China Sunenergy Acting CFO Yongfei Chen takes permanent role

Yongfei Chen, who has served as acting CFO for China Sunergy since November 2010, has accepted the role of CFO for the company.

The role, which comes into effect immediately, takes the form of an initial three-year contract. He accepted the acting CFO role following the resignation from the post by Siegfried Yi Chou Hsu in November 2010 for personal reasons.

Mr. Chen worked in China Electric Equipment Group (CEEG), an affiliate of China Sunergy, from 2003 to 2010, where he served in roles including general manager of the finance department. A PRC Certified Public Accountant, he worked as an accountant at Yangzhong Sub-branch of China Construction Bank from 1997 to 2002. Mr. Chen has a degree in industrial management engineering from Yanshan University in Hebei, China.

"Mr. Chen has excelled as acting CFO and we are pleased to officially confirm Yongfei Chen's appointment to this key position,” commented Stephen Cai, China Sunergy's CEO. “We will benefit from his knowledge, experience, and network, and we expect that his further service to CSUN will provide us valuable continuity. Chen has the Board's full support to serve in this decision-making role, and we believe he will contribute to our future success."