XI’AN, China, Sept. 2 /Xinhua-PRNewswire/ -- China Recycling Energy Corp. (OTC Bulletin Board: CREG) ("CREG" or "the Company"), a leading industrial waste-to-energy solution provider in China, today announced it has retained SEC AuditPrep Limited ("SEC AuditPrep") to provide consulting services related to the Company’s Sarbanes-Oxley Section 404 ("SOX 404") compliance efforts, effective immediately.
"Working with professionals to comply with SOX 404 will help ensure CREG meet the appropriate standards for financial reporting," said Mr. Guangyu Wu, CEO of CREG. "SEC AuditPrep will provide us with independent internal control risk consulting. We are privileged to use their knowledge of finance and accounting and we are committed to establishing and maintaining an effective system of compliance with applicable SEC regulations and SOX 404 rules."
SEC AuditPrep is a Corporate Financial Services Company based both in Hong Kong and the United States. It provides clients with SOX 404 Compliance, Financial Reporting Process, SEC Regulatory Reporting and Financial Advisory Services. Its clients are mainly U.S.-listed Chinese companies.
About China Recycling Energy Corp.
China Recycling Energy Corp. (OTC Bulletin Board: CREG) ("CREG" or "the Company") is based in Xi’an, China and provides environmentally friendly waste-to-energy technologies to recycle industrial byproducts for steel mills, cement factories and coke plants in China. Byproducts include heat, steam, pressure, and exhaust to generate large amounts of lower-cost electricity and reduce the need for outside electrical sources. The Chinese government has adopted policies to encourage the use of recycling technologies to optimize resource allocation and reduce pollution. Currently, recycled energy represents only an estimated 1% of total energy consumption and this renewable energy resource is viewed as a growth market due to intensified environmental concerns and rising energy costs as the Chinese economy continues to expand. The management and engineering teams have over 20 years of experience in industrial energy recovery in China.
For more information about CREG, please visit http://www.creg-cn.com .
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of China Recycling Energy Corp. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements". These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov . All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
