HARBIN, China, April 18 /Xinhua-PRNewswire/ -- China Sky One Medical, Inc.
(OTC Bulletin Board: CSKI), one of the leading producers and distributors for
external-Chinese medicine in China, has announced that it has recently engaged
Murrell, Hall, McIntosh & Co., PLLP, as its new independent accounting firm to
audit the financial statements of the Company and its subsidiaries for the
fiscal year December 31, 2007, and to replace e-Fang Accountancy Corp., the
firm that audited the Company's financial statements for the year ended
December 31, 2006. The decision to change the Company's independent
accountants, which is reported in a Form 8-K filed by the Company on April 17,
2007, was made the board of directors as the Company undertakes an expansion
plan in 2007.
About China Sky One Medical, Inc.
China Sky One Medical, Inc., a Nevada corporation, is a holding company
whose principal operations are through its subsidiaries, which are engaged in
the manufacturing, marketing and distribution of pharmaceutical, medicinal and
diagnostic kit products. Through its wholly-owned subsidiaries, American
California Pharmaceutical Group, Inc. ("ACPG"), Harbin Tian Di Ren Medical
Science and Technology Company ("TDR"), Kangxi Medical Care Product Factory
("Kangxi"), and Harbin First Bio-Engineering Company Limited ("First"), the
Company's principal revenue source is the manufacture and sale of over-the-
counter pharmaceutical products.
ACPG, a wholly-owned subsidiary of the Company, operates as a holding
company for the other subsidiaries. TDR's principal business is the
manufacture and sale of branded nutritional supplements and over-the-counter
plant and herb-based medicinal products. Its manufacturing facilities are in
the City of Harbin, Heilongjiang Province. It has evolved into an integrated
manufacturer, marketer, and distributor of external use natural Chinese
medicinal products sold primarily to and through domestic pharmaceutical chain
stores in China with its subsidiaries, Kangxi and First. Kangxi's principal
business activity is to manufacture and sell branded external use Chinese
medicine and other natural products under the registered trademark "Kangxi."
It has 6 product lines: spray, ointment, powder, patch, cream, and
miscellaneous health and beauty products. It has become one of the leading
external use Chinese medicine factories with a full range of product lines and
development capacity. First's principal business activity is to research and
develop the use of natural medicinal plants and biological technology products
such as New Endothelin-1. First is one of the first companies in Heilongjiang
Province conducting research and development of high technology biological
products. Its facility is now under final inspection by the Chinese State Food
and Drug Administration ("SFDA") for the qualification as a certified GMP
production facility. On July 31, 2006, Kangxi merged with First, with
Kangxi's existing business activities continuing under First.
http://www.skyonemedical.com
Certain of the statements made herein constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements typically involve risks and uncertainties and may
include financial projections or information regarding our future plans,
objectives or performance. Actual results could differ materially from the
expectations reflected in such forward-looking statements as a result of a
variety of factors, including the risks associated with the effect of changing
economic conditions in The People's Republic of China, variations in cash
flow, reliance on collaborative retail partners and on new product
development, variations in new product development, risks associated with
rapid technological change, and the potential of introduced or undetected
flaws and defects in products, and other risk factors detailed in reports
filed with the Securities and Exchange Commission from time to time
For more information, please contact:
Alvin Pan
Sinavest Corporate Relations
Tel: +1-213-225-6226
