HUIZHOU, Guangdong, China, June
8 /PRNewswire-Asia-FirstCall/ -- Qiao Xing Universal
Resources, Inc. (Nasdaq: XING) ("the Company" or "XING"), an
emerging Chinese resources company headquartered in Huizhou, Guangdong
Province, today announced the expansion of its management
team with the addition of Mr. Zhimin
Guo as Executive Director, effective immediately.
Mr. Guo is a seasoned executive with over 20 years of experience
in the mining industry. Before joining XING, Mr. Guo was Vice
President of Mining Operations and Director of Investments at
Shanghai Fosun High Technology (Group) Co., Ltd. ("Fosun"), a
Chinese conglomerate with a mining division spanning iron ore,
steel, coking coal and gold. Fosun's holding company is listed on
the Hong Kong Stock Exchange (HKSE). Prior to that, Mr. Guo served
as Vice General Manager at Shanghai Gangtai Mining Co., Ltd.
Previously, Mr. Zhou was Vice General Manager at Zijin
International (Beijing) Mining
Co., Ltd., a subsidiary of Zijin Mining Group Co., Ltd. ("Zijin
Mining"), a large international mining group engaged in the
exploration and development of gold and base metals, and dually
listed on the HKSE and the Shanghai Stock Exchange. During his stay
at Zijin Mining, Mr. Guo was also Chairman of Zijin Mining's
Shanxi subsidiary and its Rushan
subsidiary in Shandong.
During his extensive career as a mining executive, Mr. Guo has
successfully advised on the investments, exploration and operations
of different mines. Mr. Guo also has a proven track record of
leveraging his technical expertise to manage and optimize mining
operations. In addition, Mr. Guo has deep expertise in industry
trends, a key requirement for the Company as it seeks to expand and
grow its presence in the mining business. Mr. Guo obtained a
college diploma in Mining Geology from Shenyang Gold College and a
Master's degree in Political Economics from Nanjing Institute of
Politics of the People's Liberation Army. He has also attended
training programs on advanced business management from Tsinghua
University.
"We are pleased to add Mr. Guo to our leadership team. We
believe his experience with publicly trade mining companies as well
as his solid background in steering and executing mergers and
acquisitions are a great fit with our needs. Mr. Guo is going to
play an important role in helping us realize the value of our
diverse mining operations," said Mr. Ruilin
Wu, Chief Executive Officer of XING. "We look forward to Mr.
Guo's contributions to help take our mining business to the next
level as we continue to pursue our strategic transition to become a
pure resources player with meaningful scale."
About Qiao Xing Universal Resources, Inc.
Qiao Xing Universal Resources, Inc. is an emerging Chinese
resources company headquartered in Huizhou, Guangdong
Province, China. The
Company was previously one of the leading players of
telecommunication terminal products in China, but made the strategic decision to
diversify into the resources industry in 2007. In April 2009, the Company acquired the 100% equity
interest in China Luxuriance Jade
Company, Ltd ("CLJC"). CLJC, through its wholly owned Chinese
subsidiaries, owns the rights to receive the expected residual
returns from Chifeng Haozhou Mining Co., Ltd. ("Haozhou Mining"), a
large copper-molybdenum poly-metallic mining company in Inner
Mongolia, China. Since then, the
Company has further refined its strategy to become a pure resources
company and is actively seeking additional acquisition targets in
the resources industry.
Safe Harbor Statement
This announcement contains forward-looking statements, as
defined in the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. In some cases, these
forward-looking statements can be identified by words or phrases
such as "aim," "anticipate," "believe," "continue," "estimate,"
"expect," "intend," "is /are likely to," "may," "plan,"
"potential," "will" or other similar expressions. Statements that
are not historical facts, including statements about Qiao Xing
Universal Resources, Inc.'s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement. Information regarding these factors is
included in our filings with the Securities and Exchange
Commission. Qiao Xing Universal Resources, Inc. does not undertake
any obligation to update any forward-looking statement, except as
required under applicable law. All information provided in this
press release is as of June 8,
2010.
For more information, please contact:
Company Contact:
Mr. Rick Xiao, Vice President
Email: rick@qiaoxing.com
Tel: +86-752-282-0268
CCG Investor Relations Contact:
Mr. Ed Job, Account Manager
Email: ed.job@ccgir.com
Tel: +1-646-213-1914 (NY office)
SOURCE Qiao Xing Universal Resources, Inc.