A-Power Board Elects Mr. Yanqi Yu as Director; Audit Committee is Reconstituted with Three Independent Directors
A-Power Energy Generation Systems, Ltd. (NASDAQ: APWR) today announced that Mr. Yanqi Yu has been elected by the Company's board of directors as a director, effective July 7, 2011.
With the addition of Mr. Yu, A-Power's directors have reconstituted the Audit Committee of the Board of Directors, with Mr. Yu as chairman of the committee and with Mr. Zhenyu Fan, an existing member of the Committee, and Mr. Jiwei Wang as members. All three are independent directors. A-Power believes that Mr. Yu meets all the qualifications to be an audit committee's financial expert for the purposes of pertinent U.S. reporting obligations.
Mr. Yu is a professor at the Master of Professional Accounting Education Center of Northeastern University of Finance and Economics in China. He is also a visiting professor at the Shenyang Institute of Engineering and adjunct professor at the National Accounting Institute in Beijing, Shanghai, and Xiamen, China.
