BEIJING, Nov. 29, 2010 /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 Chui Man Lung Everett
to its board of directors, effective from November 26, 2010. Mr. Chui will also serve on
the Company's audit committee.
Mr. Chui Man Lung Everett, is a
member of the Hong Kong Institute of Certified Public Accountants
and the Association of Chartered Certified Accountants and a member
of the Institute of Chartered Accountants in England and Wales. Mr. Chui qualified as a Professional
Accountant with KPMG HK in 1990 and left KPMG in 1993. Before his
departure, he was in charge of audits for banks, fashion retailers
and manufacturers listed on the Main Board of the HKEx, an IPO
audit for a major national corporation and participated in the
restructuring of 2 banking groups. Since then Mr. Chui has worked
on IPO and pre-IPO projects in various industries in China and Hong
Kong before joining Yau Lee Holdings Limited (HKEx: 0406.HK)
as the Financial Controller and Company Secretary. Mr. Chui is a
founding partner of Cen-1 Partners Limited, a firm which provides
professional advisory services for company restructurings, mergers
& acquisitions, pre-IPO companies and fund-raising exercises.
His clients include listed and private companies operating in
China, Hong Kong, South
East Asia and Europe. Mr.
Chui was an independent non-executive director of Cosmopolitan
International Holdings Ltd (HKEx: 0120.HK) from 2002 to 2003 and is
currently an independent non-executive director and Chairman of the
Audit Committee of Wing Hing International (Holdings) Limited
(HKEx: 0621.HK).
Mr. Chui was educated in Hong
Kong and in the United
Kingdom. He holds a Bachelor of Social Sciences (Honours)
Degree in Business Economics & Accounting awarded by the
University of Southampton in the United
Kingdom.
"We are very pleased to have Mr. Chui on board," commented Mr.
Wenhua Guo, Chairman and founder of
Duoyuan Printing. "Our primary concern is that the independent
investigation is completed and we are addressing open topics so
that we can finalize our 10-K filing. Mr. Chui has extensive
experience auditing listed companies and he will be a great asset
as we rebuild investor confidence in Duoyuan Printing and continue
to grow our business."
"I am pleased to be joining Duoyuan Printing at this important
time for the Company," commented Mr. Chui. "I am looking forward to
working closely with Duoyuan Printing's management to support them
as they continue to build strong standards of corporate
governance."
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 schedule and result of our independent
investigation, 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:
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Brunswick
Group
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Henry
Fraser
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Tel:
+86-10-6566-2256
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Email:
duoyuanprinting@brunswickgroup.com
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SOURCE Duoyuan Printing, Inc.