XI'AN, China, Aug. 10 /PRNewswire-Asia/ -- China Natural Gas, Inc. ("China Natural Gas" or the "Company") (Nasdaq: CHNG), a leading provider of compressed natural gas (CNG) for vehicular fuel and pipeline natural gas for industrial, commercial and residential use in Xi'an, China, today announced that due to a slight delay in finalizing its quarterly financial report, the Company has filed for a 5-day extension with the SEC and will file its Form 10-Q for the second fiscal quarter ended June 30, 2010 post-market on Friday, August 13. The Company will announce its second quarter financial results on Friday, August 13, after the market closes. The quarterly earnings conference call has been scheduled for Monday, August 16 at 8:30 a.m. EDT (5:30 a.m. Pacific).
The Company apologizes to its shareholders for the delay. In the interest of providing complete, accurate financial results to the marketplace, the Company thought it prudent to file for an extension rather than release premature financial results.
To participate in the conference call, please dial 1-877-941-2068, or
1-480-629-9712 for international calls, approximately 10 minutes prior to the scheduled start time. Interested parties can also listen via a live Internet webcast, which can be found at the Company's website at http://www.naturalgaschina.com or alternately via the following link: http://viavid.net/dce.aspx?sid=0000793C
A replay of the call will be available for two weeks from 11:30 a.m. August 16, 2010, EDT until 11:59 p.m. EDT on August 30, 2010. The number for the replay is 1-877-870-5176, or 1-858-384-5517 for international calls; the pin number for the replay is 4344157. In addition, a recording of the call will be available via the company's website at http://www.naturalgaschina.com for one year.
About China Natural Gas, Inc.
China Natural Gas transports and sells natural gas to vehicular fueling terminals, as well as commercial, industrial and residential customers through its distribution networks in China's Shaanxi and Henan Provinces. The Company owns approximately 120 km of high-pressure pipelines and operates 25 CNG fueling stations in Shaanxi Province and 12 CNG fueling stations in Henan Province. China Natural Gas' four primary business lines include: (1) the distribution and sale of CNG through Company-owned CNG fueling stations for hybrid (natural gas/gasoline) powered vehicles; (2) the installation, distribution and sale of piped natural gas to residential, commercial and industrial customers through Company-owned pipelines; (3) the distribution and sale of gasoline through Company-owned CNG fueling stations for hybrid (natural gas/gasoline) powered vehicles; and (4) the conversion of
gasoline-fueled vehicles to hybrid (natural gas/gasoline) powered vehicles through its auto conversion division.
Forward-Looking Statements
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. For example, statements about the future plans and goals of the JV with CNPC and its prospects are forward looking and subject to risks. China Natural Gas, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 10-K, 10-Q and 8-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to fourth parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, risks outlined in the Company's filings with the U.S. Securities and Exchange Commission, including its registration statements on Forms S-1 and S-3, in each case as amended. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
This release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.
For more information, please contact:
China Natural Gas Inc.
Jacky Shi
IR Director
Tel: +86-29-8832-3325 x922
Cell: +86-139-9287-9998
Email: yjshi@naturalgaschina.com
Investor Relations:
Alexander Nachman
RedChip Companies, Inc.
Tel: +1-800-733-2447 x118
Email: alex@redchip.com
Web: http://www.RedChip.com
