DALIAN, China, Sept. 25 /Xinhua-PRNewswire/ --
Energroup Holdings Corporation (OTC Bulletin Board: ENHD), through its direct and indirect subsidiaries known as "Chuming," a Dalian-based processor and supplier of fresh and prepared meat products in China, today announced the appointment of Mr. Yizhao "Philips" Zhang as the Company’s Chief Financial Officer. Consequently, Chuming also announced the departure of Ms. Wang Shu, who tendered her resignation as Chief Financial Officer of the Company effective on September 18, 2008. Ms. Wang will assume role of Corporate Controller for the Company.
"As we look to capitalize on the growing opportunities in consumer goods and in the meat products industry, we view this as an ideal time to strengthen our management team with individuals who bring experience that will be of particular value to Chuming," Mr. Shi Huashan, Chairman and CEO of Chuming, commented. "We believe that Philips’ extensive experience in corporate and financial management will bring the level of expertise needed to successfully lead us to the next stage of our development, and be extremely valuable as Chuming executes on its business strategies and enhances its relationships within the capital markets," Shi concluded.
Mr. Zhang has over 13 years of experience in corporate finance, accounting, financial advisory and portfolio investment. From April 2006 through May 2008, he served an interim position as the Deputy Chief Financial Officer of China Natural Resources, Inc., a NASDAQ-listed company, and then became Chief Financial Officer of another publicly listed company, Shengtai Pharmaceutical, Inc. From April 2005 through April 2006, he was the vice president and senior manager of Chinawe Asset Management Consultancy Limited, a publicly listed company which managed non-performing loan assets in China. Mr. Zhang also worked as a portfolio manager and foreign exchange and common stock trader with the South Financial Service Corporation from 1993-1999.
Mr. Zhang is a Certified Public Accountant certified by the Delaware State Board of Accountancy. He is also a member of the American Institute of Certified Public Accountants (AICPA). He graduated with a Bachelor of Economic Science from Fudan University in 1992. He then participated in a Master of Science Program at Ecole des Hautes Etudes Commerciales (HEC), l’Universite de Montreal in Montreal, Canada. In 2003 he obtained an MBA degree with financial analysis and accounting concentrations from the State University of New York at Buffalo.
About Chuming
We are a Nevada corporation quoted on the OTC Bulletin Board, with our operations based in the Liaoning Province in Northeastern China. Chuming is a leading regional producer and distributor of fresh and prepared meat products in Northeastern China which has a population of approximately 108 million. We operate through our subsidiaries, including Dalian Chuming Slaughter and Packaging Pork Company, Ltd., Dalian Chuming Processed Foods Company, Ltd., and Dalian Chuming Sales Company, Ltd., whose primary focus is on the processing and preparation of pork, the most consumed meat in China. We are a contract supplier of premium pork products to more than 3,600 retail locations in China, including Wal-Mart, Metro, Carrefour, New-Mart, Hymall and its own network of 500+ Chuming-branded franchise stores. Our processing and distribution facilities maintain ISO 9001 Quality Management System standards and carry a Hazard Analysis and Critical Control Point (HACCP) certification. Chuming is the first processing company in China’s meat industry to receive "Green Food" Certification from the Ministry of Agriculture, meeting strict environmental, food safety and quality standards from slaughter to shelf.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking information and statements. Forward-looking statements are statements that are not historical facts, including targeted net income. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and statements which may include discussions of strategy, and statements about industry trends future performance, operations and products of the entities referred to above. Our actual results may differ materially depending on a number of risk factors including, but not limited to, our ability to timely and accurately complete orders for our products, our dependence on a limited number of major customers, political and economic conditions within the PRC, our ability to expand and grow our distribution channels, general economic conditions which affect consumer demand for our products, the effect of terrorist acts, or the threat thereof, on consumer confidence and spending, acceptance in the marketplace of our new products and changes in consumer preferences, foreign currency exchange rate fluctuations, our ability to identify and successfully execute cost control initiatives, and other risks outlined above and in the "risk factors" described in our other public filings. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks factors detailed in our reports filed with the Securities and Exchange Commission. We undertake no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
