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	<title>PR Newswire Asia All News</title>
	<link>http://www.prnasia.com</link>
	<language>zh-CN</language>
	<copyright>prnasia.com</copyright>
	<generator>PR Newswire Asia</generator>
	<description><![CDATA[we tell your story to the world!]]></description>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100199911-1.html</link>
		<title>China Ceramics Co., Ltd. to Present at the ROTH Capital 22nd Annual OC Growth Stock Conference</title>
		<author>PR Newswire Asia</author>
		
		<category>Finance</category>
		
		<pubDate>Thu, 11 Mar 2010 11:43:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec01274b51acc30078</guid>
		<description><![CDATA[　　JINJIANG, China, March 11 /PRNewswire-Asia-FirstCall/ -- China Ceramics Co., Ltd. (OTC Bulletin Board: CCLTF, CCLWF, CCLUF) ("China Ceramics" or the "Company"), a leading manufacturer of ceramic tiles, which are used for exterior siding, interior flooring, and design in residential and commercial buildings, today announced the Company's management team will present at the upcoming ROTH Capital 22nd Annual OC Growth Stock Conference in Dana Point, California.
　　The date, time and location of China Ceramics' presentation at the ROTH Capital 22nd Annual OC Growth Stock Conference are as follows:

　　Date:　　　　   Wednesday, March 17, 2010
　　Time:　　　　   8:00 a.m. Pacific Time (11:00 am EDT) in Track 3
　　Presenter:　　  Edmund Hen, Chief Financial Officer
　　Venue:　　　　  The Ritz Carlton 
　　　　　　　　　　1 Ritz Carlton Dr
　　　　　　　　　　Dana Point, CA 92629 

　　The ROTH Capital 22nd Annual OC Growth Stock Conference is a three-day conference that combines company presentations, Q&amp;A sessions, and management one-on-one meetings to provide institutional clients with extensive interaction with senior management to gain in-depth insights into each company. Interested parties and investors who wish to meet with China Ceramics' management may contact Bryan Blake at bryan.blake@ccgir.com or +1.646.833.3416, or ROTH Capital at conference@roth.com or (800) 933-6830.
　　The presentation will be webcast live. To listen to the webcast, please go to http://www.wsw.com/webcast/roth23/ccltf.ob/ at least fifteen minutes prior to the start of the presentation to download and install any necessary audio software. A replay of the webcast will be available for 90 days.

　　About China Ceramics Co., LTD
　　China Ceramics Co., Ltd., formerly China Holdings Acquisition Corp., is a leading manufacturer of ceramic tiles in China. The company's ceramic tiles are used for exterior siding, interior flooring, and design in residential and commercial buildings. China Ceramics' products, sold under the Hengda or "HD" brand, are available in over 2000 styles, colors and sizes combinations and are distributed through a network of exclusive distributors or directly to large property developers.

　　For more information, please contact:

　　China Ceramics Co., Ltd.
　　 Edmund Hen, Chief Financial Officer
　　 Email: info@hengdatile.com  

　　CCG Investor Relations Inc.
　　 Mr. Ed Job, CFA - Account Manager
　　 Phone: +1-646-213-1914 
　　 Email: ed.job@ccgir.com 
　　 Mr. Crocker Coulson, President
　　 Phone: +1-646-213-1915
　　 Web:   http://www.ccgirasia.com ]]></description>
		<detail><![CDATA[　　JINJIANG, China, March 11 /PRNewswire-Asia-FirstCall/ -- China Ceramics Co., Ltd. (OTC Bulletin Board: CCLTF, CCLWF, CCLUF) ("China Ceramics" or the "Company"), a leading manufacturer of ceramic tiles, which are used for exterior siding, interior flooring, and design in residential and commercial buildings, today announced the Company's management team will present at the upcoming ROTH Capital 22nd Annual OC Growth Stock Conference in Dana Point, California.
　　The date, time and location of China Ceramics' presentation at the ROTH Capital 22nd Annual OC Growth Stock Conference are as follows:

　　Date:　　　　   Wednesday, March 17, 2010
　　Time:　　　　   8:00 a.m. Pacific Time (11:00 am EDT) in Track 3
　　Presenter:　　  Edmund Hen, Chief Financial Officer
　　Venue:　　　　  The Ritz Carlton 
　　　　　　　　　　1 Ritz Carlton Dr
　　　　　　　　　　Dana Point, CA 92629 

　　The ROTH Capital 22nd Annual OC Growth Stock Conference is a three-day conference that combines company presentations, Q&amp;A sessions, and management one-on-one meetings to provide institutional clients with extensive interaction with senior management to gain in-depth insights into each company. Interested parties and investors who wish to meet with China Ceramics' management may contact Bryan Blake at bryan.blake@ccgir.com or +1.646.833.3416, or ROTH Capital at conference@roth.com or (800) 933-6830.
　　The presentation will be webcast live. To listen to the webcast, please go to http://www.wsw.com/webcast/roth23/ccltf.ob/ at least fifteen minutes prior to the start of the presentation to download and install any necessary audio software. A replay of the webcast will be available for 90 days.

　　About China Ceramics Co., LTD
　　China Ceramics Co., Ltd., formerly China Holdings Acquisition Corp., is a leading manufacturer of ceramic tiles in China. The company's ceramic tiles are used for exterior siding, interior flooring, and design in residential and commercial buildings. China Ceramics' products, sold under the Hengda or "HD" brand, are available in over 2000 styles, colors and sizes combinations and are distributed through a network of exclusive distributors or directly to large property developers.

　　For more information, please contact:

　　China Ceramics Co., Ltd.
　　 Edmund Hen, Chief Financial Officer
　　 Email: info@hengdatile.com  

　　CCG Investor Relations Inc.
　　 Mr. Ed Job, CFA - Account Manager
　　 Phone: +1-646-213-1914 
　　 Email: ed.job@ccgir.com 
　　 Mr. Crocker Coulson, President
　　 Phone: +1-646-213-1915
　　 Web:   http://www.ccgirasia.com ]]></detail>
		<source><![CDATA[SOURCE  China Ceramics Co., Ltd. ]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100032212-1.html</link>
		<title>TANDBERG Strengthens its enVision Program in Hong Kong; Set to Further Invest in its Partner Community</title>
		<author>PR Newswire Asia</author>
		
		<category>Finance</category>
		
		<category>IT</category>
		
		<pubDate>Thu, 11 Mar 2010 10:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012747c71e0f0042</guid>
		<description><![CDATA[
New enVision Partner Program allows partners to invest in TANDBERG based on their core competencies

　　HONG KONG, March 11 /PRNewswire-Asia/ -- TANDBERG, (OSLO: TAA.OL) the leading global provider of telepresence, high-definition (HD) video conferencing and mobile video solutions, today introduced an exciting new partner program in Hong Kong that will build an enhanced, long-term collaboration platform for TANDBERG and its partner community. 

　　TANDBERG's enVision partner program offers partners the flexibility to scale their investment and engage in various aspects of the program based on their core competencies and market focus.  Partners will be categorized into four areas of specialization, namely audio/visual specialists, visual communication specialists, systems integrators, and services providers. In addition, TANDBERG has significantly increased the size and scope of its marketing fund and support resources - including customised tools and training programs to develop each partner's specialization - to help key partners accelerate their business.

　　Lars Ronning, TANDBERG's President in Asia Pacific (excluding China and Japan) said, "The new enVision program empowers our partners to drive increased profits through developing a clear differentiation for their business, based on demonstrated competency around the solutions they provide as well as the market segments they serve.  Video is truly the next killer application and TANDBERG, together with our partners, is in the best position to win."

　　Under the auspices of the enVision Partner Program, TANDBERG will continue to work with its partners in 3 levels of certification - Platinum (highest level), Premier (intermediate) and Authorised (entry level). These partners are categorized according to their business solution in the following areas: 

　　* Audio Visual Specialist: 		
　　  AV Specialists are highly competent in meeting room design and
　　  integration.

　　* Visual Communication Specialist:
　　  VC Specialists have extensive expertise in visual communications and
　　  TANDBERG products.

　　* System Integrator:
　　  System Integrators are focused around networking, operating
　　  environments, storage and contact centre technologies.

　　* Service Provider:
　　  Service Providers can provide total communication and network
　　  infrastructure management on a global or regional level with a
　　  guaranteed service levels.

　　With its fierce advocation of open standards and solid year-on-year growth, TANDBERG has continued to be an attractive partner for many of Asia Pacific's top channel partners. "Hong Kong is experiencing a huge growth in the collaboration market with many of our customers looking for ways to work more efficiently, particularly those with offices in different locations. Instead of now trying to work across the entire collaboration chain, we'll now be even better equipped to work with our customers in a more specialised manner," said Ms Molly Chow, Chief Sales Officer, Vega Technology.

　　According to industry analysts, the video conferencing market in Asia Pacific is poised to grow into a US$1.7 billion industry by 2014. 

　　TANDBERG's continued focus on channel and partner development comes off the back of the recent appointment of Adam Britten as TANDBERG's Asia Pacific Channel Development Director.

　　For more information, go to http://www.tandberg.com/partners/reseller.jsp .

　　Stay up-to-date on the latest company news by connecting with TANDBERG on Facebook (http://www.facebook.com/pages/TANDBERG-Video-Conferencing/7321245862 ) and Twitter (http://twitter.com/TANDBERG_Video ).

　　About TANDBERG 

　　TANDBERG is the leading global provider of telepresence, high-definition video conferencing and mobile video products and services with dual headquarters in New York and Norway. TANDBERG designs, develops and markets systems and software for video, voice and data. The company provides sales, support and value-added services in more than 90 countries worldwide. TANDBERG is publicly traded on the Oslo Stock Exchange under the ticker TAA.OL. Please visit http://www.tandberg.com for more information.

　　TANDBERG is a trademark or registered trademark in the U.S. and other countries. All other product and company names here in may be trademarks of their respective owners.

　　Contact:

　　 Nilesh Pritam
　　 TANDBERG
　　 Tel:   +65-9369-5477
　　 Email: nilesh.pritam@tandberg.com
]]></description>
		<detail><![CDATA[
New enVision Partner Program allows partners to invest in TANDBERG based on their core competencies

　　HONG KONG, March 11 /PRNewswire-Asia/ -- TANDBERG, (OSLO: TAA.OL) the leading global provider of telepresence, high-definition (HD) video conferencing and mobile video solutions, today introduced an exciting new partner program in Hong Kong that will build an enhanced, long-term collaboration platform for TANDBERG and its partner community. 

　　TANDBERG's enVision partner program offers partners the flexibility to scale their investment and engage in various aspects of the program based on their core competencies and market focus.  Partners will be categorized into four areas of specialization, namely audio/visual specialists, visual communication specialists, systems integrators, and services providers. In addition, TANDBERG has significantly increased the size and scope of its marketing fund and support resources - including customised tools and training programs to develop each partner's specialization - to help key partners accelerate their business.

　　Lars Ronning, TANDBERG's President in Asia Pacific (excluding China and Japan) said, "The new enVision program empowers our partners to drive increased profits through developing a clear differentiation for their business, based on demonstrated competency around the solutions they provide as well as the market segments they serve.  Video is truly the next killer application and TANDBERG, together with our partners, is in the best position to win."

　　Under the auspices of the enVision Partner Program, TANDBERG will continue to work with its partners in 3 levels of certification - Platinum (highest level), Premier (intermediate) and Authorised (entry level). These partners are categorized according to their business solution in the following areas: 

　　* Audio Visual Specialist: 		
　　  AV Specialists are highly competent in meeting room design and
　　  integration.

　　* Visual Communication Specialist:
　　  VC Specialists have extensive expertise in visual communications and
　　  TANDBERG products.

　　* System Integrator:
　　  System Integrators are focused around networking, operating
　　  environments, storage and contact centre technologies.

　　* Service Provider:
　　  Service Providers can provide total communication and network
　　  infrastructure management on a global or regional level with a
　　  guaranteed service levels.

　　With its fierce advocation of open standards and solid year-on-year growth, TANDBERG has continued to be an attractive partner for many of Asia Pacific's top channel partners. "Hong Kong is experiencing a huge growth in the collaboration market with many of our customers looking for ways to work more efficiently, particularly those with offices in different locations. Instead of now trying to work across the entire collaboration chain, we'll now be even better equipped to work with our customers in a more specialised manner," said Ms Molly Chow, Chief Sales Officer, Vega Technology.

　　According to industry analysts, the video conferencing market in Asia Pacific is poised to grow into a US$1.7 billion industry by 2014. 

　　TANDBERG's continued focus on channel and partner development comes off the back of the recent appointment of Adam Britten as TANDBERG's Asia Pacific Channel Development Director.

　　For more information, go to http://www.tandberg.com/partners/reseller.jsp .

　　Stay up-to-date on the latest company news by connecting with TANDBERG on Facebook (http://www.facebook.com/pages/TANDBERG-Video-Conferencing/7321245862 ) and Twitter (http://twitter.com/TANDBERG_Video ).

　　About TANDBERG 

　　TANDBERG is the leading global provider of telepresence, high-definition video conferencing and mobile video products and services with dual headquarters in New York and Norway. TANDBERG designs, develops and markets systems and software for video, voice and data. The company provides sales, support and value-added services in more than 90 countries worldwide. TANDBERG is publicly traded on the Oslo Stock Exchange under the ticker TAA.OL. Please visit http://www.tandberg.com for more information.

　　TANDBERG is a trademark or registered trademark in the U.S. and other countries. All other product and company names here in may be trademarks of their respective owners.

　　Contact:

　　 Nilesh Pritam
　　 TANDBERG
　　 Tel:   +65-9369-5477
　　 Email: nilesh.pritam@tandberg.com
]]></detail>
		<source><![CDATA[SOURCE  TANDBERG]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100194511-1.html</link>
		<title>Supply Chain Accountability Takes a Step Forward in the Electronics Industry</title>
		<author>PR Newswire Asia</author>
		
		<category>General</category>
		
		<category>IT</category>
		
		<pubDate>Thu, 11 Mar 2010 08:00:00 +0800</pubDate>
		<guid>4028ee8c2742dadb01274398f0c70016</guid>
		<description><![CDATA[　　MONTREAUX, Switzerland, March 11 /PRNewswire-Asia/ -- Achilles Information Ltd. has signed a Memorandum of Understanding with the Global e-Sustainability Initiative (GeSI) to drive forward the progress of one of the world's foremost collaborative initiatives that tackles the complex issue of corporate responsibility in global supply chains.

　　The agreement commits the signatories to developing a new vision and three-year plan for the Electronics Tool for Accountable Supply Chains (E-TASC). The agreement also plans for a new open and flexible governance structure capable of acting swiftly to take decisive action on the work program that will deliver that vision.

　　"This agreement gives us the long-term vision and the near-term action plan necessary to make a significant impact and drive positive behaviours in our global supply chain," said GeSI Chairman Luis Neves.

　　"The structure of the agreement means that it is transparent and open to other committed groups from both Electronics and other industries to join us and shape the future of the global program," said Mike Loch, GeSI Board member and Co-Chair Supply Chain work group.

　　"We are delighted to see E-TASC gain this well earned recognition and confirm its place as an industry standard tool for responsible supply chains," said Colin Maund, Achilles' CEO.

　　Subscribers to E-TASC enter details of how their supply facilities manage and improve their performance against labour, social and ethical, environmental, and health and safety standards and share this information confidentially through the online tool with their customers.

　　By providing the information in standard format and sharing it multiple times with different customers, companies avoid the problem of questionnaire fatigue and focus on building capability and improving performance.

　　As an online system, it has the capability to rapidly reach a global supply chain, raise levels of awareness, support risk identification and management and start to change behaviours. As a collaborative initiative E-TASC has the power to harness collective action to make a much larger material impact than any single company could achieve acting alone.

　　E-TASC was first launched in June 2007 and implementation of the product in supply chains has grown rapidly in recent months, as buying organisations realise the benefits of inviting their suppliers into the system. E-TASC is available in English and Chinese languages. The tool is managed by Achilles, a leading provider of services in sustainable procurement that hosts procurement systems across eight different sectors.

　　In December 2009, E-TASC reached 1000 supply facilities on the system and has over 50 global brands now subscribing to it and starting to invite their suppliers into the system: 

　　See public listing of E-TASC subscribers:
　　http://e-tasc.achilles.com/AboutETasc/Subscribers.aspx

　　The system now hosts companies from over 7 tiers of the ICT supply chain and subscribers from over 40 countries and areas including: Mainland China, USA, Taiwan, Japan, Germany, India, Malaysia, Mexico, Singapore, and the Philippines.

　　More information on E-TASC can be found at http://www.e-tasc.com .

　　The Achilles Group, headquartered in the UK, identifies, qualifies, monitors and evaluates suppliers on behalf of major organisations worldwide. The company builds and supports buyer-supplier communities in many industry sectors, creating unique and powerful global networks. The Achilles Group's services for sustainable procurement help create opportunities for business and reduce risk in the supply chain.]]></description>
		<detail><![CDATA[　　MONTREAUX, Switzerland, March 11 /PRNewswire-Asia/ -- Achilles Information Ltd. has signed a Memorandum of Understanding with the Global e-Sustainability Initiative (GeSI) to drive forward the progress of one of the world's foremost collaborative initiatives that tackles the complex issue of corporate responsibility in global supply chains.

　　The agreement commits the signatories to developing a new vision and three-year plan for the Electronics Tool for Accountable Supply Chains (E-TASC). The agreement also plans for a new open and flexible governance structure capable of acting swiftly to take decisive action on the work program that will deliver that vision.

　　"This agreement gives us the long-term vision and the near-term action plan necessary to make a significant impact and drive positive behaviours in our global supply chain," said GeSI Chairman Luis Neves.

　　"The structure of the agreement means that it is transparent and open to other committed groups from both Electronics and other industries to join us and shape the future of the global program," said Mike Loch, GeSI Board member and Co-Chair Supply Chain work group.

　　"We are delighted to see E-TASC gain this well earned recognition and confirm its place as an industry standard tool for responsible supply chains," said Colin Maund, Achilles' CEO.

　　Subscribers to E-TASC enter details of how their supply facilities manage and improve their performance against labour, social and ethical, environmental, and health and safety standards and share this information confidentially through the online tool with their customers.

　　By providing the information in standard format and sharing it multiple times with different customers, companies avoid the problem of questionnaire fatigue and focus on building capability and improving performance.

　　As an online system, it has the capability to rapidly reach a global supply chain, raise levels of awareness, support risk identification and management and start to change behaviours. As a collaborative initiative E-TASC has the power to harness collective action to make a much larger material impact than any single company could achieve acting alone.

　　E-TASC was first launched in June 2007 and implementation of the product in supply chains has grown rapidly in recent months, as buying organisations realise the benefits of inviting their suppliers into the system. E-TASC is available in English and Chinese languages. The tool is managed by Achilles, a leading provider of services in sustainable procurement that hosts procurement systems across eight different sectors.

　　In December 2009, E-TASC reached 1000 supply facilities on the system and has over 50 global brands now subscribing to it and starting to invite their suppliers into the system: 

　　See public listing of E-TASC subscribers:
　　http://e-tasc.achilles.com/AboutETasc/Subscribers.aspx

　　The system now hosts companies from over 7 tiers of the ICT supply chain and subscribers from over 40 countries and areas including: Mainland China, USA, Taiwan, Japan, Germany, India, Malaysia, Mexico, Singapore, and the Philippines.

　　More information on E-TASC can be found at http://www.e-tasc.com .

　　The Achilles Group, headquartered in the UK, identifies, qualifies, monitors and evaluates suppliers on behalf of major organisations worldwide. The company builds and supports buyer-supplier communities in many industry sectors, creating unique and powerful global networks. The Achilles Group's services for sustainable procurement help create opportunities for business and reduce risk in the supply chain.]]></detail>
		<source><![CDATA[SOURCE  Achilles]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100200611-1.html</link>
		<title>China Security &amp; Surveillance Technology, Inc. Announces Public Offering of Common Stock</title>
		<author>PR Newswire Asia</author>
		
		<category>Finance</category>
		
		<pubDate>Thu, 11 Mar 2010 07:01:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec01274a4f48260065</guid>
		<description><![CDATA[　　SHENZHEN, China, March 11 /PRNewswire-Asia/ -- China Security &amp; Surveillance Technology, Inc. ("CSST" or the "Company") (NYSE: CSR; Nasdaq Dubai: CSR), a leading integrated security and surveillance solution provider in the P.R.C., today announced that it has filed a registration statement with the Securities and Exchange Commission for the public offering by the Company of 20,000,000 shares of its common stock.  CSST has also granted the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of common stock to cover over-allotments. 
　　CSST expects to use proceeds from the sale of common stock for the repurchase or repayment of its Tranche B Zero Coupon Guaranteed Senior Unsecured Notes and for general corporate purposes, including future capacity expansion, strategic acquisitions, capital expenditures and research and development expenditures. 
　　William Blair &amp; Company, L.L.C., Brean Murray, Carret &amp; Co., LLC and Oppenheimer &amp; Co. Inc. are acting as joint book running managers for the offering.  When available, a copy of the preliminary prospectus relating to the offering may be obtained by contacting William Blair &amp; Company, L.L.C., 222 W. Adams Street, Suite 3300, Chicago, IL 60606, Attention: Syndicate Department, by calling 312-364-8600, or from Brean Murray, Carret &amp; Co., LLC, 570 Lexington Avenue, New York, NY 10022, Attention: Syndicate Department, by calling 212-702-6667; or from Oppenheimer &amp; Co. Inc., 300 Madison Avenue, 4th Floor, New York, NY 10017, Attention: Syndicate Prospectus Department, by calling 212-667-8563.
　　A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective.  These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 
　　This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

　　About China Security &amp; Surveillance Technology, Inc.
　　Based in Shenzhen, China, CSST designs, manufactures, sells, installs, services and monitors electronic surveillance and safety products and solutions, including related software, in China.  Its customers are mainly comprised of government, commercial industrial and education entities.  CSST has built a diversified customer base through its extensive sales and service network that includes branch offices and distribution points throughout China.  To learn more about the Company visit http://www.csst.com .

　　Safe Harbor Statement
　　This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements.  Such statements include, among others, those concerning our securities offering and the anticipated use of the net proceeds of the offering, as well as all assumptions, expectations, predictions, intentions or beliefs about future events.  Forward-looking statements can be identified by the use of forward-looking terminology such as "will," "believes," "expects" or similar expressions.  Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and based upon premises with respect to future business decisions, which are subject to change.  We do not undertake to update the forward-looking statements contained in this press release.  For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC"), and our subsequent SEC filings.  Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system at http://www.sec.gov .

　　For more information, please contact:

　　Company Contact:
　　 Terence Yap, Chief Financial Officer and Vice Chairman
　　 China Security &amp; Surveillance Technology, Inc.
　　 Tel:   +86-755-8351-5634
　　 Email: ir@csst.com

　　Investor and Media Contact:
　　 Patrick Yu
　　 Fleishman-Hillard Hong Kong
　　 Tel:   +852-2530-2577
　　 Email: patrick.yu@fleishman.com

]]></description>
		<detail><![CDATA[　　SHENZHEN, China, March 11 /PRNewswire-Asia/ -- China Security &amp; Surveillance Technology, Inc. ("CSST" or the "Company") (NYSE: CSR; Nasdaq Dubai: CSR), a leading integrated security and surveillance solution provider in the P.R.C., today announced that it has filed a registration statement with the Securities and Exchange Commission for the public offering by the Company of 20,000,000 shares of its common stock.  CSST has also granted the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of common stock to cover over-allotments. 
　　CSST expects to use proceeds from the sale of common stock for the repurchase or repayment of its Tranche B Zero Coupon Guaranteed Senior Unsecured Notes and for general corporate purposes, including future capacity expansion, strategic acquisitions, capital expenditures and research and development expenditures. 
　　William Blair &amp; Company, L.L.C., Brean Murray, Carret &amp; Co., LLC and Oppenheimer &amp; Co. Inc. are acting as joint book running managers for the offering.  When available, a copy of the preliminary prospectus relating to the offering may be obtained by contacting William Blair &amp; Company, L.L.C., 222 W. Adams Street, Suite 3300, Chicago, IL 60606, Attention: Syndicate Department, by calling 312-364-8600, or from Brean Murray, Carret &amp; Co., LLC, 570 Lexington Avenue, New York, NY 10022, Attention: Syndicate Department, by calling 212-702-6667; or from Oppenheimer &amp; Co. Inc., 300 Madison Avenue, 4th Floor, New York, NY 10017, Attention: Syndicate Prospectus Department, by calling 212-667-8563.
　　A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective.  These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 
　　This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

　　About China Security &amp; Surveillance Technology, Inc.
　　Based in Shenzhen, China, CSST designs, manufactures, sells, installs, services and monitors electronic surveillance and safety products and solutions, including related software, in China.  Its customers are mainly comprised of government, commercial industrial and education entities.  CSST has built a diversified customer base through its extensive sales and service network that includes branch offices and distribution points throughout China.  To learn more about the Company visit http://www.csst.com .

　　Safe Harbor Statement
　　This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements.  Such statements include, among others, those concerning our securities offering and the anticipated use of the net proceeds of the offering, as well as all assumptions, expectations, predictions, intentions or beliefs about future events.  Forward-looking statements can be identified by the use of forward-looking terminology such as "will," "believes," "expects" or similar expressions.  Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and based upon premises with respect to future business decisions, which are subject to change.  We do not undertake to update the forward-looking statements contained in this press release.  For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC"), and our subsequent SEC filings.  Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system at http://www.sec.gov .

　　For more information, please contact:

　　Company Contact:
　　 Terence Yap, Chief Financial Officer and Vice Chairman
　　 China Security &amp; Surveillance Technology, Inc.
　　 Tel:   +86-755-8351-5634
　　 Email: ir@csst.com

　　Investor and Media Contact:
　　 Patrick Yu
　　 Fleishman-Hillard Hong Kong
　　 Tel:   +852-2530-2577
　　 Email: patrick.yu@fleishman.com

]]></detail>
		<source><![CDATA[SOURCE  China Security & Surveillance Technology, Inc.]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100199511-1.html</link>
		<title>Advanced Micro-Fabrication Equipment, Inc. Closes Series D Round With $46 Million in Additional Financing</title>
		<author>PR Newswire Asia</author>
		
		<category>Finance</category>
		
		<category>IT</category>
		
		<pubDate>Thu, 11 Mar 2010 07:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012748b714fe0057</guid>
		<description><![CDATA[　　SHANGHAI, and SAN FRANCISCO, March 11 /PRNewswire-Asia/ -- Advanced Micro-Fabrication Equipment, Inc. (http://www.amec-inc.com/ ) (AMEC) today announced that it has closed its Series D financing round by securing $46 million from existing investors.  They include: Shanghai Venture Capital Co. Ltd. (http://www.shvc.com.cn/ ), Walden International (http://www.waldenintl.com/ ), Lightspeed Venture Partners (http://www.lightspeedvp.com/ ), Goldman Sachs (http://www.goldmansachs.com/ ), Redpoint Ventures (http://www.redpoint.com/ ), Global Catalyst Partners (http://www.gc-partners.com/ ), InterWest Partners (http://www.interwest.com/ ), Bay Partners (http://www.baypartners.com/ ) and Qualcomm Ventures (http://www.qualcomm.com/ventures ).

　　Since its inception in 2004, the company has raised more than $150 million from venture capital sources.

　　"I am very pleased that AMEC held its ground during the severe economic crisis and semiconductor industry downturn," said Pingao Wang, President of Shanghai Venture Capital Co. Ltd. "The company has made major progress in plasma Etch equipment development and achieved good product positioning momentum. At the same time, they have played a leading role in the development of China's semiconductor equipment industry. Looking ahead, I believe that AMEC is very well positioned to ramp up volume production and provide the best equipment solution along with excellent technical support to IC makers.  Shanghai Venture Capital Co. Ltd. will continue to support AMEC's execution of its business and technology strategy."

　　Lip-Bu Tan, Chairman of Walden International, noted, "As the semiconductor industry moves to advanced device nodes (32/22-nm process), foundries are expanding capacity to keep pace with stringent new technology requirements. AMEC raised sufficient capital to build a tool that offers the best performance, highest yield and lowest cost of operation for this advanced production environment. I'm confident that the management team will rise to the challenge and help the industry meet the new demands." 

　　"AMEC's management team continued to execute on its business plan through the downturn and has emerged with a compelling offering at a time when capital equipment demand is growing," said Chris Schaepe, Managing Director of Lightspeed Venture Partners. "The steady adoption of the company's technology by leading chipmakers is very encouraging, as is the company's product roadmap. We look forward to AMEC's continued growth as the industry rebounds and demand for the company's differentiated Etch product continues to rise."

　　"The financing provides extra bandwidth to further position our product and accelerate volume production," said AMEC's Chairman and CEO, Dr. Gerald Z. Yin. "Despite tight capital markets and a generally difficult environment for start-ups, we kept our aggressive innovation initiatives on track. This enabled us to deliver a best-in-class plasma Etch tool to customers working on very advanced devices. With its industry-leading productivity, performance and cost advantages, the tool has gained a strong foothold in fabs across Asia. We're grateful to our investors and customers for their confidence and continued support."

　　Since the last funding round, AMEC has focused on positioning its Primo D-RIE(TM) Etch tool at customer sites. Today, five companies in Asia have installed the system. They include foundries and memory IC companies fabricating devices at nodes of 65 nm and 45 nm, with extendibility to 32 nm and beyond. Repeat orders have already been received and smooth system start-ups are underway at the customers' respective fabs. Additional tools are slated for delivery throughout 2010. Some will go to existing customers for volume-production; others are bound for new customers.   

　　Chipmakers are drawn to the PRIMO D-RIE system for its novel architecture -- a cluster tool with a dual-station chamber with single-station independent control -- along with its very high radio frequency Decoupled Reactive Ion Etch (D-RIE) technology. When combined with superior engineering design and high-quality manufacturing, these features make AMEC's Primo D-RIE one of the most productive, reliable and cost-efficient Etch tools on the market. Last year, the system received the 2009 Best Product Award from leading US trade publication, Semiconductor International. In addition, AMEC and its technology received nine other regional awards during this time.  

　　Other recent corporate developments include the settlement of all outstanding disputes with Applied Materials, with a mutual commitment to evaluate collaboration opportunities.  

　　About Advanced Micro-Fabrication Equipment, Inc. 

　　Advanced Micro-Fabrication Equipment, Inc. (AMEC) is a leading Asia-based semiconductor equipment company with proprietary wafer fabrication solutions designed to advance technology, increase productivity and reduce manufacturing costs for leading global semiconductor manufacturers. AMEC's systems combine unique technology solutions with economic innovations for the 65- 45- and 32-nm nodes and beyond. The company maintains R&amp;D, manufacturing, business and support operations in China, with sales and support organizations in Japan, Korea, Singapore and Taiwan. To learn more, please visit http://www.amec-inc.com . 

　　Primo D-RIE is a registered trademark of AMEC.]]></description>
		<detail><![CDATA[　　SHANGHAI, and SAN FRANCISCO, March 11 /PRNewswire-Asia/ -- Advanced Micro-Fabrication Equipment, Inc. (http://www.amec-inc.com/ ) (AMEC) today announced that it has closed its Series D financing round by securing $46 million from existing investors.  They include: Shanghai Venture Capital Co. Ltd. (http://www.shvc.com.cn/ ), Walden International (http://www.waldenintl.com/ ), Lightspeed Venture Partners (http://www.lightspeedvp.com/ ), Goldman Sachs (http://www.goldmansachs.com/ ), Redpoint Ventures (http://www.redpoint.com/ ), Global Catalyst Partners (http://www.gc-partners.com/ ), InterWest Partners (http://www.interwest.com/ ), Bay Partners (http://www.baypartners.com/ ) and Qualcomm Ventures (http://www.qualcomm.com/ventures ).

　　Since its inception in 2004, the company has raised more than $150 million from venture capital sources.

　　"I am very pleased that AMEC held its ground during the severe economic crisis and semiconductor industry downturn," said Pingao Wang, President of Shanghai Venture Capital Co. Ltd. "The company has made major progress in plasma Etch equipment development and achieved good product positioning momentum. At the same time, they have played a leading role in the development of China's semiconductor equipment industry. Looking ahead, I believe that AMEC is very well positioned to ramp up volume production and provide the best equipment solution along with excellent technical support to IC makers.  Shanghai Venture Capital Co. Ltd. will continue to support AMEC's execution of its business and technology strategy."

　　Lip-Bu Tan, Chairman of Walden International, noted, "As the semiconductor industry moves to advanced device nodes (32/22-nm process), foundries are expanding capacity to keep pace with stringent new technology requirements. AMEC raised sufficient capital to build a tool that offers the best performance, highest yield and lowest cost of operation for this advanced production environment. I'm confident that the management team will rise to the challenge and help the industry meet the new demands." 

　　"AMEC's management team continued to execute on its business plan through the downturn and has emerged with a compelling offering at a time when capital equipment demand is growing," said Chris Schaepe, Managing Director of Lightspeed Venture Partners. "The steady adoption of the company's technology by leading chipmakers is very encouraging, as is the company's product roadmap. We look forward to AMEC's continued growth as the industry rebounds and demand for the company's differentiated Etch product continues to rise."

　　"The financing provides extra bandwidth to further position our product and accelerate volume production," said AMEC's Chairman and CEO, Dr. Gerald Z. Yin. "Despite tight capital markets and a generally difficult environment for start-ups, we kept our aggressive innovation initiatives on track. This enabled us to deliver a best-in-class plasma Etch tool to customers working on very advanced devices. With its industry-leading productivity, performance and cost advantages, the tool has gained a strong foothold in fabs across Asia. We're grateful to our investors and customers for their confidence and continued support."

　　Since the last funding round, AMEC has focused on positioning its Primo D-RIE(TM) Etch tool at customer sites. Today, five companies in Asia have installed the system. They include foundries and memory IC companies fabricating devices at nodes of 65 nm and 45 nm, with extendibility to 32 nm and beyond. Repeat orders have already been received and smooth system start-ups are underway at the customers' respective fabs. Additional tools are slated for delivery throughout 2010. Some will go to existing customers for volume-production; others are bound for new customers.   

　　Chipmakers are drawn to the PRIMO D-RIE system for its novel architecture -- a cluster tool with a dual-station chamber with single-station independent control -- along with its very high radio frequency Decoupled Reactive Ion Etch (D-RIE) technology. When combined with superior engineering design and high-quality manufacturing, these features make AMEC's Primo D-RIE one of the most productive, reliable and cost-efficient Etch tools on the market. Last year, the system received the 2009 Best Product Award from leading US trade publication, Semiconductor International. In addition, AMEC and its technology received nine other regional awards during this time.  

　　Other recent corporate developments include the settlement of all outstanding disputes with Applied Materials, with a mutual commitment to evaluate collaboration opportunities.  

　　About Advanced Micro-Fabrication Equipment, Inc. 

　　Advanced Micro-Fabrication Equipment, Inc. (AMEC) is a leading Asia-based semiconductor equipment company with proprietary wafer fabrication solutions designed to advance technology, increase productivity and reduce manufacturing costs for leading global semiconductor manufacturers. AMEC's systems combine unique technology solutions with economic innovations for the 65- 45- and 32-nm nodes and beyond. The company maintains R&amp;D, manufacturing, business and support operations in China, with sales and support organizations in Japan, Korea, Singapore and Taiwan. To learn more, please visit http://www.amec-inc.com . 

　　Primo D-RIE is a registered trademark of AMEC.]]></detail>
		<source><![CDATA[SOURCE  Advanced Micro-Fabrication Equipment, Inc.]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100200311-1.html</link>
		<title>China Natural Gas Announces Fourth Quarter and Year End 2009 Financial Results</title>
		<author>PR Newswire Asia</author>
		
		<category>Energy/Natural Sources </category>
		
		<category>Finance</category>
		
		<pubDate>Thu, 11 Mar 2010 06:43:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec01274a3eebed0064</guid>
		<description><![CDATA[ 
　　- 4Q09 Revenue Increases 18% YoY to $21.67 Million

　　- 4Q09 Gross Profit Increases 11% YoY to $10.53 Million

　　NEW YORK, March 11 /PRNewswire-Asia/ -- China Natural Gas, Inc. ("China Natural Gas" or the "Company") (Nasdaq: CHNG), a leading provider of compressed natural gas (CNG) for vehicular fuel and pipeline natural gas for industrial, commercial and residential use in Xi'an, China, today announced its financial results for the fourth quarter and full fiscal year ended December 31, 2009.

　　Fourth Quarter 2009 Results
　　Revenue in the fourth quarter of 2009 increased 18% to $21.67 million from $18.40 million in the fourth quarter of 2008, driven by additional fueling stations and higher residential and commercial pipeline customers. Sales of natural gas grew 6% year-over-year to $16.10 million, from $15.25 million in the fourth quarter of 2008. Gasoline revenue in the fourth quarter of 2009 increased 69% to $1.94 million, from $1.15 million in the prior year's period. Installation and services revenue grew 81% year-over-year to $3.63 million, from $2.0 million a year ago. In the fourth quarter of 2009, sales of natural gas, gasoline, and installation and other services contributed 74%, 9%, and 17% of total revenue, respectively.
　　Gross profit in the fourth quarter of 2009 expanded 11% to $10.53 million, from $9.49 million in the prior year's same period, driven by the increased sales volume of natural gas and increased revenue from installation business. Gross margin in the fourth quarter of 2009 was 49%, compared to 52% a year ago, mainly due to a 30% increase of coal bed methane procurement cost in Henan province.
　　Operating income in the fourth quarter of 2009 was $6.77 million, an increase of 17% year-over-year, from $5.77 million in the prior year's period. Meanwhile, operating expenses in the fourth quarter of 2009 increased by approximately $38,518 to $3.76 million, versus $3.72 million in the prior year's period.
　　During the quarter, the Company recognized $442,432 non-cash gain from an estimated change in the fair value of warrants, versus zero in the fourth quarter of 2008.
　　Income tax expense was $1.13 million for an effective tax rate of 16%, as compared to an effective tax rate of 21% in the fourth quarter of 2008. Net income in the fourth quarter of 2009 increased 64% to $6.12 million, or $0.27 per diluted share, from $3.73 million, or $0.26 per diluted share, in the fourth quarter of 2008.
　　Excluding the impact of the non-cash expenses (see "About Non-GAAP Financial Measures" toward the end of this release), adjusted net income was $5.68 million, versus $4.26 million in the fourth quarter of 2008. For the fourth quarter of 2009, adjusted earnings per diluted share was $0.26, versus $0.30 per diluted share in the fourth quarter of 2008.
　　Mr. Qinan Ji, Chairman and CEO of China Natural Gas, commented: "We are very pleased with our strong growth and profitability for the fourth quarter and full year 2009. During this quarter, we increased our number of pipeline customers to 108,423, and we expanded the number of our CNG gas stations to 36. We continued to see higher sales volumes from the increasing number of hybrid fleet and municipal vehicles in the city Xi'an, which utilize compressed natural gas as a cleaner, cheaper and more efficient fuel alternative. We believe our strong performance in 2009 demonstrates the 
long-term market potential for our CNG gas stations as well as our piped natural gas and installation services for residential, commercial and industrial customers."

　　Financial Highlights for the Fiscal Year 2009:
　　-- Revenue increased 20% to $81.07 million, primarily due to the newly 
　　   added fueling stations in 2008 contributing full year revenue in 2009 
　　   and the addition of 1 new fueling station during 2009, as well as the 
　　   increase in installation and gasoline revenue;
　　-- Gross profit up 23% to $40.16 million;
　　-- Income from operations increased 19% to $25.05 million from 21.06 in 
　　   fiscal year 2008.
　　-- Non-GAAP net income of $20.21 million, or $1.20 per diluted share


　　Revenue for fiscal year 2009 increased 20% to $81.07 million from $67.72 million in fiscal year 2008, mainly due to the newly added fueling stations in 2008 contributing full year revenue in 2009 and the addition of 1 new fueling station during 2009, the increase in installation and gasoline revenue, and an increase in the number of residential and commercial pipeline customers to 108,423 as of December 31, 2009, from 96,033 as of December 31, 2008. Revenue from sales of natural gas increased 12% to $62.24 million from $55.75 million in the prior year. Installation and other revenue increased 69% to $12.45 million from $7.36 million in the fiscal year 2008. Gasoline revenue for the fiscal year was $6.38 million.
　　Gross profit for fiscal year 2009 increased 23% to $40.16 million from $32.74 million in 2008. Gross profit increase was mainly due to the increased sales volume of natural gas from fueling stations with low procurement price in coal bed methane from July 2008 to May 2009 in Henan; the increased sales volume of pipeline natural gas with stable unit price and cost; and the increased installation revenue from new pipeline customers. For fiscal year 2009, gross margin increased 120 basis points to 49.5% from 48.3% in 2008. The increase in gross margin was primarily due to lower coal bed methane procurement cost in Henan Province. 
　　Operating expenses in the fiscal year 2009 increased 29% to $15.11 million from $11.68 million, reflecting costs associated with larger business operations, as well as continued expenses related to the acquisition of Lingbao Natural Gas, Co. in October 2008 as well as the newly added fueling stations since 2008. Operating income increased 19% to $25.05 million from $21.06 million. Operating margin decreased 20 basis points to 30.9% from 31.1% in the prior year, as a result of increased operating expenses.
　　Net income for fiscal year 2009 increased 24% to $18.83 million, or $1.13 per share, from $15.19 million, or $1.04 per share, in the fiscal year 2008. Excluding the impact of the non-cash expenses explained above, net income would have been $20.21 million, or $1.21 per diluted share, representing a year-over-year growth of 8%.

　　Balance Sheet
　　As of December 31, 2009, the Company had cash and cash equivalents of $48.18 million, compared with $55.93 million as of September 30, 2009, and $29.2 million as of June 30, 2009.
　　Mr. Ji concluded: "We remain very optimistic about the market growth and potential for natural gas usage in the developing Shaanxi and Henan provinces. We will continue to focus on growing our business strategically by steadily expanding our CNG customer base, especially focusing on sales to fleet vehicles and taxis. We are confident that our strong balance sheet, our current infrastructure, technical expertise and strategic CNG expansions will help sustain our steady growth and profitability.
　　"We also continue to remain optimistic about the long-term opportunities in the LNG market as China aims to increase natural gas usage. As recently announced, we expect the first phase our liquefied natural gas plant, the first LNG plant approved in Shaanxi, to be completed by June 30th. Upon the completion of our new LNG plant, we intend to aggressively grow our LNG business so as to capture a sizable share of China's emerging LNG market. We believe that once in full operations, our LNG business will enable us to further strengthen our market position, accelerate our growth and will bring greater value to our shareholders."

　　Conference Call
　　Management will hold a conference call on Thursday, March 11, 2010 at 8:00 a.m. EST (5:00 a.m. Pacific) to discuss these fourth quarter and year end results. 
　　To participate in the call please dial (888) 549-7704, or (480) 629-9857 for international calls, approximately 10 minutes prior to the scheduled start time. Interested parties can also listen via a live Internet webcast, which can be found at the Company's website at http://www.naturalgaschina.com .
　　A replay of the call will be available for two weeks from 11:00 a.m. March 11, 2010, EST until 11:59 p.m. EDT on March 25, 2010. The number for the replay is (800) 406-7325, or (303) 590-3030 for international calls; the passcode for the replay is 4257535. In addition, a recording of the call will be available via the company's website at http://www.naturalgaschina.com for one year.

　　About China Natural Gas, Inc.
　　China Natural Gas transports and sells natural gas to vehicular fueling terminals, as well as commercial, industrial and residential customers through its distribution networks in China's Shaanxi and Henan Provinces. The Company owns approximately 120 km of high-pressure pipelines and operates 23 CNG fuelling stations in Shaanxi Province and 12 CNG fuelling stations in Henan Province. China Natural Gas' four primary business lines include: (1) the distribution and sale of CNG through Company-owned CNG fuelling stations for hybrid (natural gas/gasoline) powered vehicles; (2) the installation, distribution and sale of piped natural gas to residential, commercial and industrial customers through Company-owned pipelines; (3) the distribution and sale of gasoline through Company-owned CNG fuelling stations for hybrid (natural gas/gasoline) powered vehicles; and (4) the conversion of 
gasoline-fueled vehicles to hybrid (natural gas/gasoline) powered vehicles through its auto conversion division.

　　About Non-GAAP Financial Measures
　　This press release contains non-GAAP financial measures for earnings that exclude the effect of non-cash non-operating expense related to the Senior Notes issued in January and March 2008 as well as change in fair market value of the Company's outstanding warrants. China Natural Gas' management uses those non-GAAP financial measures when it internally evaluates the performance of business and makes operating decisions, including internal budgeting and performance measurement. China Natural Gas believes that providing the non-GAAP measures is useful to investors for a number of reasons. The non-GAAP measures provide a consistent basis for investors to understand China Natural Gas' financial performance in comparison to historical periods, and it allows investors to evaluate China Natural Gas' performance using the same methodology and information as that used by China Natural Gas' management. However, investors need to be aware that non-GAAP measures are subject to inherent limitations because they do not include all of the expenses included under GAAP and they involve the exercise of judgment of which charges are excluded from the non-GAAP financial measure.
　　The Company has provided a reconciliation table of the non-GAAP measure to the equivalent GAAP measure.



　　　　　　　　　　CHINA NATURAL GAS, INC. AND SUBSIDIARIES　　　　　　　　 
　　　　　　　　   RECONCILIATION OF GAAP TO NON-GAAP MEASURES　　　　　　   
　　　　FOR THE THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2009 AND 2008　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　 Three months ended   Twelve months ended 
　　　　　　　　　　　　　　　　　　　　 DECEMBER 31　　　　  DECEMBER 31　　 
　　　　　　　　　　　　　　　　　　　　2009　　  2008　　   2009　　  2008 
　　GAAP Net Income　　　　　　　　 6,118,889  3,732,315 18,830,787 15,190,368 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Add:　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Amortization of discount
　　   on senior notes　　　　　　　　　　　　   449,676　　280,250  1,004,677 
　　  Amortization of deferred
　　   offering costs　　　　　　　　　　　　　　 80,987　　 63,940　　227,989 
　　  Change in fair　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　   value of warrants　　　　　　 (442,432)　　　　　　1,031,330　　   
　　　　　　　　　　　　　　　　　　　　 
　　Non-GAAP Net Income　　　　　　 5,676,457  4,262,978 20,206,307 16,423,034 
　　 (Excludes all non-cash items)　　　　　　　　　　　　　　　　　　   
　　Weighted average shares　　　　　　　　　　　　　　　　　　　　　　  
　　 outstanding　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Basic　　　　　　　　　　　　21,183,904 14,600,154 16,624,294 14,600,154 
　　  Diluted　　　　　　　　　　  21,697,822 14,600,154 16,830,907 14,645,070 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　GAAP Basic EPS　　　　　　　　　　   0.29　　   0.26　　   1.13　　   1.04 
　　Add:　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Amortization of　　　　　　　　　　　　　　　　　　　　　　　　　　
　　  discount on senior　　　　　　　　　　　　　　　　　　　　　　　　 
　　  notes　　　　　　　　　　　　　　0.0000　　 0.0308　　 0.0169　　 0.0688 
　　  Amortization of　　　　　　　　　　　　　　　　　　　　　　　　　　
　　  deferred offering　　　　　　　　　　　　　　　　　　　　　　　　  
　　  costs　　　　　　　　　　　　　　0.0000　　 0.0055　　 0.0038　　 0.0156 
　　  Change in fair　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  value of warrants　　　　　　   (0.0209)　　　　　　   0.0620　　   
　　Non-GAAP Basic EPS　　　　　　　　   0.27　　   0.30　　   1.21　　   1.12 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　GAAP Diluted EPS　　　　　　　　　　 0.28　　   0.26　　   1.12　　   1.04 
　　Add:　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Amortization of discount
　　   on senior notes　　　　　　　　 0.0000　　 0.0308　　 0.0167　　 0.0686 
　　  Amortization of deferred
　　   offering costs　　　　　　　　  0.0000　　 0.0055　　 0.0038　　 0.0156 
　　  Change in fair　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  value of warrants　　　　　　   (0.0204)　　　　　　   0.0613　　   
　　Non-GAAP Diluted EPS　　　　　　　　 0.26　　   0.30　　   1.20　　   1.12 


　　SAFE HARBOR: FORWARD-LOOKING STATEMENTS
　　This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. For example, statements about the future plans and goals of the JV with CNPC and its prospects are forward looking and subject to risks. China Natural Gas, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 10-K, 10-Q and 8-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to fourth parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, risks outlined in the Company's filings with the U.S. Securities and Exchange Commission, including its registration statements on Forms S-1 and S-3, in each case as amended. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
　　This release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.



　　　　　　　　　　CHINA NATURAL GAS, INC. AND SUBSIDIARIES　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　   CONSOLIDATED BALANCE SHEETS　　　　　　　　　　   
　　　　　　　　　　　　AS OF DECEMBER 31, 2009 and 2008　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　2009　　　　  2008 
　　　　　　　　　　　　　　　　　　 ASSETS　　　　　　　　　　　　　　　　  
　　CURRENT ASSETS:　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　  Cash &amp; cash equivalents　　　　　　　　　　  $48,177,794　　$5,854,383 
　　  Accounts receivable, net of allowance
　　   for doubtful accounts of $163,280 and
　　   $0 as of December 31, 2009 and 2008,　　　　　　　　　　　　　　　　
　　   respectively　　　　　　　　　　　　　　　　  1,289,116　　   906,042 
　　  Other receivable　　　　　　　　　　　　　　　　 709,741　　　　60,784 
　　  Other receivable - employee advances　　　　　　 338,689　　   332,263 
　　  Inventories　　　　　　　　　　　　　　　　　　  841,837　　   519,739 
　　  Advances to suppliers　　　　　　　　　　　　　　596,868　　   837,592 
　　  Prepaid expense and other current assets　　   1,076,915　　   777,510 
　　  Loan receivable　　　　　　　　　　　　　　　　  293,400　　   293,400 
　　　　Total current assets　　　　　　　　　　　　53,324,360　　 9,581,713 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　INVESTMENT IN UNCONSOLIDATED JOINT VENTURES　　  1,467,000　　　　　　-- 
　　PROPERTY AND EQUIPMENT, NET　　　　　　　　　　 72,713,012　　76,028,272 
　　CONSTRUCTION IN PROGRESS　　　　　　　　　　　　52,918,236　　22,061,414 
　　DEFERRED FINANCING COSTS　　　　　　　　　　　　 1,336,998　　 1,746,830 
　　OTHER ASSETS　　　　　　　　　　　　　　　　　　15,854,910　　 8,844,062 
　　  TOTAL ASSETS　　　　　　　　　　　　　　　　$197,614,516  $118,262,291 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　  LIABILITIES AND STOCKHOLDERS' EQUITY　　　　　　　　   
　　CURRENT LIABILITIES:　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Accounts payable and accrued liabilities　　  $2,081,261　　  $800,013 
　　  Other payables　　　　　　　　　　　　　　　　　　80,788　　   124,151 
　　  Unearned revenue　　　　　　　　　　　　　　   1,813,641　　   944,402 
　　  Accrued interest　　　　　　　　　　　　　　　　 786,052　　   861,114 
　　  Taxes payable　　　　　　　　　　　　　　　　  1,901,577　　 1,862,585 
　　　　Total current liabilities　　　　　　　　　　6,663,319　　 4,592,265 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　LONG TERM LIABILITIES:　　　　　　　　　　　　　　　　　　　　　　   
　　  Notes payable, net of discount of　　　　　　　　　　　　　　　　  
　　   $12,707,713 and $15,478,395 as of　　　　　　　　　　　　　　　　  
　　   December 31, 2009 and 2008, respectively　　 27,292,287　　24,521,605 
　　  Derivative liabilities - warrants　　　　　　 19,545,638　　17,500,000 
　　　　Total long-term liabilities　　　　　　　　 46,837,925　　42,021,605 
　　　　Total liabilities　　　　　　　　　　　　   53,501,244　　46,613,870 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　COMMITMENTS AND CONTINGENCIES　　　　　　　　　　　　　　　　　　　　
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　STOCKHOLDERS' EQUITY:　　　　　　　　　　　　　　　　　　　　　　　　
　　  Preferred stock, $0.0001 per share;　　　　　　　　　　　　　　　　
　　   5,000,000 shares authorized; none issued　　　　　　 --　　　　　　-- 
　　  Common stock, $0.0001 per share; 45,000,000　　　　　　　　　　　　
　　   shares authorized, 21,183,904 shares　　　　　　　　　　　　　　   
　　   and 14,600,154 shares issued and　　　　　　　　　　　　　　　　 
　　   outstanding at December 31, 2009 and 2008　　　　 2,118　　　　 1,460 
　　  Additional paid-in capital　　　　　　　　　　79,851,251　　32,115,043 
　　  Cumulative translation adjustment　　　　　　  8,714,019　　 8,661,060 
　　  Statutory reserves　　　　　　　　　　　　　　 5,962,695　　 3,730,083 
　　  Retained earnings　　　　　　　　　　　　　　 49,583,189　　27,140,775 
　　　　Total stockholders' equity　　　　　　　　 144,113,272　　71,648,421 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　  TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY  $197,614,516  $118,262,291 



　　　　　　　　　　CHINA NATURAL GAS, INC. AND SUBSIDIARIES　　　　　　　　 
　　　　CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME　　 
　　　　　　  FOR THE YEARS ENDED DECEMBER 31, 2009, 2008 AND 2007　　　　   
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　Years Ended December 31,　　　　  
　　　　　　　　　　　　　　　　　　   2009　　　　　　2008　　　　  2007 
　　Revenues　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Natural gas revenue　　　　  $62,236,342　　 $55,746,893　　28,278,033 
　　  Gasoline revenue　　　　　　   6,384,172　　   4,616,052　　　　38,486 
　　  Installation and others　　   12,445,604　　   7,357,714　　 7,075,534 
　　　　Total revenues　　　　　　  81,066,118　　  67,720,659　　35,392,053 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Cost of revenues　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Natural gas cost　　　　　　  29,478,854　　  27,234,508　　14,838,997 
　　  Gasoline cost　　　　　　　　  5,993,207　　   4,277,458　　　　34,747 
　　  Installation and others　　　　5,432,978　　   3,469,671　　 3,151,331 
　　　　Total cost of revenues　　  40,905,039　　  34,981,637　　18,025,075 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Gross profit　　　　　　　　　　40,161,079　　  32,739,022　　17,366,978 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Operating expenses　　　　　　　　　　　　　　　　　　　　　　　　   
　　  Selling expenses　　　　　　   9,566,387　　   7,651,948　　 3,451,161 
　　  General and　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　   administrative expenses　　   5,541,885　　   4,024,882　　 2,837,768 
　　　　Total operating　　　　　　　　　　　　　　　　　　　　　　  
　　　　 expenses　　　　　　　　   15,108,272　　  11,676,830　　 6,288,929 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Income from operations　　　　  25,052,807　　  21,062,192　　11,078,049 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Non-operating income　　　　　　　　　　　　　　　　　　　　　　　　 
　　 (expense):　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　  Interest income　　　　　　　　  125,287　　　　 209,502　　　　70,697 
　　  Interest expense　　　　　　　　(747,172)　　 (2,228,244)　　　　   -- 
　　  Other income (expense), net　　 (186,805)　　　　111,859　　　　31,976 
　　  Change in fair value of　　　　　　　　　　　　　　　　　　　　　　
　　   warrants　　　　　　　　　　 (1,031,330)　　　　　　 --　　　　　　-- 
　　  Foreign currency　　　　　　　　　　　　　　　　　　　　　　　　   
　　   exchange loss　　　　　　　　   (69,077)　　   (397,299)　　 (150,729)
　　　　Total non-operating　　　　　　　　　　　　　　　　　　　　  
　　　　 expense　　　　　　　　　　(1,909,097)　　 (2,304,182)　　  (48,056)
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Income before income tax　　　　23,143,710　　  18,758,010　　11,029,993 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Provision for income tax　　　　 4,312,923　　   3,567,642　　 1,913,923 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Net income　　　　　　　　　　  18,830,787　　  15,190,368　　 9,116,070 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Other comprehensive income　　　　　　　　　　　　　　　　　　　　   
　　  Foreign currency　　　　　　　　　　　　　　　　　　　　　　　　   
　　   translation gain　　　　　　　　 52,959　　   5,184,035　　 2,637,573 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Comprehensive income　　　　   $18,883,746　　 $20,374,403　　11,753,643 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Weighted average shares　　　　　　　　　　　　　　　　　　　　　　  
　　 outstanding　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Basic　　　　　　　　　　　　 16,624,294　　  14,600,154　　13,100,340 
　　  Diluted　　　　　　　　　　   16,830,907　　  14,645,070　　13,150,901 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Earnings per share　　　　　　　　　　　　　　　　　　　　　　　　   
　　  Basic　　　　　　　　　　　　　　  $1.13　　　　   $1.04　　　　  0.70 
　　  Diluted　　　　　　　　　　　　　　$1.12　　　　   $1.04　　　　  0.69 



　　　　　　　　　　 CHINA NATURAL GAS, INC. AND SUBSIDIARIES　　　　　　　　 
　　　　　　　　　　  CONSOLIDATED STATEMENTS OF CASH FLOWS　　　　　　　　   
　　　　　　   FOR THE YEARS ENDED DECEMBER 31, 2009, 2008 AND 2007　　　　   
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　 Years Ended December 31,　　  
　　　　　　　　　　　　　　　　　　　　　　 2009　　　　 2008　　　　2007 
　　CASH FLOWS FROM OPERATING　　　　　　　　　　　　　　　　　　　　　　
　　 ACTIVITIES:　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Net income　　　　　　　　　　　　 $18,830,787  $15,190,368 $ 9,116,070 
　　  Adjustments to reconcile net　　　　　　　　　　　　　　　　　　　　
　　   income to net cash provided
　　   by operating activities: 
　　　　Depreciation and amortization　　  5,571,772　　3,474,905   1,639,685 
　　　　Loss on disposal of equipment　　　　 21,373　　   24,806　　　　  -- 
　　　　Amortization of discount on　　　　　　　　　　　　　　　　　　   
　　　　 senior notes　　　　　　　　　　　　280,250　　1,004,677　　　　  -- 
　　　　Amortization of financing costs　　   63,940　　  227,989　　　　  -- 
　　　　Options issued for services　　　　   66,535　　   66,704　　　　  -- 
　　　　Stock based compensation　　　　　　 158,517　　　　   --　　　　  -- 
　　　　Change in fair value of　　　　　　　　　　　　　　　　　　　　   
　　　　 warrants　　　　　　　　　　　　  1,031,330　　　　   --　　　　  -- 
　　　　Change in assets and　　　　　　　　　　　　　　　　　　　　　　  
　　　　 liabilities:　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　　　  Accounts receivable　　　　　　   (387,948)　　(568,370)　　290,660 
　　　　  Other receivable　　　　　　　　  (644,083)　　 247,349　　  36,929 
　　　　  Other receivable - employee　　　　　　　　　　　　　　　　　　 
　　　　   advances　　　　　　　　　　　　   (6,425)　　 (55,747)　　　　 -- 
　　　　  Inventories　　　　　　　　　　   (322,099)　　(267,470)　　 71,226 
　　　　  Advances to suppliers　　　　　　  240,724　　 (125,896)　　245,514 
　　　　  Prepaid expense and other　　　　　　　　　　　　　　　　　　   
　　　　   current assets　　　　　　　　   (306,445)　　(642,857)　　(11,113)
　　　　  Accounts payable and accrued　　　　　　　　　　　　　　　　　　
　　　　   liabilities　　　　　　　　　　　　45,888　　  275,929　　  28,531 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　　　  Other payables　　　　　　　　　　 (43,362)　　  63,239　　(208,669)
　　　　  Unearned revenue　　　　　　　　   869,239　　  583,940　　  22,425 
　　　　  Accrued interest　　　　　　　　   (75,062)　　 861,114　　　　  -- 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　　　  Taxes payable　　　　　　　　　　   38,991　　  556,121　　(754,817)
　　 Net cash provided by operating　　　　　　　　　　　　　　　　 
　　  activities　　　　　　　　　　　　  25,433,922   20,916,801  10,476,441 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　CASH FLOWS FROM INVESTING　　　　　　　　　　　　　　　　　　　　　　
　　 ACTIVITIES　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　　　Payment on investment in　　　　　　　　　　　　　　　　　　　　 
　　　　 unconsolidated joint ventures　　(1,467,000)　　　　  --　　　　  -- 
　　　　Purchase of property and　　　　　　　　　　　　
　　　　 equipment　　　　　　　　　　　　(1,074,066) (43,225,673)(14,180,053)
　　　　Proceeds from sales of　　　　　　　　　　　　　　　　　　　　   
　　　　 equipment　　　　　　　　　　　　　　41,325　　  194,891　　　　  -- 
　　　　Proceeds from (purchases of)　　　　　　　　　　　　　　　　　　 
　　　　 short term investments　　　　　　　　   --　　  250,821　　(229,106)
　　　　Additions to construction in　　　　　　   
　　　　 progress　　　　　　　　　　　　(28,020,498) (19,012,750)   (519,309)
　　　　Prepayment on long term assets　　(6,139,766)  (5,729,833) (1,914,343)
　　　　Return of acquisition deposit　　   (283,200)　　　　  --　　　　  -- 
　　　　Payment for intangible assets　　   (161,486)　　 (53,826)　　　　 -- 
　　　　Payment for land use rights　　　　 (432,566)　　 (30,354)　　(42,529)
　　  Net cash used in investing　　　　　　  
　　   activities　　　　　　　　　　　　(37,537,257) (67,606,724)(16,885,340)
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　CASH FLOWS FROM FINANCING　　　　　　　　　　　　　　　　　　　　　　
　　 ACTIVITIES:　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　Stock issued for cash　　　　　　 57,607,813　　　　   --  15,000,000 
　　　　Proceeds from senior notes　　　　　　　　--   40,000,000　　　　  -- 
　　　　Payment for offering costs　　　　(3,237,454)  (2,122,509) (1,176,533)
　　  Net cash provided by financing　　　　　　　　　　　　　　　　
　　   activities　　　　　　　　　　　　 54,370,359   37,877,491  13,823,467 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Effect of exchange rate changes on　　　　　　　　　　　　　　　　   
　　 cash and cash equivalents　　　　　　　　56,387　　1,375,086　　 582,948 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　NET (DECREASE) INCREASE IN CASH &amp;　　　　　　　　　　　　　　　　　　
　　 CASH EQUIVALENTS　　　　　　　　　　 42,323,411   (7,437,346)  7,997,516 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　CASH &amp; CASH EQUIVALENTS, BEGINNING　　　　　　　　　　　　　　　　   
　　 OF YEAR　　　　　　　　　　　　　　   5,854,383   13,291,729   5,294,213 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　CASH &amp; CASH EQUIVALENTS, END OF　　　　　　　　　　　　　　　　
　　 YEAR　　　　　　　　　　　　　　　　$48,177,794   $5,854,383 $13,291,729 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　SUPPLEMENTAL DISCLOSURE OF CASH　　　　　　　　　　　　　　　　　　  
　　 FLOW INFORMATION:　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Interest paid, net of　　　　　　　　　　　　　　　　　　　　　　   
　　   capitalized interest　　　　　　　　 $503,845　　 $902,777　　　　 $-- 
　　  Income taxes paid　　　　　　　　   $4,178,066   $2,998,627  $2,387,487 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Non-cash transactions for investing　　　　　　　　　　　　　　　　  
　　 and financing activities:　　　　　　　　　　　　　　　　　　　　   
　　  Purchase of equipment through　　　　　　　　　　　　　　　　　　  
　　   accounts payable　　　　　　　　   $1,234,603　　　　  $--　　　　 $-- 
　　  Construction in progress　　　　　　　　　　　　　　　　　　　　   
　　   transferred to property and　　　　　　　　　　　　　　　　　　　　
　　   equipment　　　　　　　　　　　　　　　　 $--　　 $823,464　　　　 $-- 
　　  Prepayment on long-term assets　　　　　　　　　　　　　　　　　　 
　　   transferred to property and　　　　　　　　　　　　　　　　　　　　
　　   equipment　　　　　　　　　　　　　　　　 $--　　 $405,630　　　　 $-- 


　　For more information, please contact:

　　China Natural Gas Inc.
　　 Jacky Shi
　　 IR Director
　　 Tel:   +86-29-8832-3325 x922
　　 Cell:  +86-139-9287-9998
　　 Email: yjshi@naturalgaschina.com

　　Investor Relations:
　　RedChip Companies, Inc.
　　 Jon Cunningham
　　 Tel:   +1-800-733-2447 x107
　　 Email: info@redchip.com
　　 Web:   http://www.RedChip.com


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		<detail><![CDATA[ 
　　- 4Q09 Revenue Increases 18% YoY to $21.67 Million

　　- 4Q09 Gross Profit Increases 11% YoY to $10.53 Million

　　NEW YORK, March 11 /PRNewswire-Asia/ -- China Natural Gas, Inc. ("China Natural Gas" or the "Company") (Nasdaq: CHNG), a leading provider of compressed natural gas (CNG) for vehicular fuel and pipeline natural gas for industrial, commercial and residential use in Xi'an, China, today announced its financial results for the fourth quarter and full fiscal year ended December 31, 2009.

　　Fourth Quarter 2009 Results
　　Revenue in the fourth quarter of 2009 increased 18% to $21.67 million from $18.40 million in the fourth quarter of 2008, driven by additional fueling stations and higher residential and commercial pipeline customers. Sales of natural gas grew 6% year-over-year to $16.10 million, from $15.25 million in the fourth quarter of 2008. Gasoline revenue in the fourth quarter of 2009 increased 69% to $1.94 million, from $1.15 million in the prior year's period. Installation and services revenue grew 81% year-over-year to $3.63 million, from $2.0 million a year ago. In the fourth quarter of 2009, sales of natural gas, gasoline, and installation and other services contributed 74%, 9%, and 17% of total revenue, respectively.
　　Gross profit in the fourth quarter of 2009 expanded 11% to $10.53 million, from $9.49 million in the prior year's same period, driven by the increased sales volume of natural gas and increased revenue from installation business. Gross margin in the fourth quarter of 2009 was 49%, compared to 52% a year ago, mainly due to a 30% increase of coal bed methane procurement cost in Henan province.
　　Operating income in the fourth quarter of 2009 was $6.77 million, an increase of 17% year-over-year, from $5.77 million in the prior year's period. Meanwhile, operating expenses in the fourth quarter of 2009 increased by approximately $38,518 to $3.76 million, versus $3.72 million in the prior year's period.
　　During the quarter, the Company recognized $442,432 non-cash gain from an estimated change in the fair value of warrants, versus zero in the fourth quarter of 2008.
　　Income tax expense was $1.13 million for an effective tax rate of 16%, as compared to an effective tax rate of 21% in the fourth quarter of 2008. Net income in the fourth quarter of 2009 increased 64% to $6.12 million, or $0.27 per diluted share, from $3.73 million, or $0.26 per diluted share, in the fourth quarter of 2008.
　　Excluding the impact of the non-cash expenses (see "About Non-GAAP Financial Measures" toward the end of this release), adjusted net income was $5.68 million, versus $4.26 million in the fourth quarter of 2008. For the fourth quarter of 2009, adjusted earnings per diluted share was $0.26, versus $0.30 per diluted share in the fourth quarter of 2008.
　　Mr. Qinan Ji, Chairman and CEO of China Natural Gas, commented: "We are very pleased with our strong growth and profitability for the fourth quarter and full year 2009. During this quarter, we increased our number of pipeline customers to 108,423, and we expanded the number of our CNG gas stations to 36. We continued to see higher sales volumes from the increasing number of hybrid fleet and municipal vehicles in the city Xi'an, which utilize compressed natural gas as a cleaner, cheaper and more efficient fuel alternative. We believe our strong performance in 2009 demonstrates the 
long-term market potential for our CNG gas stations as well as our piped natural gas and installation services for residential, commercial and industrial customers."

　　Financial Highlights for the Fiscal Year 2009:
　　-- Revenue increased 20% to $81.07 million, primarily due to the newly 
　　   added fueling stations in 2008 contributing full year revenue in 2009 
　　   and the addition of 1 new fueling station during 2009, as well as the 
　　   increase in installation and gasoline revenue;
　　-- Gross profit up 23% to $40.16 million;
　　-- Income from operations increased 19% to $25.05 million from 21.06 in 
　　   fiscal year 2008.
　　-- Non-GAAP net income of $20.21 million, or $1.20 per diluted share


　　Revenue for fiscal year 2009 increased 20% to $81.07 million from $67.72 million in fiscal year 2008, mainly due to the newly added fueling stations in 2008 contributing full year revenue in 2009 and the addition of 1 new fueling station during 2009, the increase in installation and gasoline revenue, and an increase in the number of residential and commercial pipeline customers to 108,423 as of December 31, 2009, from 96,033 as of December 31, 2008. Revenue from sales of natural gas increased 12% to $62.24 million from $55.75 million in the prior year. Installation and other revenue increased 69% to $12.45 million from $7.36 million in the fiscal year 2008. Gasoline revenue for the fiscal year was $6.38 million.
　　Gross profit for fiscal year 2009 increased 23% to $40.16 million from $32.74 million in 2008. Gross profit increase was mainly due to the increased sales volume of natural gas from fueling stations with low procurement price in coal bed methane from July 2008 to May 2009 in Henan; the increased sales volume of pipeline natural gas with stable unit price and cost; and the increased installation revenue from new pipeline customers. For fiscal year 2009, gross margin increased 120 basis points to 49.5% from 48.3% in 2008. The increase in gross margin was primarily due to lower coal bed methane procurement cost in Henan Province. 
　　Operating expenses in the fiscal year 2009 increased 29% to $15.11 million from $11.68 million, reflecting costs associated with larger business operations, as well as continued expenses related to the acquisition of Lingbao Natural Gas, Co. in October 2008 as well as the newly added fueling stations since 2008. Operating income increased 19% to $25.05 million from $21.06 million. Operating margin decreased 20 basis points to 30.9% from 31.1% in the prior year, as a result of increased operating expenses.
　　Net income for fiscal year 2009 increased 24% to $18.83 million, or $1.13 per share, from $15.19 million, or $1.04 per share, in the fiscal year 2008. Excluding the impact of the non-cash expenses explained above, net income would have been $20.21 million, or $1.21 per diluted share, representing a year-over-year growth of 8%.

　　Balance Sheet
　　As of December 31, 2009, the Company had cash and cash equivalents of $48.18 million, compared with $55.93 million as of September 30, 2009, and $29.2 million as of June 30, 2009.
　　Mr. Ji concluded: "We remain very optimistic about the market growth and potential for natural gas usage in the developing Shaanxi and Henan provinces. We will continue to focus on growing our business strategically by steadily expanding our CNG customer base, especially focusing on sales to fleet vehicles and taxis. We are confident that our strong balance sheet, our current infrastructure, technical expertise and strategic CNG expansions will help sustain our steady growth and profitability.
　　"We also continue to remain optimistic about the long-term opportunities in the LNG market as China aims to increase natural gas usage. As recently announced, we expect the first phase our liquefied natural gas plant, the first LNG plant approved in Shaanxi, to be completed by June 30th. Upon the completion of our new LNG plant, we intend to aggressively grow our LNG business so as to capture a sizable share of China's emerging LNG market. We believe that once in full operations, our LNG business will enable us to further strengthen our market position, accelerate our growth and will bring greater value to our shareholders."

　　Conference Call
　　Management will hold a conference call on Thursday, March 11, 2010 at 8:00 a.m. EST (5:00 a.m. Pacific) to discuss these fourth quarter and year end results. 
　　To participate in the call please dial (888) 549-7704, or (480) 629-9857 for international calls, approximately 10 minutes prior to the scheduled start time. Interested parties can also listen via a live Internet webcast, which can be found at the Company's website at http://www.naturalgaschina.com .
　　A replay of the call will be available for two weeks from 11:00 a.m. March 11, 2010, EST until 11:59 p.m. EDT on March 25, 2010. The number for the replay is (800) 406-7325, or (303) 590-3030 for international calls; the passcode for the replay is 4257535. In addition, a recording of the call will be available via the company's website at http://www.naturalgaschina.com for one year.

　　About China Natural Gas, Inc.
　　China Natural Gas transports and sells natural gas to vehicular fueling terminals, as well as commercial, industrial and residential customers through its distribution networks in China's Shaanxi and Henan Provinces. The Company owns approximately 120 km of high-pressure pipelines and operates 23 CNG fuelling stations in Shaanxi Province and 12 CNG fuelling stations in Henan Province. China Natural Gas' four primary business lines include: (1) the distribution and sale of CNG through Company-owned CNG fuelling stations for hybrid (natural gas/gasoline) powered vehicles; (2) the installation, distribution and sale of piped natural gas to residential, commercial and industrial customers through Company-owned pipelines; (3) the distribution and sale of gasoline through Company-owned CNG fuelling stations for hybrid (natural gas/gasoline) powered vehicles; and (4) the conversion of 
gasoline-fueled vehicles to hybrid (natural gas/gasoline) powered vehicles through its auto conversion division.

　　About Non-GAAP Financial Measures
　　This press release contains non-GAAP financial measures for earnings that exclude the effect of non-cash non-operating expense related to the Senior Notes issued in January and March 2008 as well as change in fair market value of the Company's outstanding warrants. China Natural Gas' management uses those non-GAAP financial measures when it internally evaluates the performance of business and makes operating decisions, including internal budgeting and performance measurement. China Natural Gas believes that providing the non-GAAP measures is useful to investors for a number of reasons. The non-GAAP measures provide a consistent basis for investors to understand China Natural Gas' financial performance in comparison to historical periods, and it allows investors to evaluate China Natural Gas' performance using the same methodology and information as that used by China Natural Gas' management. However, investors need to be aware that non-GAAP measures are subject to inherent limitations because they do not include all of the expenses included under GAAP and they involve the exercise of judgment of which charges are excluded from the non-GAAP financial measure.
　　The Company has provided a reconciliation table of the non-GAAP measure to the equivalent GAAP measure.



　　　　　　　　　　CHINA NATURAL GAS, INC. AND SUBSIDIARIES　　　　　　　　 
　　　　　　　　   RECONCILIATION OF GAAP TO NON-GAAP MEASURES　　　　　　   
　　　　FOR THE THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2009 AND 2008　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　 Three months ended   Twelve months ended 
　　　　　　　　　　　　　　　　　　　　 DECEMBER 31　　　　  DECEMBER 31　　 
　　　　　　　　　　　　　　　　　　　　2009　　  2008　　   2009　　  2008 
　　GAAP Net Income　　　　　　　　 6,118,889  3,732,315 18,830,787 15,190,368 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Add:　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Amortization of discount
　　   on senior notes　　　　　　　　　　　　   449,676　　280,250  1,004,677 
　　  Amortization of deferred
　　   offering costs　　　　　　　　　　　　　　 80,987　　 63,940　　227,989 
　　  Change in fair　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　   value of warrants　　　　　　 (442,432)　　　　　　1,031,330　　   
　　　　　　　　　　　　　　　　　　　　 
　　Non-GAAP Net Income　　　　　　 5,676,457  4,262,978 20,206,307 16,423,034 
　　 (Excludes all non-cash items)　　　　　　　　　　　　　　　　　　   
　　Weighted average shares　　　　　　　　　　　　　　　　　　　　　　  
　　 outstanding　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Basic　　　　　　　　　　　　21,183,904 14,600,154 16,624,294 14,600,154 
　　  Diluted　　　　　　　　　　  21,697,822 14,600,154 16,830,907 14,645,070 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　GAAP Basic EPS　　　　　　　　　　   0.29　　   0.26　　   1.13　　   1.04 
　　Add:　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Amortization of　　　　　　　　　　　　　　　　　　　　　　　　　　
　　  discount on senior　　　　　　　　　　　　　　　　　　　　　　　　 
　　  notes　　　　　　　　　　　　　　0.0000　　 0.0308　　 0.0169　　 0.0688 
　　  Amortization of　　　　　　　　　　　　　　　　　　　　　　　　　　
　　  deferred offering　　　　　　　　　　　　　　　　　　　　　　　　  
　　  costs　　　　　　　　　　　　　　0.0000　　 0.0055　　 0.0038　　 0.0156 
　　  Change in fair　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  value of warrants　　　　　　   (0.0209)　　　　　　   0.0620　　   
　　Non-GAAP Basic EPS　　　　　　　　   0.27　　   0.30　　   1.21　　   1.12 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　GAAP Diluted EPS　　　　　　　　　　 0.28　　   0.26　　   1.12　　   1.04 
　　Add:　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Amortization of discount
　　   on senior notes　　　　　　　　 0.0000　　 0.0308　　 0.0167　　 0.0686 
　　  Amortization of deferred
　　   offering costs　　　　　　　　  0.0000　　 0.0055　　 0.0038　　 0.0156 
　　  Change in fair　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  value of warrants　　　　　　   (0.0204)　　　　　　   0.0613　　   
　　Non-GAAP Diluted EPS　　　　　　　　 0.26　　   0.30　　   1.20　　   1.12 


　　SAFE HARBOR: FORWARD-LOOKING STATEMENTS
　　This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. For example, statements about the future plans and goals of the JV with CNPC and its prospects are forward looking and subject to risks. China Natural Gas, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 10-K, 10-Q and 8-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to fourth parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, risks outlined in the Company's filings with the U.S. Securities and Exchange Commission, including its registration statements on Forms S-1 and S-3, in each case as amended. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
　　This release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.



　　　　　　　　　　CHINA NATURAL GAS, INC. AND SUBSIDIARIES　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　   CONSOLIDATED BALANCE SHEETS　　　　　　　　　　   
　　　　　　　　　　　　AS OF DECEMBER 31, 2009 and 2008　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　2009　　　　  2008 
　　　　　　　　　　　　　　　　　　 ASSETS　　　　　　　　　　　　　　　　  
　　CURRENT ASSETS:　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　  Cash &amp; cash equivalents　　　　　　　　　　  $48,177,794　　$5,854,383 
　　  Accounts receivable, net of allowance
　　   for doubtful accounts of $163,280 and
　　   $0 as of December 31, 2009 and 2008,　　　　　　　　　　　　　　　　
　　   respectively　　　　　　　　　　　　　　　　  1,289,116　　   906,042 
　　  Other receivable　　　　　　　　　　　　　　　　 709,741　　　　60,784 
　　  Other receivable - employee advances　　　　　　 338,689　　   332,263 
　　  Inventories　　　　　　　　　　　　　　　　　　  841,837　　   519,739 
　　  Advances to suppliers　　　　　　　　　　　　　　596,868　　   837,592 
　　  Prepaid expense and other current assets　　   1,076,915　　   777,510 
　　  Loan receivable　　　　　　　　　　　　　　　　  293,400　　   293,400 
　　　　Total current assets　　　　　　　　　　　　53,324,360　　 9,581,713 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　INVESTMENT IN UNCONSOLIDATED JOINT VENTURES　　  1,467,000　　　　　　-- 
　　PROPERTY AND EQUIPMENT, NET　　　　　　　　　　 72,713,012　　76,028,272 
　　CONSTRUCTION IN PROGRESS　　　　　　　　　　　　52,918,236　　22,061,414 
　　DEFERRED FINANCING COSTS　　　　　　　　　　　　 1,336,998　　 1,746,830 
　　OTHER ASSETS　　　　　　　　　　　　　　　　　　15,854,910　　 8,844,062 
　　  TOTAL ASSETS　　　　　　　　　　　　　　　　$197,614,516  $118,262,291 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　  LIABILITIES AND STOCKHOLDERS' EQUITY　　　　　　　　   
　　CURRENT LIABILITIES:　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Accounts payable and accrued liabilities　　  $2,081,261　　  $800,013 
　　  Other payables　　　　　　　　　　　　　　　　　　80,788　　   124,151 
　　  Unearned revenue　　　　　　　　　　　　　　   1,813,641　　   944,402 
　　  Accrued interest　　　　　　　　　　　　　　　　 786,052　　   861,114 
　　  Taxes payable　　　　　　　　　　　　　　　　  1,901,577　　 1,862,585 
　　　　Total current liabilities　　　　　　　　　　6,663,319　　 4,592,265 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　LONG TERM LIABILITIES:　　　　　　　　　　　　　　　　　　　　　　   
　　  Notes payable, net of discount of　　　　　　　　　　　　　　　　  
　　   $12,707,713 and $15,478,395 as of　　　　　　　　　　　　　　　　  
　　   December 31, 2009 and 2008, respectively　　 27,292,287　　24,521,605 
　　  Derivative liabilities - warrants　　　　　　 19,545,638　　17,500,000 
　　　　Total long-term liabilities　　　　　　　　 46,837,925　　42,021,605 
　　　　Total liabilities　　　　　　　　　　　　   53,501,244　　46,613,870 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　COMMITMENTS AND CONTINGENCIES　　　　　　　　　　　　　　　　　　　　
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　STOCKHOLDERS' EQUITY:　　　　　　　　　　　　　　　　　　　　　　　　
　　  Preferred stock, $0.0001 per share;　　　　　　　　　　　　　　　　
　　   5,000,000 shares authorized; none issued　　　　　　 --　　　　　　-- 
　　  Common stock, $0.0001 per share; 45,000,000　　　　　　　　　　　　
　　   shares authorized, 21,183,904 shares　　　　　　　　　　　　　　   
　　   and 14,600,154 shares issued and　　　　　　　　　　　　　　　　 
　　   outstanding at December 31, 2009 and 2008　　　　 2,118　　　　 1,460 
　　  Additional paid-in capital　　　　　　　　　　79,851,251　　32,115,043 
　　  Cumulative translation adjustment　　　　　　  8,714,019　　 8,661,060 
　　  Statutory reserves　　　　　　　　　　　　　　 5,962,695　　 3,730,083 
　　  Retained earnings　　　　　　　　　　　　　　 49,583,189　　27,140,775 
　　　　Total stockholders' equity　　　　　　　　 144,113,272　　71,648,421 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　  TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY  $197,614,516  $118,262,291 



　　　　　　　　　　CHINA NATURAL GAS, INC. AND SUBSIDIARIES　　　　　　　　 
　　　　CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME　　 
　　　　　　  FOR THE YEARS ENDED DECEMBER 31, 2009, 2008 AND 2007　　　　   
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　Years Ended December 31,　　　　  
　　　　　　　　　　　　　　　　　　   2009　　　　　　2008　　　　  2007 
　　Revenues　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Natural gas revenue　　　　  $62,236,342　　 $55,746,893　　28,278,033 
　　  Gasoline revenue　　　　　　   6,384,172　　   4,616,052　　　　38,486 
　　  Installation and others　　   12,445,604　　   7,357,714　　 7,075,534 
　　　　Total revenues　　　　　　  81,066,118　　  67,720,659　　35,392,053 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Cost of revenues　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Natural gas cost　　　　　　  29,478,854　　  27,234,508　　14,838,997 
　　  Gasoline cost　　　　　　　　  5,993,207　　   4,277,458　　　　34,747 
　　  Installation and others　　　　5,432,978　　   3,469,671　　 3,151,331 
　　　　Total cost of revenues　　  40,905,039　　  34,981,637　　18,025,075 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Gross profit　　　　　　　　　　40,161,079　　  32,739,022　　17,366,978 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Operating expenses　　　　　　　　　　　　　　　　　　　　　　　　   
　　  Selling expenses　　　　　　   9,566,387　　   7,651,948　　 3,451,161 
　　  General and　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　   administrative expenses　　   5,541,885　　   4,024,882　　 2,837,768 
　　　　Total operating　　　　　　　　　　　　　　　　　　　　　　  
　　　　 expenses　　　　　　　　   15,108,272　　  11,676,830　　 6,288,929 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Income from operations　　　　  25,052,807　　  21,062,192　　11,078,049 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Non-operating income　　　　　　　　　　　　　　　　　　　　　　　　 
　　 (expense):　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　  Interest income　　　　　　　　  125,287　　　　 209,502　　　　70,697 
　　  Interest expense　　　　　　　　(747,172)　　 (2,228,244)　　　　   -- 
　　  Other income (expense), net　　 (186,805)　　　　111,859　　　　31,976 
　　  Change in fair value of　　　　　　　　　　　　　　　　　　　　　　
　　   warrants　　　　　　　　　　 (1,031,330)　　　　　　 --　　　　　　-- 
　　  Foreign currency　　　　　　　　　　　　　　　　　　　　　　　　   
　　   exchange loss　　　　　　　　   (69,077)　　   (397,299)　　 (150,729)
　　　　Total non-operating　　　　　　　　　　　　　　　　　　　　  
　　　　 expense　　　　　　　　　　(1,909,097)　　 (2,304,182)　　  (48,056)
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Income before income tax　　　　23,143,710　　  18,758,010　　11,029,993 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Provision for income tax　　　　 4,312,923　　   3,567,642　　 1,913,923 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Net income　　　　　　　　　　  18,830,787　　  15,190,368　　 9,116,070 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Other comprehensive income　　　　　　　　　　　　　　　　　　　　   
　　  Foreign currency　　　　　　　　　　　　　　　　　　　　　　　　   
　　   translation gain　　　　　　　　 52,959　　   5,184,035　　 2,637,573 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Comprehensive income　　　　   $18,883,746　　 $20,374,403　　11,753,643 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Weighted average shares　　　　　　　　　　　　　　　　　　　　　　  
　　 outstanding　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Basic　　　　　　　　　　　　 16,624,294　　  14,600,154　　13,100,340 
　　  Diluted　　　　　　　　　　   16,830,907　　  14,645,070　　13,150,901 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Earnings per share　　　　　　　　　　　　　　　　　　　　　　　　   
　　  Basic　　　　　　　　　　　　　　  $1.13　　　　   $1.04　　　　  0.70 
　　  Diluted　　　　　　　　　　　　　　$1.12　　　　   $1.04　　　　  0.69 



　　　　　　　　　　 CHINA NATURAL GAS, INC. AND SUBSIDIARIES　　　　　　　　 
　　　　　　　　　　  CONSOLIDATED STATEMENTS OF CASH FLOWS　　　　　　　　   
　　　　　　   FOR THE YEARS ENDED DECEMBER 31, 2009, 2008 AND 2007　　　　   
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　 Years Ended December 31,　　  
　　　　　　　　　　　　　　　　　　　　　　 2009　　　　 2008　　　　2007 
　　CASH FLOWS FROM OPERATING　　　　　　　　　　　　　　　　　　　　　　
　　 ACTIVITIES:　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Net income　　　　　　　　　　　　 $18,830,787  $15,190,368 $ 9,116,070 
　　  Adjustments to reconcile net　　　　　　　　　　　　　　　　　　　　
　　   income to net cash provided
　　   by operating activities: 
　　　　Depreciation and amortization　　  5,571,772　　3,474,905   1,639,685 
　　　　Loss on disposal of equipment　　　　 21,373　　   24,806　　　　  -- 
　　　　Amortization of discount on　　　　　　　　　　　　　　　　　　   
　　　　 senior notes　　　　　　　　　　　　280,250　　1,004,677　　　　  -- 
　　　　Amortization of financing costs　　   63,940　　  227,989　　　　  -- 
　　　　Options issued for services　　　　   66,535　　   66,704　　　　  -- 
　　　　Stock based compensation　　　　　　 158,517　　　　   --　　　　  -- 
　　　　Change in fair value of　　　　　　　　　　　　　　　　　　　　   
　　　　 warrants　　　　　　　　　　　　  1,031,330　　　　   --　　　　  -- 
　　　　Change in assets and　　　　　　　　　　　　　　　　　　　　　　  
　　　　 liabilities:　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　　　  Accounts receivable　　　　　　   (387,948)　　(568,370)　　290,660 
　　　　  Other receivable　　　　　　　　  (644,083)　　 247,349　　  36,929 
　　　　  Other receivable - employee　　　　　　　　　　　　　　　　　　 
　　　　   advances　　　　　　　　　　　　   (6,425)　　 (55,747)　　　　 -- 
　　　　  Inventories　　　　　　　　　　   (322,099)　　(267,470)　　 71,226 
　　　　  Advances to suppliers　　　　　　  240,724　　 (125,896)　　245,514 
　　　　  Prepaid expense and other　　　　　　　　　　　　　　　　　　   
　　　　   current assets　　　　　　　　   (306,445)　　(642,857)　　(11,113)
　　　　  Accounts payable and accrued　　　　　　　　　　　　　　　　　　
　　　　   liabilities　　　　　　　　　　　　45,888　　  275,929　　  28,531 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　　　  Other payables　　　　　　　　　　 (43,362)　　  63,239　　(208,669)
　　　　  Unearned revenue　　　　　　　　   869,239　　  583,940　　  22,425 
　　　　  Accrued interest　　　　　　　　   (75,062)　　 861,114　　　　  -- 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　　　  Taxes payable　　　　　　　　　　   38,991　　  556,121　　(754,817)
　　 Net cash provided by operating　　　　　　　　　　　　　　　　 
　　  activities　　　　　　　　　　　　  25,433,922   20,916,801  10,476,441 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　CASH FLOWS FROM INVESTING　　　　　　　　　　　　　　　　　　　　　　
　　 ACTIVITIES　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　　　Payment on investment in　　　　　　　　　　　　　　　　　　　　 
　　　　 unconsolidated joint ventures　　(1,467,000)　　　　  --　　　　  -- 
　　　　Purchase of property and　　　　　　　　　　　　
　　　　 equipment　　　　　　　　　　　　(1,074,066) (43,225,673)(14,180,053)
　　　　Proceeds from sales of　　　　　　　　　　　　　　　　　　　　   
　　　　 equipment　　　　　　　　　　　　　　41,325　　  194,891　　　　  -- 
　　　　Proceeds from (purchases of)　　　　　　　　　　　　　　　　　　 
　　　　 short term investments　　　　　　　　   --　　  250,821　　(229,106)
　　　　Additions to construction in　　　　　　   
　　　　 progress　　　　　　　　　　　　(28,020,498) (19,012,750)   (519,309)
　　　　Prepayment on long term assets　　(6,139,766)  (5,729,833) (1,914,343)
　　　　Return of acquisition deposit　　   (283,200)　　　　  --　　　　  -- 
　　　　Payment for intangible assets　　   (161,486)　　 (53,826)　　　　 -- 
　　　　Payment for land use rights　　　　 (432,566)　　 (30,354)　　(42,529)
　　  Net cash used in investing　　　　　　  
　　   activities　　　　　　　　　　　　(37,537,257) (67,606,724)(16,885,340)
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　CASH FLOWS FROM FINANCING　　　　　　　　　　　　　　　　　　　　　　
　　 ACTIVITIES:　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　Stock issued for cash　　　　　　 57,607,813　　　　   --  15,000,000 
　　　　Proceeds from senior notes　　　　　　　　--   40,000,000　　　　  -- 
　　　　Payment for offering costs　　　　(3,237,454)  (2,122,509) (1,176,533)
　　  Net cash provided by financing　　　　　　　　　　　　　　　　
　　   activities　　　　　　　　　　　　 54,370,359   37,877,491  13,823,467 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Effect of exchange rate changes on　　　　　　　　　　　　　　　　   
　　 cash and cash equivalents　　　　　　　　56,387　　1,375,086　　 582,948 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　NET (DECREASE) INCREASE IN CASH &amp;　　　　　　　　　　　　　　　　　　
　　 CASH EQUIVALENTS　　　　　　　　　　 42,323,411   (7,437,346)  7,997,516 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　CASH &amp; CASH EQUIVALENTS, BEGINNING　　　　　　　　　　　　　　　　   
　　 OF YEAR　　　　　　　　　　　　　　   5,854,383   13,291,729   5,294,213 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　CASH &amp; CASH EQUIVALENTS, END OF　　　　　　　　　　　　　　　　
　　 YEAR　　　　　　　　　　　　　　　　$48,177,794   $5,854,383 $13,291,729 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　SUPPLEMENTAL DISCLOSURE OF CASH　　　　　　　　　　　　　　　　　　  
　　 FLOW INFORMATION:　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　  Interest paid, net of　　　　　　　　　　　　　　　　　　　　　　   
　　   capitalized interest　　　　　　　　 $503,845　　 $902,777　　　　 $-- 
　　  Income taxes paid　　　　　　　　   $4,178,066   $2,998,627  $2,387,487 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Non-cash transactions for investing　　　　　　　　　　　　　　　　  
　　 and financing activities:　　　　　　　　　　　　　　　　　　　　   
　　  Purchase of equipment through　　　　　　　　　　　　　　　　　　  
　　   accounts payable　　　　　　　　   $1,234,603　　　　  $--　　　　 $-- 
　　  Construction in progress　　　　　　　　　　　　　　　　　　　　   
　　   transferred to property and　　　　　　　　　　　　　　　　　　　　
　　   equipment　　　　　　　　　　　　　　　　 $--　　 $823,464　　　　 $-- 
　　  Prepayment on long-term assets　　　　　　　　　　　　　　　　　　 
　　   transferred to property and　　　　　　　　　　　　　　　　　　　　
　　   equipment　　　　　　　　　　　　　　　　 $--　　 $405,630　　　　 $-- 


　　For more information, please contact:

　　China Natural Gas Inc.
　　 Jacky Shi
　　 IR Director
　　 Tel:   +86-29-8832-3325 x922
　　 Cell:  +86-139-9287-9998
　　 Email: yjshi@naturalgaschina.com

　　Investor Relations:
　　RedChip Companies, Inc.
　　 Jon Cunningham
　　 Tel:   +1-800-733-2447 x107
　　 Email: info@redchip.com
　　 Web:   http://www.RedChip.com


]]></detail>
		<source><![CDATA[SOURCE  China Natural Gas, Inc.]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100200011-1.html</link>
		<title>Chemspec International Limited Announces Fourth Quarter and Full Year 2009 Unaudited Financial Results and Issuance of Dividend</title>
		<author>PR Newswire Asia</author>
		
		<category>Chemical</category>
		
		<category>Finance</category>
		
		<pubDate>Thu, 11 Mar 2010 06:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012749b63ea00061</guid>
		<description><![CDATA[　　SHANGHAI, March 11 /PRNewswire-Asia/ -- Chemspec International Limited (NYSE: CPC; "Chemspec" or the "Company"), a leading China-based contract manufacturer of highly-engineered specialty chemicals, today announced its unaudited financial results(1) for the fourth quarter and full fiscal year ended December 31, 2009, and guidance for the first quarter of 2010. Upon careful review of the Company's financial and operating prospects in 2010, management has decided and the board of directors has approved the issuance of a dividend of $0.003 per ordinary share ($0.18 per ADS(2)) payable on April 21, 2010 to shareholders of record as of March 31, 2010. 

　　Fourth Quarter 2009 Financial Highlights(3) 

　　-- Total sales were RMB 177.1 million (US$25.9 million), a decrease of 
　　   36.4% from the fourth quarter of 2008 and a decrease of 16.2% from the 
　　   third quarter of 2009.
　　-- Gross profit was RMB 63.0 million (US$9.2 million), a decrease of 46.7% 
　　   from the fourth quarter of 2008 and a decrease of 29.5% from the third 
　　   quarter of 2009.
　　-- Income from operations was RMB 28.6 million (US$4.2 million), a 
　　   decrease of 66.6% from the fourth quarter of 2008 and a decrease of 
　　   53.8% from the third quarter of 2009.
　　-- Net income attributable to Chemspec International Limited shareholders 
　　   was RMB 34.8 million (US$5.1 million), a decrease of 50.5% from the 
　　   fourth quarter of 2008 and a decrease of 33.5% from the third quarter 
　　   of 2009. 
　　-- Basic and diluted earnings per ADS(2) were RMB 0.96 (US$0.14), as 
　　   compared to RMB 2.34 in the fourth quarter of 2008 and RMB 1.44 in the 
　　   third quarter of 2009.

　　Full Year 2009 Financial Highlights(3)

　　-- Total sales were RMB 820.3 million (US$120.2 million), a decrease of 
　　   13.0% from the preceding year.
　　-- Gross profit was RMB 324.7 million (US$47.6 million), a decrease of 
　　   17.6% from the prior year.
　　-- Income from operations was RMB 207.5 million (US$30.4 million), a 
　　   decrease of 29.6% from the prior year.
　　-- Net income attributable to Chemspec International Limited shareholders 
　　   was RMB 172.4 million (US$25.3 million), a decrease of 44.8% from the 
　　   prior year. Excluding the non-recurring income tax refund of RMB 58.8 
　　   million received in 2008, the net income attributable to Chemspec 
　　   International Limited shareholders for fiscal year 2009 would have a 
　　   decrease of 32.0% from the prior year. 
　　-- Basic and diluted earnings per ADS were RMB 5.18 (US$0.76), compared to 
　　   RMB 10.41 and RMB 10.40 from the prior year.

