BEIJING, December 13, 2011 /PRNewswire-Asia/ -- Recon Technology, Ltd (Nasdaq: RCON), a leading Chinese non-state-owned oil and gas automation services provider, announced today the appointment of Friedman LLP ("Friedman") to serve as the company's independent registered public accounting firm, effective December 9, 2011. Friedman replaces the company's previous independent registered public accounting firm, Marcum Bernstein & Pinchuk LLP ("MarcumBP").
"We have had a positive relationship with MarcumBP and appreciate their dedicated services," said Shenping Yin, the CEO of Recon Technology, "Moving forward, the board has determined that Friedman offers our shareholders a strong combination of quality services, experience working with companies in China and cost-efficiency. We look forward to working with their team."
There have been no disagreements with MarcumBP on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures.
The appointment of Friedman as the new auditor has been approved by the company's Audit Committee. The company reported its decision to change accounting firms to the Securities and Exchange Commission today, in a Form 8-K filing.
About Friedman LLP
Friedman LLP, Accountants and Advisors, is headquartered in New York City, with offices in New Jersey, Long Island and Beijing. Friedman LLP employs more than 350 personnel, providing accounting, tax and consulting services to public and privately held companies. The firm has consistently been named one of the "New York Area's Largest Accounting Firms" by Crain's New York Business and ranked 45th in Accounting Today's "2011 Top 100 Accounting Firms" and 12th among its "Top 100 Local Firms by Region" for the New York metro region. For further information, contact Diane Paoletta at 212.842.7025 or visit www.friedmanllp.com.
About Recon Technology, Ltd
Recon Technology, Ltd has been providing leading Chinese oil and gas companies with automation services that increase efficiency and profitability in exploring, extracting, producing, processing, refining and transporting petroleum products for over 10 years. The company's proprietary computerized process control system manages oil production in real-time to increase extraction levels, reduce impurities in extracted petroleum and lower production costs. In addition, as one of only two acoustic system providers in the world, Recon's acoustic pipeline monitoring system is widely used to prevent gas leakage in the transport pipeline. Recon's technology is based on three software copyrights, eight product patents and four pending patents. Recon Technology is the first Chinese non-state-owned oil and gas service company to go public in the U.S. More information may be found at www.recon.cn.
Investor Contact:
Recon Technology, Ltd.
Tel: +86-10-8494-5799
Email: info@recon.cn
