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[STK] NASDAQ-NMS:CSUN
[IN] OIL UTI ENV ALT GRE
[SU] PER
TO BUSINESS, ENERGY, AND ENVIRONMENTAL EDITORS:
China Sunergy Announces Resignation of an Independent Director
NANJING, China, March 28, 2014 /PRNewswire/ -- China Sunergy Co., Ltd.
(NASDAQ: CSUN) ("China Sunergy" or "the Company"), a specialized solar
cell and module manufacturer, today announced that Wenze Wang ("Mr.
Wang") has tendered his resignation as an independent director with
effect from March 26, 2014 due to personal reasons. Upon his
resignation, he also ceased to be a member of each of Corporate
Governance and Nominating Committee and Compensation Committee of the
Company. The Company is now in the process of identifying candidates
for replacement independent director.
Mr. Wang confirmed that he had no disagreement with the board and
there was no other matter that needs to be brought to the attention of
the shareholders of the Company in relation to his resignation.
Commenting on Mr. Wang's resignation, Mr. Tingxiu Lu, Chairman of
China Sunergy, said, "On behalf of the Board of Directors, I would
like to thank Mr. Wang for his long-time support of our business, and
the valuable contributions he has made to improve our internal
management and corporate governance."
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. (NASDAQ:CSUN) designs, manufactures and
delivers high efficiency solar cells and modules to the world from its
production centers based in China and Turkey. China Sunergy also
invests in high potential solar projects. Founded in 2004, China
Sunergy is well known for its advanced solar cell technology, reliable
product quality, and excellent customer service.
For more information, please visit http://www.csun-solar.com.
Investor and Media Contacts:
Asia Bridge Group Limited Wendy Sun Phone: + 86-10-8556-9033 Email:
wendy.sun@asiabridgegroup.com
China Sunergy Co., Ltd. CSUN Investor Relations Phone: + 86 25 5276
6696 Email: ir@chinasunergy.com
Safe Harbor Statement
This announcement may contain 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 facts in this announcement are forward-looking statements.
These forward-looking statements are based on current expectations,
assumptions, estimates and projections about the Company and the
industry, and involve known and unknown risks and uncertainties,
including but not limited to, the Company's failure to maintain its
listing qualification due to, among other things, volatility in the
Company's ADS price; the Company's ability to raise additional capital
or renew existing bank borrowings as they become due to finance the
Company's activities; the Company's customers' financial condition and
creditworthiness, and their ability to settle accounts receivables;
the effectiveness, profitability, and the marketability of its
products; litigations and other legal proceedings, including any
decisions by the US International Trade Committee and Department of
Commerce on the petitions filed; the economic slowdown in China and
elsewhere and its impact on the Company's operations; demand for and
selling prices of the Company's products, execution of our strategy to
expand into downstream solar power businesses, 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; future shortage or availability of the supply
of raw materials; impact on cost-competitiveness as a result of
entering into long-term arrangements with raw material suppliers and
other risks detailed in the Company's filings with the Securities and
Exchange Commission. 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, it
cannot assure you that its expectations will turn out to be correct,
and investors are cautioned that actual results may differ materially
from the anticipated results.
SOURCE China Sunergy Co., Ltd.
-0- 03/28/2014
/Web Site: http://www.csun-solar.com
(NASDAQ-NMS:CSUN) /
CO: China Sunergy Co., Ltd.
ST: China
IN: OIL UTI ENV ALT GRE
SU: PER
PRN
-- CN93003 --
0000 03/28/2014 10:00:00 EDT http://www.prnewswire.com
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