehensive research and development center, covering natural science, technological science and high-tech innovation in China at the highest level.

The Chinese Academy of Engineering is a national and independent organization composed of elected members who have received the nation's highest honor in the community of engineering and technological sciences. Its missions are to initiate and conduct strategic studies and to provide consultancy services in relation to the nation's key engineering and technological sciences issues.

About China XD Plastics Company Limited

China XD Plastics Company Limited, through its wholly-owned subsidiary, Harbin Xinda Macromolecule Material ("Xinda"), develops, manufactures, and distributes modified plastics, primarily for automotive applications. The Company's specialized plastics are used in the exterior and interior trim and in the functional components of more than 60 automobile brands manufactured in China including Audi, Red Flag, Volkswagen and Mazda. The Company's wholly-owned research institute is dedicated to the research and development of modified plastics, and benefits from the cooperation with well-known scientists from prestigious universities in China. At present, 169 of Xinda'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 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, involving 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 the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's 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 risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

SOURCE China XD Plastics Company Limited