NANJING, China, Jan. 6,
2016 /PRNewswire/ -- China Sunergy Co., Ltd. (Nasdaq:
CSUN) ("China Sunergy" or the "Company"), a specialized solar cell
and module manufacturer, today announced that Dr. Jianhua Zhao and Mr. Xiaoqian Zhou resigned from their positions as
directors of the Company. Their resignations took effect on
December 29, 2015. Mr. Zhou's
resignation was due to personal reasons. Upon the resignations
of both Dr. Zhao and Mr. Zhou, the Company continues to be
comprised of a majority of independent directors as required by
Nasdaq Listing Rules. Their resignations did not arise from any
disagreement with or any matter relating to the Company's
operations, policies or practices. Dr. Zhao will continue to serve
as the chief technology officer of the Company. Concurrently with
Mr. Zhou's resignation, Mr. Hong
Cheng has also served as a member in audit committee. The
board of directors respects their decisions to resign and extends
great appreciation for their dedicated services and contributions
to China Sunergy over the years.
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. (NASDAQ:CSUN) designs, manufactures and
delivers high efficiency solar cells and modules to the world from
its production centers based in China and Turkey. China Sunergy also invests in high
potential solar projects. Founded in 2004, China Sunergy is well
known for its advanced solar cell technology, reliable product
quality, and excellent customer service.
For more information, please visit
http://www.csun-solar.com.
Contact Information:
China Sunergy Co., Ltd.
Wang Zhuo
Phone: + 86 25 5276 6696
Email: ir@chinasunergy.com
Safe Harbor Statement
This announcement may contain 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 facts in this announcement are forward-looking
statements. These forward-looking statements are based on current
expectations, assumptions, estimates and projections about the
Company and the industry, and involve known and unknown risks and
uncertainties, including but not limited to, the Company's failure
to maintain its listing qualification due to, among other things,
volatility in the Company's ADS price; the Company's ability to
raise additional capital or renew existing bank borrowings as they
become due to finance the Company's activities; the Company's
customers' financial condition and creditworthiness, and their
ability to settle accounts receivables; the effectiveness,
profitability, and the marketability of its products; litigations
and other legal proceedings, including any decisions by the US
International Trade Committee and Department of Commerce on the
petitions filed; the economic slowdown in China and elsewhere and its impact on the
Company's operations; demand for and selling prices of the
Company's products, execution of our strategy to expand into
downstream solar power businesses, the future trading of the common
stock of the Company; the ability of the Company to operate as a
public company; the Company's ability in maintaining its liquidity;
the period of time for which its current liquidity will enable the
Company to fund its operations; 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; future shortage or availability of the supply of raw
materials; impact on cost-competitiveness as a result of entering
into long-term arrangements with raw material suppliers and other
risks detailed in the Company's filings with the Securities and
Exchange Commission. 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, it cannot assure you that its expectations will turn
out to be correct, and investors are cautioned that actual results
may differ materially from the anticipated results.
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SOURCE China Sunergy Co., Ltd.