GONGYI, China, May 21, 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 it received a letter from NYSE MKT
LLC ("NYSE MKT" or the "Exchange") on May 19, 2014 notifying the Company that it is not
in compliance with Sections 134 and 1101 of the Exchange's Company
Guide (the "Company Guide") because the Company has yet to file its
Form 10-Q for the quarter ended March 31,
2014.
As previously disclosed the Company is in the process of
voluntarily delisting its common stock from the Exchange and
expects to file the Form 25 with the SEC on May 27, 2014. Accordingly, the Exchange expects
to remove the Company's common stock from listing prior to market
open on June 9, 2014.
The NYSE MKT halted trading in the Company's common stock on
May 19, 2014.
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.