China XD Plastics to Join Russell Global Index
HARBIN, China, June 24 /PRNewswire-Asia-FirstCall/ -- China XD Plastics Company Ltd. ("China XD Plastics" or the "Company") (Nasdaq: CXDC), the largest Chinese manufacturer engaged in the development, manufacture, and distribution of modified plastics primarily for use in automotive applications in China, today announced that, according to a preliminary list of additions dated June 11, 2010, updated on June 18 2010 and posted on http://www.russell.com , the Company will be included in the broad-market Russell Global Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes after the market closes on June 25, 2010.
"Qualifying to be included in the Russell Global Index represents an important milestone in China XD Plastics' history. Being part of this index, we see the opportunity to further increase the Company's visibility within the investment community and diversify our shareholder base," commented Mr. Jie Han, Chairman and Chief Executive Officer of China XD Plastics.
The Russell Global Index represents the investable global equity market and its segments comprehensively. It consists of more than 10,000 securities in 70 countries and offers over 300 key sub-indexes. The Russell Global Indexes are completely modular-divisible by market capitalization, developed or emerging, region, country and sector.
About Russell Indexes
Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in assets currently are benchmarked to them. These investment tools originated from Russell Investments' multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers. Additional information about Russell Indexes and Russell Investments can be obtained from http://www.russell.com .
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 use in the production of automobile parts and components. The Company's specialized plastics are used to produce: exterior parts, such as automobile bumpers, rearview and sideview mirrors and license plate parts; interior parts, such as door panels, dashboard, steering wheel, glove compartment and safety belt components; and functional components, such as air conditioner casing, heating and ventilation casing, engine covers, and air ducts. Our specialized plastics are utilized in more than 30 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, 152 of 263 of Harbin Xinda's automotive-specific modified plastic products have been certified 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 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: +86-451-8434-6600 (Harbin)
Email: [email protected]
CCG Investor Relations Inc.
Ms. Vivian Chen, Sr. MI Executive
Phone: +1-646-701-7445 (New York)
Mr. Ed Job, CFA
Phone: +86-138-1699-7314 (Shanghai)
Email: [email protected]
Web: http://www.ccgirasia.com
SOURCE China XD Plastics Company Ltd.
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