HARBIN, China, Nov. 17 ShuaiyiInternational New Resources Development Inc. (OTC Bulletin Board: SYID)("Shuaiyi" or the "Company"), a leading nutraceutical company focusing on theadvanced technology related to the development of engineered "CordycepsMilitaris" in China, today announced the appointment of Mr. Daniel K. Lee asits new Chief Financial Officer, effective November 16, 2009, to replace Mr.Xianfeng Han, who resigned as the Company's Chief Financial Officer on thesame day. The Company has also entered into a 3.5-year employment agreementwith Mr. Lee, effective November 16, 2009.
Mr. Lee has extensive financial and investment experience with U.S.financial institutions including Morgan Stanley & Co., Roth Capital Partners,and Punk, Ziegel, & Knoell. He is the pioneering Wall Street analyst who firstinitiated equity research coverage on leading US-listed Chinese companies inmajor sectors including meat and dairy processing, IT Services, nanotechnologyand real estate. His management consulting and advisory experience encompassesEuropean and Asian resort and hospitality, consumer digital marketing,e-payment, and aquaculture and seafood. Mr. Lee is a Chartered FinancialAnalyst and a Certified Public Accountant. He has an M.S. in Accountancy fromthe Zicklin School of Baruch College and a B.S. in Economics from The WhartonSchool of the University of Pennsylvania, where he majored in Finance andMultinational Management.
"We are delighted to have Mr. Lee joining our senior management team,"said Ms. Lianyun Han, Chairperson and Chief Executive Officer of Shuaiyi. "Webelieve his strong experience in international capital markets and in-depthunderstanding of the strategic dynamics in the Chinese consumer food marketwill help our company in realizing its full potential as it aims to be aworld-class consumer nutraceutical & beverage company."
Commenting on his appointment, Mr. Lee said, "It is a privilege to bejoining such an outstanding management team under Ms. Han's leadership. Tocomplement Ms. Han's entrenched green food industry experience and (CMO) Mr.Hua Hongbin's stellar sales and marketing track record in building China's topconsumer beverage brands, I will utilize my experience in capital markets andconsumer foods to help accelerate the Company's execution of its downstreamstrategy that should translate into expanding gross margins in the Company'snutraceutical product segment and exponential volume growth in its consumerbeverage business."
Shuaiyi is a leading nutraceutical company focusing on the advancedtechnology related to the development of engineered "Cordyceps Militaris" inChina. The Company specializes in developing, processing, marketing anddistributing a variety of agricultural and nutraceutical products consistingof dry Cordyceps Militaris, organic and specialty food products. The Company'sprimary product is dry engineered Cordyceps Militaris. The Company believes itis the largest manufacturer of engineered Cordyceps Militaris in China, rankedby volume, according to China Market Monitoring Center (CMMC), accounting for19% market share in China. Cordyceps Militaris is a species of parasiticfungus that is typically found in north-eastern mountainous China. Theproducts of Shuaiyi are sold throughout China via a distribution network thatcovers more than 10 provinces. More information may be found athttp://www.syxny.net or e-mail: [email protected]
Safe Harbor Statement
This news release contains forward-looking statements. Forward-lookingstatements include statements concerning plans, objectives, goals, strategies,future events or performance, and underlying assumptions and other statementsthat are other than statements of historical facts. These statements aresubject to uncertainties and risks including, but not limited to, product andservice demand and acceptance, changes in technology, economic conditions, theimpact of competition and pricing, government regulation, and other riskscontained in reports filed by the Company with the Securities and ExchangeCommission. All such forward-looking statements, whether written or oral, andwhether made by or on behalf of the Company, are expressly qualified by thecautionary statements and any other cautionary statements which may accompanythe forward-looking statements. You should not place undue reliance on theseforward-looking statements, which speak only as of the date of this pressrelease. Other than as required under the securities laws, the Company doesnot assume a duty to update any forward-looking statements to reflect eventsor circumstances after the date hereof.For more information, please contact: Shuaiyi International New Resources Development Inc. Daniel K. Lee, CFO Tel: +86-451-8228-7746 Email: [email protected]
Yudi Zhao, Board Secretary Tel: +86-451-8228-7746 Email: [email protected]
SOURCE Shuaiyi International New Resources Development Inc.