HARBIN, China, Dec. 16, 2015 /PRNewswire/ -- China XD Plastics
Company Limited (NASDAQ: CXDC)
("China XD Plastics" or the "Company"), one of China's leading specialty chemical companies
engaged in the development, manufacture and sale of polymer
composite materials primarily for automotive applications, today
announced that it recently held a ceremony for the Heilongjing Hope
Project Xinda Scholarship and hosted its Eighth Seminar on Polymer
Materials Development at the Harbin Institute Of Technology. The
two events complemented each other as their undertakings and achievements advance the
development of the polymer materials industry in China.
"The Heilongjing Hope Project Xinda Scholarship represents
funding for both undergraduate, master and doctoral students at the
Harbin Institute of Technology and other universities included in
the 211 Project, an initiative targeting 100 institutions of higher
education in China to receive
preferential support for development in order to become world-class
universities in the 21st century. We are especially supportive of
this program since they include universities that engage in polymer
materials studies throughout China," said Jie
Han, Chairman and Chief Executive Officer. "We are proud to
fulfill this commitment to be able to give back to the community as
our educational programs are an important component of our
corporate social responsibility agenda. It is consistent with our
corporate mission to 'Improve the World with Technology' which also
speaks to our principle of advancing environmental safety and a
better low-carbon future."
The two events, held on December 3,
2015, included China XD Plastics' Eighth Seminar on Polymer
Materials Development. Professor Xigao Jian, a member of the
Chinese Academy of Engineering from the Dalian University of Technology, and other
industry experts gave presentations about the current state of the
polymer materials industry and ongoing trends. A central seminar
theme concerned the future direction of the polymer materials
industry and ways to accelerate the commercialization of research
and development work. The seminar's goals, held annually, are to
promote the development of polymer materials industry through the
application of new technologies and new products, as well as to
encourage new platforms for creative thinking.
The honored guests at the two events included China XD Plastics'
senior executives, the Heilongjiang Xinda Charitable Foundation,
the Heilongjiang Youth Development Foundation, executives from the
Harbin Institute of Technology Development Foundation, Professor
Xigao Jian, a member of the Chinese Academy of Engineering from the
Dalian University of Technology,
and more than 30 representatives from China's top scientific research institutes
such as Tsinghua University, Jilin
University, Sichuan University,
East China University of Science and Technology and the Harbin
Institute of Technology.
About Harbin Institute of Technology
Harbin Institute of Technology ("HIT") is a large, nationally
renowned multi-disciplinary university with science, engineering
and research as its core. HIT has 21 schools/departments attended
by 42,695 full-time students and it employs 2,944 full-time
teachers, including 22 academicians of the Chinese Academy of
Sciences and the Chinese Academy of Engineering. HIT is
consistently on the forefront in making innovations in research,
and in undertaking large-scale and highly sophisticated national
projects. HIT's ability for scientific research is among the
strongest of all the universities in China. HIT was among the first group of
universities to be included in Project 211 which targets 100
institutions of higher education in China to receive preferential support for
development in order to become world-class universities in the 21st
century.
About China XD Plastics Company Limited
China XD Plastics Company Limited, through its wholly-owned
subsidiaries (the "Company"), develops, manufactures and sells
polymer composite materials, 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, and VW Passat, Golf, and Jetta.
The Company's wholly-owned research center is dedicated to the
research and development of polymer composite materials, and
benefits from its cooperation with well-known scientists from
prestigious universities in China.
As of Sept 30, 2015, 350 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 growth
potential in international markets; the effectiveness and
profitability of the Company's product diversification strategy;
the impact of the Company's product mix shift to more advanced
products and related pricing policies; the volatility of the
Company's operating results and financial condition; the Company's
ability to raise additional capital to finance the Company's
activities; the Company's and its subsidiaries' ability to fully
perform all of their obligations under the guaranteed senior notes
transaction and other contractual obligations applicable to them;
the effectiveness, profitability, and the marketability of its the
ongoing mix shift to more advanced products; the prospect of the
Company's Dubai facility, and the
associated expansion into Middle
East, Europe and other
parts of Asia; the prospect of the
Company's Southwest China
facility, and its penetration into Southwest China; the impact of volatile crude
oil prices on the Company's efforts to diversify its product
offers; market for plastic resins; legal and regulatory risks; the
Company's projections of its revenues for performance in fiscal in
2015; the Company's ability to execute its growth strategy and the
effectiveness of its marketing 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; 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.
Contacts:
China XD Plastics
Mr. Taylor Zhang
CFO (New York)
US Phone: +1 (212) 747-1118
Email: cxdc-ir@chinaxd.net
Grayling
Vivian Chen
Managing Director
Email: vivian.chen@grayling.com
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SOURCE China XD Plastics Company Limited