NEW YORK and HARBIN, China, April 29, 2010 (GLOBE NEWSWIRE) -- China Digital Animation Development, Inc. (OTCBB:CHDA) has appointed Shaoqiu Xia to the Board of Directors, replacing Hu Yumei who will continue as Chief Financial Officer. As a result, the board consists of 5 directors.
Shaoqiu Xia brings an extensive background to his new role as a board member for China Digital Animation. Since 1993, Mr. Xia has been Deputy Secretary in the Government of the City of Harbin, China and has simultaneously held a board position at Advanced Battery Technologies, Inc. (Nasdaq:ABAT). During the eight years prior to his employment with the government, Mr. Xia was president of Harbin Electrical and Mechanical Production Company where he oversaw all aspects of the company's operations. He received a Bachelors Degree in Science in 1967 from the Shenyang Industrial University.
Mr. Qiang Fu, Chairman and Chief Executive Officer, commented, "Shaoqiu's experience spans both business and government, which makes him an especially important and well rounded addition to our team as we move toward the next phase in China Digital's evolution. Shaoqiu's business acumen, expertise in government affairs as they pertain to businesses in China and his extensive contacts will be beneficial to China Digital in the coming months and years. We look forward to his contributions and welcome him on board."
With the addition of Mr. Xia to the board of directors, the company now meets most of the requirements to uplist to a more senior national stock exchange and plans to do so in the near future.
About China Digital Animation Development, Inc.
China Digital Animation Development, Inc. is a premier China-based digital animation development company, operating in Harbin (one of the largest animation development centers in China) as well as Beijing in The People's Republic of China. The Company also has an administrative office in New York City. The Company is engaged in animation post-stage processing, animation outsourcing, and information transmission services. The Company also operates an animation development skills training center located in Harbin, China, which provides its students with different types of animation skill training programs such as motion graphics, product modeling, character animation, and more. The Company's technical team has extensive experience in animation production and outsourcing.
Safe Harbor Statement
In addition to historical information, this press release contains forward-looking statements, which are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans to," "estimates," "projects," or similar expressions. These forward-looking statements represent Management's belief as to the future of China Digital Animation Development, Inc. Whether those beliefs become reality will depend on many factors that are not under Management's control. Many risks and uncertainties exist that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in Section 1A: "Risk Factors" In the Company's Annual Report on Form 10-K for the year ended June 30, 2009. Readers are cautioned not to place undue reliance on these forward-looking statements. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements.