China Sky One Medical Announces Murrell, Hall, McIntosh & Co., PLLP as New Accounting Firm

2007-04-18 10:07 802

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.

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

Source: China Sky One Medical
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