　　Year 2009 Business Highlights

　　Over the past year, the Company:

　　-- Faced one of the most challenging years in its 13 year history, mainly 
　　   due to the global financial crisis and economic recession, the 
　　   Company's sales were largely impacted in the first quarter of 2009 by 
　　   sharply reduced demand in the electronics chemical market and in the 
　　   third and fourth quarter of 2009 by the unfavorable demand change in 
　　   the global agrochemical market. The Company's chemical products for the 
　　   pharmaceutical market remained stable with some healthy growth. 
　　-- Successfully listed on the NYSE, raising RMB 389.0 million that helps 
　　   the Company establish a strong corporate image for new business 
　　   development and a capital market platform for future growth.
　　-- Recruited highly experienced industry experts across all business 
　　   segments in order to build a stronger management team. 
　　-- Spent a record RMB 343 million in capital expenditures during the year 
　　   to expand the Company's R&amp;D and production facilities and reduce 
　　   bottlenecks that have impeded growth, at times, in the past. Total 
　　   reactor volume increased from 1.1 million liters at the end of 2008 to 
　　   2.0 million liters at the end of 2009. Additional reactors will be 
　　   installed after the completion of the current phase of expansion in the 
　　   first half of 2010. 
　　-- Increased total headcount from 1,171 employees at the end of 2008 to 
　　   1,585 at the end of 2009. 
　　-- Diversified the Company's customer base and built a solid foundation 
　　   that will allow the Company to diversify its product mix from 
　　   traditional chemical intermediates manufacturing into downstream Active 
　　   Pharmaceutical Ingredients (APIs) for the pharmaceutical industry and 
　　   Active Ingredients (AIs) for the agrochemical industry. 
　　-- Received technology grants from the central and local governments for 
　　   four out of the six manufacturing subsidiaries of the Company. Grants 
　　   totaled RMB 10.0 million in the year 2009 -- a strong recognition of 
　　   the Company's leading position in different technologies in many 
　　   industrial fields in which the Company is actively involved.
　　-- Increased the number of approved patents from 6 at the end of 2008 to 
　　   11 by the end of 2009. The Company currently has 28 approved and 
　　   pending approval patents.   

　　First Quarter 2010 Guidance

　　-- Sales are expected to reach between RMB 205 million to 210 million in 
　　   the first quarter of 2010, which would represent an increase of between 
　　   2.3% and 4.8% from the first quarter of 2009 and an increase of between 
　　   15.8% and 18.6% from the fourth quarter of 2009. The increase is 
　　   primarily expected to be driven by a strong recovery in demand in 
　　   various end markets that incorporate the Company's products.
　　-- Gross profit margin is expected to be at the Company's normal 
　　   operational level of above 40%.

　　Declaration of Dividend

　　-- The Company plans to maintain an annual dividend policy, as we 
　　   discussed in the IPO prospectus, of distributing a portion of our 
　　   annual net income to shareholders. The Company's board of directors has 
　　   declared the issuance of its 2009 dividend of $0.003 per ordinary share 
　　   ($0.18 per ADS), payable on April 21, 2010 to shareholders of record as 
　　   of March 31, 2010. However, the declaration, amount and payment of 
　　   future dividends to holders of common stock will be at the discretion 
　　   of the board of directors and will depend upon many factors, including, 
　　   capital requirements, cash flow trends, financial condition, earnings, 
　　   alternate investment opportunities, legal requirements, regulatory 
　　   constraints, industry practice and other factors that the board of 
　　   directors deems relevant. 

　　Completion of Share Repurchase Program

　　-- The Company has substantially completed its share repurchase plan 
　　   announced on September 29, 2009. The total funds used in the share 
　　   repurchase plan were US$1.2 million. 


　　(1)  Certain Renminbi (RMB) amounts in this press release have been 
　　　　 translated into U.S. dollar (US$) solely for the convenience of the 
　　　　 reader. The conversion of RMB into US$ in this release is based on 
　　　　 the Federal Reserve Board certified exchange rate on December 31st, 
　　　　 2009, which was RMB 6.8259 to US$1.00. The percentages stated are 
　　　　 calculated based on RMB.
　　(2)  1 ADS=60 ordinary shares
　　(3)  2008 financial data have been adjusted. Please refer to detail 
　　　　 disclosure in section below "Adjustment to Financial Statements to 
　　　　 Reflect Acquisition of Jiangsu Kangpeng Nong Hua Limited"


　　Dr. Jianhua Yang, Chairman and CEO of Chemspec, commented, "2009 was clearly a difficult year for the global economy. A strong retreat in consumer demand affected the electronics markets that we supply, and unfavorable weather patterns had an impact on most agrochemical end markets. While 2009 presented a number of obstacles that we needed to overcome, it also presented an opportunity for us to prepare for future challenges.  

　　"We remain the leader in terms of chemical process research and development in China and are highly competitive compared to our global peers. We also continue to deepen our relationships with a growing number of customers around the world. 

　　"We devoted considerable time and effort over the past year on improving our internal operations in order to set a more solid foundation for future development. Although we just emerged from an extremely challenging year, we believe we have completed a series of projects and initiated others, as discussed above, which will strengthen our internal operations and will allow us to more effectively deal with challenges that we will face in the future." 

　　Mr. Bing Zhu, Chief Financial Officer of Chemspec, commented, "Given the tough environment in 2009, we took a conservative look at our inventory at year-end and decided to take a provision of RMB 14.7 million to write down the value of some of our obsolete inventories. This is a specific year-end non-cash charge, and we believe it reflects the realities of our current business. However, our financial position remains strong, and excluding the write down, our gross margins in the fourth quarter of 2009 would have stayed roughly in line with prior periods."

　　"In terms of financial performance, we believe we began to experience a positive turn-around in early 2010 as we started to see a recovery in demand in various end markets that incorporate our products. Our guidance for first quarter 2010 sales would represent a record for that period. Although there are still some visibility issues in terms of demand in the coming quarters for some of our products, we have a high degree of confidence that we can achieve quarter-over-quarter sales growth in the next few quarters based on our usual seasonal quarterly-sales fluctuations, our understanding of global market trends in 2010 as well as feedback from our long-term and new customers." 

　　"We decided to issue our first annual dividend for fiscal year 2009 after we completed the share repurchase program that was announced in September 2009 with only US$1.2 million in funds used. Although 2009 was a difficult year in terms of financial performance, we were still able to generate a strong stream of cash from our operations. This dividend shows the management's confidence in our financial position and operational cash generating capabilities in the years to come. We plan to maintain a dividend policy, as we discussed in the IPO prospectus, of distributing a portion of our annual net income when the management and board feel it is the best use of cash. We believe it is important to allow our shareholders to participate in our results in a direct and tangible way in future years."

　　Fourth Quarter 2009 Financial Results

　　Total Sales

　　For the three months ended December 31, 2009, the Company generated total sales of RMB 177.1 million (US$25.9 million), a decrease of 36.4% from the fourth quarter of 2008 and a decrease of 16.2% from the third quarter of 2009. The decrease in the fourth quarter of 2009 mainly reflects weak sales of agrochemical products.

　　Gross Profit and Gross Margin

　　Gross profit was RMB 63.0 million (US$9.2 million), a decrease of 46.7% from the fourth quarter of 2008 and a decrease of 29.5% from the third quarter of 2009. Gross margin was 35.6% in the fourth quarter of 2009. Due to the extremely difficult market situation in 2009, the Company took a conservative look at our inventory at year-end and decided to take a provision of RMB 14.7 million to write down the value of some of our obsolete inventories. Excluding the write-down, gross profit margin would have been 43.9% for the fourth quarter of 2009, which is roughly in line with 42.5% in the fourth quarter of 2008 and 42.3% in the third quarter of 2009. 

　　Operating Expenses

　　Selling expenses and general and administrative expenses were RMB 23.6 million (US$3.5 million) during the fourth quarter of 2009, representing an increase of 11.1% from RMB 21.3 million in the fourth quarter of 2008 and an increase of 21.4% from RMB 19.4 million in the third quarter of 2009. The increase compared to the fourth quarter of 2008 was mainly due to higher professional and other expenses related to being a publicly traded company along with depreciation expenses that started following the Company's move into a new headquarters. The increase compared to the third quarter of 2009 was mainly due to staff salaries and professional expenses. 

　　Research and development (R&amp;D) expenses decreased by 22.9% to RMB 8.0 million (US$1.2 million) during the fourth quarter of 2009 from RMB 10.4 million in the fourth quarter of 2008 and increased by 13.3% from RMB 7.1 million in the third quarter of 2009. The decrease compared with the same period in 2008 was primarily due to a decrease in material consumption. Compared to the third quarter of 2009, the increase was mainly due to higher staff salaries.

　　Income from operations and earnings before income taxes

　　As a result of the factors mentioned above, income from operations was RMB 28.6 million (US$4.2 million) and earnings before income taxes were RMB 29.0 million (US$4.3 million) in the fourth quarter of 2009, decreases of 66.6% and 65.5%, respectively, from the fourth quarter of 2008, and decreases of 53.8% and 53.6%, respectively, from the third quarter of 2009.  

　　Net income attributable to Chemspec International Limited shareholders 

　　Net income attributable to Chemspec International Limited shareholders was RMB 34.8 million (US$5.1 million) in the fourth quarter of 2009, a decrease of 50.5% from the fourth quarter of 2008 and a decrease of 33.5% from the third quarter of 2009. The decrease in net income attributable to Chemspec International Limited shareholders was mainly caused by the decrease in sales and the one-time year-end inventory write-down. 

　　Basic and diluted earnings per ADS were RMB 0.96 (US$0.14), as compared to RMB 2.34 in the fourth quarter of 2008 and RMB 1.44 in the third quarter of 2009.

　　Full Year 2009 Financial Results

　　Total Sales

　　For the twelve months ended December 31, 2009, the Company generated total sales of RMB 820.3 million (US$120.2 million), a decrease of 13.0% from 2008. The decrease was mainly due to weak demand in the Company's end markets, primarily as a result of the global financial crisis.

　　Gross Profit and Gross Margin

　　Gross profit was RMB 324.7 million (US$47.6 million), a decrease of 17.6% from 2008, due primarily to reduced sales in electronic chemicals in the first quarter of 2009 and reduced sales in agrochemicals in the third and fourth quarter of 2009.

　　Operating Expenses

　　Total operating expenses were RMB 119 million (US$17.4 million), which compares to RMB 100.5 million (US$14.7 million) in 2008. The increase was primarily due to higher personnel salaries for experienced senior level employees, higher depreciation since we moved into new headquarters and R&amp;D buildings, and other consulting and audit fees associated with being a publicly-listed company.

　　Income from operations and earnings before income taxes

　　Income from operations totaled RMB 207.5 million (US$30.4 million), compared to RMB 294.5 (US$43.1 million) in 2008. 

　　Net income attributable to Chemspec International Limited shareholders 

　　Net income attributable to Chemspec International Limited shareholders for fiscal year 2009 was RMB 172.4 million (US$25.3 million), a decrease of 44.8% from RMB 312.4 million (US$45.8 million) in 2008. Excluding the non-recurring income tax refund of RMB 58.8 million received in 2008, the net income attributable to Chemspec International Limited shareholders for fiscal year 2009 would have a decrease of 32.0% from the prior year mainly due to the lower total sales, lower annual average gross profit margin as well as higher effective income tax rate. 

　　Basic and diluted earnings per ADS for fiscal year 2009 were RMB 5.18 (US$0.76) and RMB 5.18 (US$0.76), compared to RMB 10.41 and RMB 10.40 in 2008.

　　Balance Sheet

　　As of December 31, 2009, the Company had RMB 351.1 million (US$51.4 million) in cash, as compared to RMB 180.6 million as of December 31, 2008. The increase in the Company's cash was primarily due to the proceeds of approximately RMB 389.0 million (US$57.0 million) from the Company's IPO in June 2009. 

　　The Company's year-end 2009 inventory level increased to RMB 271.4 million (US$39.8 million) from RMB 218.3 million as of December 31, 2008. The increase reflects a change in the Company's product mix as a strong recovery in demand started in early 2010 for the Company's specialty chemical products used in the electronics field. As Chemspec's products in this field are technically highly complex and involve a long in-house production cycle, management expects the average inventory level to be approximately RMB 300 million in year 2010.

　　As the Company acquired the remaining non-controlling shares of Jiangsu Wei Er Chemicals Co., Ltd. and 100% of the shares of Jiangsu Kangpeng Nong Hua Limited (elaborated in section below) as well as repurchased a certain number of shares from the open market in the fourth quarter of 2009, the total equity of the Company reduced to RMB 1,192.3 million at the end of the fourth quarter of 2009 from RMB 1,228.5 million at the end of the third quarter of 2009, after netting off the net income from the fourth quarter of 2009.

　　Adjustment to Financial Statements to Reflect Acquisition of Jiangsu Kangpeng Nong Hua Limited

　　Chemspec acquired 100% equity interest of Jiangsu Kangpeng Nong Hua Limited, or Kangpeng Nong Hua, in November 2009 for RMB 25 million in cash. Since the Company's Chairman and CEO, Dr. Yang, owned more than 50% of the voting rights of both the Company and Kangpeng Nong Hua as of the date of the acquisition, the acquisition was considered a combination between entities under common control in accordance with ASC Topic 805. Therefore, the Company's consolidated financial statements have been retrospectively adjusted to reflect the combined entities for the periods during which the entities were under common control. 

　　Accordingly, the Company's balance sheet as of December 31, 2008 and the related consolidated statements of income, shareholders' equity, comprehensive income, and cash flows for the year ended December 31, 2008 have been retrospectively adjusted to reflect the combined entities for the periods during which the entities were under common control. The effects of the change to the Company's financial statements are as follows: 



　　RMB'000　　　　 December 31, 2008　　　　　　　　  December 31, 2009　　　　 
　　　　　　　　　　　　　　　　　　　　　　 As computed  As reported　　 
　　　　　　　　 As　　　　As　　　　　　　　 excluding　　including   
　　　　　　 Originally Adjusted  Effect of   Kangpeng　　 Kangpeng  Effect of
　　　　　　  Reported　　　　　　 Change　　 Nong Hua　　 Nong Hua　　Change 
　　Total
　　 assets  1,014,880 1,063,457   48,577　　 1,551,565   1,575,283　　23,718 
　　Total
　　 equity　　729,171   745,213   16,042　　 1,207,143   1,192,260   (14,883)
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　   Year ended December 31, 2008　　   Year ended December 31, 2009   
　　　　　　　　　　　　　　　　　　　　　　 As computed  As reported　　 
　　　　　　　　 As　　　　As　　　　　　　　 excluding　　including  
　　　　　　 Originally Adjusted  Effect of   Kangpeng　　 Kangpeng  Effect of
　　　　　　  Reported　　　　　　 Change　　 Nong Hua　　 Nong Hua　　Change 
　　Net　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 income　　317,905   316,668   (1,237)　　  183,078　　 177,152　　(5,926)
　　Total　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 compre-
　　 hensive　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 income　　320,342   319,105   (1,237)　　  183,133　　 177,207　　(5,926)
　　Revenue　　944,854   942,487   (2,367)　　  821,081　　 820,295　　  (786)
　　Earnings　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 per
　　 share　　 RMB0.17   RMB0.17  RMB0.00　　   RMB0.09　　 RMB0.09   RMB0.00 


　　Conference Call Details

　　The company will host a conference call and live webcast to discuss its fourth quarter results and forward outlook at 8:00am Eastern Time (9:00 pm Beijing time) on Thursday, March 11, 2010. 

　　 - U.S. Toll Free Number:　　　　　　 1-866-519-4004
　　 - International Dial-in Number:　　  +1-718-254-1231
　　 - Mainland China Toll Free Number:   800-819-0121 (land line)
　　　　　　　　　　　　　　　　　　　　  400-620-8038 (Mobile)
　　 - Hong Kong Toll Free Number:　　　　852-2475-0994
　　 - Conference ID:　　　　　　　　　　 CPC


　　A live and archived webcast of the conference call will be available on the Investor Relations section of Chemspec's website at http://www.chemspec.com.cn .

　　A telephone replay of the call will be available after the conclusion of the conference call through midnight, March 18, 2010, Eastern Time. 

　　The dial-in details for the replay are as follows:

　　 - U.S. Toll Free Number　　　　　　  +1-866-214-5335
　　 - International Dial-in Number　　   +61-2-8235-5000
　　 Conference ID:　　　　　　　　　　   60804122



　　　　　　　　　　　　  Chemspec International Limited　　　　　　　　　　  
　　　　　　　　　　  Unaudited Consolidated Balance Sheets　　　　　　　　   
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　December 31,   December 31,   December 31,
　　　　　　　　　　　　　　　　　　　　2008　　　　   2009　　　　   2009 
　　　　　　　　　　　　　　　　　　  RMB'000　　　　RMB'000　　　　USD'000 
　　　　　　　　　　　　　　　　   (as adjusted)　　　　　　　　　　　　　　
　　ASSETS　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　Current assets　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　Cash　　　　　　　　　　　　　　  180,602　　　　 351,097　　　　51,436 
　　Pledged bank deposits　　　　　　  21,536　　　　  37,919　　　　 5,555 
　　Accounts receivable, net　　　　  136,664　　　　  94,154　　　　13,794 
　　Bills receivable　　　　　　　　　　   --　　　　   1,327　　　　   194 
　　Inventories　　　　　　　　　　   218,263　　　　 271,434　　　　39,765 
　　Prepayment and other　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 receivables　　　　　　　　　　   24,597　　　　  38,738　　　　 5,675 
　　Amounts due from　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 related parties　　　　　　　　　　2,500　　　　　　  64　　　　　　 9 
　　Deferred income　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 tax assets　　　　　　　　　　　　   344　　　　   3,424　　　　   502 
　　Total current assets　　　　　　  584,506　　　　 798,157　　   116,930 
　　Investment in an affiliate　　　　　　 --　　　　  13,296　　　　 1,948 
　　Property, plant and
　　 equipment, net　　　　　　　　   405,180　　　　 699,181　　   102,431 
　　Land use rights　　　　　　　　　　55,175　　　　  56,064　　　　 8,213 
　　Intangible assets　　　　　　　　　　 947　　　　　　 839　　　　   123 
　　Goodwill　　　　　　　　　　　　　　7,446　　　　   7,446　　　　 1,091 
　　Deferred offering costs　　　　　　 9,843　　　　　　  --　　　　　　-- 
　　Deferred income tax assets　　　　　　360　　　　　　 300　　　　　　44 
　　Total assets　　　　　　　　　　1,063,457　　   1,575,283　　   230,780 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　LIABILITIES AND EQUITY　　　　　　　　　　　　　　　　　　　　　　　　  
　　Current liabilities 
　　Bank borrowings　　　　　　　　　　65,000　　　　　　  --　　　　　　-- 
　　Accounts payable　　　　　　　　   81,382　　　　  81,870　　　　11,994 
　　Bills payable　　　　　　　　　　  27,562　　　　  49,738　　　　 7,287 
　　Amounts due to　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 related parties　　　　　　　　   51,246　　　　  23,659　　　　 3,466 
　　Accrued expenses and other　　　　　　　　　　　　　　　　　　　　　　  
　　 payables　　　　　　　　　　　　  65,413　　　　 183,266　　　　26,849 
　　Income taxes payable　　　　　　　　6,395　　　　   1,298　　　　   190 
　　Total current liabilities　　　　 296,998　　　　 339,831　　　　49,786 
　　Bank borrowings　　　　　　　　　　　　--　　　　  10,000　　　　 1,465 
　　Deferred income　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 tax liabilities　　　　　　　　   15,680　　　　  18,056　　　　 2,645 
　　Deferred income　　　　　　　　　　 5,566　　　　  15,136　　　　 2,217 
　　Total liabilities　　　　　　　　 318,244　　　　 383,023　　　　56,113 

　　Equity　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　Ordinary shares: HK$ 0.01
　　 par value; 20,000,000,000　　　　　　　　　　　　　　　　　　　　　　  
　　 shares authorized as of　　　　　　　　　　　　　　　　　　　　　　　　
　　 December 31, 2008 and　　　　　　　　　　　　　　　　　　　　　　　　  
　　 December 31, 2009;　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 1,800,000,000 and　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 2,167,620,000 shares
　　 issued and outstanding as　　　　　　　　　　　　　　　　　　　　　　  
　　 of December 31, 2008 and　　　　　　　　　　　　　　　　　　　　　　   
　　 December 31, 2009,　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 respectively　　　　　　　　　　  18,446　　　　  21,686　　　　 3,177 
　　Additional paid-in capital　　　　 39,213　　　　 326,948　　　　47,898 
　　Statutory reserves　　　　　　　　 45,837　　　　  63,422　　　　 9,291 
　　Accumulated other　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 comprehensive income　　　　　　   6,749　　　　   6,803　　　　   997 
　　Retained earnings　　　　　　　　 619,888　　　　 767,393　　   112,424 
　　Total Chemspec 
　　 International Limited　　　　　　　　　　　　　　　　　　　　　　　　  
　　 shareholders' equity　　　　　　 730,133　　   1,186,252　　   173,787 
　　Non-controlling interests　　　　  15,080　　　　   6,008　　　　   880 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Total equity　　　　　　　　　　  745,213　　   1,192,260　　   174,667 
　　Total liabilities　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 and equity　　　　　　　　　　 1,063,457　　   1,575,283　　   230,780 



　　　　　　　　　　　　 Chemspec International Limited　　　　　　　　　　  
　　　　　　  Unaudited Quarterly Consolidated Statements of Income　　　　  
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　   Three-month periods ended　　　　　　　　 
　　　　　　　　　　　　  Dec 31,　　　　Sept 30,　　　　Dec 31,　　  Dec 31,  
　　　　　　　　　　　　   2008　　　　　　2009　　　　   2009　　　　 2009 
　　　　　　　　　　　　 RMB'000　　　　 RMB'000　　　　RMB'000　　  USD'000   
　　　　　　　　　　  (as adjusted)   (as adjusted)　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Sales　　　　　　　　278,394　　　　 211,305　　　　177,050　　   25,938 
　　Cost of sales　　   (160,036)　　   (121,848)　　  (114,022)　　 (16,704)
　　Gross profit　　　　 118,358　　　　  89,457　　　　 63,028　　　　9,234 
　　Selling expenses　　  (2,658)　　　　 (2,405)　　　　(2,817)　　　　(413)
　　General and　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 administrative
　　 expenses　　　　　　(18,597)　　　　(17,044)　　   (20,792)　　  (3,046)
　　Research and　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 development　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 expenses　　　　　　(10,387)　　　　 (7,074)　　　　(8,012)　　  (1,174)
　　Other operating 
　　 expenses　　　　　　 (1,575)　　　　 (1,297)　　　　(3,380)　　　　(495)
　　Other operating　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 income　　　　　　　　  620　　　　　　 311　　　　　　236　　　　   35 
　　Government grants　　　　 --　　　　　　  11　　　　　　362　　　　   53 
　　Income from　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 operations　　　　   85,761　　　　  61,959　　　　 28,625　　　　4,194 
　　Other income　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 (expenses):　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Equity in loss　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 of an affiliate　　　　  --　　　　　　 (85)　　　　   (91)　　　　 (13)
　　Interest income　　　　  991　　　　　　 467　　　　　　482　　　　   70 
　　Interest expense　　  (1,007)　　　　   (418)　　　　  (309)　　　　 (45)
　　Foreign currency　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 exchange (loss)
　　 gain, net　　　　　　(1,657)　　　　　　220　　　　　　230　　　　   34 
　　Other income　　　　　　  67　　　　　　 376　　　　　　 91　　　　   13 
　　Earnings before
　　 income taxes　　　　 84,155　　　　  62,519　　　　 29,028　　　　4,253 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Income tax　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 (expense)　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 benefit　　　　　　 (11,565)　　　　(11,427)　　　　 6,169　　　　  903 
　　Net income　　　　　　72,590　　　　  51,092　　　　 35,197　　　　5,156 
　　Net (income) loss　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 attributable to 
　　 non-controlling　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 interests　　　　　　(2,345)　　　　  1,200　　　　   (433)　　　　 (63)
　　Net income　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 attributable　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 to Chemspec　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 International　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 Limited　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 shareholders　　　　 70,245　　　　  52,292　　　　 34,764　　　　5,093 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Basic earnings　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 per share　　　　  RMB 0.04　　　　RMB 0.02　　   RMB 0.02　　 USD 0.00 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Diluted earnings
　　 per share　　　　  RMB 0.04　　　　RMB 0.02　　   RMB 0.02　　 USD 0.00 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Basic earnings　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 per ADS　　　　　　RMB 2.34　　　　RMB 1.44　　   RMB 0.96　　 USD 0.14 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Diluted earnings
　　 per ADS　　　　　　RMB 2.34　　　　RMB 1.44　　   RMB 0.96　　 USD 0.14 



　　　　　　　　　　　　 Chemspec International Limited　　　　　　　　　　  
　　　　　　   Unaudited Annual Consolidated Statements of Income　　　　　　
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　Years ended　　　　　　　　　　　　
　　　　　　　　　　　　　　December 31,　　　　December 31,　　   December 31,   
　　　　　　　　　　　　　　　　2008　　　　　　　　2009　　　　　　   2009 
　　　　　　　　　　　　　　  RMB'000　　　　　　 RMB'000　　　　　　USD'000　　 
　　　　　　　　　　　　   (as adjusted)　　　　　　　　　　　　　　　　　　  
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Sales　　　　　　　　　　 942,487　　　　　　 820,295　　　　　　120,173 
　　Cost of sales　　　　　　(548,543)　　　　   (495,584)　　　　   (72,603)
　　Gross profit　　　　　　  393,944　　　　　　 324,711　　　　　　 47,570 
　　Selling expenses　　　　  (11,898)　　　　　　(11,245)　　　　　　(1,647)
　　General and　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 administrative
　　 expenses　　　　　　　　 (58,947)　　　　　　(69,871)　　　　   (10,236)
　　Research and　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 development　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 expenses　　　　　　　　 (27,483)　　　　　　(30,913)　　　　　　(4,529)
　　Other operating　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 expenses　　　　　　　　  (2,188)　　　　　　 (7,145)　　　　　　(1,047)
　　Other operating　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 income　　　　　　　　　　 1,012　　　　　　　　 953　　　　　　　　140 
　　Government grants　　　　　　  50　　　　　　　　 971　　　　　　　　142 
　　Income from　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 operations　　　　　　   294,490　　　　　　 207,461　　　　　　 30,393 
　　Other income　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 (expenses):　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Equity in loss　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 of an affiliate　　　　　　   --　　　　　　　　(176)　　　　　　   (26)
　　Interest income　　　　　　 2,116　　　　　　   2,296　　　　　　　　336 
　　Interest expense　　　　   (2,746)　　　　　　 (2,149)　　　　　　  (315)
　　Foreign currency　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 exchange loss, net　　　　(9,514)　　　　　　 (1,961)　　　　　　  (286)
　　Other income　　　　　　　　   82　　　　　　　　 519　　　　　　　　 76 
　　Earnings before
　　 income taxes　　　　　　 284,428　　　　　　 205,990　　　　　　 30,178 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Income tax　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 benefit　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 (expense)　　　　　　　　 32,240　　　　　　 (28,838)　　　　　　(4,225)
　　Net income　　　　　　　　316,668　　　　　　 177,152　　　　　　 25,953 
　　Net income　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 attributable to　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 non-controlling　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 interests　　　　　　　　 (4,307)　　　　　　 (4,721)　　　　　　  (692)
　　Net income　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 attributable　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 to Chemspec　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 International　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 Limited　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 shareholders　　　　　　 312,361　　　　　　 172,431　　　　　　 25,261 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Basic earnings　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 per share　　　　　　   RMB 0.17　　　　　　RMB 0.09　　　　   USD 0.01 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Diluted earnings
　　 per share　　　　　　   RMB 0.17　　　　　　RMB 0.09　　　　   USD 0.01 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Basic earnings　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 per ADS　　　　　　　　RMB 10.41　　　　　　RMB 5.18　　　　   USD 0.76 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Diluted earnings
　　 per ADS　　　　　　　　RMB 10.40　　　　　　RMB 5.18　　　　   USD 0.76 



　　　　　　　　　　　　  Chemspec International Limited　　　　　　　　　　  
　　　　　　　　 Unaudited Consolidated Statements of Cash Flows　　　　　　  
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　Dec 31,　　 Dec 31,   Dec 31,　　
　　　　　　　　　　　　　　　　　　　　　　　　 2008　　　　2009　　  2009 
　　　　　　　　　　　　　　　　　　　　　　   RMB'000　　 RMB'000  USD '000　　
　　　　　　　　　　　　　　　　　　　　　　(as adjusted)　　　　　　　　　　 
　　Cash flows from　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 operating activities　　　　　　　　　　　　　　　　　　　　　　　　
　　Net income　　　　　　　　　　　　　　　　 316,668　　 177,152　　25,953 
　　Adjustments to reconcile net income
　　 to net cash provided by operating　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 activities:　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Depreciation and amortization of　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 property, plant and equipment　　　　　　  24,700　　  37,204　　 5,450 
　　Land use rights　　　　　　　　　　　　　　　　998　　   1,132　　   166 
　　Amortization of intangible assets　　　　　　   27　　　　 108　　　　16 
　　Loss on disposal of property, plant
　　 and equipment　　　　　　　　　　　　　　   1,424　　   6,505　　   953 
　　Equity in loss of an affiliate　　　　　　　　  --　　　　 176　　　　26 
　　Bad debt expense　　　　　　　　　　　　　　  (241)　　　　 64　　　　 9 
　　Write-down of inventories　　　　　　　　　　1,090　　  14,696　　 2,153 
　　Unrealized foreign exchange loss, net　　　　1,573　　　　  93　　　　14 
　　Gain on transfer of land use right to
　　 an affiliate　　　　　　　　　　　　　　　　   --　　　　(290)　　  (42)
　　Share-based compensation　　　　　　　　　　17,917　　  15,443　　 2,262 
　　Deferred income tax　　　　　　　　　　　　　　　　　　　　　　　　  
　　 expense (benefit)　　　　　　　　　　　　  16,024　　　　(644)　　  (94)
　　Changes in operating assets and　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 liabilities net of effects of　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 divestiture of a subsidiary and　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 acquisitions of equity interest
　　 in subsidiaries:　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　  Pledged bank deposits related　　　　　　　　　　　　　　　　　　　　　　　　   
　　   to purchase of inventory　　　　　　　　(17,587)　　　　994　　   146 
　　  Inventories　　　　　　　　　　　　　　  (80,490)　　(67,867)   (9,942)
　　  Accounts receivable　　　　　　　　　　  (48,158)　　 42,354　　 6,205 
　　  Bills receivable　　　　　　　　　　　　　　  --　　  (1,327)　　 (194)
　　  Prepayment and other receivables　　　　  13,658　　 (14,141)   (2,072)
　　  Accounts payable　　　　　　　　　　　　  12,691　　　　 488　　　　71 
　　  Bills payable related to　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　   purchase of inventory　　　　　　　　　　14,084　　  (5,158)　　 (756)
　　  Accrued expenses and other payables　　   15,730　　  13,424　　 1,967 
　　  Income taxes payable　　　　　　　　　　  (1,729)　　 (5,097)　　 (747)
　　Net cash provided by　　　　　　　　　　　　　　　　　　　　　　　　 
　　 operating activities　　　　　　　　　　  288,379　　 215,309　　31,544 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Cash flows from investing activities　　　　　　　　　　　　　　　　　　　　　　　　
　　Capital expenditures, including
　　 interest capitalized　　　　　　　　　　 (127,846)   (231,727)  (33,949)
　　Proceeds from the sale　　　　　　　　　　　　　　　　　　　　　　   
　　 of a subsidiary　　　　　　　　　　　　　　 3,420　　　　  --　　　　-- 
　　Proceeds from sale of property,
　　 plant and equipment　　　　　　　　　　　　   200　　　　  --　　　　-- 
　　Investment in an affiliate　　　　　　　　　　  --　　 (11,225)   (1,644)
　　Non-interest bearing advances to
　　 related parties　　　　　　　　　　　　   (30,900)　　　　 --　　　　-- 
　　Non-interest bearing advances
　　 repaid by related parties　　　　　　　　  48,480　　   2,436　　   357 
　　Net cash assumed from　　　　　　　　　　　　　　　　　　　　　　　　
　　 acquisition of subsidiaries　　　　　　　　11,988　　　　  --　　　　-- 
　　Payments for land use rights　　　　　　   (17,517)　　　　 --　　　　-- 
　　Pledged bank deposit related to
　　 purchase of property, plant　　　　　　　　　　　　　　　　　　　　　　　　   
　　 and equipment　　　　　　　　　　　　　　　　  --　　 (17,377)   (2,546)
　　Net cash used in investing activities　　 (112,175)   (257,893)  (37,782)
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Cash flows from financing activities　　　　　　　　　　　　　　　　　　　　　　　　
　　Acquisition of additional equity　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 interest in subsidiaries　　　　　　　　   (8,000)　　(17,500)   (2,564)
　　Capital contributions to a subsidiary
　　 by a non-controlling interest　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 shareholder　　　　　　　　　　　　　　　　　　--　　   1,600　　   234 
　　Proceeds from issuance　　　　　　　　　　　　　　　　　　　　　　   
　　 of ordinary shares　　　　　　　　　　　　　　 --　　 389,022　　56,992 
　　Payments for initial　　　　　　　　　　　　　　　　　　　　　　　　 
　　 public offering costs　　　　　　　　　　  (9,843)　　(52,775)   (7,732)
　　Proceeds from bank loans　　　　　　　　　　70,000　　  25,000　　 3,663 
　　Repayments of bank loans　　　　　　　　   (50,000)　　(80,000)  (11,720)
　　Repurchase of ordinary shares　　　　　　　　   --　　  (8,134)   (1,192)
　　Dividend paid by a subsidiary to　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 non-controlling interest shareholders　　　　  --　　  (2,500)　　 (366)
　　Proceeds from non-interest bearing　　　　　　　　　　　　　　　　　　　　　　　　 
　　 borrowings from related parties　　　　　　20,400　　　　  --　　　　-- 
　　Repayments of non-interest bearing　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 borrowings from related parties　　　　   (75,380)　　(41,687)   (6,107)
　　Net cash (used in) provided by
　　 financing activities　　　　　　　　　　  (52,823)　　213,026　　31,208 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Effect of foreign　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 currency exchange　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 rate changes on cash　　　　　　　　　　　　  292　　　　  53　　　　 8 
　　Net increase in cash　　　　　　　　　　   123,673　　 170,495　　24,978 
　　Cash at beginning of　　　　　　　　　　　　　　　　　　　　　　　　 
　　 period　　　　　　　　　　　　　　　　　　 56,929　　 180,602　　26,458 
　　Cash at end of period　　　　　　　　　　  180,602　　 351,097　　51,436 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Supplemental disclosures of cash　　　　　　　　　　　　　　　　　　　　　　　　  
　　 flow information:　　　　　　　　　　　　　　　　　　　　　　　　   
　　Income taxes paid　　　　　　　　　　　　   12,725　　  34,579　　 5,066 
　　Income taxes refund　　　　　　　　　　　　 58,767　　　　  --　　　　-- 
　　Interest paid, net of　　　　　　　　　　　　　　　　　　　　　　　　
　　 amounts capitalized　　　　　　　　　　　　 2,746　　   2,149　　   315 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Supplemental schedule of noncash
　　 investing and financing　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 activities:　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　Payable for purchase of property,
　　 plant and equipment　　　　　　　　　　　　35,547　　 118,174　　17,313 
　　Payable for acquisitions of　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 non-controlling interests in　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 subsidiaries　　　　　　　　　　　　　　　　   --　　  48,500　　 7,105 
　　Bills payable for purchase of
　　 property, plant and equipment　　　　　　　　 771　　  28,105　　 4,117 
　　Land use right contributed to an　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 affiliate　　　　　　　　　　　　　　　　　　  --　　   1,957　　   287 


　　About Chemspec 

　　Chemspec is a leading China-based contract manufacturer of highly engineered specialty chemicals and the largest manufacturer of fluorinated specialty chemicals in China based on sales. In manufacturing specialty chemicals, Chemspec also provides process design and process development services, which enable efficient and rapid production of specialty chemicals that are incorporated into the products of Chemspec's end users. Chemspec's customers and end users include electronics, pharmaceutical and agrochemical companies. For more information, please visit http://www.chemspec.com.cn .

