SHANGHAI, China, Aug. 7 /Xinhua-PRNewswire-FirstCall/ -- Aamaxan Transport Group, Inc. (the “Company” or “ATG”) , through its subsidiaries, including Shanghai Medical Technology Co., Ltd. (“Shanghai Medical”), a PRC company and a leading provider of Hemodialysis equipment (“HDE”) and other related supplies and services, including disposable and diagnostic products, throughout Eastern China, today announced the appointment of Mr. Xu Yifei as the company’s chief financial officer effective August 1, 2008.
For the last six years Mr. Xu has served as Vice President and Chief Operating Officer of Shanghai Medical. Mr. Xu obtained two degrees, including a major in both finance and internal controls, which were earned from Shanghai University of Finance and Economics, and from Shanghai Commerce accounting college in Shanghai PRC, respectively.
Mr. Xu assumed the position as the Company’s CFO on August 1, 2008 and will report directly to Mr. Chen Zhong, CEO of Shanghai Medical. Mr. Xu will be responsible for all financial reporting activities, in addition to managing the Company’s overall financial planning and control activities.
“Mr. Xu will be an integral part of our management team, especially as we seek to increase transparency, raise our corporate governance standards and gain more exposure in the US investment community,” commented Mr. Chen. “I am eager to continue working with Mr. Chen in my new role as CFO to accomplish Shanghai Medical’s goals as a US listed public company,” stated Mr. Xu.
About Shanghai Medical Technology Co., Ltd.
Shanghai Medical is a leading provider of Hemodialysis and renal care equipment, supplies, and related support services in Eastern China. Specifically, Shanghai Medical distributes and sells Hemodialysis equipment (“HDE”) which is mainly used by hospitals and medical facilities and includes machines, dialyzers, disposables and diagnostic products used in Hemodialysis, throughout the People’s Republic of China.
Cautionary Statement Regarding Forward Looking Information
This press release may contain forward-looking information about the Company, Asian Group Management Group Ltd and Shanghai Medical. Forward- looking statements are statements that are not historical facts. 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 each of the entities referred to above. Actual performance results may vary significantly from expectations and projections as a result of various factors, including without limitation and the risks set forth “Risk Factors” contained in the Company’s Current Report on Form 8-K filed on April 21, 2008.
The shares of common stock issued in connection with the transactions have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under the Securities Act and applicable state securities laws or an applicable exemption from those registration requirements. The Company has agreed to file a registration statement covering the resale of the shares of common stock issued in the private placement and certain other shares, within 45 days of closing.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities referenced herein in any jurisdiction to any person.
CONTACT: For the Company, Mr. Chen Zhong, CEO and Chairman,
sphiccz@163.net; Investor Relations, Ted Haberfield, Executive VP of HC
International, Inc., +1-760-755-2716, or thaberfield@hcinternational.net
