Diguang International Appoints Jerry Yu Chief Operating Officer
International Development Co., Ltd. (OTC Bulletin Board: DGNG) (“Diguang” or
“the Company”) announced that
Chief Operating Officer, effective
(Logo: http://www.newscom.com/cgi-bin/prnh/20070830/CNTH005LOGO )
Prior to joining Diguang International, Mr. Yu served as the chief
executive officer and a director of Shenzhen Baotian Investment Development Co.
Ltd., a holding company with investments in real estate development, property
management and business acquisitions. From 2001 to 2003, Mr. Yu served as the
president and a director of Beijing Hai Hua Aquaculture, Ltd., an aqua-
business specializing in high-intensity indoor shrimp farming which provides
turn-key operation to customers, from feasibility studies, company set-up and
site selection to factory design and construction, equipment importation and
engineering services, as well as management, employee training and technology
transfer.
Between 1992 and 2001, Mr. Yu was CEO and Director of Fair Fund Industrial
Group, Ltd., a
in real estate development, construction, property and service apartment
management, food and entertainment services, manufacturing and import/export
trading. In this position, he successfully negotiated several large-scale
investments involving Chinese and foreign financial institutions. Among prior
positions, he has also held responsibility for accounting, finance and
administration for a Da Shung Construction company subsidiary that was the
third largest light bulb and lighting fixture manufacturer in
gained audit experience in the 1980s with
firms Johnson & Grover, Laventhal & Horwath and the former Ernst & Ernst.
Mr. Yu holds a Bachelor’s Degree in Science, with a major in Accounting,
from the
Taxation from the
Accountant and a member of the AICPA.
“We are pleased at the opportunity to tap into
extensive experience,” stated
of Diguang. “He has international experience, language skills, a leadership
track record and management know-how that should serve us well. We look
forward to benefiting from his insights and contributions as our Chief
Operating Officer. At the same time, we thank Mr.
as COO and believe that his in-depth knowledge of our company and industry
will yield us valuable dividends as he takes on his new portfolio of
responsibilities as Vice President.”
Mr. Yu replaces Mr.
has been appointed as a Vice President of the Company in charge of internal
controls, external affairs, engineering projects, and the
Dihao subsidiaries of the Company. Mr. Song, a director of the Company, is a
younger brother of the Chief Executive Officer, President and Chairman of the
Board Song Yi.
appointments, we will also make changes aimed at cost savings. As of the
beginning of 2009, my salary will be reduced by 30% until one year after the
Company records a profit, and the salary of
About Diguang International Development Co., Ltd.
Diguang, through its subsidiaries, specializes in the research,
development, production, sale and distribution of backlights and backlight
technologies. A backlight is the typical light source of a liquid crystal
display (LCD). The Company is focused on providing LED and CCFL backlights
for international producers of televisions, monitors, cellular phones, digital
cameras, DVDs and other home appliances. Diguang currently develops an
average of approximately 50 new products per month. The Company also develops
energy-saving technologies and solutions for rapidly growing LED general
lighting markets and offers a new line of mini-notebook computers. Diguang is
a
PRC, and its sales and marketing subsidiary located in the
Islands
Safe Harbor Statements
This press release contains forward-looking statements made under the
“safe harbor” provisions of the U.S. Private Securities Litigation Reform Act
of 1995. Forward looking statements are based upon the current plans,
estimates and projections of Diguang’s management and are subject to risks and
uncertainties, which could cause actual results to differ from the forward
looking statements. Therefore, you should not place undue reliance on these
forward-looking statements. The following factors, among others, could cause
actual results to differ from those set forth in the forward-looking
statements: future performance of Company executives, market performance of
Diguang International’s products, business conditions in
natural disasters, changing interpretations of generally accepted accounting
principles; outcomes of government reviews; inquiries and investigations and
related litigation; continued compliance with government regulations;
legislation or regulatory environments, requirements or changes adversely
affecting the businesses in which Diguang is engaged; fluctuations in customer
demand; management of rapid growth; intensity of competition from other
providers of backlights; timing approval and market acceptance of new product
introductions; general economic conditions; geopolitical events and regulatory
changes, as well as other relevant risks, including but not limited to risks
outlined in the Company’s periodic filings with the U.S. Securities and
Exchange Commission. Diguang does not assume any obligation to update the
information contained in this press release.
For more information, please contact:
Company Contact:
Viola Tse
Diguang International Development Co., Ltd.
Tel: +1-626-593-5486
Investor Relations Contact:
Sean Collins, Senior Partner
CCG Investor Relations
Tel: +1-310-477-9800 x202
Web: http://www.ccgasia.com
SOURCE Diguang International Development Co., Ltd.