　　Safe Harbor Statements

　　This announcement contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Chemspec's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1, as amended from time to time. Chemspec does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

　　For further information, please contact:

　　Chemspec International Ltd.
　　 In Shanghai
　　 Bing Zhu
　　 Chief Financial Officer
　　 Phone: +86-21-6363-8108
　　 Email: ir@chemspec.com.cn
　　
　　Christensen
　　 In New York
　　 Kathy Li
　　 Phone: +1-212-618-1978
　　 Email: kli@christensenir.com

　　 In Hong Kong
　　 Tip Fleming
　　 Phone: +852-9212-0684
　　 Email: tfleming@christensenir.com]]></description>
		<detail><![CDATA[　　SHANGHAI, March 11 /PRNewswire-Asia/ -- Chemspec International Limited (NYSE: CPC; "Chemspec" or the "Company"), a leading China-based contract manufacturer of highly-engineered specialty chemicals, today announced its unaudited financial results(1) for the fourth quarter and full fiscal year ended December 31, 2009, and guidance for the first quarter of 2010. Upon careful review of the Company's financial and operating prospects in 2010, management has decided and the board of directors has approved the issuance of a dividend of $0.003 per ordinary share ($0.18 per ADS(2)) payable on April 21, 2010 to shareholders of record as of March 31, 2010. 

　　Fourth Quarter 2009 Financial Highlights(3) 

　　-- Total sales were RMB 177.1 million (US$25.9 million), a decrease of 
　　   36.4% from the fourth quarter of 2008 and a decrease of 16.2% from the 
　　   third quarter of 2009.
　　-- Gross profit was RMB 63.0 million (US$9.2 million), a decrease of 46.7% 
　　   from the fourth quarter of 2008 and a decrease of 29.5% from the third 
　　   quarter of 2009.
　　-- Income from operations was RMB 28.6 million (US$4.2 million), a 
　　   decrease of 66.6% from the fourth quarter of 2008 and a decrease of 
　　   53.8% from the third quarter of 2009.
　　-- Net income attributable to Chemspec International Limited shareholders 
　　   was RMB 34.8 million (US$5.1 million), a decrease of 50.5% from the 
　　   fourth quarter of 2008 and a decrease of 33.5% from the third quarter 
　　   of 2009. 
　　-- Basic and diluted earnings per ADS(2) were RMB 0.96 (US$0.14), as 
　　   compared to RMB 2.34 in the fourth quarter of 2008 and RMB 1.44 in the 
　　   third quarter of 2009.

　　Full Year 2009 Financial Highlights(3)

　　-- Total sales were RMB 820.3 million (US$120.2 million), a decrease of 
　　   13.0% from the preceding year.
　　-- Gross profit was RMB 324.7 million (US$47.6 million), a decrease of 
　　   17.6% from the prior year.
　　-- Income from operations was RMB 207.5 million (US$30.4 million), a 
　　   decrease of 29.6% from the prior year.
　　-- Net income attributable to Chemspec International Limited shareholders 
　　   was RMB 172.4 million (US$25.3 million), a decrease of 44.8% from the 
　　   prior year. Excluding the non-recurring income tax refund of RMB 58.8 
　　   million received in 2008, the net income attributable to Chemspec 
　　   International Limited shareholders for fiscal year 2009 would have a 
　　   decrease of 32.0% from the prior year. 
　　-- Basic and diluted earnings per ADS were RMB 5.18 (US$0.76), compared to 
　　   RMB 10.41 and RMB 10.40 from the prior year.

　　Year 2009 Business Highlights

　　Over the past year, the Company:

　　-- Faced one of the most challenging years in its 13 year history, mainly 
　　   due to the global financial crisis and economic recession, the 
　　   Company's sales were largely impacted in the first quarter of 2009 by 
　　   sharply reduced demand in the electronics chemical market and in the 
　　   third and fourth quarter of 2009 by the unfavorable demand change in 
　　   the global agrochemical market. The Company's chemical products for the 
　　   pharmaceutical market remained stable with some healthy growth. 
　　-- Successfully listed on the NYSE, raising RMB 389.0 million that helps 
　　   the Company establish a strong corporate image for new business 
　　   development and a capital market platform for future growth.
　　-- Recruited highly experienced industry experts across all business 
　　   segments in order to build a stronger management team. 
　　-- Spent a record RMB 343 million in capital expenditures during the year 
　　   to expand the Company's R&amp;D and production facilities and reduce 
　　   bottlenecks that have impeded growth, at times, in the past. Total 
　　   reactor volume increased from 1.1 million liters at the end of 2008 to 
　　   2.0 million liters at the end of 2009. Additional reactors will be 
　　   installed after the completion of the current phase of expansion in the 
　　   first half of 2010. 
　　-- Increased total headcount from 1,171 employees at the end of 2008 to 
　　   1,585 at the end of 2009. 
　　-- Diversified the Company's customer base and built a solid foundation 
　　   that will allow the Company to diversify its product mix from 
　　   traditional chemical intermediates manufacturing into downstream Active 
　　   Pharmaceutical Ingredients (APIs) for the pharmaceutical industry and 
　　   Active Ingredients (AIs) for the agrochemical industry. 
　　-- Received technology grants from the central and local governments for 
　　   four out of the six manufacturing subsidiaries of the Company. Grants 
　　   totaled RMB 10.0 million in the year 2009 -- a strong recognition of 
　　   the Company's leading position in different technologies in many 
　　   industrial fields in which the Company is actively involved.
　　-- Increased the number of approved patents from 6 at the end of 2008 to 
　　   11 by the end of 2009. The Company currently has 28 approved and 
　　   pending approval patents.   

　　First Quarter 2010 Guidance

　　-- Sales are expected to reach between RMB 205 million to 210 million in 
　　   the first quarter of 2010, which would represent an increase of between 
　　   2.3% and 4.8% from the first quarter of 2009 and an increase of between 
　　   15.8% and 18.6% from the fourth quarter of 2009. The increase is 
　　   primarily expected to be driven by a strong recovery in demand in 
　　   various end markets that incorporate the Company's products.
　　-- Gross profit margin is expected to be at the Company's normal 
　　   operational level of above 40%.

　　Declaration of Dividend

　　-- The Company plans to maintain an annual dividend policy, as we 
　　   discussed in the IPO prospectus, of distributing a portion of our 
　　   annual net income to shareholders. The Company's board of directors has 
　　   declared the issuance of its 2009 dividend of $0.003 per ordinary share 
　　   ($0.18 per ADS), payable on April 21, 2010 to shareholders of record as 
　　   of March 31, 2010. However, the declaration, amount and payment of 
　　   future dividends to holders of common stock will be at the discretion 
　　   of the board of directors and will depend upon many factors, including, 
　　   capital requirements, cash flow trends, financial condition, earnings, 
　　   alternate investment opportunities, legal requirements, regulatory 
　　   constraints, industry practice and other factors that the board of 
　　   directors deems relevant. 

　　Completion of Share Repurchase Program

　　-- The Company has substantially completed its share repurchase plan 
　　   announced on September 29, 2009. The total funds used in the share 
　　   repurchase plan were US$1.2 million. 


　　(1)  Certain Renminbi (RMB) amounts in this press release have been 
　　　　 translated into U.S. dollar (US$) solely for the convenience of the 
　　　　 reader. The conversion of RMB into US$ in this release is based on 
　　　　 the Federal Reserve Board certified exchange rate on December 31st, 
　　　　 2009, which was RMB 6.8259 to US$1.00. The percentages stated are 
　　　　 calculated based on RMB.
　　(2)  1 ADS=60 ordinary shares
　　(3)  2008 financial data have been adjusted. Please refer to detail 
　　　　 disclosure in section below "Adjustment to Financial Statements to 
　　　　 Reflect Acquisition of Jiangsu Kangpeng Nong Hua Limited"


　　Dr. Jianhua Yang, Chairman and CEO of Chemspec, commented, "2009 was clearly a difficult year for the global economy. A strong retreat in consumer demand affected the electronics markets that we supply, and unfavorable weather patterns had an impact on most agrochemical end markets. While 2009 presented a number of obstacles that we needed to overcome, it also presented an opportunity for us to prepare for future challenges.  

　　"We remain the leader in terms of chemical process research and development in China and are highly competitive compared to our global peers. We also continue to deepen our relationships with a growing number of customers around the world. 

　　"We devoted considerable time and effort over the past year on improving our internal operations in order to set a more solid foundation for future development. Although we just emerged from an extremely challenging year, we believe we have completed a series of projects and initiated others, as discussed above, which will strengthen our internal operations and will allow us to more effectively deal with challenges that we will face in the future." 

　　Mr. Bing Zhu, Chief Financial Officer of Chemspec, commented, "Given the tough environment in 2009, we took a conservative look at our inventory at year-end and decided to take a provision of RMB 14.7 million to write down the value of some of our obsolete inventories. This is a specific year-end non-cash charge, and we believe it reflects the realities of our current business. However, our financial position remains strong, and excluding the write down, our gross margins in the fourth quarter of 2009 would have stayed roughly in line with prior periods."

　　"In terms of financial performance, we believe we began to experience a positive turn-around in early 2010 as we started to see a recovery in demand in various end markets that incorporate our products. Our guidance for first quarter 2010 sales would represent a record for that period. Although there are still some visibility issues in terms of demand in the coming quarters for some of our products, we have a high degree of confidence that we can achieve quarter-over-quarter sales growth in the next few quarters based on our usual seasonal quarterly-sales fluctuations, our understanding of global market trends in 2010 as well as feedback from our long-term and new customers." 

　　"We decided to issue our first annual dividend for fiscal year 2009 after we completed the share repurchase program that was announced in September 2009 with only US$1.2 million in funds used. Although 2009 was a difficult year in terms of financial performance, we were still able to generate a strong stream of cash from our operations. This dividend shows the management's confidence in our financial position and operational cash generating capabilities in the years to come. We plan to maintain a dividend policy, as we discussed in the IPO prospectus, of distributing a portion of our annual net income when the management and board feel it is the best use of cash. We believe it is important to allow our shareholders to participate in our results in a direct and tangible way in future years."

　　Fourth Quarter 2009 Financial Results

　　Total Sales

　　For the three months ended December 31, 2009, the Company generated total sales of RMB 177.1 million (US$25.9 million), a decrease of 36.4% from the fourth quarter of 2008 and a decrease of 16.2% from the third quarter of 2009. The decrease in the fourth quarter of 2009 mainly reflects weak sales of agrochemical products.

　　Gross Profit and Gross Margin

　　Gross profit was RMB 63.0 million (US$9.2 million), a decrease of 46.7% from the fourth quarter of 2008 and a decrease of 29.5% from the third quarter of 2009. Gross margin was 35.6% in the fourth quarter of 2009. Due to the extremely difficult market situation in 2009, the Company took a conservative look at our inventory at year-end and decided to take a provision of RMB 14.7 million to write down the value of some of our obsolete inventories. Excluding the write-down, gross profit margin would have been 43.9% for the fourth quarter of 2009, which is roughly in line with 42.5% in the fourth quarter of 2008 and 42.3% in the third quarter of 2009. 

　　Operating Expenses

　　Selling expenses and general and administrative expenses were RMB 23.6 million (US$3.5 million) during the fourth quarter of 2009, representing an increase of 11.1% from RMB 21.3 million in the fourth quarter of 2008 and an increase of 21.4% from RMB 19.4 million in the third quarter of 2009. The increase compared to the fourth quarter of 2008 was mainly due to higher professional and other expenses related to being a publicly traded company along with depreciation expenses that started following the Company's move into a new headquarters. The increase compared to the third quarter of 2009 was mainly due to staff salaries and professional expenses. 

　　Research and development (R&amp;D) expenses decreased by 22.9% to RMB 8.0 million (US$1.2 million) during the fourth quarter of 2009 from RMB 10.4 million in the fourth quarter of 2008 and increased by 13.3% from RMB 7.1 million in the third quarter of 2009. The decrease compared with the same period in 2008 was primarily due to a decrease in material consumption. Compared to the third quarter of 2009, the increase was mainly due to higher staff salaries.

　　Income from operations and earnings before income taxes

　　As a result of the factors mentioned above, income from operations was RMB 28.6 million (US$4.2 million) and earnings before income taxes were RMB 29.0 million (US$4.3 million) in the fourth quarter of 2009, decreases of 66.6% and 65.5%, respectively, from the fourth quarter of 2008, and decreases of 53.8% and 53.6%, respectively, from the third quarter of 2009.  

　　Net income attributable to Chemspec International Limited shareholders 

　　Net income attributable to Chemspec International Limited shareholders was RMB 34.8 million (US$5.1 million) in the fourth quarter of 2009, a decrease of 50.5% from the fourth quarter of 2008 and a decrease of 33.5% from the third quarter of 2009. The decrease in net income attributable to Chemspec International Limited shareholders was mainly caused by the decrease in sales and the one-time year-end inventory write-down. 

　　Basic and diluted earnings per ADS were RMB 0.96 (US$0.14), as compared to RMB 2.34 in the fourth quarter of 2008 and RMB 1.44 in the third quarter of 2009.

　　Full Year 2009 Financial Results

　　Total Sales

　　For the twelve months ended December 31, 2009, the Company generated total sales of RMB 820.3 million (US$120.2 million), a decrease of 13.0% from 2008. The decrease was mainly due to weak demand in the Company's end markets, primarily as a result of the global financial crisis.

　　Gross Profit and Gross Margin

　　Gross profit was RMB 324.7 million (US$47.6 million), a decrease of 17.6% from 2008, due primarily to reduced sales in electronic chemicals in the first quarter of 2009 and reduced sales in agrochemicals in the third and fourth quarter of 2009.

　　Operating Expenses

　　Total operating expenses were RMB 119 million (US$17.4 million), which compares to RMB 100.5 million (US$14.7 million) in 2008. The increase was primarily due to higher personnel salaries for experienced senior level employees, higher depreciation since we moved into new headquarters and R&amp;D buildings, and other consulting and audit fees associated with being a publicly-listed company.

　　Income from operations and earnings before income taxes

　　Income from operations totaled RMB 207.5 million (US$30.4 million), compared to RMB 294.5 (US$43.1 million) in 2008. 

　　Net income attributable to Chemspec International Limited shareholders 

　　Net income attributable to Chemspec International Limited shareholders for fiscal year 2009 was RMB 172.4 million (US$25.3 million), a decrease of 44.8% from RMB 312.4 million (US$45.8 million) in 2008. Excluding the non-recurring income tax refund of RMB 58.8 million received in 2008, the net income attributable to Chemspec International Limited shareholders for fiscal year 2009 would have a decrease of 32.0% from the prior year mainly due to the lower total sales, lower annual average gross profit margin as well as higher effective income tax rate. 

　　Basic and diluted earnings per ADS for fiscal year 2009 were RMB 5.18 (US$0.76) and RMB 5.18 (US$0.76), compared to RMB 10.41 and RMB 10.40 in 2008.

　　Balance Sheet

　　As of December 31, 2009, the Company had RMB 351.1 million (US$51.4 million) in cash, as compared to RMB 180.6 million as of December 31, 2008. The increase in the Company's cash was primarily due to the proceeds of approximately RMB 389.0 million (US$57.0 million) from the Company's IPO in June 2009. 

　　The Company's year-end 2009 inventory level increased to RMB 271.4 million (US$39.8 million) from RMB 218.3 million as of December 31, 2008. The increase reflects a change in the Company's product mix as a strong recovery in demand started in early 2010 for the Company's specialty chemical products used in the electronics field. As Chemspec's products in this field are technically highly complex and involve a long in-house production cycle, management expects the average inventory level to be approximately RMB 300 million in year 2010.

　　As the Company acquired the remaining non-controlling shares of Jiangsu Wei Er Chemicals Co., Ltd. and 100% of the shares of Jiangsu Kangpeng Nong Hua Limited (elaborated in section below) as well as repurchased a certain number of shares from the open market in the fourth quarter of 2009, the total equity of the Company reduced to RMB 1,192.3 million at the end of the fourth quarter of 2009 from RMB 1,228.5 million at the end of the third quarter of 2009, after netting off the net income from the fourth quarter of 2009.

　　Adjustment to Financial Statements to Reflect Acquisition of Jiangsu Kangpeng Nong Hua Limited

　　Chemspec acquired 100% equity interest of Jiangsu Kangpeng Nong Hua Limited, or Kangpeng Nong Hua, in November 2009 for RMB 25 million in cash. Since the Company's Chairman and CEO, Dr. Yang, owned more than 50% of the voting rights of both the Company and Kangpeng Nong Hua as of the date of the acquisition, the acquisition was considered a combination between entities under common control in accordance with ASC Topic 805. Therefore, the Company's consolidated financial statements have been retrospectively adjusted to reflect the combined entities for the periods during which the entities were under common control. 

　　Accordingly, the Company's balance sheet as of December 31, 2008 and the related consolidated statements of income, shareholders' equity, comprehensive income, and cash flows for the year ended December 31, 2008 have been retrospectively adjusted to reflect the combined entities for the periods during which the entities were under common control. The effects of the change to the Company's financial statements are as follows: 



　　RMB'000　　　　 December 31, 2008　　　　　　　　  December 31, 2009　　　　 
　　　　　　　　　　　　　　　　　　　　　　 As computed  As reported　　 
　　　　　　　　 As　　　　As　　　　　　　　 excluding　　including   
　　　　　　 Originally Adjusted  Effect of   Kangpeng　　 Kangpeng  Effect of
　　　　　　  Reported　　　　　　 Change　　 Nong Hua　　 Nong Hua　　Change 
　　Total
　　 assets  1,014,880 1,063,457   48,577　　 1,551,565   1,575,283　　23,718 
　　Total
　　 equity　　729,171   745,213   16,042　　 1,207,143   1,192,260   (14,883)
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　   Year ended December 31, 2008　　   Year ended December 31, 2009   
　　　　　　　　　　　　　　　　　　　　　　 As computed  As reported　　 
　　　　　　　　 As　　　　As　　　　　　　　 excluding　　including  
　　　　　　 Originally Adjusted  Effect of   Kangpeng　　 Kangpeng  Effect of
　　　　　　  Reported　　　　　　 Change　　 Nong Hua　　 Nong Hua　　Change 
　　Net　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 income　　317,905   316,668   (1,237)　　  183,078　　 177,152　　(5,926)
　　Total　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 compre-
　　 hensive　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 income　　320,342   319,105   (1,237)　　  183,133　　 177,207　　(5,926)
　　Revenue　　944,854   942,487   (2,367)　　  821,081　　 820,295　　  (786)
　　Earnings　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 per
　　 share　　 RMB0.17   RMB0.17  RMB0.00　　   RMB0.09　　 RMB0.09   RMB0.00 


　　Conference Call Details

　　The company will host a conference call and live webcast to discuss its fourth quarter results and forward outlook at 8:00am Eastern Time (9:00 pm Beijing time) on Thursday, March 11, 2010. 

　　 - U.S. Toll Free Number:　　　　　　 1-866-519-4004
　　 - International Dial-in Number:　　  +1-718-254-1231
　　 - Mainland China Toll Free Number:   800-819-0121 (land line)
　　　　　　　　　　　　　　　　　　　　  400-620-8038 (Mobile)
　　 - Hong Kong Toll Free Number:　　　　852-2475-0994
　　 - Conference ID:　　　　　　　　　　 CPC


　　A live and archived webcast of the conference call will be available on the Investor Relations section of Chemspec's website at http://www.chemspec.com.cn .

　　A telephone replay of the call will be available after the conclusion of the conference call through midnight, March 18, 2010, Eastern Time. 

　　The dial-in details for the replay are as follows:

　　 - U.S. Toll Free Number　　　　　　  +1-866-214-5335
　　 - International Dial-in Number　　   +61-2-8235-5000
　　 Conference ID:　　　　　　　　　　   60804122



　　　　　　　　　　　　  Chemspec International Limited　　　　　　　　　　  
　　　　　　　　　　  Unaudited Consolidated Balance Sheets　　　　　　　　   
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　December 31,   December 31,   December 31,
　　　　　　　　　　　　　　　　　　　　2008　　　　   2009　　　　   2009 
　　　　　　　　　　　　　　　　　　  RMB'000　　　　RMB'000　　　　USD'000 
　　　　　　　　　　　　　　　　   (as adjusted)　　　　　　　　　　　　　　
　　ASSETS　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　Current assets　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　Cash　　　　　　　　　　　　　　  180,602　　　　 351,097　　　　51,436 
　　Pledged bank deposits　　　　　　  21,536　　　　  37,919　　　　 5,555 
　　Accounts receivable, net　　　　  136,664　　　　  94,154　　　　13,794 
　　Bills receivable　　　　　　　　　　   --　　　　   1,327　　　　   194 
　　Inventories　　　　　　　　　　   218,263　　　　 271,434　　　　39,765 
　　Prepayment and other　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 receivables　　　　　　　　　　   24,597　　　　  38,738　　　　 5,675 
　　Amounts due from　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 related parties　　　　　　　　　　2,500　　　　　　  64　　　　　　 9 
　　Deferred income　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 tax assets　　　　　　　　　　　　   344　　　　   3,424　　　　   502 
　　Total current assets　　　　　　  584,506　　　　 798,157　　   116,930 
　　Investment in an affiliate　　　　　　 --　　　　  13,296　　　　 1,948 
　　Property, plant and
　　 equipment, net　　　　　　　　   405,180　　　　 699,181　　   102,431 
　　Land use rights　　　　　　　　　　55,175　　　　  56,064　　　　 8,213 
　　Intangible assets　　　　　　　　　　 947　　　　　　 839　　　　   123 
　　Goodwill　　　　　　　　　　　　　　7,446　　　　   7,446　　　　 1,091 
　　Deferred offering costs　　　　　　 9,843　　　　　　  --　　　　　　-- 
　　Deferred income tax assets　　　　　　360　　　　　　 300　　　　　　44 
　　Total assets　　　　　　　　　　1,063,457　　   1,575,283　　   230,780 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　LIABILITIES AND EQUITY　　　　　　　　　　　　　　　　　　　　　　　　  
　　Current liabilities 
　　Bank borrowings　　　　　　　　　　65,000　　　　　　  --　　　　　　-- 
　　Accounts payable　　　　　　　　   81,382　　　　  81,870　　　　11,994 
　　Bills payable　　　　　　　　　　  27,562　　　　  49,738　　　　 7,287 
　　Amounts due to　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 related parties　　　　　　　　   51,246　　　　  23,659　　　　 3,466 
　　Accrued expenses and other　　　　　　　　　　　　　　　　　　　　　　  
　　 payables　　　　　　　　　　　　  65,413　　　　 183,266　　　　26,849 
　　Income taxes payable　　　　　　　　6,395　　　　   1,298　　　　   190 
　　Total current liabilities　　　　 296,998　　　　 339,831　　　　49,786 
　　Bank borrowings　　　　　　　　　　　　--　　　　  10,000　　　　 1,465 
　　Deferred income　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 tax liabilities　　　　　　　　   15,680　　　　  18,056　　　　 2,645 
　　Deferred income　　　　　　　　　　 5,566　　　　  15,136　　　　 2,217 
　　Total liabilities　　　　　　　　 318,244　　　　 383,023　　　　56,113 

　　Equity　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　Ordinary shares: HK$ 0.01
　　 par value; 20,000,000,000　　　　　　　　　　　　　　　　　　　　　　  
　　 shares authorized as of　　　　　　　　　　　　　　　　　　　　　　　　
　　 December 31, 2008 and　　　　　　　　　　　　　　　　　　　　　　　　  
　　 December 31, 2009;　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 1,800,000,000 and　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 2,167,620,000 shares
　　 issued and outstanding as　　　　　　　　　　　　　　　　　　　　　　  
　　 of December 31, 2008 and　　　　　　　　　　　　　　　　　　　　　　   
　　 December 31, 2009,　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 respectively　　　　　　　　　　  18,446　　　　  21,686　　　　 3,177 
　　Additional paid-in capital　　　　 39,213　　　　 326,948　　　　47,898 
　　Statutory reserves　　　　　　　　 45,837　　　　  63,422　　　　 9,291 
　　Accumulated other　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 comprehensive income　　　　　　   6,749　　　　   6,803　　　　   997 
　　Retained earnings　　　　　　　　 619,888　　　　 767,393　　   112,424 
　　Total Chemspec 
　　 International Limited　　　　　　　　　　　　　　　　　　　　　　　　  
　　 shareholders' equity　　　　　　 730,133　　   1,186,252　　   173,787 
　　Non-controlling interests　　　　  15,080　　　　   6,008　　　　   880 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Total equity　　　　　　　　　　  745,213　　   1,192,260　　   174,667 
　　Total liabilities　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 and equity　　　　　　　　　　 1,063,457　　   1,575,283　　   230,780 



　　　　　　　　　　　　 Chemspec International Limited　　　　　　　　　　  
　　　　　　  Unaudited Quarterly Consolidated Statements of Income　　　　  
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　   Three-month periods ended　　　　　　　　 
　　　　　　　　　　　　  Dec 31,　　　　Sept 30,　　　　Dec 31,　　  Dec 31,  
　　　　　　　　　　　　   2008　　　　　　2009　　　　   2009　　　　 2009 
　　　　　　　　　　　　 RMB'000　　　　 RMB'000　　　　RMB'000　　  USD'000   
　　　　　　　　　　  (as adjusted)   (as adjusted)　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Sales　　　　　　　　278,394　　　　 211,305　　　　177,050　　   25,938 
　　Cost of sales　　   (160,036)　　   (121,848)　　  (114,022)　　 (16,704)
　　Gross profit　　　　 118,358　　　　  89,457　　　　 63,028　　　　9,234 
　　Selling expenses　　  (2,658)　　　　 (2,405)　　　　(2,817)　　　　(413)
　　General and　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 administrative
　　 expenses　　　　　　(18,597)　　　　(17,044)　　   (20,792)　　  (3,046)
　　Research and　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 development　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 expenses　　　　　　(10,387)　　　　 (7,074)　　　　(8,012)　　  (1,174)
　　Other operating 
　　 expenses　　　　　　 (1,575)　　　　 (1,297)　　　　(3,380)　　　　(495)
　　Other operating　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 income　　　　　　　　  620　　　　　　 311　　　　　　236　　　　   35 
　　Government grants　　　　 --　　　　　　  11　　　　　　362　　　　   53 
　　Income from　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 operations　　　　   85,761　　　　  61,959　　　　 28,625　　　　4,194 
　　Other income　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 (expenses):　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Equity in loss　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 of an affiliate　　　　  --　　　　　　 (85)　　　　   (91)　　　　 (13)
　　Interest income　　　　  991　　　　　　 467　　　　　　482　　　　   70 
　　Interest expense　　  (1,007)　　　　   (418)　　　　  (309)　　　　 (45)
　　Foreign currency　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 exchange (loss)
　　 gain, net　　　　　　(1,657)　　　　　　220　　　　　　230　　　　   34 
　　Other income　　　　　　  67　　　　　　 376　　　　　　 91　　　　   13 
　　Earnings before
　　 income taxes　　　　 84,155　　　　  62,519　　　　 29,028　　　　4,253 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Income tax　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 (expense)　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 benefit　　　　　　 (11,565)　　　　(11,427)　　　　 6,169　　　　  903 
　　Net income　　　　　　72,590　　　　  51,092　　　　 35,197　　　　5,156 
　　Net (income) loss　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 attributable to 
　　 non-controlling　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 interests　　　　　　(2,345)　　　　  1,200　　　　   (433)　　　　 (63)
　　Net income　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 attributable　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 to Chemspec　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 International　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 Limited　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 shareholders　　　　 70,245　　　　  52,292　　　　 34,764　　　　5,093 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Basic earnings　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 per share　　　　  RMB 0.04　　　　RMB 0.02　　   RMB 0.02　　 USD 0.00 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Diluted earnings
　　 per share　　　　  RMB 0.04　　　　RMB 0.02　　   RMB 0.02　　 USD 0.00 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Basic earnings　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 per ADS　　　　　　RMB 2.34　　　　RMB 1.44　　   RMB 0.96　　 USD 0.14 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Diluted earnings
　　 per ADS　　　　　　RMB 2.34　　　　RMB 1.44　　   RMB 0.96　　 USD 0.14 



