TORONTO, Sept. 21 /CNW/ - Boyuan Construction Group, Inc., (TSX-V: BOY & BOY.DB) a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, announced today that John Bai has resigned as a Director of the Company effectively immediately for personal reasons. Mr. Bai also previously served as a member of Boyuan's Corporate Governance, Nomination and Compensation Committee.
"On behalf of the Board and management team, I would like to thank Mr. Bai for his contributions and wish him well with his future endeavors," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group.
Subject to the approval of the TSX-Venture Exchange, Boyuan has appointed Dr. Fang Lixin to its Board of Directors. Dr. Fang is a professor at the Guanghua Law School of Zhejiang University and is active on a number of boards, associations and government committees, including the Zhejiang Real Estate Law Association, Legislative Advisory of Hangzhou People's Congress and the Hangzhou Municipal People's Government. Dr. Fang has also agreed to serve as a member of Boyuan's Corporate Governance, Nomination and Compensation Committee.
"Dr. Fang is a welcomed addition to our Board," Mr. Shou said. "His considerable legal knowledge as well as extensive relationships with community and industry leaders will be tremendous assets in supporting our continued growth."
About Boyuan Construction Group, Inc.
Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of residential and commercial building construction, municipal infrastructure and engineering projects. In its last three fiscal years ended June 30, 2008, Boyuan completed more than 120 projects for a number of private and public sector clients including Cargill and the Dalian Shide Group, a billion dollar conglomerate whose partners include DuPont, Mitsubishi and GE. Boyuan's current projects include residential, industrial and mixed-use developments, including a five-star hotel and a project at the Qingshan Nuclear Plant, China's first and largest nuclear facility. From its operating bases in Zhejiang Province and on Hainan Island, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta and the city of Sanya. More information is available at www.boyuangroup.com.
Caution concerning forward-looking statements
Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
It is important to note that actual outcomes and Boyuan's actual results could differ materially from those in such forward-looking statements. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (1) the failure of Boyuan to execute its business plan, (2) the risks arising from Boyuan's operations generally (such as the ability to secure raw materials, arrange for manufactured products on a timely basis, and maintain an adequate workforce), (3) Boyuan's ability to remain competitive as other parties develop and release competitive projects and services, (4) Boyuan's ability to retain the employees necessary to continue research and development of current and new projects and services, (5) the success by Boyuan of the sales of its projects and services, (6) the impact of competitive products on the sales of Boyuan's projects and services, (7) the impact of technology changes on Boyuan's projects and services, (8) Boyuan's reliance on contractual rights such as licenses and leases in the conduct of its business, (9) general economic conditions as they affect Boyuan and its current and prospective customers, (10) the ability of Boyuan to control costs operating, general administrative and other expenses, and (11) insufficient investor interest in the Boyuan's securities which may impact on Boyuan's ability to raise additional financing as required
Actual future results may differ from the anticipated results expressed in the forward-looking statements contained in this press release and Boyuan does not undertake to update this information. Investors are cautioned against placing undue importance on forward-looking information contained herein and should consult Boyuan's disclosure documents filed from time to time on SEDAR and other public filings which contain a more exhaustive analysis of risks and uncertainties connected to Boyuan's business.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Boyuan Construction Group, Inc.
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