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China Medicine appoints Richard Wu as CFO, Robert Lu as finance manager

China Medicine Corporation has appointed Richard P. Wu as its new chief financial officer, effective August 25, 2009. Wu replaces Huizhen Yu, who had served as CFO of China Medicine since February 2006.

Yu now serves as controller of the company and its subsidiaries, including our wholly-owned operating subsidiary, Guangzhou Konzern Medicine Co., Ltd.

In addition, the company also appointed Robert Lu to a newly created position of finance manager, which involves cash planning, internal and external reporting, tax planning and capital budgeting.

Wu has over 14 years of experience in accounting and finance both in China and the U.S. including financial reporting, disclosure and regulatory compliance, financial planning, taxation, and debt and equity financing. Wu also has a strong legal background as a practicing lawyer in China from 1987 to 1992.
Prior to joining China Medicine, Wu was CFO and executive vice president of China Natural Gas, Inc., a NASDAQ Global-listed company, from 2008 to 2009. From January 2004 to May 2007 he was CFO and corporate senior vice president of The AlliancePharm U.S. LLC's China operations, where he had full finance and accounting responsibility for the sourcing and contract manufacturing business for active pharmaceutical ingredients and managed a finance and accounting team of over 100 people.

From December 1999 to December 2003, Wu was CFO and Corporate EVP of MeetChina.com Inc.'s China business, an online cross-border ecommerce portal in China. From October 1997 to December 1999, he was senior director of Finance and VP Investment of the Paging Products Group in Greater China of Motorola Inc., a New York Stock Exchange-listed company. He also served as Investment Banking Associate and Vice President of Lehman Brothers Inc.'s New York and Hong Kong offices from 1995 to 1997.

Wu graduated from the Wharton School, University of Pennsylvania in 1995 with an MBA degree in finance and accounting. He received a Master of Justice Administration degree from Indiana University in 1993, and a Master of Law degree from China University of Political Science and Law in 1987. Wu obtained a Bachelor of Arts degree from Zhengzhou University, China, in 1985 and is fluent in English and Mandarin.

Meanwhile, Robert Lu has over six years of experience in finance and accounting and most recently served as international and regional tax manager for Huawei Technologies Co., Ltd, a global telecommunications provider based in Shenzhen, China. He holds a bachelor's degree in accounting from the Harbin Institute of Technology and is fluent in both English and Mandarin.

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