　　　　　　　　　　　　 Chemspec International Limited　　　　　　　　　　  
　　　　　　   Unaudited Annual Consolidated Statements of Income　　　　　　
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　Years ended　　　　　　　　　　　　
　　　　　　　　　　　　　　December 31,　　　　December 31,　　   December 31,   
　　　　　　　　　　　　　　　　2008　　　　　　　　2009　　　　　　   2009 
　　　　　　　　　　　　　　  RMB'000　　　　　　 RMB'000　　　　　　USD'000　　 
　　　　　　　　　　　　   (as adjusted)　　　　　　　　　　　　　　　　　　  
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Sales　　　　　　　　　　 942,487　　　　　　 820,295　　　　　　120,173 
　　Cost of sales　　　　　　(548,543)　　　　   (495,584)　　　　   (72,603)
　　Gross profit　　　　　　  393,944　　　　　　 324,711　　　　　　 47,570 
　　Selling expenses　　　　  (11,898)　　　　　　(11,245)　　　　　　(1,647)
　　General and　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 administrative
　　 expenses　　　　　　　　 (58,947)　　　　　　(69,871)　　　　   (10,236)
　　Research and　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 development　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 expenses　　　　　　　　 (27,483)　　　　　　(30,913)　　　　　　(4,529)
　　Other operating　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 expenses　　　　　　　　  (2,188)　　　　　　 (7,145)　　　　　　(1,047)
　　Other operating　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 income　　　　　　　　　　 1,012　　　　　　　　 953　　　　　　　　140 
　　Government grants　　　　　　  50　　　　　　　　 971　　　　　　　　142 
　　Income from　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 operations　　　　　　   294,490　　　　　　 207,461　　　　　　 30,393 
　　Other income　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 (expenses):　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Equity in loss　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 of an affiliate　　　　　　   --　　　　　　　　(176)　　　　　　   (26)
　　Interest income　　　　　　 2,116　　　　　　   2,296　　　　　　　　336 
　　Interest expense　　　　   (2,746)　　　　　　 (2,149)　　　　　　  (315)
　　Foreign currency　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 exchange loss, net　　　　(9,514)　　　　　　 (1,961)　　　　　　  (286)
　　Other income　　　　　　　　   82　　　　　　　　 519　　　　　　　　 76 
　　Earnings before
　　 income taxes　　　　　　 284,428　　　　　　 205,990　　　　　　 30,178 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Income tax　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 benefit　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 (expense)　　　　　　　　 32,240　　　　　　 (28,838)　　　　　　(4,225)
　　Net income　　　　　　　　316,668　　　　　　 177,152　　　　　　 25,953 
　　Net income　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 attributable to　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 non-controlling　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 interests　　　　　　　　 (4,307)　　　　　　 (4,721)　　　　　　  (692)
　　Net income　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 attributable　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 to Chemspec　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 International　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 Limited　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 shareholders　　　　　　 312,361　　　　　　 172,431　　　　　　 25,261 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Basic earnings　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 per share　　　　　　   RMB 0.17　　　　　　RMB 0.09　　　　   USD 0.01 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Diluted earnings
　　 per share　　　　　　   RMB 0.17　　　　　　RMB 0.09　　　　   USD 0.01 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Basic earnings　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 per ADS　　　　　　　　RMB 10.41　　　　　　RMB 5.18　　　　   USD 0.76 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Diluted earnings
　　 per ADS　　　　　　　　RMB 10.40　　　　　　RMB 5.18　　　　   USD 0.76 



　　　　　　　　　　　　  Chemspec International Limited　　　　　　　　　　  
　　　　　　　　 Unaudited Consolidated Statements of Cash Flows　　　　　　  
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　　　　　　　　　　　　　　　　　　　　　　　Dec 31,　　 Dec 31,   Dec 31,　　
　　　　　　　　　　　　　　　　　　　　　　　　 2008　　　　2009　　  2009 
　　　　　　　　　　　　　　　　　　　　　　   RMB'000　　 RMB'000  USD '000　　
　　　　　　　　　　　　　　　　　　　　　　(as adjusted)　　　　　　　　　　 
　　Cash flows from　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 operating activities　　　　　　　　　　　　　　　　　　　　　　　　
　　Net income　　　　　　　　　　　　　　　　 316,668　　 177,152　　25,953 
　　Adjustments to reconcile net income
　　 to net cash provided by operating　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 activities:　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Depreciation and amortization of　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 property, plant and equipment　　　　　　  24,700　　  37,204　　 5,450 
　　Land use rights　　　　　　　　　　　　　　　　998　　   1,132　　   166 
　　Amortization of intangible assets　　　　　　   27　　　　 108　　　　16 
　　Loss on disposal of property, plant
　　 and equipment　　　　　　　　　　　　　　   1,424　　   6,505　　   953 
　　Equity in loss of an affiliate　　　　　　　　  --　　　　 176　　　　26 
　　Bad debt expense　　　　　　　　　　　　　　  (241)　　　　 64　　　　 9 
　　Write-down of inventories　　　　　　　　　　1,090　　  14,696　　 2,153 
　　Unrealized foreign exchange loss, net　　　　1,573　　　　  93　　　　14 
　　Gain on transfer of land use right to
　　 an affiliate　　　　　　　　　　　　　　　　   --　　　　(290)　　  (42)
　　Share-based compensation　　　　　　　　　　17,917　　  15,443　　 2,262 
　　Deferred income tax　　　　　　　　　　　　　　　　　　　　　　　　  
　　 expense (benefit)　　　　　　　　　　　　  16,024　　　　(644)　　  (94)
　　Changes in operating assets and　　　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 liabilities net of effects of　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 divestiture of a subsidiary and　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　 acquisitions of equity interest
　　 in subsidiaries:　　　　　　　　　　　　　　　　　　　　　　　　　　   
　　  Pledged bank deposits related　　　　　　　　　　　　　　　　　　　　　　　　   
　　   to purchase of inventory　　　　　　　　(17,587)　　　　994　　   146 
　　  Inventories　　　　　　　　　　　　　　  (80,490)　　(67,867)   (9,942)
　　  Accounts receivable　　　　　　　　　　  (48,158)　　 42,354　　 6,205 
　　  Bills receivable　　　　　　　　　　　　　　  --　　  (1,327)　　 (194)
　　  Prepayment and other receivables　　　　  13,658　　 (14,141)   (2,072)
　　  Accounts payable　　　　　　　　　　　　  12,691　　　　 488　　　　71 
　　  Bills payable related to　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　   purchase of inventory　　　　　　　　　　14,084　　  (5,158)　　 (756)
　　  Accrued expenses and other payables　　   15,730　　  13,424　　 1,967 
　　  Income taxes payable　　　　　　　　　　  (1,729)　　 (5,097)　　 (747)
　　Net cash provided by　　　　　　　　　　　　　　　　　　　　　　　　 
　　 operating activities　　　　　　　　　　  288,379　　 215,309　　31,544 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Cash flows from investing activities　　　　　　　　　　　　　　　　　　　　　　　　
　　Capital expenditures, including
　　 interest capitalized　　　　　　　　　　 (127,846)   (231,727)  (33,949)
　　Proceeds from the sale　　　　　　　　　　　　　　　　　　　　　　   
　　 of a subsidiary　　　　　　　　　　　　　　 3,420　　　　  --　　　　-- 
　　Proceeds from sale of property,
　　 plant and equipment　　　　　　　　　　　　   200　　　　  --　　　　-- 
　　Investment in an affiliate　　　　　　　　　　  --　　 (11,225)   (1,644)
　　Non-interest bearing advances to
　　 related parties　　　　　　　　　　　　   (30,900)　　　　 --　　　　-- 
　　Non-interest bearing advances
　　 repaid by related parties　　　　　　　　  48,480　　   2,436　　   357 
　　Net cash assumed from　　　　　　　　　　　　　　　　　　　　　　　　
　　 acquisition of subsidiaries　　　　　　　　11,988　　　　  --　　　　-- 
　　Payments for land use rights　　　　　　   (17,517)　　　　 --　　　　-- 
　　Pledged bank deposit related to
　　 purchase of property, plant　　　　　　　　　　　　　　　　　　　　　　　　   
　　 and equipment　　　　　　　　　　　　　　　　  --　　 (17,377)   (2,546)
　　Net cash used in investing activities　　 (112,175)   (257,893)  (37,782)
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Cash flows from financing activities　　　　　　　　　　　　　　　　　　　　　　　　
　　Acquisition of additional equity　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 interest in subsidiaries　　　　　　　　   (8,000)　　(17,500)   (2,564)
　　Capital contributions to a subsidiary
　　 by a non-controlling interest　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 shareholder　　　　　　　　　　　　　　　　　　--　　   1,600　　   234 
　　Proceeds from issuance　　　　　　　　　　　　　　　　　　　　　　   
　　 of ordinary shares　　　　　　　　　　　　　　 --　　 389,022　　56,992 
　　Payments for initial　　　　　　　　　　　　　　　　　　　　　　　　 
　　 public offering costs　　　　　　　　　　  (9,843)　　(52,775)   (7,732)
　　Proceeds from bank loans　　　　　　　　　　70,000　　  25,000　　 3,663 
　　Repayments of bank loans　　　　　　　　   (50,000)　　(80,000)  (11,720)
　　Repurchase of ordinary shares　　　　　　　　   --　　  (8,134)   (1,192)
　　Dividend paid by a subsidiary to　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 non-controlling interest shareholders　　　　  --　　  (2,500)　　 (366)
　　Proceeds from non-interest bearing　　　　　　　　　　　　　　　　　　　　　　　　 
　　 borrowings from related parties　　　　　　20,400　　　　  --　　　　-- 
　　Repayments of non-interest bearing　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 borrowings from related parties　　　　   (75,380)　　(41,687)   (6,107)
　　Net cash (used in) provided by
　　 financing activities　　　　　　　　　　  (52,823)　　213,026　　31,208 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Effect of foreign　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 currency exchange　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 rate changes on cash　　　　　　　　　　　　  292　　　　  53　　　　 8 
　　Net increase in cash　　　　　　　　　　   123,673　　 170,495　　24,978 
　　Cash at beginning of　　　　　　　　　　　　　　　　　　　　　　　　 
　　 period　　　　　　　　　　　　　　　　　　 56,929　　 180,602　　26,458 
　　Cash at end of period　　　　　　　　　　  180,602　　 351,097　　51,436 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Supplemental disclosures of cash　　　　　　　　　　　　　　　　　　　　　　　　  
　　 flow information:　　　　　　　　　　　　　　　　　　　　　　　　   
　　Income taxes paid　　　　　　　　　　　　   12,725　　  34,579　　 5,066 
　　Income taxes refund　　　　　　　　　　　　 58,767　　　　  --　　　　-- 
　　Interest paid, net of　　　　　　　　　　　　　　　　　　　　　　　　
　　 amounts capitalized　　　　　　　　　　　　 2,746　　   2,149　　   315 
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Supplemental schedule of noncash
　　 investing and financing　　　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 activities:　　　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　Payable for purchase of property,
　　 plant and equipment　　　　　　　　　　　　35,547　　 118,174　　17,313 
　　Payable for acquisitions of　　　　　　　　　　　　　　　　　　　　　　　　　　  
　　 non-controlling interests in　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　 subsidiaries　　　　　　　　　　　　　　　　   --　　  48,500　　 7,105 
　　Bills payable for purchase of
　　 property, plant and equipment　　　　　　　　 771　　  28,105　　 4,117 
　　Land use right contributed to an　　　　　　　　　　　　　　　　　　　　　　　　　　
　　 affiliate　　　　　　　　　　　　　　　　　　  --　　   1,957　　   287 


　　About Chemspec 

　　Chemspec is a leading China-based contract manufacturer of highly engineered specialty chemicals and the largest manufacturer of fluorinated specialty chemicals in China based on sales. In manufacturing specialty chemicals, Chemspec also provides process design and process development services, which enable efficient and rapid production of specialty chemicals that are incorporated into the products of Chemspec's end users. Chemspec's customers and end users include electronics, pharmaceutical and agrochemical companies. For more information, please visit http://www.chemspec.com.cn .

　　Safe Harbor Statements

　　This announcement contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Chemspec's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1, as amended from time to time. Chemspec does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

　　For further information, please contact:

　　Chemspec International Ltd.
　　 In Shanghai
　　 Bing Zhu
　　 Chief Financial Officer
　　 Phone: +86-21-6363-8108
　　 Email: ir@chemspec.com.cn
　　
　　Christensen
　　 In New York
　　 Kathy Li
　　 Phone: +1-212-618-1978
　　 Email: kli@christensenir.com

　　 In Hong Kong
　　 Tip Fleming
　　 Phone: +852-9212-0684
　　 Email: tfleming@christensenir.com]]></detail>
		<source><![CDATA[SOURCE  Chemspec International Limited]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100200211-1.html</link>
		<title>Vital Voices and Avon Announce Innovative Partnership to End Violence Against Women Worldwide</title>
		<author>PR Newswire Asia</author>
		
		<category>General</category>
		
		<pubDate>Thu, 11 Mar 2010 03:44:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec01274999577d0060</guid>
		<description><![CDATA[Initiative Includes US$1.2 Million in Donations from the Avon Foundation for Women and Avon Products, Inc. to Fund Bold and Innovative Programs that Seek Sustainable Solutions to End World's Worst Forms of Violence: Sexual Violence, Domestic Violence and Human Trafficking


　　WASHINGTON, March 11 /PRNewswire-Asia/ -- Vital Voices (http://www.vitalvoices.org ) and The Avon Foundation for Women (http://www.avonfoundation.org ) today announced The Global Partnership to End Violence Against women, a new innovative collaboration with the U.S. State Department to combat the most destructive types of violence against women and help ensure justice for women and girls worldwide. With one in three women globally the victim of abuse or violence in their lifetime, the Global Partnership will address the need for serious, sustained on the ground research and development, as well as actionable, collaborative, culturally-sensitive local solutions that can change these statistics in a measurable way.

　　To view the multimedia assets associated with this release, please click: http://multivu.prnewswire.com/mnr/avon/42564/

　　(PHOTO: http://www.newscom.com/cgi-bin/prnh/20100310/MM65998 )

　　To facilitate the Global Partnership, Avon and the Avon Foundation for Women announced $1.2 million in donations to Vital Voices to bring together 15 country delegations consisting of leaders from diverse sectors, including business, government, law enforcement, the NGO community, media/entertainment, academia and others -- in a first of its kind global forum to share insights, forge collaborations, and seek ways to overcome challenging cultural realities that have been barriers to progress. Vital Voices and the Avon Foundation for Women will also support these delegations when they return to their home countries with regional programs and a toolkit that can be used on a year-long basis as action plans are implemented.

　　Alyse Nelson, President of Vital Voices says the issue of violence against women has been ignored for too long. "While one in three women will be the victim of abuse or violence at some point in their lives, not nearly enough attention has been given to this global crisis," she said. "Around the world, services for victims are often vastly underfunded or unavailable and in many countries, laws to protect women do not exist or are not understood nor enforced. The economic cost of domestic violence, sexual violence and human trafficking together is estimated to be in the trillions of dollars. It's going to take real commitment and partnership within all countries to address their specific problems with culturally sensitive solutions that are truly sustainable over time."

　　Andrea Jung, Chairman and Chief Executive Officer of Avon Products Inc. commented: "It is more urgent than ever to confront this growing global challenge," she said. "With over six million Avon Representatives in more than 100 countries, Avon is the largest engine of economic opportunity for women on earth. We have seen first hand that when a woman is empowered economically, she can escape an abusive situation. Given our close personal connections with women, we feel it is our obligation and responsibility, and that we are uniquely suited, to be a committed partner in the search for innovative solutions that truly make a difference to ending the epidemic of violence against women in our lifetime."

　　The Global Partnership to End Violence Against Women is founded on the premise that local experts are best suited to know what solutions will work in their own communities. Nelson says: "The hope is that by engaging delegates who know their cultures best, we'll be able to develop and implement more sustainable programs to address this pervasive problem. The goal of The Global Partnership is to support these local teams with information, resources and funding. This will be an ongoing effort, local implementation supported by global collaboration and sharing of best practices as we gain a better understanding of what works."

　　As part of Avon's ongoing collaboration in support of this issue, Reese Witherspoon, the company's global ambassador and honorary chairperson of the Avon Foundation for Women, today announced a new Avon fundraising product -- the Women's Empowerment Ring -- that the company anticipates will raise significant funds to support local country initiatives to end violence against women. The Women's Empowerment Ring is launched as a companion piece to the Women's Empowerment Bracelet and the Women's Empowerment Necklace, launched in 2008 and 2009 respectively, which together have raised $8 million globally. The Women's Empowerment Ring, priced at $5.00, will be sold through Avon Representatives in over 45 countries and on http://www.avon.com , with 100% of net profits ($3.80 for each ring sold) going to support domestic violence programs. In the US, every Women's Empowerment product sold will include a free Domestic Violence Resource Guide to increase awareness of this epidemic of violence, provide helpful information and resources, and encourage everyone to speak out so it stops.

　　"There is nothing more important for all of us than ensuring the safety of women and girls everywhere. The problem is so pervasive, it's critical that we find ways to work together, as a global community, to combat it. I applaud this groundbreaking new Partnership, and look forward to the innovative ideas and solutions it will produce."

　　This year, Vital Voices will be celebrating the 15th anniversary of its creation at the Beijing Women's Conference where then-First Lady Hillary Clinton equated women's rights to human rights. Since then, it has developed programs to help provide safety and justice for women in more than 50 countries nationwide. The Avon Foundation for Women launched Speak Out Against Domestic Violence in 2004 to provide funding to domestic violence organizations for awareness, education, prevention programs and direct services for victims. In a few short years, Avon global philanthropy has committed more than $16 million to end violence against women.

　　To get real time updates about The Global Partnership to End Violence Against Women, visit the Avon online channels on Facebook (http://www.facebook.com/AvonProductsInc ), Twitter (http://twitter.com/avonprnewsflash ) and YouTube (http://www.youtube.com/avonproductsinc ).

　　Vital Voices
　　Vital Voices Global Partnership is a leading non-governmental organization (NGO) that identifies, trains and empowers emerging women leaders and social entrepreneurs around the globe, enabling them to create a better world for us all. Vital Voices provides these women with the capacity, connections and credibility they need to unlock their potential. The Vital Voices mission is to identify, invest in and bring visibility to extraordinary women around the world by unleashing their leadership potential to transform lives and accelerate peace and prosperity in their communities. The Vital Voices international staff and team of over 1000 partners, pro bono experts and leaders, including senior government, corporate and NGO executives, have trained and mentored more than 8,000 emerging women leaders from over 127 countries in Asia, Africa, Eurasia, Latin America and the Middle East since 1997. These women have returned home to train and mentor more than 500,000 additional women and girls in their communities.

　　Avon Products, Inc.

　　Avon (NYSE: AVP), the company for women, is a leading global beauty company, with over $10 billion in annual revenue. As the world's largest direct seller, Avon markets to women in more than 100 countries through approximately 6 million independent Avon Sales Representatives. Avon's product line includes beauty products, as well as fashion and home products, and features such well-recognized brand names as Avon Color, Anew, Skin-So-Soft, Advance Techniques, Avon Naturals, and Mark. Learn more about Avon and its products at http://www.avoncompany.com .

　　Avon Foundation for Women

　　The Avon Foundation for Women is the world's largest corporate-affiliated philanthropy focused on women's issues. Since it was founded in 1955, the Avon Foundation has been committed to the mission to improve the lives of women and their families. Now past the half century milestone, the Avon Foundation is a 501(c)(3) public charity that today brings this mission to life through two key areas of focus: breast cancer and domestic violence. Through 2009, Avon global philanthropy has donated more than $725 million in over 50 countries for causes most important to women.]]></description>
		<detail><![CDATA[Initiative Includes US$1.2 Million in Donations from the Avon Foundation for Women and Avon Products, Inc. to Fund Bold and Innovative Programs that Seek Sustainable Solutions to End World's Worst Forms of Violence: Sexual Violence, Domestic Violence and Human Trafficking


　　WASHINGTON, March 11 /PRNewswire-Asia/ -- Vital Voices (http://www.vitalvoices.org ) and The Avon Foundation for Women (http://www.avonfoundation.org ) today announced The Global Partnership to End Violence Against women, a new innovative collaboration with the U.S. State Department to combat the most destructive types of violence against women and help ensure justice for women and girls worldwide. With one in three women globally the victim of abuse or violence in their lifetime, the Global Partnership will address the need for serious, sustained on the ground research and development, as well as actionable, collaborative, culturally-sensitive local solutions that can change these statistics in a measurable way.

　　To view the multimedia assets associated with this release, please click: http://multivu.prnewswire.com/mnr/avon/42564/

　　(PHOTO: http://www.newscom.com/cgi-bin/prnh/20100310/MM65998 )

　　To facilitate the Global Partnership, Avon and the Avon Foundation for Women announced $1.2 million in donations to Vital Voices to bring together 15 country delegations consisting of leaders from diverse sectors, including business, government, law enforcement, the NGO community, media/entertainment, academia and others -- in a first of its kind global forum to share insights, forge collaborations, and seek ways to overcome challenging cultural realities that have been barriers to progress. Vital Voices and the Avon Foundation for Women will also support these delegations when they return to their home countries with regional programs and a toolkit that can be used on a year-long basis as action plans are implemented.

　　Alyse Nelson, President of Vital Voices says the issue of violence against women has been ignored for too long. "While one in three women will be the victim of abuse or violence at some point in their lives, not nearly enough attention has been given to this global crisis," she said. "Around the world, services for victims are often vastly underfunded or unavailable and in many countries, laws to protect women do not exist or are not understood nor enforced. The economic cost of domestic violence, sexual violence and human trafficking together is estimated to be in the trillions of dollars. It's going to take real commitment and partnership within all countries to address their specific problems with culturally sensitive solutions that are truly sustainable over time."

　　Andrea Jung, Chairman and Chief Executive Officer of Avon Products Inc. commented: "It is more urgent than ever to confront this growing global challenge," she said. "With over six million Avon Representatives in more than 100 countries, Avon is the largest engine of economic opportunity for women on earth. We have seen first hand that when a woman is empowered economically, she can escape an abusive situation. Given our close personal connections with women, we feel it is our obligation and responsibility, and that we are uniquely suited, to be a committed partner in the search for innovative solutions that truly make a difference to ending the epidemic of violence against women in our lifetime."

　　The Global Partnership to End Violence Against Women is founded on the premise that local experts are best suited to know what solutions will work in their own communities. Nelson says: "The hope is that by engaging delegates who know their cultures best, we'll be able to develop and implement more sustainable programs to address this pervasive problem. The goal of The Global Partnership is to support these local teams with information, resources and funding. This will be an ongoing effort, local implementation supported by global collaboration and sharing of best practices as we gain a better understanding of what works."

　　As part of Avon's ongoing collaboration in support of this issue, Reese Witherspoon, the company's global ambassador and honorary chairperson of the Avon Foundation for Women, today announced a new Avon fundraising product -- the Women's Empowerment Ring -- that the company anticipates will raise significant funds to support local country initiatives to end violence against women. The Women's Empowerment Ring is launched as a companion piece to the Women's Empowerment Bracelet and the Women's Empowerment Necklace, launched in 2008 and 2009 respectively, which together have raised $8 million globally. The Women's Empowerment Ring, priced at $5.00, will be sold through Avon Representatives in over 45 countries and on http://www.avon.com , with 100% of net profits ($3.80 for each ring sold) going to support domestic violence programs. In the US, every Women's Empowerment product sold will include a free Domestic Violence Resource Guide to increase awareness of this epidemic of violence, provide helpful information and resources, and encourage everyone to speak out so it stops.

　　"There is nothing more important for all of us than ensuring the safety of women and girls everywhere. The problem is so pervasive, it's critical that we find ways to work together, as a global community, to combat it. I applaud this groundbreaking new Partnership, and look forward to the innovative ideas and solutions it will produce."

　　This year, Vital Voices will be celebrating the 15th anniversary of its creation at the Beijing Women's Conference where then-First Lady Hillary Clinton equated women's rights to human rights. Since then, it has developed programs to help provide safety and justice for women in more than 50 countries nationwide. The Avon Foundation for Women launched Speak Out Against Domestic Violence in 2004 to provide funding to domestic violence organizations for awareness, education, prevention programs and direct services for victims. In a few short years, Avon global philanthropy has committed more than $16 million to end violence against women.

　　To get real time updates about The Global Partnership to End Violence Against Women, visit the Avon online channels on Facebook (http://www.facebook.com/AvonProductsInc ), Twitter (http://twitter.com/avonprnewsflash ) and YouTube (http://www.youtube.com/avonproductsinc ).

　　Vital Voices
　　Vital Voices Global Partnership is a leading non-governmental organization (NGO) that identifies, trains and empowers emerging women leaders and social entrepreneurs around the globe, enabling them to create a better world for us all. Vital Voices provides these women with the capacity, connections and credibility they need to unlock their potential. The Vital Voices mission is to identify, invest in and bring visibility to extraordinary women around the world by unleashing their leadership potential to transform lives and accelerate peace and prosperity in their communities. The Vital Voices international staff and team of over 1000 partners, pro bono experts and leaders, including senior government, corporate and NGO executives, have trained and mentored more than 8,000 emerging women leaders from over 127 countries in Asia, Africa, Eurasia, Latin America and the Middle East since 1997. These women have returned home to train and mentor more than 500,000 additional women and girls in their communities.

　　Avon Products, Inc.

　　Avon (NYSE: AVP), the company for women, is a leading global beauty company, with over $10 billion in annual revenue. As the world's largest direct seller, Avon markets to women in more than 100 countries through approximately 6 million independent Avon Sales Representatives. Avon's product line includes beauty products, as well as fashion and home products, and features such well-recognized brand names as Avon Color, Anew, Skin-So-Soft, Advance Techniques, Avon Naturals, and Mark. Learn more about Avon and its products at http://www.avoncompany.com .

　　Avon Foundation for Women

　　The Avon Foundation for Women is the world's largest corporate-affiliated philanthropy focused on women's issues. Since it was founded in 1955, the Avon Foundation has been committed to the mission to improve the lives of women and their families. Now past the half century milestone, the Avon Foundation is a 501(c)(3) public charity that today brings this mission to life through two key areas of focus: breast cancer and domestic violence. Through 2009, Avon global philanthropy has donated more than $725 million in over 50 countries for causes most important to women.]]></detail>
		<source><![CDATA[SOURCE  Avon Foundation for Women]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100199611-1.html</link>
		<title>Imation Extends Commitment to ProStor Systems and RDX Removable Hard Disk Format</title>
		<author>PR Newswire Asia</author>
		
		<category>IT</category>
		
		<pubDate>Thu, 11 Mar 2010 03:37:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012749626424005c</guid>
		<description><![CDATA[Signs 10-year license extension for RDX and invests $5 million in ProStor Systems' technology


　　OAKDALE, Minn. and BOULDER, Colo., March 11 /PRNewswire-Asia/ -- Imation Corp. (NYSE: IMN), a global leader in removable data storage and a founding member of the RDX Storage Alliance, together with ProStor Systems, the leader in enterprise-class removable disk storage systems for business backup, archiving, and long-term data retention and management, today announced Imation has extended its RDX(R) license agreement with ProStor Systems. Under the terms of the agreement, Imation will have a license to manufacture, market and sell RDX removable hard disk systems through 2020. Further underscoring the company's commitment, Imation also announced that it has invested $5 million to help advance ProStor's technology.

　　"Removable hard disk storage, which addresses the need for cost-effective, scalable storage for small and medium businesses, is a fast-growing and important segment of the data storage market. The RDX system is clearly the industry standard for removable hard disk storage," said Subodh Kulkarni, chief technology officer and senior vice president of the global commercial business for Imation. "Through our extended licensing agreement with ProStor Systems, we are demonstrating our commitment to the RDX solution, and to our customers worldwide who want the combined benefits of disk and tape that RDX offers. We are enthusiastic about ProStor Systems' roadmap for RDX, and are investing in the technology to help drive the development of new RDX offerings for our customers."

　　"RDX momentum continues to grow, and Imation's long-term investment in this format is another significant milestone in the industry's adoption of RDX," said Frank Harbist, president and chief executive officer, ProStor Systems. "Leading OEMs like Dell, IBM, and HP have provided RDX-based solutions to more than 200,000 customers worldwide and that number is growing. A company like Imation, with deep technology strength based on more than 50 years in the data storage industry and extensive global distribution reach, is an excellent partner for both ProStor RDX and InfiniVault(R). We look forward to continuing to work with Imation to deliver the next generations of our RDX technology roadmap as well as other storage solutions."

　　RDX is an alternative to tape that includes a high-capacity, rugged, and removable 2.5-inch hard disk drive cartridge and a docking station with USB and SATA connections. RDX removable hard disk drive cartridges offer complete data protection with easy and reliable backup, data security, and expandable storage, and are available in 160GB, 320GB, 500GB, and 640GB capacities. The docking station and cartridges are fully forward and backward compatible. Imation's RDX system combines robust RDX technology with award-winning software to make protecting data even easier. The software installs in minutes and delivers fast backups, accurate restores, and file disaster recovery with minimal manual effort or expertise. It also features government certified 256-bit AES encryption, ensuring that sensitive data remains secure.

　　ProStor InfiniVault provides a data management and retention storage system that integrates RDX removable disk technology to provide online, offline, and offsite storage of data and images. ProStor InfiniVault's included software is able to ensure the authenticity and immutability of data while indexing, compressing, encrypting, and de-duplicating files to offer customers simplified compliance, disaster protection, and eDiscovery of data at the lowest possible cost.

　　Imation RDX and ProStor InfiniVault are available through authorized distributors. ProStor and Imation are founding members of the RDX Storage Alliance, a non-profit professional community dedicated to the open sharing of RDX Storage solutions and best practices contributed by customers and partners. For more information or to join the RDX Storage Alliance go to http://www.rdxstorage.com .

　　About Imation Corp.

　　Imation is a leading global developer and marketer of branded products that enable people to capture, save and enjoy digital information. Our world-class portfolio of digital storage products, audio and video electronics and accessories reaches customers through a powerful global distribution network. Our goal is a company with strong commercial and consumer businesses and continued long-term growth and profitability that creates shareholder value. Imation Corp.'s global brand portfolio, in addition to the Imation brand, includes the Memorex brand, one of the most widely recognized names in the consumer electronics industry, famous for the slogan, "Is it live or is it Memorex?" and the XtremeMac brand. Imation is also the exclusive licensee of the TDK Life on Record brand, one of the world's leading recording media brands. Additional information about Imation is available at http://www.imation.com .

　　About ProStor Systems

　　ProStor Systems provides industry-leading solutions for the cost-effective, long-term storage of digital information. ProStor's RDX(R) removable disk technology is sold by leading server manufacturers Dell, HP, IBM, and others who combined have shipped over 100 petabytes to 200,000 customers worldwide. ProStor InfiniVault(R) is the most cost-effective storage system for the long-term retention of data and images. ProStor InfiniVault integrates information management software, online disk, and RDX removable disk to simplify retention management while automating disaster protection and regulatory compliance. This intelligent storage system is replacing optical, tape, and disk in healthcare, document imaging, financial services, digital video archive, service provider, and government markets.

　　For more information about ProStor Systems, visit http://www.prostorsystems.com or contact the company at info@prostorsystems.com or 303-565-3100. Visit http://www.rdxstorage.com to learn more about RDX removable disk technology.

　　ProStor Systems, RDX and InfiniVault are registered trademarks of ProStor Systems, Inc. Imation, the Imation logo, Memorex, the Memorex logo, 'Is it live or is it Memorex?' and XtremeMac are trademarks of Imation Corp. and its subsidiaries. The TDK Life on Record logo is a trademark of TDK Corporation. All other trademarks are property of their respective owners.]]></description>
		<detail><![CDATA[Signs 10-year license extension for RDX and invests $5 million in ProStor Systems' technology


　　OAKDALE, Minn. and BOULDER, Colo., March 11 /PRNewswire-Asia/ -- Imation Corp. (NYSE: IMN), a global leader in removable data storage and a founding member of the RDX Storage Alliance, together with ProStor Systems, the leader in enterprise-class removable disk storage systems for business backup, archiving, and long-term data retention and management, today announced Imation has extended its RDX(R) license agreement with ProStor Systems. Under the terms of the agreement, Imation will have a license to manufacture, market and sell RDX removable hard disk systems through 2020. Further underscoring the company's commitment, Imation also announced that it has invested $5 million to help advance ProStor's technology.

　　"Removable hard disk storage, which addresses the need for cost-effective, scalable storage for small and medium businesses, is a fast-growing and important segment of the data storage market. The RDX system is clearly the industry standard for removable hard disk storage," said Subodh Kulkarni, chief technology officer and senior vice president of the global commercial business for Imation. "Through our extended licensing agreement with ProStor Systems, we are demonstrating our commitment to the RDX solution, and to our customers worldwide who want the combined benefits of disk and tape that RDX offers. We are enthusiastic about ProStor Systems' roadmap for RDX, and are investing in the technology to help drive the development of new RDX offerings for our customers."

