BEIJING, Dec. 11 /PRNewswire-Asia/ -- Hurray! Holding Co., Ltd. (Nasdaq: HRAY), a leading company in artist development, music production and wireless music distribution and other wireless value-added services in China, today announced the appointment of PricewaterhouseCoopers ("PwC") as the Company's independent registered public accounting firm. PwC replaces the Company's previous independent auditors, Deloitte Touche Tohmatsu CPA Ltd. ("Deloitte").
(Logo: http://www.prnasia.com/sa/2009/12/02/20091202227612.jpg )
The appointment of PwC in replacement of Deloitte has been approved by the Company's Audit Committee. Upon the appointment, PwC is expected to be working with Deloitte to ensure a seamless transition.
During the fiscal years ended December 31, 2008, and December 31, 2007, respectively, and in the subsequent interim period ended June 30, 2009, there were no disagreements between the Company and Deloitte on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Deloitte, would have caused Deloitte to make reference to the subject matter of the disagreement in their reports on the financial statements for such years.
About Hurray! Holding Co., Ltd.
Hurray! is a leading company in artist development, music production and offline distribution in China through its record labels Huayi Brothers Music, Freeland Music, New Run Entertainment, Secular Bird and Seed Music. The Company, through Fly Songs, also organizes concerts and other music events in China.
Hurray! is also a leading online distributor of music and music-related products such as ringtones, ringbacktones, and truetones to mobile users in China through the full range of wireless value-added services platforms over mobile networks and through the internet.
The Company also provides a wide range of other wireless value-added services to mobile users in China, including games, pictures and animation, community, and other media and entertainment services.
Forward-looking Statements
This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these
forward-looking statements by terminology such as "will," "expects," "believes" and similar statements. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to: the ability of the company to avoid disruptions to its business and the preparation of its financial reports caused by the change in auditors; and other risks outlined in Hurray!'s filings with the Securities and Exchange Commission, including its registration statement on Form F-1, as amended, and annual reports on Form 20-F. Hurray! does not undertake any obligation to update this forward-looking information, except as required under applicable law.
For more information, please contact:
Christina Low
Investor Relations Officer
Phone: +86-10-8869-5237
Email: IR@hurray.com.cn
