China New Energy Engages Child, Van Wagoner & Bradshaw as New Independent Auditor
December 09 2008 - 8:00AM
PR Newswire (US)
TIANJIN, China, Dec. 9 /PRNewswire-Asia-FirstCall/ -- China New
Energy Group Company (OTC:CNER) (BULLETIN BOARD: CNER) ("China New
Energy" or the "Company"), a leading energy project developer
specializing in the development of natural gas distribution
networks, and distribution of natural gas in China, today announced
that it has engaged Child, Van Wagoner & Bradshaw, PLLC
("Child, Van Wagoner & Bradshaw"), which replaces Gruber &
Co. LLC ("Gruber & Co.") as its new independent registered
public accounting firm, effective November 27, 2008. The decision
to change accounting firms was recommended, authorized and approved
by the Company's Board of Directors. China New Energy had no
disagreements with Gruber & Company LLC for the term of the
engagement, which included the Company's most recent fiscal year
and the subsequent interim period, on any matter of accounting
principles or practices, financial statement disclosure, or
auditing scope or procedure, which, if they had not been resolved
to Gruber & Co.'s satisfaction, would have caused them to make
reference to any disagreements in their reports on the Company's
financial statements. "We are pleased to engage Child, Van Wagoner
& Bradshaw, with their in depth expertise in working with
international clients as our new independent auditor," commented
Mr. Jiaji Shang, the Company's Chief Executive Officer. "We look
forward to working with them in the future". About China New Energy
Group Company China New Energy Group Company ("China New Energy" or
the "Company") is engaged in the development of natural gas
distribution networks, the distribution of natural gas to
residential and industrial customers in small and mid-sized cities
in China and the exploration and recovery of natural gas reserves.
Currently, the Company, through subsidiaries in China, operates
distribution networks to provide natural gas in the cities of North
China. The Company continues to explore more prospective energy
resources to meet the rapidly increasing demand in China. Safe
Harbor Statement Safe Harbor Statement Under the Private Securities
Litigation Reform Act of 1995: Any statements set forth above that
are not historical facts are forward-looking statements that
involve risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements.
Such factors include, but are not limited to, the Company's ability
to access natural gas for distribution, and ability to identify and
develop operational locations under favorable terms, changes in
natural gas pricing mechanism imposed by the Chinese government,
changes in the regulatory environment and future national or
regional economic and competitive conditions, and other factors
detailed from time to time in the Company's filings with the United
States Securities and Exchange Commission and other regulatory
authorities. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. For more
information, please contact: CCG Investor Relations Mr. Crocker
Coulson, President Tel: +1-646-213-1915 (New York) Mr. Gary Chin
Tel: +1-646-213-1909 Email: Web: http://www.ccgirasia.com/
DATASOURCE: China New Energy Group Company CONTACT: CCG Investor
Relations, Mr. Crocker Coulson, President, +1-646-213-1915 (New
York); or Mr. Gary Chin, +1-646-213-1909, or Web site:
http://www.ccgirasia.com/
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