　　"RDX momentum continues to grow, and Imation's long-term investment in this format is another significant milestone in the industry's adoption of RDX," said Frank Harbist, president and chief executive officer, ProStor Systems. "Leading OEMs like Dell, IBM, and HP have provided RDX-based solutions to more than 200,000 customers worldwide and that number is growing. A company like Imation, with deep technology strength based on more than 50 years in the data storage industry and extensive global distribution reach, is an excellent partner for both ProStor RDX and InfiniVault(R). We look forward to continuing to work with Imation to deliver the next generations of our RDX technology roadmap as well as other storage solutions."

　　RDX is an alternative to tape that includes a high-capacity, rugged, and removable 2.5-inch hard disk drive cartridge and a docking station with USB and SATA connections. RDX removable hard disk drive cartridges offer complete data protection with easy and reliable backup, data security, and expandable storage, and are available in 160GB, 320GB, 500GB, and 640GB capacities. The docking station and cartridges are fully forward and backward compatible. Imation's RDX system combines robust RDX technology with award-winning software to make protecting data even easier. The software installs in minutes and delivers fast backups, accurate restores, and file disaster recovery with minimal manual effort or expertise. It also features government certified 256-bit AES encryption, ensuring that sensitive data remains secure.

　　ProStor InfiniVault provides a data management and retention storage system that integrates RDX removable disk technology to provide online, offline, and offsite storage of data and images. ProStor InfiniVault's included software is able to ensure the authenticity and immutability of data while indexing, compressing, encrypting, and de-duplicating files to offer customers simplified compliance, disaster protection, and eDiscovery of data at the lowest possible cost.

　　Imation RDX and ProStor InfiniVault are available through authorized distributors. ProStor and Imation are founding members of the RDX Storage Alliance, a non-profit professional community dedicated to the open sharing of RDX Storage solutions and best practices contributed by customers and partners. For more information or to join the RDX Storage Alliance go to http://www.rdxstorage.com .

　　About Imation Corp.

　　Imation is a leading global developer and marketer of branded products that enable people to capture, save and enjoy digital information. Our world-class portfolio of digital storage products, audio and video electronics and accessories reaches customers through a powerful global distribution network. Our goal is a company with strong commercial and consumer businesses and continued long-term growth and profitability that creates shareholder value. Imation Corp.'s global brand portfolio, in addition to the Imation brand, includes the Memorex brand, one of the most widely recognized names in the consumer electronics industry, famous for the slogan, "Is it live or is it Memorex?" and the XtremeMac brand. Imation is also the exclusive licensee of the TDK Life on Record brand, one of the world's leading recording media brands. Additional information about Imation is available at http://www.imation.com .

　　About ProStor Systems

　　ProStor Systems provides industry-leading solutions for the cost-effective, long-term storage of digital information. ProStor's RDX(R) removable disk technology is sold by leading server manufacturers Dell, HP, IBM, and others who combined have shipped over 100 petabytes to 200,000 customers worldwide. ProStor InfiniVault(R) is the most cost-effective storage system for the long-term retention of data and images. ProStor InfiniVault integrates information management software, online disk, and RDX removable disk to simplify retention management while automating disaster protection and regulatory compliance. This intelligent storage system is replacing optical, tape, and disk in healthcare, document imaging, financial services, digital video archive, service provider, and government markets.

　　For more information about ProStor Systems, visit http://www.prostorsystems.com or contact the company at info@prostorsystems.com or 303-565-3100. Visit http://www.rdxstorage.com to learn more about RDX removable disk technology.

　　ProStor Systems, RDX and InfiniVault are registered trademarks of ProStor Systems, Inc. Imation, the Imation logo, Memorex, the Memorex logo, 'Is it live or is it Memorex?' and XtremeMac are trademarks of Imation Corp. and its subsidiaries. The TDK Life on Record logo is a trademark of TDK Corporation. All other trademarks are property of their respective owners.]]></detail>
		<source><![CDATA[SOURCE  ProStor Systems]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100199811-1.html</link>
		<title>PUMA Acquires Equipment Brand Cobra Golf   </title>
		<author>PR Newswire Asia</author>
		
		<category>Leisure/Sport</category>
		
		<pubDate>Wed, 10 Mar 2010 23:58:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012748d383270059</guid>
		<description><![CDATA[　　HERZOGENAURACH, Germany, March 10 /PRNewswire-Asia/ -- Sportlifestyle company PUMA announces today that it has signed an agreement to acquire 100 percent of the golf equipment brand Cobra Golf from Acushnet Company, the golf business of Fortune Brands, Inc. The acquisition includes the Cobra brand as well as related inventory, intellectual property and endorsement contracts and is subject to customary closing conditions and regulatory approvals.　　

　　"Through the acquisition of Cobra Golf, we reinforce PUMA's commitment to our sports performance business by strengthening our growing and successful Golf category," said Jochen Zeitz, Chairman and Chief Executive of PUMA. "Cobra Golf has a history of innovative performance products fused with an edge and is therefore a perfect fit for PUMA, reinforcing our overall mission of becoming the most desirable Sportlifestyle company. With Cobra Golf, PUMA will capitalize on the many opportunities in the Golf category and upside potential ahead of us."　　

　　Based in Carlsbad, California, Cobra Golf was founded in 1973 and produced one of the first utility clubs, the Baffler, long before use of such clubs became popular, manifesting Cobra Golf's hybrid leadership. This leadership and innovation continues today with recent releases such as the new ZL and S2 Drivers, as well as the Baffler Rail Hybrid. In 1996, Cobra Golf was acquired by American Brands Inc. (later renamed Fortune Brands) and has since then been managed together under the Acushnet Company umbrella with its other golf brands.　　

　　With this acquisition the combination of Cobra and PUMA Golf provides a competitive full range offering to become a better resource to its account base, being now in the position to provide Golf equipment next to footwear, apparel and accessories.　　

　　Pending regulatory approval, the effective date of the acquisition of Cobra Golf is expected to be in the second quarter of 2010. Financial terms of the transaction will not be disclosed.　　

　　Further information will be provided with the release of the first quarter results 2010.　　

　　PUMA　　

　　PUMA is one of the world's leading sport lifestyle companies that designs and develops footwear, apparel and accessories. It is committed to working in ways that contribute to the world by supporting Creativity, SAFE Sustainability and Peace, and by staying true to the principles of being Fair, Honest, Positive and Creative in decisions made and actions taken. PUMA starts in Sport and ends in Fashion. Its Sport Performance and Lifestyle labels include categories such as Football, Running, Motorsports, Golf and Sailing. Sport Fashion features collaborations with renowned designer labels such as Alexander McQueen, Mihara Yasuhiro and Sergio Rossi. The PUMA Group owns the brands PUMA and Tretorn. The company, which was founded in 1948, distributes its products in more than 120 countries, employs more than 9,000 people worldwide and has headquarters in Herzogenaurach/Germany, Boston, London and Hong Kong. For more information, please visit http://www.puma.com]]></description>
		<detail><![CDATA[　　HERZOGENAURACH, Germany, March 10 /PRNewswire-Asia/ -- Sportlifestyle company PUMA announces today that it has signed an agreement to acquire 100 percent of the golf equipment brand Cobra Golf from Acushnet Company, the golf business of Fortune Brands, Inc. The acquisition includes the Cobra brand as well as related inventory, intellectual property and endorsement contracts and is subject to customary closing conditions and regulatory approvals.　　

　　"Through the acquisition of Cobra Golf, we reinforce PUMA's commitment to our sports performance business by strengthening our growing and successful Golf category," said Jochen Zeitz, Chairman and Chief Executive of PUMA. "Cobra Golf has a history of innovative performance products fused with an edge and is therefore a perfect fit for PUMA, reinforcing our overall mission of becoming the most desirable Sportlifestyle company. With Cobra Golf, PUMA will capitalize on the many opportunities in the Golf category and upside potential ahead of us."　　

　　Based in Carlsbad, California, Cobra Golf was founded in 1973 and produced one of the first utility clubs, the Baffler, long before use of such clubs became popular, manifesting Cobra Golf's hybrid leadership. This leadership and innovation continues today with recent releases such as the new ZL and S2 Drivers, as well as the Baffler Rail Hybrid. In 1996, Cobra Golf was acquired by American Brands Inc. (later renamed Fortune Brands) and has since then been managed together under the Acushnet Company umbrella with its other golf brands.　　

　　With this acquisition the combination of Cobra and PUMA Golf provides a competitive full range offering to become a better resource to its account base, being now in the position to provide Golf equipment next to footwear, apparel and accessories.　　

　　Pending regulatory approval, the effective date of the acquisition of Cobra Golf is expected to be in the second quarter of 2010. Financial terms of the transaction will not be disclosed.　　

　　Further information will be provided with the release of the first quarter results 2010.　　

　　PUMA　　

　　PUMA is one of the world's leading sport lifestyle companies that designs and develops footwear, apparel and accessories. It is committed to working in ways that contribute to the world by supporting Creativity, SAFE Sustainability and Peace, and by staying true to the principles of being Fair, Honest, Positive and Creative in decisions made and actions taken. PUMA starts in Sport and ends in Fashion. Its Sport Performance and Lifestyle labels include categories such as Football, Running, Motorsports, Golf and Sailing. Sport Fashion features collaborations with renowned designer labels such as Alexander McQueen, Mihara Yasuhiro and Sergio Rossi. The PUMA Group owns the brands PUMA and Tretorn. The company, which was founded in 1948, distributes its products in more than 120 countries, employs more than 9,000 people worldwide and has headquarters in Herzogenaurach/Germany, Boston, London and Hong Kong. For more information, please visit http://www.puma.com]]></detail>
		<source><![CDATA[SOURCE  PUMA]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100199711-1.html</link>
		<title>Quantcast Goes Global With Local Audience Insights</title>
		<author>PR Newswire Asia</author>
		
		<category>AD/Marketing/Media</category>
		
		<category>IT</category>
		
		<pubDate>Wed, 10 Mar 2010 23:05:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec0127489a59470056</guid>
		<description><![CDATA[　　World's Favorite Audience Measurement Solution Now Delivers Country Specific Data

　　SAN FRANCISCO, March 10 /PRNewswire-Asia/ -- Quantcast announced today that it now delivers audience insights localized for every country around the globe to support its burgeoning slate of international publishers and marketers. Quantcast audience measurement provides web site owners with accurate, directly measured traffic, demographic, lifestyle, business and geographic audience data. Best of all, Quantcast audience measurement is completely free. By providing the marketplace with unparalleled audience insights, Quantcast enables publishers to better represent their unique audiences and empowers advertisers to reach specific online consumers with accuracy and scale.

　　(PHOTO: http://www.newscom.com/cgi-bin/prnh/20100310/NY68154 )

　　Quantcast provides comprehensive audience measurement for web sites, videos, widgets, games and more, with flexible options for understanding distributed/syndicated content and even networks that combine multiple individual properties. Standard integration is offered for numerous content, video and ad serving platforms Adobe Flash and Open Source Media Framework, Microsoft Silverlight, Brightcove, Freewheel, Auditude, LiveRail, Visible Measures, WebTrends, PointRoll, Atlas, Doubleclick, and many more.

　　"The rapid pace of change in the global media industry necessitates a new approach to audience measurement and enablement," said Konrad Feldman, co-founder and CEO Quantcast. "We're very proud of the support Quantcast has received from publishers and marketers around the world, and we're thrilled to offer country specific audience data to drive the industry's transformation to real-time content discovery and personalization."

　　Since its launch in late 2006, Quantcast has rapidly grown and, today, provides audience insights for tens of millions of web destinations around the world. From global media leaders to individual blogs, when it comes to audience data, the world's digital community turns to Quantcast. Global, and local, media leaders and web pioneers use Quantcast including MTV Networks, Bloomberg, The Economist, Reuters, IAC, BBC, Time Inc., NBC Universal, Discovery Communications, TypePad, WordPress, Dailymotion, Metacafe, Hi5, Netlog, Demand Media and LinkedIn.

　　About Quantcast

　　Quantcast measures and organizes the world's audiences in real-time so advertisers can buy, sell and connect with the people who matter most to them. Ranked Fast Company's # 3 Most Innovative Company on the Web for 2010, the company is used by the top 10 media agencies in the US, the world's largest brands and more than half of the top advertising supported publishers. Quantcast connects the planning, buying, and media fulfillment processes, delivering the marketplace's most consistent and accountable audiences. Launched in 2006, Quantcast is headquartered in San Francisco and backed by Founders Fund, Polaris Venture Partners, Revolution Ventures and Cisco Systems. Come Get Quantified(TM) at http://www.quantcast.com .]]></description>
		<detail><![CDATA[　　World's Favorite Audience Measurement Solution Now Delivers Country Specific Data

　　SAN FRANCISCO, March 10 /PRNewswire-Asia/ -- Quantcast announced today that it now delivers audience insights localized for every country around the globe to support its burgeoning slate of international publishers and marketers. Quantcast audience measurement provides web site owners with accurate, directly measured traffic, demographic, lifestyle, business and geographic audience data. Best of all, Quantcast audience measurement is completely free. By providing the marketplace with unparalleled audience insights, Quantcast enables publishers to better represent their unique audiences and empowers advertisers to reach specific online consumers with accuracy and scale.

　　(PHOTO: http://www.newscom.com/cgi-bin/prnh/20100310/NY68154 )

　　Quantcast provides comprehensive audience measurement for web sites, videos, widgets, games and more, with flexible options for understanding distributed/syndicated content and even networks that combine multiple individual properties. Standard integration is offered for numerous content, video and ad serving platforms Adobe Flash and Open Source Media Framework, Microsoft Silverlight, Brightcove, Freewheel, Auditude, LiveRail, Visible Measures, WebTrends, PointRoll, Atlas, Doubleclick, and many more.

　　"The rapid pace of change in the global media industry necessitates a new approach to audience measurement and enablement," said Konrad Feldman, co-founder and CEO Quantcast. "We're very proud of the support Quantcast has received from publishers and marketers around the world, and we're thrilled to offer country specific audience data to drive the industry's transformation to real-time content discovery and personalization."

　　Since its launch in late 2006, Quantcast has rapidly grown and, today, provides audience insights for tens of millions of web destinations around the world. From global media leaders to individual blogs, when it comes to audience data, the world's digital community turns to Quantcast. Global, and local, media leaders and web pioneers use Quantcast including MTV Networks, Bloomberg, The Economist, Reuters, IAC, BBC, Time Inc., NBC Universal, Discovery Communications, TypePad, WordPress, Dailymotion, Metacafe, Hi5, Netlog, Demand Media and LinkedIn.

　　About Quantcast

　　Quantcast measures and organizes the world's audiences in real-time so advertisers can buy, sell and connect with the people who matter most to them. Ranked Fast Company's # 3 Most Innovative Company on the Web for 2010, the company is used by the top 10 media agencies in the US, the world's largest brands and more than half of the top advertising supported publishers. Quantcast connects the planning, buying, and media fulfillment processes, delivering the marketplace's most consistent and accountable audiences. Launched in 2006, Quantcast is headquartered in San Francisco and backed by Founders Fund, Polaris Venture Partners, Revolution Ventures and Cisco Systems. Come Get Quantified(TM) at http://www.quantcast.com .]]></detail>
		<source><![CDATA[SOURCE  Quantcast]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100196311-1.html</link>
		<title>Frbiz Analyzes that 2010 Will See a Shortage of LEDs</title>
		<author>PR Newswire Asia</author>
		
		<category>IT</category>
		
		<pubDate>Wed, 10 Mar 2010 23:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec0127470129520032</guid>
		<description><![CDATA[　　BEIJING, March 10 /PRNewswire-Asia/ -- Frbiz.com, one of China's leading B2B search platforms, analyzes that 2010's LED market will see a distance shortage.
　　In 2010 the global LED market is facing a shortage of supply, and the end of the year may see a serious shortage of supply, unless production capacity is raised.
　　In 2009 the overall LED consumption level reached 63 billion, which is higher than 2008's 57 billion. LED market revenue is about 6.8 billion U.S. dollars, which increased 11.4% over 2008. As the sharp increase in consumption last year shows, many LED manufactures are already at close to 100% capacity.
　　Demand is clearly exceeding supply, and the LED market, at least the next three years, will maintain double-digit growth. Frbiz forecasts this year may therefore see a serious shortage of supply, unless additional capacity is able to meet growing demand.
　　2010's shortfall is expected to be influenced by large-screen LCD TV backlight LEDs. From a demand perspective, the shortfall stems from a strong consumer demand, because LED backlight LCD are becoming increasingly popular. On the supply side, TV manufacturers are actively increasing the sale of LED-backlight TVs.
　　Laptop usually use around 50 LEDs, while monitors use about 100 LEDs, and LCD TVs use an average of 300-500 LEDs. In addition, because the LED backlight LCD TVs demand is consistently high, LED shortages are likely a primary affect of LED TV panels.
　　LED backlighting is currently widely used as a device, not only in television or computer monitors' large-size LCDs, but also for a variety of equipment with smaller LCDs, including laptops, mobile phones, portable navigation devices, digital photo frames, digital cameras and keyboards.
　　In addition, LED solution projects in general have seen increased usage, for residential, commercial and industrial lighting applications. Although, the general LED lighting market is still at an early stage of development, it will over the next two years become the mainstream in the market.

　　About Frbiz.com
　　Frbiz.com is a promising e-commerce company and a leading vertical search engine company in China. Frbiz.com offers a variety of high quality products such as vinyl cutters ( http://www.frbiz.com/q-vinyl_cutter/ ), tile cutters ( http://www.frbiz.com/q-tile_cutter/ ), cisco 2950 
( http://www.frbiz.com/q-cisco_2950/ ) and many more.

　　For more information, please contact: 

　　 Frbiz.com
　　 Tel:   +86-10-6556-9770
　　 Email: my@frbiz.com ]]></description>
		<detail><![CDATA[　　BEIJING, March 10 /PRNewswire-Asia/ -- Frbiz.com, one of China's leading B2B search platforms, analyzes that 2010's LED market will see a distance shortage.
　　In 2010 the global LED market is facing a shortage of supply, and the end of the year may see a serious shortage of supply, unless production capacity is raised.
　　In 2009 the overall LED consumption level reached 63 billion, which is higher than 2008's 57 billion. LED market revenue is about 6.8 billion U.S. dollars, which increased 11.4% over 2008. As the sharp increase in consumption last year shows, many LED manufactures are already at close to 100% capacity.
　　Demand is clearly exceeding supply, and the LED market, at least the next three years, will maintain double-digit growth. Frbiz forecasts this year may therefore see a serious shortage of supply, unless additional capacity is able to meet growing demand.
　　2010's shortfall is expected to be influenced by large-screen LCD TV backlight LEDs. From a demand perspective, the shortfall stems from a strong consumer demand, because LED backlight LCD are becoming increasingly popular. On the supply side, TV manufacturers are actively increasing the sale of LED-backlight TVs.
　　Laptop usually use around 50 LEDs, while monitors use about 100 LEDs, and LCD TVs use an average of 300-500 LEDs. In addition, because the LED backlight LCD TVs demand is consistently high, LED shortages are likely a primary affect of LED TV panels.
　　LED backlighting is currently widely used as a device, not only in television or computer monitors' large-size LCDs, but also for a variety of equipment with smaller LCDs, including laptops, mobile phones, portable navigation devices, digital photo frames, digital cameras and keyboards.
　　In addition, LED solution projects in general have seen increased usage, for residential, commercial and industrial lighting applications. Although, the general LED lighting market is still at an early stage of development, it will over the next two years become the mainstream in the market.

　　About Frbiz.com
　　Frbiz.com is a promising e-commerce company and a leading vertical search engine company in China. Frbiz.com offers a variety of high quality products such as vinyl cutters ( http://www.frbiz.com/q-vinyl_cutter/ ), tile cutters ( http://www.frbiz.com/q-tile_cutter/ ), cisco 2950 
( http://www.frbiz.com/q-cisco_2950/ ) and many more.

　　For more information, please contact: 

　　 Frbiz.com
　　 Tel:   +86-10-6556-9770
　　 Email: my@frbiz.com ]]></detail>
		<source><![CDATA[SOURCE  Frbiz.com]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100196411-1.html</link>
		<title>Himfr Forecasts 2010's Sanitary Ware Fashion Trend</title>
		<author>PR Newswire Asia</author>
		
		<category>Finance</category>
		
		<pubDate>Wed, 10 Mar 2010 23:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012746f3fe95002f</guid>
		<description><![CDATA[　　BEIJING, March 10 /PRNewswire-Asia/ -- Himfr.com, one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, forecasts 2010's sanitary ware fashion trend.

　　Sanitary Ware: Intelligent and Comfortable
　　Himfr analyzes that this year's sanitary product development trend is mainly on intelligent, classic and human-based products. 
　　Infrared sauna rooms, smart thermostat baths, massage tubs, massage shower s, multi-functional intelligent sanitary toilets, and other intelligent products, will attract a lot of smart consumers. Technology is advancing; this year sanitary ware products will gradually integrate a number of scientific and technological content, as consumers will no doubt bring more comfort and enjoyment into their new bathrooms.

　　Kitchen: Feature-rich
　　Restaurants and kitchens have always been the key for decoration. This year cupboards will be enriched. With the "Life in the kitchen" concept gaining in popularity, the modern kitchen design shows a user-friendly trend. Himfr learned that garbage collection, vegetables and pesticide degradation, all-round tableware disinfection, magnetic seasoning cans, insulation home cooking, integrated environmental stoves, range hood, oil spill alarms, embedded table designs and the ventilation systems in multi-function cabinets will be the 2010 trend of the overall trend of kitchens.

　　Ceramic Tile: Personalized
　　Although the different styles of ceramic tile decoration have obvious differences, the design, color, and stone are the three main directions. 2010's most popular is pristine matt and retro brick. The polished tile is also a favourite of builders and decorators. Himfr believes that today's ceramic tile consumer market is a personalized product market, which not only meets customer demand for space availability, but also more importantly, to satisfy customers in the pursuit of personality.

　　About Himfr.com
　　Himfr.com is a promising e-commerce company and a leading vertical search engine company in China. Himfr.com offers a variety of high quality products such as meat grinders ( http://www.himfr.com/buy-meat_grinders/ ), canon photocopiers ( http://www.himfr.com/buy-canon_photocopier/ ), korg triton ( http://www.himfr.com/buy-korg_triton/ ) and many more.

　　For more information, please contact: 

　　 Himfr.com
　　 Tel:   +86-10-6556-9770
　　 Email: my@himfr.com ]]></description>
		<detail><![CDATA[　　BEIJING, March 10 /PRNewswire-Asia/ -- Himfr.com, one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, forecasts 2010's sanitary ware fashion trend.

　　Sanitary Ware: Intelligent and Comfortable
　　Himfr analyzes that this year's sanitary product development trend is mainly on intelligent, classic and human-based products. 
　　Infrared sauna rooms, smart thermostat baths, massage tubs, massage shower s, multi-functional intelligent sanitary toilets, and other intelligent products, will attract a lot of smart consumers. Technology is advancing; this year sanitary ware products will gradually integrate a number of scientific and technological content, as consumers will no doubt bring more comfort and enjoyment into their new bathrooms.

　　Kitchen: Feature-rich
　　Restaurants and kitchens have always been the key for decoration. This year cupboards will be enriched. With the "Life in the kitchen" concept gaining in popularity, the modern kitchen design shows a user-friendly trend. Himfr learned that garbage collection, vegetables and pesticide degradation, all-round tableware disinfection, magnetic seasoning cans, insulation home cooking, integrated environmental stoves, range hood, oil spill alarms, embedded table designs and the ventilation systems in multi-function cabinets will be the 2010 trend of the overall trend of kitchens.

　　Ceramic Tile: Personalized
　　Although the different styles of ceramic tile decoration have obvious differences, the design, color, and stone are the three main directions. 2010's most popular is pristine matt and retro brick. The polished tile is also a favourite of builders and decorators. Himfr believes that today's ceramic tile consumer market is a personalized product market, which not only meets customer demand for space availability, but also more importantly, to satisfy customers in the pursuit of personality.

　　About Himfr.com
　　Himfr.com is a promising e-commerce company and a leading vertical search engine company in China. Himfr.com offers a variety of high quality products such as meat grinders ( http://www.himfr.com/buy-meat_grinders/ ), canon photocopiers ( http://www.himfr.com/buy-canon_photocopier/ ), korg triton ( http://www.himfr.com/buy-korg_triton/ ) and many more.

　　For more information, please contact: 

　　 Himfr.com
　　 Tel:   +86-10-6556-9770
　　 Email: my@himfr.com ]]></detail>
		<source><![CDATA[SOURCE  Himfr.com]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100199411-1.html</link>
		<title>American Lorain Announces Engagement of RedChip Companies to Lead Investor Relations</title>
		<author>PR Newswire Asia</author>
		
		<category>Food/Beverages/Retail</category>
		
		<pubDate>Wed, 10 Mar 2010 22:43:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012748876ba40055</guid>
		<description><![CDATA[　　JUNAN COUNTY, China, March 10 /PRNewswire-Asia/ -- American Lorain Corporation (NYSE Amex: ALN) ("American Lorain" or the "Company"), an international, processed-foods company based in Shandong Province, People's Republic of China ("PRC"), today announced that it has engaged RedChip Companies, Inc. to lead its investor relations programs.

　　"RedChip is clearly one of the top investor relations firms working in the China small-cap sector," said Mr. Si Chen, Chairman and Chief Executive Officer of American Lorain. "We look forward to our relationship with RedChip.  They are the firm of choice in helping us build our institutional and retail investor base," Mr. Chen added.

　　Dave Gentry, president and CEO of RedChip Companies welcomed American Lorain's decision to engage RedChip. 

　　"We are very pleased for the opportunity to represent American Lorain," said Dave Gentry. They are at an exciting juncture in their business. They are implementing a number of growth and expansion strategies and deserve a higher valuation in the marketplace." 

　　About American Lorain Corporation

　　American Lorain Corporation is a Nevada corporation that develops, manufactures and sells various food products. The Company's products include chestnut products, convenience food products and frozen food products. The Company currently sells over 234 products to 26 provinces and administrative regions in China as well as to 42 foreign countries. The Company operates through its four direct and indirect subsidiaries and one leased factory located in China. For further information about American Lorain Corporation, please visit the Company's website at http://www.americanlorain.com .

　　Forward-looking statements:

　　Statements contained herein that relate to the Company's future performance, including statements with respect to forecasted revenues, margins, cash generation and capital expenditures are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance or achievements to differ materially from those anticipated. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Among the factors that could cause actual results to materially differ include: general business and economic conditions, particularly the current downturn in the worldwide economy; our ability to obtain adequate supplies of raw materials; our ability to manage our expansion strategy; changes in foreign currency exchange rates; government regulation; difficulties in new product development; changing consumer tastes in disparate markets worldwide and our ability to address those changes; our ability to attract and retain highly qualified personnel; and other factors affecting our operations that are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

　　For more information, please contact:

　　At the Company:

　　American Lorain Corp.
　　 Mr. Alan Jin, CFO
　　 Phone: +86-21-6145-3891
　　 Email: alanjin@americanlorain.com
　　 Web:   http://www.americanlorain.com

　　Investor Relations:
　　 RedChip Companies, Inc.
　　 Alex Nachman
　　 Phone: +1-800-733-2447 x118
　　　　　　+1-407-644-4256 x118
　　 Email: info@redchip.com
　　 Web:   http://www.RedChip.com  ]]></description>
		<detail><![CDATA[　　JUNAN COUNTY, China, March 10 /PRNewswire-Asia/ -- American Lorain Corporation (NYSE Amex: ALN) ("American Lorain" or the "Company"), an international, processed-foods company based in Shandong Province, People's Republic of China ("PRC"), today announced that it has engaged RedChip Companies, Inc. to lead its investor relations programs.

　　"RedChip is clearly one of the top investor relations firms working in the China small-cap sector," said Mr. Si Chen, Chairman and Chief Executive Officer of American Lorain. "We look forward to our relationship with RedChip.  They are the firm of choice in helping us build our institutional and retail investor base," Mr. Chen added.

　　Dave Gentry, president and CEO of RedChip Companies welcomed American Lorain's decision to engage RedChip. 

　　"We are very pleased for the opportunity to represent American Lorain," said Dave Gentry. They are at an exciting juncture in their business. They are implementing a number of growth and expansion strategies and deserve a higher valuation in the marketplace." 

　　About American Lorain Corporation

　　American Lorain Corporation is a Nevada corporation that develops, manufactures and sells various food products. The Company's products include chestnut products, convenience food products and frozen food products. The Company currently sells over 234 products to 26 provinces and administrative regions in China as well as to 42 foreign countries. The Company operates through its four direct and indirect subsidiaries and one leased factory located in China. For further information about American Lorain Corporation, please visit the Company's website at http://www.americanlorain.com .

　　Forward-looking statements:

　　Statements contained herein that relate to the Company's future performance, including statements with respect to forecasted revenues, margins, cash generation and capital expenditures are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance or achievements to differ materially from those anticipated. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Among the factors that could cause actual results to materially differ include: general business and economic conditions, particularly the current downturn in the worldwide economy; our ability to obtain adequate supplies of raw materials; our ability to manage our expansion strategy; changes in foreign currency exchange rates; government regulation; difficulties in new product development; changing consumer tastes in disparate markets worldwide and our ability to address those changes; our ability to attract and retain highly qualified personnel; and other factors affecting our operations that are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

　　For more information, please contact:

　　At the Company:

　　American Lorain Corp.
　　 Mr. Alan Jin, CFO
　　 Phone: +86-21-6145-3891
　　 Email: alanjin@americanlorain.com
　　 Web:   http://www.americanlorain.com

　　Investor Relations:
　　 RedChip Companies, Inc.
　　 Alex Nachman
　　 Phone: +1-800-733-2447 x118
　　　　　　+1-407-644-4256 x118
　　 Email: info@redchip.com
　　 Web:   http://www.RedChip.com  ]]></detail>
		<source><![CDATA[SOURCE  American Lorain Corporation]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100196011-1.html</link>
		<title>TradeTang.com New CEO Vows to Strengthen Product Censorship and Fraud Control</title>
		<author>PR Newswire Asia</author>
		
		<category>General</category>
		
		<pubDate>Wed, 10 Mar 2010 22:35:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012746fe4eb90031</guid>
		<description><![CDATA[　　BEIJING, March 10 /PRNewswire-Asia/ -- In the wake of the global financial crisis, TradeTang.com's new-in-office CEO, Soullivan Cheng, expressed his confidence in the future of China's wholesale industry and the development of TradeTang.com ( http://www.tradetang.com ). Acknowledging the pressure that fierce competition within the industry has had on quality control, Mr. Cheng reaffirmed TradeTang.com's commitment to strengthen product censorship and fraud control through initiatives such as the company's Ocean Shipping and Gift Ideas programs. 

　　"The number of products and suppliers available on TradeTang.com is growing at speed unprecedented in the history of China's trading industry," stated Cheng, "As such, we reaffirm our commitment to quality control and vetting suppliers in order to protect our customers and provide them with an optimal online marketplace."

　　With an established reputation in the industry, CEO Soullivan Cheng brings to TradeTang.com a wealth of relevant experience. He has also pushed to the forefront TradeTang.com's zero-tolerance policy concerning fraud and false advertising. Mr. Cheng also wishes to assure suppliers listing on the website that this move will be beneficial to both buyers and sellers by promoting a safe online marketplace.

　　"As one of the leading wholesale websites in the world, TradeTang.com's low prices are one of its main competitive advantages. What consumers may not know about our company is that we also place great emphasis on product quality and fraud-prevention, and we have recently taken great efforts to crack down on violators of our terms of use. At TradeTang.com, we are committed to providing a safe online platform for trade, both now and in the future," Soullivan Cheng remarked.

　　Surveys have shown that China, often regarded as the factory of the world, is a rising star in the global wholesale industry. While the prices of Chinese-produced products are competitive, finding an honest and reliable supplier has often been a concern among overseas purchasers. TradeTang.com aims to solve this problem for customers by policing listed suppliers and weeding out scam artists and fraudulent material. TradeTang.com has recovered from hacker attacks that occurred in September of 2009, and after much technological reinforcement, is a safer-than-ever online marketplace for consumers around the globe.

