Sino Gas Appoints New Chief Financial Officer
27 Novembre 2007 - 3:00PM
PR Newswire (US)
BEIJING, Nov. 27 /Xinhua-PRNewswire-FirstCall/ -- Sino Gas
International Holdings, Inc. (OTC:SGAS) (BULLETIN BOARD: SGAS)
('Sino Gas' or the 'Company'), a leading developer of natural gas
distribution systems in small and medium- sized cities, as well as
a distributor of natural gas to residential, commercial and
industrial customers in China, today announced the appointment of
Vincent Hu as its Chief Financial Officer. Mr. Hu will be
responsible for the Company's overall financial planning and
controls, Chinese and U.S. GAAP compliant financial reporting, SEC
filings, investor relations, merger and acquisition activities and
corporate finance. Mr. Hu brings to Sino Gas more than nine years
of experience in financial and accounting management both in China
and globally. Previously, he served as the Greater China Finance
Director for the Kinko's platform at FedEx from 2004 to 2007. Prior
to that, he was in charge of finance at DuPont Corporation (China)
Beijing Branch from 2002 to 2004. He also worked as a senior
accountant at Lucent Technology Co. (China) from 2001 to 2002. Mr.
Hu is an affiliate of the British Association of Charted Certified
Accountants (ACCA). He graduated from Shanghai University of
Finance and Economics with a bachelor's degree in international
accounting. Mr. Hu replaces Ms. Fang Chen, who resigned as the
Chief Financial Officer for personal reasons but remains a director
of the Company. 'We are pleased to welcome Mr. Hu as our new CFO,'
said Mr. Yu-Chuan Liu, President and CEO of the Sino Gas. 'With his
extensive experience in finance and accounting with well-respected
global companies, we believe he will be an excellent addition to
the Sino Gas team as we implement our plan to expand our presence
in the natural gas distribution industry in China.' About Sino Gas
International Holdings, Inc. The Company, through its indirectly
wholly-owned subsidiary, Beijing Zhong Ran Wei Ye Gas Co., Ltd.
('Beijing Gas'), and the subsidiaries of Beijing Gas, is a leading
developer of natural gas distribution systems in small- and
medium-sized cities in China, as well as a distributor of natural
gas to residential, commercial and industrial customers in China.
The company owns and operates 24 natural gas distribution systems
serving approximately 70,000 residential and eight commercial and
industrial customers. Facilities include approximately 700
kilometers of pipeline and delivery networks with a designed daily
capacity of approximately 70,000 cubic meters of natural gas. The
company is currently constructing four additional natural gas
distribution systems and is planning two more natural gas
distribution systems. Beijing Gas owns and operates natural gas
distribution systems primarily in Hebei, Jiangsu and Shandong
Provinces. For further information, visit the Company's website at
http://www.sino-gas.com/ . Safe Harbor Statement This announcement
contains forward-looking statements within the meaning of the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical fact in
this announcement are forward-looking statements, including but not
limited to, the Company's ability to raise additional capital to
finance the Company's activities; the effectiveness, profitability,
and the marketability of its products; the ability of the Company
to identify attractive acquisition candidates and close on
acquisitions; the period of time for which its current liquidity
will enable the Company to fund its operations; the Company's
ability to protect its proprietary information; general economic
and business conditions; the volatility of the Company's operating
results and financial condition; the Company's ability to attract
or retain qualified senior management personnel and research and
development staff; and other risks detailed in the Company's
filings with the Securities and Exchange Commission. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on current expectations, assumptions,
estimates and projections about the companies and the industry. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or to changes in its expectations, except as may be required by
law. Although the Company believes that the expectations expressed
in these forward looking statements are reasonable, they cannot
assure you that their expectations will turn out to be correct, and
investors are cautioned that actual results may differ materially
from the anticipated results. For more information, please contact:
Sino Gas International Holdings, Inc. Mr. Brad Shao, Director of
Investor Relations Tel: +86-10-8260-0041 x883 Email: CCG Elite
Investor Relations Crocker Coulson, President Tel:
+1-646-213-1915/1914 (New York) Email: DATASOURCE: Sino Gas
International Holdings, Inc. CONTACT: Mr. Brad Shao, Director of
Investor Relations of Sino Gas International Holdings, Inc.,
+86-10-8260-0041 x883, or shaominglei@sino- gas.com; or CCG Elite
Investor Relations, Crocker Coulson, President, +1-646-
213-1915/1914 (New York), , for Sino Gas Web Site:
http://www.sino-gas.com/
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