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China XD Plastics Retains CCG Investor Relations

Posted on: Monday, 12 January 2009, 07:00 CST

HARBIN, China, Jan. 12 /PRNewswire-Asia-FirstCall/ -- China XD Plastics Company Ltd. ("China XD Plastics" or the "Company"), formerly known as NB Telecom, Inc. (OTC Bulletin Board: NBTE), engaged in the development, manufacturing, and distribution of modified plastic, primarily for use in automobiles, today announced that it has retained CCG Investor Relations to manage and execute its investor relations program.

China XD Plastics, through its operating subsidiary in China, is engaged in the development, manufacturing, and distribution of modified plastic, primarily for use in automobiles. The Company produces specialized plastics that are utilized in the exterior and interior trim and in the functional components of automobiles manufactured by Audi, Red Flag, Volkswagen and Mazda. For the first nine months of 2008 China XD Plastics' revenue was up 177.6% to $55.8 million with gross profit margin of 25%, compared to revenue of $20.1 million with gross profit margin of 20.7% during the first nine months of 2007. Net income for the nine months of 2008 was $11.4 million, up 211.8% from the same period in 2007. China XD Plastics has approximately 39 million shares, and trades on the OTC Bulletin Board under the ticker symbol "NBTE". China XD Plastics currently has 296 full-time employees and is headquartered in Harbin, Heilongjiang Province, in northeast China.

The Company's management team is led by Mr. Jie Han, Chairman, Chief Executive Officer and Chief Financial Officer of the Company, and Mr. Qingwei Ma, Chief Operating Officer and Director, and Mr. Junjie Ma, Head of Research and Director.

"We are a leader in the development, manufacturing, and distribution of modified plastic for automobile applications in China, and we look forward to leveraging our advanced technology to participate in the expected strong growth of the automobile industry in China in the years ahead," said Mr. Jie Han, Chief Executive Officer of China XD Plastics. "We look forward to collaborating with CCG to raise our visibility with the investment community and the financial media."

"The growing middle class with higher standards of living has triggered strong growth in demand for automobiles in China. China XD Plastics is well positioned with the right strategies and a strong management team to capture this opportunity to deliver positive results for its shareholders," commented Crocker Coulson, President of CCG. "We intend to develop an integrated investor relations program to enhance China XD Plastics' profile in the investment community and will also assist the company in meeting the requirements to upgrade to a senior exchange."

About CCG Investor Relations

CCG is a global, full-service investor relations firm, headquartered in Los Angeles, CA, with offices in New York City, NY, Newport Beach, CA, Dallas, TX, Beijing, Shanghai, Shenzhen and Tel Aviv. CCG is uniquely positioned to provide outsourced, high-level investor relations solutions to its clients, combined with an in-depth understanding of Asia's corporate culture and economic environment, to convey their story to funds and broker-dealers located in the U.S. For further information, contact CCG directly, or visit the Company's Web site at http://www.ccgirasia.com .

China XD Plastics Company Ltd.

China XD Plastics Company Ltd., through its wholly owned subsidiary Harbin Xinda Macromolecule Material develops, manufactures, and distributes modified plastics, primarily for use in automobiles. Xinda's specialized plastics are used in the exterior and interior trim and in the functional components of more than 30 automobile brands manufactured in China including Audi, Red Flag, Volkswagen and Mazda. At present, Xinda manufactures approximately 145 types of automobile-specific modified plastic products, 117 of which have been certified for use by one or more of the automobile manufacturers in China.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and the marketability of its products; legal and regulatory risks associated with the share exchange; the future trading of the common stock of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission and available on its website at http://www.sec.gov. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to 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, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

SOURCE China XD Plastics Company Ltd.

Source: PR Newswire

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