Wonder Auto Technology Inc. (WATG) recently announced the appointment of Aijun Jiang as its Chief Financial Officer. Before joining Wonder Auto, Aijun Jiang served as Chief Financial Officer of Qiao Xing Universal Resources, Inc. (XING) for almost three years.
Before that he also worked as the head of finance for Tiens Biotech Group, Inc. for almost three years, and as a consultant (diplomat) in the Economic and Commercial Representation of China in Tanzania, the Economic Section of the Chinese Embassy in Tanzania. While there, Mr. Jiang worked for about two years and was involved in providing commercial and financial consultation to Chinese companies conducting business in Tanzania.
The new appointment made by Wonder Auto is expected to strengthen its senior management team.
Wonder Auto, located in Liaoning, China, designs, develops, manufactures and sells automotive alternators, starters and suspension products through its Chinese subsidiaries. The company was founded in 1996 and is presently China's second-largest manufacturer of alternators and starters.
The company's manufacturing facilities are located in Jinzhou, China. Wonder Auto ranks second in both sales revenues and volumes in the Chinese market for alternators and starters. The company produces 5 different series and over 150 models of alternators, 70 models of starters for sedans and commercial vehicles and various suspension-related parts.
In the month of May, the company received a second non-compliance notice from the Nasdaq Stock Market because of its delay in filing financial reports. The company has not yet filed its earnings statement for the quarter and the fiscal year ending March 31, 2010. The delay in filings was attributed to an ongoing investigation by the company after it was accused of violating federal securities laws.
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