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): July 7, 2010
| CHINA XD PLASTICS COMPANY LIMITED |
| (Exact name of registrant as specified in its charter) |
| Nevada | 333-134073 | 04-3836208 |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
No. 9 Qinling Road, Yingbin Road Centralized Industrial Park Harbin Development Zone, Heilongjiang, China 150078 |
| (Address of principal executive officers) |
(Registrant's telephone number, including area code) (86) 451-8434-6600
| Not applicable |
| (Former name or former address, if changed since last report.) |
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):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 7, 2010, the compensation committee of the board of directors of China XD Plastics Company Limited (the “Company”) approved an adjustment in the compensation of Taylor Zhang, the Company’s Chief Financial Officer, pursuant to which Mr. Zhang’s monthly salary was increased from $9,000 to $11,500 effective as of May 1, 2010. In addition, the compensation committee agreed that Harbin Xinda Macromolecule Material Co., Ltd., a wholly owned subsidiary of the Company, should pay any past due and future salary payments owed to Jie Han, the Company’s Chairman and Chief Executive Officer, instead of Favor Sea (US) Inc., a wholly owned subsidiary of the Company.
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.
Dated: July 9, 2010
| | CHINA XD PLASTICS COMPANY LIMITED | |
| | | | |
| | By: | /s/ Jie Han | |
| | | Name: Jie Han | |
| | | Title: Chief Executive Officer | |
| | | | |
