HONG KONG, May 29 /Xinhua-PRNewswire/ -- China Expert Technology, Inc. (BULLETIN BOARD: CXTI) , an emerging leader in providing large scale network infrastructure construction mainly for e-government projects for communities and municipal governments in China, today announced the appointment of Mr. Xu Ping as an independent non executive member to its board of directors. Mr. Xu's career includes extensive management, merger & acquisition, corporate finance, financial control and analysis experience. From 2001 to 2006, Mr. Xu, age 43, was the Managing Director and Chief Representative at H&Q Asia Pacific where he helped to establish the Company's Shanghai operations while also being responsible for H&Q's private equity business in China. Before that, Mr. Xu was a Corporate Finance Director & Head of China for HSBC Investment Bank and Vice President at JP Morgan. Mr. Xu received a finance and economics degree from Jiangxi University, and is an Ordinary Member of the Hong Kong Securities Institute.
''We are very pleased to welcome Mr. Xu to our board and believe his extensive experience in finance and the capital markets will be invaluable to China Expert as we continue to grow as a U.S. publicly traded company,'' commented Mr. Huang Tao, Chairman of the Board of Directors of China Expert. ''As we have decided to pursue a listing on Nasdaq, we will make more additions to the board to strengthen our corporate governance.''
About China Expert Technology, Inc
China Expert Technology, Inc. ("CXTI") is a company listed on the OTC Bulletin Board in the USA (Trading Symbol: CXTI), with its subsidiaries (collectively the "Group") situated in Hong Kong and China. The group is specialized in providing large-scale network infrastructure construction (mainly e-government projects) for communities and municipal governments in China. The Group also utilizes its network with experts from various universities in China to deploy business and IT consultancy services to corporations in Hong Kong and China. The Group's existing major clients includes municipal governments, government authorities and other technology firms in China. Its income is derived mainly from four areas, e-government, technology achievement appraisal, expert consultation and project database.
Cautionary Statement Regarding Forward Looking Information
Safe Harbor under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission. In addition, words such as "believes," "intends," "expects," "may," "will," "should," "plan," "projected,""contemplates," "anticipates," "estimates," "predicts," "potential," "continue," or similar terminology may indicate forward looking statements. The Company undertakes no obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events, or otherwise. For more information, please contact:
For more information, please contact: For the Company: Investors: Phoebe Lam Matthew Hayden China Expert Technology, Inc. Hayden Communications, Inc. Tel: +852-2802-1555 Tel: +858-704-5065 Fax: +852-2583-9222 Email: Matt@haydenir.com Email: phoebe@chinaexpertnet.com China Expert Technology, Inc.
CONTACT: Phoebe Lam of China Expert Technology, Inc., +852-2802-1555 phoebe@chinaexpertnet.com ; Investors: Matthew Hayden of Hayden Communications, Inc., +1-858-704-5065, Matt@haydenir.com , for China Expert Technology, Inc.
