BEIJING, April 9, 2008 /Xinhua-PRNewswire-FirstCall/ -- Sinoenergy Corporation (OTC Bulletin Board: SNEN) (“Sinoenergy” or the “Company”), a leading manufacturer of non-standard pressure containers, compressed natural gas (CNG) filling station, equipment and transportation vehicles, and vehicle fuel conversion kits, and a developer and operator of natural gas processing and retail filling stations in the People’s Republic of China, announced it has engaged Los Angeles based Grobstein, Horwath & Company, LLP as the Company’s independent auditor.
On March 11, 2008, the Company engaged Grobstein, Horwath & Company to serve as the Company’s independent registered accounting firm. Grobstein, Horwath & Company is a member firm of Horwath International, the world’s ninth largest international network of accountants.
The Company’s consolidated financial statements for September 30, 2007, the end of the Company’s fiscal year, and December 31, 2006 were audited by Schwartz Levitsky Feldman, LLP. The audit reports prepared by Schwartz Levitsky Feldman for those periods did not contain any adverse opinions or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. There were no disagreements between Sinoenergy Corporation and Schwartz Levitsky Feldman, LLP.
About Sinoenergy
Sinoenergy Corporation is a leading manufacturer of non-standard pressure containers, compressed natural gas (CNG) filling station, equipment and transportation vehicles, and vehicle fuel conversion kits in China. Sinoenergy also manufactures a wide variety of pressure containers for use in different industries, including the petroleum and chemical industries. The Company is also a growing developer and operator of natural gas processing and retail filling stations. Sinoenergy’s website is http://www.sinoenergycorporation.com .
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, future changes in the wholesale and retail price for CNG for vehicles in China; changes in policy by the national, provincial and municipal government of the PRC regarding CNG prices, the CNG vehicle industry, the construction and operation of retail CNG filling stations and related issues; the Company’s ability to raise additional capital to finance the Company’s activities; the effectiveness, profitability, and the marketability of its products; the future trading of the common stock of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company’s ability to protect its proprietary information; general economic and business conditions; the volatility of the Company’s operating results and financial condition; the Company’s ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For more information, please contact:
Sinoenergy Corporation
Ms. Laby Wu, CFO
Tel: +86-10-8492-8149
Email: labywu@sinoenergycorporation.com
CCG Elite Investor Relations Inc.
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com