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For the last six years Mr. Xu has served as Vice President and ChiefOperating Officer of Shanghai Medical. Mr. Xu obtained two degrees, includinga major in both finance and internal controls, which were earned from ShanghaiUniversity of Finance and Economics, and from Shanghai Commerce accountingcollege in Shanghai PRC, respectively.
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Mr. Xu assumed the position as the Company's CFO on August 1, 2008 andwill report directly to Mr. Chen Zhong, CEO of Shanghai Medical. Mr. Xu willbe responsible for all financial reporting activities, in addition to managingthe Company's overall financial planning and control activities.
"Mr. Xu will be an integral part of our management team, especially as weseek to increase transparency, raise our corporate governance standards andgain more exposure in the US investment community," commented Mr. Chen. "I ameager to continue working with Mr. Chen in my new role as CFO to accomplishShanghai Medical's goals as a US listed public company," stated Mr. Xu.
About Shanghai Medical Technology Co., Ltd.
Shanghai Medical is a leading provider of Hemodialysis and renal careequipment, supplies, and related support services in Eastern China.Specifically, Shanghai Medical distributes and sells Hemodialysis equipment("HDE") which is mainly used by hospitals and medical facilities and includesmachines, dialyzers, disposables and diagnostic products used in Hemodialysis,throughout the People's Republic of China.
Cautionary Statement Regarding Forward Looking Information
This press release may contain forward-looking information about theCompany, Asian Group Management Group Ltd and Shanghai Medical. Forward-looking statements are statements that are not historical facts. Thesestatements can be identified by the use of forward-looking terminology such as"believe," "expect," "may," "will," "should," "project," "plan," "seek,""intend," or "anticipate" or the negative thereof or comparable terminology,and statements which may include discussions of strategy, and statements aboutindustry trends future performance, operations and products of each of theentities referred to above. Actual performance results may vary significantlyfrom expectations and projections as a result of various factors, includingwithout limitation and the risks set forth "Risk Factors" contained in theCompany's Current Report on Form 8-K filed on April 21, 2008.
The shares of common stock issued in connection with the transactions havenot been registered under the Securities Act of 1933, as amended, and may notbe offered or sold in the United States absent registration under theSecurities Act and applicable state securities laws or an applicable exemptionfrom those registration requirements. The Company has agreed to file aregistration statement covering the resale of the shares of common stockissued in the private placement and certain other shares, within 45 days ofclosing.
This press release does not constitute an offer to sell or thesolicitation of an offer to buy any of the securities referenced herein in anyjurisdiction to any person.For more information, please contact: For the Company: Mr. Chen Zhong, CEO and Chairman Email: [email protected] Investor Relations: HC International, Inc. Ted Haberfield, Executive VP Phone: +1-760-755-2716 Email: [email protected]
