Published:
Harbin Electric Chairman Elected as Deputy to the 11th National People's Congress
HARBIN,China, Feb. 15 /Xinhua-PRNewswire-FirstCall/ -- Harbin Electric,
Inc. (or "the Company", Nasdaq: HRBN), a market leader in customized linear
motors, motor/controller automation systems, automobile specialty micro-motors,
and other special motors, today announced that Mr. Tianfu Yang, Chairman of
the Board and CEO, has been elected as a Deputy representing Heilongjiang
Province to the 11th National People's Congress (NPC).
The National People's Congress is the highest state and sole legislative
body in the People's Republic ofChina. Mr. Yang is one of very few
entrepreneurs, Chairman of non-state owned companies, and non-party members to
be elected. His election to the NPC is a highly distinguished recognition
from the community for his exceptional contributions to Society and his
outstanding leadership that has led Harbin Electric to become one of the top
Small and Medium-Sized Enterprises inChina as ranked by Forbes (China)
magazine within a few years.
"I am honored to have been elected by the people of Heilongjiang to the
National People's Congress," said Harbin Electric Chairman and Chief Executive
Officer Tianfu Yang. "This honor and the trust placed in me by the community
recognize not only the leading position of Harbin Electric in technology and
manufacturing but also the company's focus on the environment and social
responsibility inChina. I am very pleased that our contributions and efforts
are being recognized by the local community and the government."
Chairman Yang and Harbin Electric are confident that the Company has the
necessary depth of management to ensure that Chairman Yang's new duties at the
national level will not negatively impact the development and performance of
Harbin Electric.
Chairman Yang added, "Over the past year, we have substantially reinforced
our senior management team with the appointment of a number of highly talented
and experienced executives with diverse expertise. The Board and I are
totally confident in our ability to continue to innovate, build our advanced
technological expertise and create additional value for our shareholders. We
believe that this prominent recognition will positively impact the visibility
of Harbin Electric and its brand name in the markets. "
About National People's Congress
The People's Republic ofChina practices the system of people's congress.
The National People's Congress (NPC) is the highest organ of state power in
China. Deputies to the NPC are elected by the provinces, autonomous regions
and municipalities directly under the Central Government, and by the armed
forces. Candidates for deputies to the people's congress at various levels are
nominated on the basis of electoral districts or electoral units. The
political parties and various organizations may either jointly or separately
recommend candidates for deputies. The number of delegates to the National
People's Congress shall be decided in accordance with the proportion of the
population in each electoral district. At the same time, the allocation
should make sure that there is appropriate representation of all ethnic groups,
people from all walks of life and all political parties within the NPC.
The NPC is elected for a term of five years. It meets in session during
the first quarter each year inBeijing and is convened by the NPC Standing
Committee. The 11th NPC starts in 2008 and the deputies meet in March this
year.
About Harbin Electric, Inc.
Harbin Electric, headquartered in Harbin,China, is a market leader in
linear motors, motor/controller automation systems, automobile specialty
micro-motors, and other special motors. It is the first and currently, to our
knowledge, the only Chinese company to provide product development and
integrated production tailored to customer applications in this industry. The
Company takes pride in its environmental and social policies. It provides
customers with energy efficient products and its employees with a family-
friendly working environment, based on competitive compensation and humane
work schedules.
A strong focus of Harbin Electric is its emphasis on high technology,
innovation and creativity, based on a strong research and development (R&D)
capability. It recruits talent worldwide and through collaboration with top
scientific institutions. Its ISO certified manufacturing facility is equipped
with state-of-the-art production lines and quality control systems to ensure
product quality.
Harbin Electric uses its close customer relationships, its understanding
of local markets and customer needs, and low production costs to outperform
its international and domestic peers. It has steadily improved its
competitive position in the domestic market for linear motors.
China's rapidly expanding economy and government policy supporting the
industry have provided a strong growth platform for Harbin Electric. The
Company has a multifaceted growth strategy that it is successfully executing.
It produces high quality, energy efficient products for customers and has
delivered high annual growth in revenues and earnings to shareholders. To
learn more about Harbin Electric, visit http://www.harbinelectric.com .
For investor and media inquiries, please contact:
Harbin Electric, Inc.
In China
Tel: +86-451-8611-6757
Email: MainlandIR@Tech-full.com
In the U.S.
Christy Shue
Executive VP, Finance & Investor Relations
Tel: +1-631-312-8612
Email: cshue@HarbinElectric.com
SOURCE Harbin Electric, Inc.
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