China XD Plastics Appoints Taylor Zhang as Chief Financial Officer
HARBIN, PRC, May 1, 2009 China XD Plastics Company Ltd. ("China XD" or "the Company"), (OTC:CXDC) (BULLETIN BOARD: CXDC) , as the largest Chinese manufacturer engaged in the development, manufacture, and distribution of modified plastics primarily for use in automotive applications, today announced the appointment of Taylor Zhang as Chief Financial Officer effective immediately. Mr. Zhang brings more than 7 years of corporate finance, strategic planning and management experience to China XD, having recently served as chief financial officer of Advanced Battery Technologies, Inc. . Mr. Zhang succeeds Jie Han, who has served as interim CFO since the Company went public in December 2008. Mr. Zhang will oversee China XD's capital markets efforts and all accounting management and reporting functions.
"We are delighted to welcome Taylor to China XD. With his appointment, we are in an even stronger position to deliver on our objective of becoming an internationally recognized public company," said Mr. Jie Han, chief executive officer of China XD. "Taylor not only has a proven track record of growing businesses, managing complex capital structures, implementing internal policies and procedures in compliance with standards required by the Sarbanes-Oxley Act, and raising funds, but he also has a depth of financial and operational experience that will be invaluable in helping China XD achieve its business objectives."
"I am excited to be joining China XD at such an important point in its corporate evolution," stated Mr. Zhang. "Mr. Han has already led the company to achieve significant milestones thanks to his hard work and vision. I am looking forward to working closely with him and my new colleagues to help China XD achieve its full potential as an industry leading player."
Prior to his appointment, Mr. Zhang served as the chief financial officer of Advanced Battery Technologies, Inc., a leading developer, manufacturer and distributor of rechargeable Polymer Lithium-Ion (PLI) batteries. Before joining Advanced Battery Technologies, Inc, Mr. Zhang served as EVP of Finance at China Natural Gas, Inc, one of the leading providers of pipeline natural gas for industrial, commercial and residential use and compressed natural gas (CNG) for vehicular fuel in Xi'an, China. Prior to China Natural Gas, he served as Financial Analyst for New York Private Equity, where he covered Chinese growth companies in energy sector. Early in his early career, Mr. Zhang was financial manager at Datong Thermal Power Limited in China.
Mr. Zhang earned an MBA degree from the University of Florida and Bachelor Degree in mechanical and electronic engineering by Beijing Technology and Business University.