8888 Acquisition Corporation (PINK:EGHA) today announced that the Company appointed Mr. Peter Chen as Chengchang Shoes' new Vice President of Finance. Shares of 8888 Acquisition closed on February 24, 2011, at $1.02 per share. The Company has a market cap of $35 million and a 52-week range between $0.07 and $5.00 per share."I am very pleased to join Chengchang shoes at this exciting stage in its corporate history and look forward to helping the Company solidify its position as one of China's leading manufactures of innovative, high-quality shoe soles and related products," commented Mr. Chen, Cheng Chang Shoes' newly appointed Vice President of Finance.
"We welcome Mr. Chen to join in our team with his valuable knowledge in the financial industry," said Mr. Guoqing Zhuang, the Chairman and CEO of Chengchang Shoes, "with his extensive experience and expertise, we looking forward to continuing to strengthen our financing team, promoting Chengchang Shoes and building the value for shareholders."
The Company, through its wholly owned subsidiary, Jinjiang Chengchang Shoes Co., Ltd, is a designer and producer of high quality soles marketed to manufacturers of athletic and leisure shoes in China. The Company categorize its sole products into three primary product lines: (i) EVA, or ethylene vinyl acetate, sole products; (ii) RB, or synthetic rubber, sole products; and (iii) EVO, or EVO outsole, products which are an outgrowth of its EVA product line that is designed to be more abrasive resistance and lighter and softer than EVA product line. The Company also offers EVO compound pellet products.
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