Sutor Technology Group Limited Appoints New Chief Executive Officer and Chief Operating Officer

Sutor Technology Group Limited Appoints New Chief Executive Officer and Chief
                              Operating Officer

PR Newswire

CHANGSHU, China, Feb. 13, 2014

CHANGSHU, China, Feb. 13, 2014 /PRNewswire-FirstCall/ --Sutor Technology
Group Limited (the "Company" or "Sutor") (Nasdaq: SUTR), a leading China-based
manufacturer and distributor of high-end fine finished steel products used by
a variety of downstream applications, today announced that its Board of
Directors has appointed Mr. Zhuo Wang to the position of Chief Executive
Officer and Mr. Shoubin Xiong to the position of Chief Operating Officer,
effective February 11, 2014. Ms. Lifang Chen, who resigned from her position
as the Company's CEO due to personal reasons, will remain as the Chairwoman of
the Board of Directors.

Ms. Chen said, "I am very pleased that Sutor's management team is further
strengthened and becomes more dynamic. Mr. Wang has been with Sutor for eight
years and playing a number of important roles in the Company, acting as vice
general manager, vice president, investor relations director and assistant to
the CEO. In the past three years, under my supervision, Mr. Wang participated
in and successfully carried out many strategic decisions of the Company.I am
very excited to hand the reins to Mr. Wang."

"Mr. Xiong has a proven track record and processes extensive technical and
operational expertise. His metallurgical engineering background fits well with
our focus on upgrading and renovating our production lines to not only reduce
operating costs but also introduce new and high margin products to meet the
market demands," Ms. Chen added.

Mr. Wang said, "I would like to thank my very supportive Chairwoman Ms. Chen
and members of the Board. The Company will continue its well-designed strategy
and endeavor to move up the smiling curve by offering high margin products and
integrating downstream supplementary services. I look forward to the
challenges ahead."

Since Mr. Wang joined Sutor in January 2007, he has held a number of
management positions including vice general manager, vice president, investor
relations director and assistant to the CEO. Mr. Wang has extensive work
experience in team building, business management, project management, M&A,
financial analysis and management, investor relations and corporate
governance. Mr. Wang also has expert knowledge of macro-economic analysis and
industrial trend judgment and is involved in the Company's important decisions
making process and implementation supervision. Mr. Wang holds dual B.A.
degrees in accounting and business administration (with honors).

Mr. Shoubin Xiong joined Sutor in February 2012. He serves as general manager
of technical management center of the Company. Mr. Xiong has extensive
experience in production line operations management. During his tenure, he is
in charge of new product research and development, equipment and technical
transformation and daily operations management. From December 2006 to January
2012, Mr. Xiong served as vice general manager of Wuhan Henghong Mechanical
and Electrical Co., Ltd and was in charge of production line budgeting,
installation, testing and operations management. As chief technical engineer
with China First Metallurgical Group Co., Ltd. from July 1990 to December
2005, Mr. Xiong was responsible for production lines installation, budgeting
and equipment maintenance at several large steel mills including Wu Steel and
Guangzhou Iron & Steel Enterprises Group. Mr. Xiong is a senior engineer and
holds Bachelor's degree in metallurgical engineering.

About Sutor Technology Group Limited

Sutor is one of the leading China-based manufacturers and distributors of
high-end fine finished steel products used by a variety of downstream
applications. The Company utilizes a variety of in-house developed processes
and technologies to convert steel manufactured by third parties into fine
finished steel products, including hot-dip galvanized steel, pre-painted
galvanized steel, acid-pickled steel, cold-rolled steel and welded steel pipe
products. To learn more about the Company, please visit
http://www.sutorcn.com/en/index.php.

Forward-Looking Statements

This press release includes certain statements that are not descriptions of
historical facts, but are forward-looking statements. Such statements
include, among others, those concerning our expected financial performance,
liquidity and strategic and operational plans, our future operating results,
our expectations regarding the market for our products, our expectations
regarding the steel market, as well as all assumptions, expectations,
predictions, intentions or beliefs about future events. You are cautioned
that any such forward-looking statements are not guarantees of future
performance and that a number of risks and uncertainties could cause our
actual results to differ materially from those anticipated, expressed or
implied in the forward-looking statements. These risks and uncertainties
include, but not limited to, the factors mentioned in the "Risk Factors"
section of our Annual Report on Form 10-K for the year ended June 30, 2013,
and other risks mentioned in our other reports filed with the Securities
Exchange Commission ("SEC"). Copies of filings made with the SEC are
available through the SEC's electronic data gathering analysis retrieval
system (EDGAR) at http://www.sec.gov. The words "believe," "expect,"
"anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or
similar expressions are intended to identify forward-looking statements. All
statements other than statements of historical fact are statements that could
be deemed forward-looking statements. The Company assumes no obligation and
does not intend to update any forward-looking statements, except as required
by law.

For more information, please contact:

Investor Relations
Sutor Technology Group Limited
Tel: +86-512-5268-0988
Email: investor_relations@sutorcn.com

SOURCE Sutor Technology Group Limited

Website: http://www.sutorcn.com/en/index.php
 
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