UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): June 3, 2017
CLEANTECH SOLUTIONS INTERNATIONAL, INC.
(Exact name of registrant as specified in Charter)
| Nevada | 001-34591 | 90-0648920 | ||
(State
or other jurisdiction of |
(Commission File No.) | (IRS
Employee Identification No.) |
No. 9 Yanyu Middle Road
Qianzhou Village, Huishan District, Wuxi City
Jiangsu Province, People’s Republic of China
(Address of Principal Executive Offices)
(86) 51083397559
(Registrant’s Telephone number)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 3, 2017, the board of directors (the “Board’) of Cleantech Solutions International, Inc. (the “Company”) approved the appointment of Parkson Yip as Chief Operating Officer of the Company, effective immediately.
Parkson Yip is a seasoned executive with over 20 years of industry experience. Prior to joining the Company, Mr. Yip served as Co-Chairman and Executive Director of Share Economy Group from November 2016 to April 2017 where he managed business development and merger and acquisition (“M&A”) activities of the company. Prior to Share Economy Group, Mr. Yip served as Managing Director of ECrent Worldwide Company Limited from December 2014 to November 2016 where he managed online platform developments, business developments and M&A activities. From December 2005 to January 2014, Mr. Yip served as Managing Director of 88DB Hong Kong Limited where he managed worldwide operations of the company’s online platforms, including product development, strategic partnership and marketing strategies. Mr. Yip also served as Chief Technology Officer of Guangzhou Ruixin Technology from December 2002 to November 2005. Prior to becoming a corporate executive, Mr. Yip worked as a software engineer at GeoTel Communications Corporation and Lotus Development. He has also served as a director of ECrent (America) Company Limited since August 2016. Mr. Yip holds a Bachelor’s degree in Computer Engineering from Boston University.
No family relationships exist between Mr. Yip and any of the Company's other directors or executive officers. There are no arrangements between Mr. Yip and any other person pursuant to which Mr. Yip was appointed as an officer of the Company. There are no transactions to which the Company is or was a participant and in which Mr. Yip has a material interest subject to disclosure under Item 404(a) of Regulation S-K.
A copy of the Press Release announcing Mr. Yip’s appointment is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press Release, dated June 7, 2017 |
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: June 7, 2017 | Cleantech Solutions International, Inc. | |
| By: | /s/ Jianhua Wu | |
| Jianhua Wu | ||
| Chief Executive Officer | ||
3
Exhibit 99.1
Cleantech Solutions International Names Parkson Yip as Chief Operating Officer
Wuxi, Jiangsu Province, China – June 7, 2017 – Cleantech Solutions International, Inc. (“Cleantech Solutions” or “the Company”) (NASDAQ: CLNT) today announced that Parkson Yip has been appointed to the new role of chief operating officer. Mr. Yip will report to Mr. Jianhua Wu, chairman and chief executive officer of Cleantech Solutions.
Mr. Yip has more than 20 years of experience in the information technology and internet media sectors, in both business and technical positions. Prior to joining Cleantech Solutions, he served as co-chairman and executive director of Share Economy Group (HKSE: 1178), which acquired the ECrent sharing economy platform in Hong Kong in 2016. He also served as managing director for ECrent Worldwide Company Limited, a subsidiary of ECrent Holdings Limited, from 2014 through 2016. From 2005 to 2014, Mr. Yip was managing director for 88DB Hong Kong Limited (previously JobsDB), an interactive classified ad platform in Asia. Prior to that, he held various technical positions including chief technology officer at Guangzhou Ruixin Technology, senior software engineer at GeoTel Communications Corporation which was acquired by Cisco Systems in 1999, and software engineer at Lotus Development which was acquired by IBM in 1995. Mr. Yip holds a Bachelor of Science in Computer Engineering from Boston University.
“Parkson’s breadth of experience in driving the development of sharing economy platforms and M&A in the technology, media and telecommunications sector are a welcome addition to the Cleantech Solutions team. I believe his technical and business acumen will serve the Company well as we pursue new business initiatives and set the stage for future growth,” said Mr. Wu.
“I look forward to leading Cleantech Solutions initiatives as we seek to reduce the carbon footprint by encouraging waste reduction,” said Mr. Parkson Yip, COO of Cleantech Solutions.
About Cleantech Solutions International
Cleantech Solutions, through its affiliated companies, designs, manufactures and distributes a line of proprietary high and low temperature dyeing and finishing machinery to the textile industry.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary and affiliated companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website, including factors described in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Form 10-K for the year ended December 31, 2016 and in our Form 10-Q for the quarter ended March 31, 2017. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
Company Contacts:
Cleantech Solutions International, Inc.
May Liu, Investor Relations
E-mail: ir@cleantechsolutionsinternational.com
+852-31060372
Web: www.cleantechsolutionsinternational.com
Compass Investor Relations
Elaine Ketchmere, CFA
Email: eketchmere@compass-ir.com
+1-310-528-3031
Web: www.compassinvestorrelations.com
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