GONGYI, China, April 18, 2014 /PRNewswire/ -- China GengSheng
Minerals, Inc. (NYSE MKT: CHGS) (the "Company" or "GengSheng"), a
leading China-based high-tech
industrial materials manufacturer producing heat-resistant,
energy-efficient materials for a variety of industrial
applications, today announced that its audited consolidated
financial statements for the fiscal year ended December 31, 2013, included in the Company's
Annual Report on Form 10-K, which was filed on April 15, 2014 with the Securities and Exchange
Commission, contains an audit opinion from its independent public
accounting firm which includes explanatory language related to
going concern resulting from the Company's working capital
deficiency at December 31, 2013 and a
net loss for the year ended December 31,
2013.
This announcement is made pursuant to NYSE MKT Company Guide
Section 610(b), which requires separate disclosure of receipt of an
audit opinion containing going concern explanatory language.
About China GengSheng Minerals, Inc.
China GengSheng Minerals, Inc. ("GengSheng") develops,
manufactures and markets a broad range of high-tech industrial
material products, including monolithic refractories, industrial
ceramics, fracture proppants and fine precision abrasives. A market
leader offering customized solutions, GengSheng sells its products
primarily to the iron and steel industry as heat-resistant
components for steel-making furnaces, industrial kilns and other
high-temperature vessels to guarantee and improve the productivity
of those expensive pieces of equipment, while reducing their
consumption of energy. Founded in 1986 and based in China's Henan
province, GengSheng currently has over 300 customers in the iron,
steel, oil, glass, cement, aluminum, chemical and solar industries
located in China and other
countries. GengSheng conducts business through GengSheng
International Corporation, a British
Virgin Islands company, and its Chinese subsidiaries, which
are Henan GengSheng Refractories Co., Ltd., Zhengzhou Duesail
Fracture Proppant Co., Ltd., Henan GengSheng Micronized Powder
Materials Co., Ltd, Guizhou Southeast Prefecture GengSheng New
Materials Co., Ltd, Henan GengSheng High Temperature Materials Co.,
Ltd. and Henan Yuxing Proppant Co., Ltd.
For more information about the Company, please visit
http://www.gengsheng.com .
For more information, please contact:
China GengSheng Minerals, Inc.
Investor Relations
Mr. Shuai Zhang
ir@gengsheng.com
+86-371-6405-9846
SOURCE China GengSheng Minerals, Inc.