AGM results and trading update

 

TIDMCBI 
 
RNS Number : 2778T 
China Biodiesel International Hold 
03 June 2009 
 

China Biodiesel International Holding Co., Ltd. 
AGM results and trading update 
The board of directors of China Biodiesel International Holding Co., Ltd.(AIM : 
CBI) ("CBI" or "the Company") is pleased to announce that all the resolutions 
proposed were duly passed at the annual general meeting of the Company ("AGM") 
held earlier today. 
At the AGM the Chairman of the Company, Huodong Ye, made the 
following statement: 
"The challenges faced by the Company in 2008 resulting from the international 
financial crisis have continued into 2009. However we are pleased to report that 
shipments have started to rise since March. Production at the Longyan plant has 
returned to the average level of 2008 and the Xiamen plant was reopened in 
April. Both plants focus on the production of BII, which is used as a 
substitute for petrochemical material and thus has a higher added value over 
normal biodiesel fuel. The total shipment for the first four months of 2009 was 
7,601 tons, this compares to 8,010 tons shipped during the first four months of 
2008. 
The board has seen a recent rises in the price of feedstock which has been 
passed through to customers through increased selling prices. We continue to 
focus on maintaining margins through cost control and secured feedstock supply. 
Overall, the board believes the Company is well placed for the future and 
remains positive on the outlook for 2009. 
For further information: 
Gloria He, CFO: [phone] 
 James Wang, Company Secretary: +86 (592) 
7191109 
Tom Price or Bobbie Hilliam 
 Evolution Securities: [phone] 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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