During the year-end strategic meeting of the board, all the directors approved the following items.
-- The issuance of three-year employee stock options under the Company's 2009 Stock Option/Stock Issuance Plan registered on Form S-8 with the SEC, which will be vested one third each year subject to reach of the Company's certain annual financial targets in the next three year -- As a way to better execute the Company's plan in connection with its business outlook and growth strategy, the board approved the optimized 2010 organization structure for China XD Plastics and its subsidiaries -- The executive appointments for China XD Plastics submitted by the nominating committee -- The 2010 annual compensation and benefits packages for employees of China XD Plastics and its subsidiaries recommended by the compensation committee based on the optimized organization structure -- Approval of 2010 business objectives for China XD Plastics and of 2010 corresponding annual budget to be overseen by Jie Han, Chairman and CEO of the Company
"We are very proud of our results for 2009," said Mr.
About China XD Plastics Company Ltd.
China XD Plastics Company Ltd., 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 30 automobile brands manufactured in
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 increase the number of certifications; the Company's ability to introduce new product applications for automobiles; the effectiveness, profitability, and the marketability of its products; the Company's ability to successfully expand its production capacity; 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 companies 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, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For more information, please contact: China XD Plastics Company Ltd. Mr. Taylor Zhang, CFO Phone: +1-212-747-1118 (New York) Mr. Allan Lao, IR Director Phone: +86-451-84346600 (China) Email: email@example.com CCG Investor Relations Inc. Mr. Crocker Coulson, President Phone: +1-646-213-1915 (New York) Mr. Ed Job, CFA Phone: +1-646-213-1914 (New York) Email: firstname.lastname@example.org Web: http://www.ccgirasia.com
SOURCE China XD Plastics Company Ltd.