BEIJING, Sept. 27 /PRNewswire-Asia-FirstCall/ -- Duoyuan
Printing, Inc. (NYSE: DYP) ("Duoyuan Printing" or the "Company"), a
leading offset printing equipment supplier in China, today announced the appointment of Sik
Siu Kwan to its board of directors, effective from September 26, 2010. Mr. Sik will also serve on
the Company's audit committee.
Mr. Sik has more than twenty years of experience in investment
banking and finance. Mr. Sik is an independent non-executive
director of Simcere Pharmaceutical Group and China Nepstar Chain
Drugstore Limited, both listed on the New York Stock Exchange. He
is also an independent non-executive director of China Glass
Holdings Limited, a company listed on the Hong Kong Stock Exchange.
He has held senior positions with DBS Asia Capital Limited and
Mitsubishi UFJ Securities (HK) Limited, as well as ICEA Capital
Limited, the investment banking arm of ICBC, where he was
responsible for business development and regional business
operations. Mr. Sik obtained both a Bachelor's degree in
engineering with first class honors and a Master's degree from
Oxford University in 1989 and 2006
respectively. He is a member of The Institute of Chartered
Accountants in England and
Wales and a fellow member of the
Hong Kong Institute of Certified Public Accountants.
"Our management team welcomes Mr. Sik to the board," commented
Mr. Wenhua Guo, Chairman and founder
of Duoyuan Printing. "Our first priority will be to work closely
with the audit committee to address open topics and finalize our
10-K filing. I am confident that Mr. Sik has the ideal range of
experience to help us rebuild investor confidence in Duoyuan
Printing and assist us as we grow our business."
"I am excited to join Duoyuan Printing at this critical time for
the Company," commented Mr. Sik. "Duoyuan Printing's management are
committed to high standards of corporate governance and I will be
working to help them achieve and maintain these standards going
forward."
About Duoyuan Printing
Duoyuan Printing (NYSE: DYP) is a leading manufacturer of
commercial offset printing presses in China. The Company combines technical
innovation and precision engineering to offer a broad range of
printing equipment and solutions. Duoyuan Printing has
manufacturing and research and development facilities in Langfang,
Hebei Province and Shaoyang,
Hunan Province in addition to a
distribution and service network with over 85 distributors that
operate in over 65 cities and 28 provinces in China. Headquartered in Beijing, the Company is one of the largest
non-government owned major offset printing equipment and solutions
providers in China. For further
information, please visit Duoyuan Printing's website
http://www.duoyuan.com .
Safe Harbor Statement
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 that involve
risks, uncertainties and assumptions. All statements other than
statements of historical fact in this press release are
forward-looking statements, including but not limited to, our
future financial condition, our expected corporate governance
improvements, the future growth of our business, our ability to
resolve open audit issues and schedule of the filing of our annual
report. These forward-looking statements are based on management's
current expectations, assumptions, estimates and projections about
the Company and the industry in which the Company operates, but
involve a number of unknown risks and uncertainties, including,
without limitation, our ability to sustain our recent profitability
and growth rates, our ability to retain an independent registered
public accounting firm, the possibility that we may not meet our
strategic goals or may develop other priorities, and other risk
factors detailed in our Annual Report on Form 10-K for the fiscal
year ended June 30, 2009 and in our
subsequent reports on Form 10-Q filed with the Securities and
Exchange Commission and available at http://www.sec.gov. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or 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 such expectations will turn out to be correct, and actual
results may differ materially from the anticipated results. You are
urged to consider these factors carefully in evaluating the
forward-looking statements contained herein and are cautioned not
to place undue reliance on such forward-looking statements, which
are qualified in their entirety by these cautionary statements.
For investor and media enquiries please contact:
Brunswick Group
Henry Fraser
Tel: +86-10-6566-2256
Email: duoyuanprinting@brunswickgroup.com
SOURCE Duoyuan Printing, Inc.
Copyright . 27 PR Newswire