HARBIN, China, May 8, 2015 /PRNewswire/ -- China XD Plastics
Company Limited (NASDAQ: CXDC, "China XD Plastics" or the
"Company"), one of China's leading
specialty chemical producers engaged in the development,
manufacture and sale of polymer composite materials primarily for
automotive applications, today announced the audit committee of the
Board of Directors of the Company approved the dismissal of KPMG as
the Company's independent registered public accounting firm,
effective as of May 8, 2015, and the
appointment of KPMG Huazhen (SGP) as the Company's independent
registered public accounting firm for the fiscal year ending
December 31, 2015.
The audit reports of KPMG on the Company's consolidated
financial statements for the fiscal years ended December 31, 2014 and 2013 did not contain any
adverse opinion or disclaimer of opinion, nor were they qualified
or modified as to uncertainty, audit scope or accounting
principles.
Mr. Jie Han, Chairman of the
Board of Directors and Chief Executive Officer of China XD
Plastics, said, "While China XD Plastics previously engaged KPMG
based in Hong Kong, the change to
KPMG Huazhen (SGP) will align the auditing process to the location
where the vast majority of the Company's operations take place and
where substantial audit work is performed. Going forward, the
Company will continue to work with KPMG Huazhen (SGP) which is
based in mainland China. We are
pleased the appointment of KPMG Huazhen (SGP) was approved by the
Company's Audit Committee."
For more information on China XD Plastics' change in auditor
please refer to the Company's Form 8-K filed on May 8, 2015.
About China XD Plastics Company Limited
China XD Plastics Company Limited, through its wholly-owned
subsidiaries, develops, manufactures and sells polymer composites
materials, primarily for automotive applications. The Company's
products are used in the exterior and interior trim and in the
functional components of 27 automobile brands manufactured in
China, including without
limitation, AUDI, BMW, Volkswagen, Buick, Mazda, and Toyota. The
Company's wholly-owned research center is dedicated to the research
and development of polymer composites materials and benefits from
its cooperation with well-known scientists from prestigious
universities in China. As of
March 31, 2015, 321 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.
Contacts:
China XD Plastics
Mr. Taylor
Zhang, CFO (New York)
Phone: +1 (212) 747-1118
Email: cxdc@chinaxd.net
ICR LLC
Mr. William
Zima
Phone: +1 (203) 682 - 8233
Email: William.Zima@icrinc.com
Katherine Knight
Phone: +1 (646) 277-1276
Email: Katherine.knight@icrinc.com
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SOURCE China XD Plastics Company Limited