Zongshen PEM Power Systems Inc.

Zongshen PEM Power Systems Inc.

August 19, 2011 19:47 ET

ZPP Announces Change of Management

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 19, 2011) - Zongshen PEM Power Systems Inc. ("ZPP" or the "Company") (TSX:ZPP) today announced the appointment of Michael Cheung as the Chief Financial Officer. Mr. Cheung was previously the Vice President of Business Development and Investor Relations at the Company. Mr. Cheung will replace Frank Chen who has resigned to pursue other interests.

Prior to joining ZPP, Mr. Cheung was the Chief Financial Officer of PenderFund Capital Management Inc., a mutual fund company based out of Vancouver, BC and an Audit and Assurance Manager at PricewaterhouseCoopers LLP. Michael Cheung is a Chartered Accountant and holds a Master of Business Administration from the Kellogg School of Management at Northwestern University.

"We are pleased to have Michael Cheung as our Chief Financial Officer. He brings a strong background in financial reporting and will be key in executing our growth plans and corporate development initiatives," said Mr. Zongshen Zuo, Chief Executive Officer and Chairman of the Board. "On behalf of ZPP and the board of directors, I would like to thank Frank for his dedication and contribution to the Company in his role as Chief Financial Officer during his three-year tenure. We wish him the very best in all his future endeavors."

About Zongshen PEM Power Systems Inc.

Zongshen PEM Power Systems Inc. is a public company trading under the symbol ZPP on the Toronto Stock Exchange. The Company manufactures gas motorcycles, electric motorcycles, electric bicycles and other e-vehicles in China for the Chinese domestic and international markets. Zongshen PEM Power System's largest shareholder is Zongshen Industrial Group, one of China's largest manufacturers and distributors of engines and power equipment.

Contact Information

  • Zongshen PEM Power Systems Inc.
    Michael Cheung
    Chief Financial Officer
    (604) 687-7908
    (604) 677-7008 (FAX)