HANGZHOU, China, Jan. 9 /PRNewswire-Asia-FirstCall/ -- China 3C Group (OTC Bulletin Board: CHCG), a retailer and wholesale distributor of consumer and business products in China, today announced that its Board of Directors, in consultation with its Audit Committee, has appointed Goldman Parks Kurland Mohidin LLP ("Goldman Parks") as the company's independent auditor, to replace Morgenstern, Svoboda & Baer CPA's P.C. ("Morgenstern"), effective January 5, 2009.
Mr. Zhenggang Wang, CEO of China 3C Group said, "We are looking forward to working with Goldman Parks, a firm that has extensive experience working with Chinese companies that have upgraded from the OTCBB to a listing on a major U.S. exchange. Goldman Parks provides excellent client service experience and global reach. We look forward to a valuable long-term relationship as China 3C Group continues to grow and execute on its core vision and strategy."
Mr. Wang added, "We would like to thank Morgenstern for its years of excellent service. The decision to change auditors was not the result of any disagreement between the company and Morgenstern on any matter of accounting principles or practice, financial statement disclosure, or auditing scope or procedure. We have the utmost respect for the team with which we have worked and wish them well in the future."
About China 3C
China 3C is a leading wholesale distributor and retailer of 3C merchandise: computers, communication products and consumer electronics. The company specializes in wholesale distribution and retail sales of 3C products in Eastern China, focusing on products that make life more comfortable, convenient and connected. The company's goal is to become the number one retailer of 3C products in China. For more information, visit http://www.china3cgroup.com/ .
Forward-looking Statements:
Certain of the statements set forth in this press release constitute "Forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We have included and from time to time may make in our public filings, press releases or other public statements, certain forward-looking statements, including, without limitation, those under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 of our Annual Report on Form 10-K. In some cases these statements are identifiable through the use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "target," "can," "could," "may," "should," "will," "would" or words or expressions of similar meaning. You are cautioned not to place undue reliance on these forward- looking statements. In addition, our management may make forward-looking statements to analysts, investors, representatives of the media and others. These forward-looking statements are not historical facts and represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond our control. There can be no assurance that such forward-looking statements will prove to be accurate and China 3C Group undertakes no obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements.