　　About TradeTang.com 

　　Founded in 2007 with just 10 employees, TradeTang.com has grown to a company of more than 150 today. On TradeTang.com, customers from around the globe can connect with suppliers of all kinds of products from the convenience of their own homes. For more information, please visit the company's website: http://www.TradeTang.com .

　　For more information, please contact:

　　 Miss Rebecca
　　 Tel:　　 +86-10-6550-5020 x8029
　　 Email:   Rebecca@tradetang.com

]]></description>
		<detail><![CDATA[　　BEIJING, March 10 /PRNewswire-Asia/ -- In the wake of the global financial crisis, TradeTang.com's new-in-office CEO, Soullivan Cheng, expressed his confidence in the future of China's wholesale industry and the development of TradeTang.com ( http://www.tradetang.com ). Acknowledging the pressure that fierce competition within the industry has had on quality control, Mr. Cheng reaffirmed TradeTang.com's commitment to strengthen product censorship and fraud control through initiatives such as the company's Ocean Shipping and Gift Ideas programs. 

　　"The number of products and suppliers available on TradeTang.com is growing at speed unprecedented in the history of China's trading industry," stated Cheng, "As such, we reaffirm our commitment to quality control and vetting suppliers in order to protect our customers and provide them with an optimal online marketplace."

　　With an established reputation in the industry, CEO Soullivan Cheng brings to TradeTang.com a wealth of relevant experience. He has also pushed to the forefront TradeTang.com's zero-tolerance policy concerning fraud and false advertising. Mr. Cheng also wishes to assure suppliers listing on the website that this move will be beneficial to both buyers and sellers by promoting a safe online marketplace.

　　"As one of the leading wholesale websites in the world, TradeTang.com's low prices are one of its main competitive advantages. What consumers may not know about our company is that we also place great emphasis on product quality and fraud-prevention, and we have recently taken great efforts to crack down on violators of our terms of use. At TradeTang.com, we are committed to providing a safe online platform for trade, both now and in the future," Soullivan Cheng remarked.

　　Surveys have shown that China, often regarded as the factory of the world, is a rising star in the global wholesale industry. While the prices of Chinese-produced products are competitive, finding an honest and reliable supplier has often been a concern among overseas purchasers. TradeTang.com aims to solve this problem for customers by policing listed suppliers and weeding out scam artists and fraudulent material. TradeTang.com has recovered from hacker attacks that occurred in September of 2009, and after much technological reinforcement, is a safer-than-ever online marketplace for consumers around the globe.

　　About TradeTang.com 

　　Founded in 2007 with just 10 employees, TradeTang.com has grown to a company of more than 150 today. On TradeTang.com, customers from around the globe can connect with suppliers of all kinds of products from the convenience of their own homes. For more information, please visit the company's website: http://www.TradeTang.com .

　　For more information, please contact:

　　 Miss Rebecca
　　 Tel:　　 +86-10-6550-5020 x8029
　　 Email:   Rebecca@tradetang.com

]]></detail>
		<source><![CDATA[SOURCE  TradeTang.com]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100199311-1.html</link>
		<title>Longwei Petroleum Investment Holding to Present at the March 2010 RedChip New York Equities Growth Conference</title>
		<author>PR Newswire Asia</author>
		
		<category>Energy/Natural Sources </category>
		
		<category>Finance</category>
		
		<pubDate>Wed, 10 Mar 2010 22:18:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec01274870c4d50054</guid>
		<description><![CDATA[　　TAIYUAN CITY, China, March 10 /PRNewswire-Asia/ -- Longwei Petroleum Investment Holding Ltd. (OTC Bulletin Board: LPIH; "Longwei" or the "Company"), a company who transports, markets and sells finished petroleum products in the People's Republic of China, today announced that Chief Financial Officer James Crane is scheduled to present at the 2010 RedChip New York Equities Growth Conference being held March 23-24 in New York City. The Company's presentation is scheduled for 10:30 a.m. EDT on Tuesday, March 23, 2010 at the NASDAQ Market Site (4 Times Square).

　　Mr. Crane will discuss Longwei's financial performance, guidance for the full fiscal year 2010 and fiscal 2011, and provide an operational update on the new oil depot at Gujiao City. 

　　Company presentations will be webcast live via http://www.RedChip.com and archived for 90 days. 

　　RedChip investor conferences are a nationally known forum for emerging growth companies to present their stories before hundreds of investment bankers, fund managers, institutional and accredited investors, and research analysts. For this event, RedChip brings together leading investors, market leaders, and high-growth companies for two full days of dynamic presentations and Q&amp;A sessions by CEOs and executive teams.

　　For additional information or to schedule a one-on-one meeting with the Company at this event, please contact Jon Cunningham at 407-644-4256, Ext. 107, or email conference@redchip.com. 

　　About Longwei Petroleum Investment Holding Limited

　　Longwei Petroleum Investment Holding, Limited (http://www.longweipetroleum.com) is an energy company that, through its subsidiaries, engages in oil and gas operations in the People's Republic of China ("PRC"). Oil and gas operations consist of transporting, marketing and selling finished petroleum products. The Company's headquarters and primary facilities are located in Taiyuan City, Shanxi Province ("Shanxi"). The Company's second facility is located in Gujiao, Shanxi. The Company purchases diesel, gasoline, fuel oil and kerosene (the "Products") from various petroleum refineries in the PRC. The Company is 1 of 3 licensed intermediaries in Taiyuan City and the sole licensed intermediary in Gujiao that operates its own large scale storage tanks. The Company has the necessary licenses to operate and sell Products not only in Shanxi but throughout the entire PRC. The Company's storage tanks have the largest storage capacity of any non-government operated entity in Shanxi. The Company seeks to earn profits by selling its Products at competitive prices to large-scale gas stations, coal plants, other power-supply customers and small, independent gas stations. The Company also earns revenue by acting as a purchasing agent for other intermediaries in Shanxi and through the sale of diesel and gasoline at gas stations located at each of the Company's facilities. The sales price and the cost basis of the Company's products are largely dependent on the price of crude oil. The price of crude oil is subject to fluctuation due to a variety of factors, all of which are beyond the Company's control. 

　　About RedChip Companies, Inc.

　　RedChip Companies is an international, small-cap research and financial public relations firm headquartered in Orlando, Florida; with affiliate offices in Beijing, China; Paris, France; and Seoul, Korea. Since 1993, RedChip has been a source for small-cap research and investor awareness services for emerging growth companies, delivering concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp .

　　"Discovering Tomorrow's Blue Chips Today"(TM)

　　For more information, please contact: 

　　Investor Relations:

　　 Dave Gentry 
　　 RedChip Companies, Inc. 
　　 Tel: +1-407-644-4256 x104

　　 Jon Cunningham 
　　 RedChip Companies, Inc. 
　　 Tel:   +1-407-644-4256 x107 
　　 Email: info@redchip.com
　　 Web:   http://www.RedChip.com

　　 James Crane, Chief Financial Officer
　　 Longwei Petroleum Investment Holding Ltd.
　　 U.S.:   +1-617-699-6325
　　 P.R.C.: +86-186-0125-0891
　　 Web:　　http://www.longweipetroleum.com ]]></description>
		<detail><![CDATA[　　TAIYUAN CITY, China, March 10 /PRNewswire-Asia/ -- Longwei Petroleum Investment Holding Ltd. (OTC Bulletin Board: LPIH; "Longwei" or the "Company"), a company who transports, markets and sells finished petroleum products in the People's Republic of China, today announced that Chief Financial Officer James Crane is scheduled to present at the 2010 RedChip New York Equities Growth Conference being held March 23-24 in New York City. The Company's presentation is scheduled for 10:30 a.m. EDT on Tuesday, March 23, 2010 at the NASDAQ Market Site (4 Times Square).

　　Mr. Crane will discuss Longwei's financial performance, guidance for the full fiscal year 2010 and fiscal 2011, and provide an operational update on the new oil depot at Gujiao City. 

　　Company presentations will be webcast live via http://www.RedChip.com and archived for 90 days. 

　　RedChip investor conferences are a nationally known forum for emerging growth companies to present their stories before hundreds of investment bankers, fund managers, institutional and accredited investors, and research analysts. For this event, RedChip brings together leading investors, market leaders, and high-growth companies for two full days of dynamic presentations and Q&amp;A sessions by CEOs and executive teams.

　　For additional information or to schedule a one-on-one meeting with the Company at this event, please contact Jon Cunningham at 407-644-4256, Ext. 107, or email conference@redchip.com. 

　　About Longwei Petroleum Investment Holding Limited

　　Longwei Petroleum Investment Holding, Limited (http://www.longweipetroleum.com) is an energy company that, through its subsidiaries, engages in oil and gas operations in the People's Republic of China ("PRC"). Oil and gas operations consist of transporting, marketing and selling finished petroleum products. The Company's headquarters and primary facilities are located in Taiyuan City, Shanxi Province ("Shanxi"). The Company's second facility is located in Gujiao, Shanxi. The Company purchases diesel, gasoline, fuel oil and kerosene (the "Products") from various petroleum refineries in the PRC. The Company is 1 of 3 licensed intermediaries in Taiyuan City and the sole licensed intermediary in Gujiao that operates its own large scale storage tanks. The Company has the necessary licenses to operate and sell Products not only in Shanxi but throughout the entire PRC. The Company's storage tanks have the largest storage capacity of any non-government operated entity in Shanxi. The Company seeks to earn profits by selling its Products at competitive prices to large-scale gas stations, coal plants, other power-supply customers and small, independent gas stations. The Company also earns revenue by acting as a purchasing agent for other intermediaries in Shanxi and through the sale of diesel and gasoline at gas stations located at each of the Company's facilities. The sales price and the cost basis of the Company's products are largely dependent on the price of crude oil. The price of crude oil is subject to fluctuation due to a variety of factors, all of which are beyond the Company's control. 

　　About RedChip Companies, Inc.

　　RedChip Companies is an international, small-cap research and financial public relations firm headquartered in Orlando, Florida; with affiliate offices in Beijing, China; Paris, France; and Seoul, Korea. Since 1993, RedChip has been a source for small-cap research and investor awareness services for emerging growth companies, delivering concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp .

　　"Discovering Tomorrow's Blue Chips Today"(TM)

　　For more information, please contact: 

　　Investor Relations:

　　 Dave Gentry 
　　 RedChip Companies, Inc. 
　　 Tel: +1-407-644-4256 x104

　　 Jon Cunningham 
　　 RedChip Companies, Inc. 
　　 Tel:   +1-407-644-4256 x107 
　　 Email: info@redchip.com
　　 Web:   http://www.RedChip.com

　　 James Crane, Chief Financial Officer
　　 Longwei Petroleum Investment Holding Ltd.
　　 U.S.:   +1-617-699-6325
　　 P.R.C.: +86-186-0125-0891
　　 Web:　　http://www.longweipetroleum.com ]]></detail>
		<source><![CDATA[SOURCE  Longwei Petroleum Investment Holding Limited]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100199211-1.html</link>
		<title>Xinyuan Real Estate Co., Ltd. Limited Announces Participation in Roth OC Growth Stock Conference</title>
		<author>PR Newswire Asia</author>
		
		<category>Real Estate/Construction</category>
		
		<pubDate>Wed, 10 Mar 2010 22:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012748583d330052</guid>
		<description><![CDATA[　　BEIJING, March 10 /PRNewswire-Asia/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a focus on high growth, strategic Tier II cities in China, today announced the Company's participation in the 22nd Annual Roth OC Growth Stock Conference, to be held March 15-17, 2010 at the Ritz Carlton in Dana Point, CA. Management's participation will consist of a presentation scheduled for 1:30 pm local time on Tuesday, March 16th and one-on-one meetings with investors. 

　　Institutional investors interested in meeting the Company at this event should contact their Roth institutional sales representative or the individual company representatives listed below at the bottom of the press release.

　　About Xinyuan Real Estate Co., Ltd.

　　Xinyuan Real Estate Co., Ltd. ("Xinyuan") (NYSE: XIN) is a developer of large scale, high quality residential real estate projects aimed at providing middle-income consumers with a comfortable and convenient community lifestyle. Xinyuan focuses on China's Tier II cities, characterized as larger, more developed urban areas with above average GDP and population growth rates. Xinyuan has expanded its network to cover a total population of over 44.7 million people in seven strategically selected Tier II cities, comprising Hefei, Jinan, Kunshan, Suzhou, Zhengzhou, Xuzhou and Chengdu. Xinyuan is the first real estate developer from China to be listed on the New York Stock Exchange. For more information, please visit http://www.xyre.com .]]></description>
		<detail><![CDATA[　　BEIJING, March 10 /PRNewswire-Asia/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a focus on high growth, strategic Tier II cities in China, today announced the Company's participation in the 22nd Annual Roth OC Growth Stock Conference, to be held March 15-17, 2010 at the Ritz Carlton in Dana Point, CA. Management's participation will consist of a presentation scheduled for 1:30 pm local time on Tuesday, March 16th and one-on-one meetings with investors. 

　　Institutional investors interested in meeting the Company at this event should contact their Roth institutional sales representative or the individual company representatives listed below at the bottom of the press release.

　　About Xinyuan Real Estate Co., Ltd.

　　Xinyuan Real Estate Co., Ltd. ("Xinyuan") (NYSE: XIN) is a developer of large scale, high quality residential real estate projects aimed at providing middle-income consumers with a comfortable and convenient community lifestyle. Xinyuan focuses on China's Tier II cities, characterized as larger, more developed urban areas with above average GDP and population growth rates. Xinyuan has expanded its network to cover a total population of over 44.7 million people in seven strategically selected Tier II cities, comprising Hefei, Jinan, Kunshan, Suzhou, Zhengzhou, Xuzhou and Chengdu. Xinyuan is the first real estate developer from China to be listed on the New York Stock Exchange. For more information, please visit http://www.xyre.com .]]></detail>
		<source><![CDATA[SOURCE  Xinyuan Real Estate Co., Ltd.]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100191811-1.html</link>
		<title>DMR Association Announces Date of First DMR Interoperability Session</title>
		<author>PR Newswire Asia</author>
		
		<category>IT</category>
		
		<pubDate>Wed, 10 Mar 2010 22:00:00 +0800</pubDate>
		<guid>4028ee8c273ddc63012741b314710041</guid>
		<description><![CDATA[　　LONDON, March 10 /PRNewswire-Asia/ -- The Digital Mobile Radio (DMR) Association today announced the first DMR Interoperability test session will take place in Milan, Italy the week of 26th April 2010.

　　The announcement follows extensive progress made by the Association since August 2009 to define a list of interoperability tests, suitable test methodology, testing laboratory criteria and a test result verification process for both conventional and trunked modes of operation. The test session will complete phase 1 of the DMR Association's Interoperability program. The test process also takes account of the work of ETSI Special Task Force (STF) during the DMR standardisation process from 2004 and 2006, to define test criteria formalised in the documents TS 102 362-1, 2 and 3.

　　Tested vendor-interoperable DMR systems have already been deployed in the field, most notably as the communications infrastructure during the 2009 G8 summit in Aquila, Italy. The test session announced today will formalise the testing process. Certificates will be issued by the DMR Association for equipment that successfully passes the testing process which will be made public on the DMR Association website.

　　The testing process draws on the extensive experience of members of the Association's vendor interoperability testing of the P25 and TETRA standards. It also fulfils the Association's commitment to removing barriers to interoperability by establishing best practices for testing and validation to the DMR standard.

　　About DMR

　　DMR (Digital Mobile Radio) is a globally-available open digital radio standard for Professional Mobile Radio users, developed by the European Telecommunications Standards Institute (ETSI).

　　About the DMR Association

　　The DMR Association is focused on building on the success of the DMR standard through a combination of interoperability testing, certification, education and awareness. The Association also seeks to ensure that buyers of DMR technology gain value through the competition and choice derived from products built to an open multi-vendor standard.

　　Members of the DMR Association include CML Microcircuits, Funkwerk Koelleda, Fylde Micro, Icom, Kenwood, Motorola, SELEX Communications - a Finmeccanica Company, Shenzhen HYT Science &amp; Technology Co., Ltd, Tait Radio Communications, Team Simoco, and Vertex Standard. http://www.dmrassociation.org]]></description>
		<detail><![CDATA[　　LONDON, March 10 /PRNewswire-Asia/ -- The Digital Mobile Radio (DMR) Association today announced the first DMR Interoperability test session will take place in Milan, Italy the week of 26th April 2010.

　　The announcement follows extensive progress made by the Association since August 2009 to define a list of interoperability tests, suitable test methodology, testing laboratory criteria and a test result verification process for both conventional and trunked modes of operation. The test session will complete phase 1 of the DMR Association's Interoperability program. The test process also takes account of the work of ETSI Special Task Force (STF) during the DMR standardisation process from 2004 and 2006, to define test criteria formalised in the documents TS 102 362-1, 2 and 3.

　　Tested vendor-interoperable DMR systems have already been deployed in the field, most notably as the communications infrastructure during the 2009 G8 summit in Aquila, Italy. The test session announced today will formalise the testing process. Certificates will be issued by the DMR Association for equipment that successfully passes the testing process which will be made public on the DMR Association website.

　　The testing process draws on the extensive experience of members of the Association's vendor interoperability testing of the P25 and TETRA standards. It also fulfils the Association's commitment to removing barriers to interoperability by establishing best practices for testing and validation to the DMR standard.

　　About DMR

　　DMR (Digital Mobile Radio) is a globally-available open digital radio standard for Professional Mobile Radio users, developed by the European Telecommunications Standards Institute (ETSI).

　　About the DMR Association

　　The DMR Association is focused on building on the success of the DMR standard through a combination of interoperability testing, certification, education and awareness. The Association also seeks to ensure that buyers of DMR technology gain value through the competition and choice derived from products built to an open multi-vendor standard.

　　Members of the DMR Association include CML Microcircuits, Funkwerk Koelleda, Fylde Micro, Icom, Kenwood, Motorola, SELEX Communications - a Finmeccanica Company, Shenzhen HYT Science &amp; Technology Co., Ltd, Tait Radio Communications, Team Simoco, and Vertex Standard. http://www.dmrassociation.org]]></detail>
		<source><![CDATA[SOURCE  DMR Association]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100199111-1.html</link>
		<title>China Housing Announces Participation in the Roth OC Growth Stock Conference</title>
		<author>PR Newswire Asia</author>
		
		<category>Real Estate/Construction</category>
		
		<pubDate>Wed, 10 Mar 2010 22:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec0127486315030053</guid>
		<description><![CDATA[

　　XI'AN, China, March 10 /PRNewswire-Asia-FirstCall/ -- China Housing &amp; Land Development, Inc. ("China Housing" or the "Company," Nasdaq: CHLN) today announced the Company's participation in the 22nd Annual Roth OC Growth Stock Conference, to be held March 15-17, 2010 at the Ritz Carlton in Dana Point, CA. Management's participation will consist of a presentation scheduled for 10:30 am local time on Wednesday, March 17th and one-on-one meetings with investors. 

　　Institutional investors interested in meeting the Company at this event should contact their Roth institutional sales representative.

　　About China Housing &amp; Land Development, Inc.

　　Based in Xi'an, the capital city of China's Shaanxi province, China Housing &amp; Land Development, Inc., is a leading developer of residential and commercial properties in northwest China. China Housing has been engaged in land acquisition, development, and management, including the sales of residential and commercial real estate properties through its wholly-owned subsidiary in China, since 1992.

　　China Housing &amp; Land Development is the first and only Chinese real estate development company traded on NASDAQ. The Company's news releases, project information, photographs, and more are available on the internet at http://www.chldinc.com . 

　　Safe Harbor

　　This news release may contain forward-looking information about China Housing &amp; Land Development, Inc. which is covered under the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as believe, expect, may, will, should, project, plan, seek, intend, or anticipate or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and China Housing &amp; Land Development's future performance, operations, and products.

　　Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Actual performance results may vary significantly from expectations and projections. Further information regarding this and other risk factors are contained in China Housing's public filings with the U.S. Securities and Exchange Commission. All information provided in this news release and in any attachments are as of the date of the release, and the companies do not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

　　For more information, please contact: 

　　China Housing contacts: 
　　 Mr. Cangsang Huang
　　 Chief Financial Officer
　　 Tel:   +86-29-8258-2648 in Xi'an
　　 Email: chuang@chldinc.com

　　Ms. Jing Lu
　　 Chief Operating Officer, Board Secretary, and Investor Relations Officer
　　 Tel:   +86-29-8258-2632 in Xi'an
　　 Email: jinglu@chldinc.com

　　Mr. Shuai Luo
　　 Investor Relations
　　 Tel:   +86-29-8258-2632
　　 Email: laurentluo@chldinc.com

　　Mr. Bill Zima, ICR
　　 Tel:   +1-203-682-8200 in United States
　　 Email: William.Zima@icrinc.com

　　Ms. Annie Chen, ICR
　　 Tel:   +86-10-6599-7966 in Beijing
　　 Email: Annie.Chen@icrinc.com

]]></description>
		<detail><![CDATA[

　　XI'AN, China, March 10 /PRNewswire-Asia-FirstCall/ -- China Housing &amp; Land Development, Inc. ("China Housing" or the "Company," Nasdaq: CHLN) today announced the Company's participation in the 22nd Annual Roth OC Growth Stock Conference, to be held March 15-17, 2010 at the Ritz Carlton in Dana Point, CA. Management's participation will consist of a presentation scheduled for 10:30 am local time on Wednesday, March 17th and one-on-one meetings with investors. 

　　Institutional investors interested in meeting the Company at this event should contact their Roth institutional sales representative.

　　About China Housing &amp; Land Development, Inc.

　　Based in Xi'an, the capital city of China's Shaanxi province, China Housing &amp; Land Development, Inc., is a leading developer of residential and commercial properties in northwest China. China Housing has been engaged in land acquisition, development, and management, including the sales of residential and commercial real estate properties through its wholly-owned subsidiary in China, since 1992.

　　China Housing &amp; Land Development is the first and only Chinese real estate development company traded on NASDAQ. The Company's news releases, project information, photographs, and more are available on the internet at http://www.chldinc.com . 

　　Safe Harbor

　　This news release may contain forward-looking information about China Housing &amp; Land Development, Inc. which is covered under the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as believe, expect, may, will, should, project, plan, seek, intend, or anticipate or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and China Housing &amp; Land Development's future performance, operations, and products.

　　Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Actual performance results may vary significantly from expectations and projections. Further information regarding this and other risk factors are contained in China Housing's public filings with the U.S. Securities and Exchange Commission. All information provided in this news release and in any attachments are as of the date of the release, and the companies do not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

　　For more information, please contact: 

　　China Housing contacts: 
　　 Mr. Cangsang Huang
　　 Chief Financial Officer
　　 Tel:   +86-29-8258-2648 in Xi'an
　　 Email: chuang@chldinc.com

　　Ms. Jing Lu
　　 Chief Operating Officer, Board Secretary, and Investor Relations Officer
　　 Tel:   +86-29-8258-2632 in Xi'an
　　 Email: jinglu@chldinc.com

　　Mr. Shuai Luo
　　 Investor Relations
　　 Tel:   +86-29-8258-2632
　　 Email: laurentluo@chldinc.com

　　Mr. Bill Zima, ICR
　　 Tel:   +1-203-682-8200 in United States
　　 Email: William.Zima@icrinc.com

　　Ms. Annie Chen, ICR
　　 Tel:   +86-10-6599-7966 in Beijing
　　 Email: Annie.Chen@icrinc.com

]]></detail>
		<source><![CDATA[SOURCE  China Housing & Land Development, Inc. ]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100195911-1.html</link>
		<title>China VoIP &amp; Digital Telecom Subsidiary, Beijing PowerUnique Technologies, Wins Virtualization Project Bid for Peking University's Third Hospital</title>
		<author>PR Newswire Asia</author>
		
		<category>Finance</category>
		
		<category>Health</category>
		
		<pubDate>Wed, 10 Mar 2010 22:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012746f8db340030</guid>
		<description><![CDATA[

　　JINAN, Shandong, China, March 10 /PRNewswire-Asia-FirstCall/ -- Beijing PowerUnique Technologies Co., Ltd ("BPUT"), one of the wholly-owned subsidiaries of China VoIP &amp; Digital Telecom (OTC Bulletin Board: CVDT), today announced that it has won the bid for the Peking University Third Hospital ("The Hospital") virtualization project. This is CVDT's second successful bid offering integrated virtualization solutions to the healthcare industry.

　　Third Hospital is a modern, comprehensive facility rated first in its class. It offers medical services, medical education and training, research and prevention medicine, as well as healthcare services. It was one of the hospitals designated to serve during the 2008 Olympic Games.

　　The Hospital accepted BPUT's sophisticated integrated virtualization solution to improve their servers' utilization rates and enhance datacenter security. BPUT's virtualization solutions will also reduce purchasing and administrative expenses and will provide the Hospital with higher energy-savings, lower overall emissions and a more environmental-friendly computing solution. 

　　BPUT was also awarded with a post-implementation services support contract. 

　　Mr. Kunwu Li, President and CEO of China VoIP &amp; Digital Telecom, was very pleased about winning the bid. He said, "Being awarded such an important project is another example of our continued success in the virtualization industry. This project clearly shows our ability to implement our integrated virtualization solutions for healthcare industry."
 
　　About China VoIP &amp; Digital Telecom Inc. 

　　China VoIP &amp; Digital Telecom Inc. offers virtualization technology application in the People's Republic of China through its wholly owned subsidiary Jinan Yinquan Technology Co., Ltd and Beijing PowerUnique Technologies, Co., Ltd. Through the two subsidiaries, China VoIP &amp; Digital Telecom is well positioned to take full advantage of the tremendous economic growth currently being experienced in China. The Company is currently marketing its integral virtualization solutions and services in China and at this time is in the testing stages of other Information Technology products.  More information can be found at http://www.chinavoip-telecom.com .  

　　About Virtualization Technology 

　　Virtualization is a proven software technology that is rapidly transforming the IT landscape and fundamentally changing the way people compute.　　

　　Today's powerful x86 computer hardware was originally designed to run only a single operating system and a single application, but virtualization breaks that boundary, making it possible to run multiple operating systems and multiple applications on the same computer at the same time, increasing the utilization and flexibility of hardware.

　　Virtualization is a technology that can benefit anyone who uses a computer, from IT professionals and Mac enthusiasts to commercial businesses and government organizations. Join the millions of people around the world who use virtualization to save time, money and energy while achieving more with the computer hardware they already own. 

　　Safe Harbor Statement

　　Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as 'believe,' 'expect,' 'may,' 'will,' 'should,' 'project,' 'plan,' 'seek,' 'intend,' or 'anticipate' or the negative thereof or comparable terminology. 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

　　CVDT Investor Contacts: 
　　 Michelle Wong 
　　 Tel:   +86-531-5558-5742
　　 Email: michellewong@chinavoip-telecom.com   

　　 Great Wall Research LLC
　　 Sheena Shen
　　 Tel:   +1-203-252-7266
　　 Email: sshen@greatwallresearch.com 

]]></description>
		<detail><![CDATA[

　　JINAN, Shandong, China, March 10 /PRNewswire-Asia-FirstCall/ -- Beijing PowerUnique Technologies Co., Ltd ("BPUT"), one of the wholly-owned subsidiaries of China VoIP &amp; Digital Telecom (OTC Bulletin Board: CVDT), today announced that it has won the bid for the Peking University Third Hospital ("The Hospital") virtualization project. This is CVDT's second successful bid offering integrated virtualization solutions to the healthcare industry.

　　Third Hospital is a modern, comprehensive facility rated first in its class. It offers medical services, medical education and training, research and prevention medicine, as well as healthcare services. It was one of the hospitals designated to serve during the 2008 Olympic Games.

　　The Hospital accepted BPUT's sophisticated integrated virtualization solution to improve their servers' utilization rates and enhance datacenter security. BPUT's virtualization solutions will also reduce purchasing and administrative expenses and will provide the Hospital with higher energy-savings, lower overall emissions and a more environmental-friendly computing solution. 

　　BPUT was also awarded with a post-implementation services support contract. 

　　Mr. Kunwu Li, President and CEO of China VoIP &amp; Digital Telecom, was very pleased about winning the bid. He said, "Being awarded such an important project is another example of our continued success in the virtualization industry. This project clearly shows our ability to implement our integrated virtualization solutions for healthcare industry."
 
　　About China VoIP &amp; Digital Telecom Inc. 

　　China VoIP &amp; Digital Telecom Inc. offers virtualization technology application in the People's Republic of China through its wholly owned subsidiary Jinan Yinquan Technology Co., Ltd and Beijing PowerUnique Technologies, Co., Ltd. Through the two subsidiaries, China VoIP &amp; Digital Telecom is well positioned to take full advantage of the tremendous economic growth currently being experienced in China. The Company is currently marketing its integral virtualization solutions and services in China and at this time is in the testing stages of other Information Technology products.  More information can be found at http://www.chinavoip-telecom.com .  

　　About Virtualization Technology 

　　Virtualization is a proven software technology that is rapidly transforming the IT landscape and fundamentally changing the way people compute.　　

　　Today's powerful x86 computer hardware was originally designed to run only a single operating system and a single application, but virtualization breaks that boundary, making it possible to run multiple operating systems and multiple applications on the same computer at the same time, increasing the utilization and flexibility of hardware.

　　Virtualization is a technology that can benefit anyone who uses a computer, from IT professionals and Mac enthusiasts to commercial businesses and government organizations. Join the millions of people around the world who use virtualization to save time, money and energy while achieving more with the computer hardware they already own. 

　　Safe Harbor Statement

　　Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as 'believe,' 'expect,' 'may,' 'will,' 'should,' 'project,' 'plan,' 'seek,' 'intend,' or 'anticipate' or the negative thereof or comparable terminology. 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

　　CVDT Investor Contacts: 
　　 Michelle Wong 
　　 Tel:   +86-531-5558-5742
　　 Email: michellewong@chinavoip-telecom.com   

　　 Great Wall Research LLC
　　 Sheena Shen
　　 Tel:   +1-203-252-7266
　　 Email: sshen@greatwallresearch.com 

]]></detail>
		<source><![CDATA[SOURCE  China VoIP & Digital Telecom Inc.]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100197511-1.html</link>
		<title>Sutor Technology Group Limited Signs Four New Contracts for 52,000 Metric Tons</title>
		<author>PR Newswire Asia</author>
		
		<category>Energy/Natural Sources </category>
		
		<pubDate>Wed, 10 Mar 2010 21:30:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec0127482f3f380051</guid>
		<description><![CDATA[New contracts total approximately $40 million in revenue

　　CHANGSHU, China, March 10 /PRNewswire-Asia-FirstCall/ -- Sutor Technology Group Limited (the "Company", "Sutor") (Nasdaq: SUTR), a leading China-based manufacturer and distributor of high-end fine finished steel products and welded steel pipes used by a variety of down-stream applications today announced that it has signed four annual contracts totaling approximately 52,000 metric tons of processed steel products for an aggregate contract amount of approximately US$40 million based on current market prices. The contracts are for one year beginning from March and the products sold through the contracts will be priced at the market at the time of shipment.

　　The new order contracts are with long term customers Shandong Sangle, a leading solar water heater manufacturer in China, and three steel distributors located in Eastern and Southern China. Under the contracts, Sutor will supply approximately 10,000 metric tons of pre-painted galvanized steel (PPGI) to Shandong Sangle and 42,000 metric tons of hot dipped galvanized steel (HDGI) to the three steel distributors.

　　"We are pleased with today's new contract announcements with our long-term partners. We believe these annual agreements demonstrate our commitment to superior product quality and customer service. In addition, we continue to use our proactive research and development efforts to design new products with green energy uses and applications. Further, these new contracts demonstrate how Sutor is successfully building closer relationships with professional steel distributors who understand their local markets and have a wide customer base," stated Ms. Lifang Chen, Chairwoman and CEO of Sutor Technology Group.

　　About Sutor Technology Group Limited

　　Sutor (Nasdaq: SUTR) is one of the leading private manufacturers of fine finished steel products used by steel fabricators and other applications in China. Sutor utilizes a variety of processes and technologies to convert steel manufactured by third parties into fine finished steel products, including hot-dipped galvanized steel, pre-painted galvanized steel, acid-pickled steel, cold-rolled steel and welded steel pipe products. The company's diversified lines of products are extensively used for solar energy, household appliances, medical instruments, IT, building &amp; construction, and automobiles. The company benefits directly from the increasing and sustainable demand for its products due to urbanization and industrial upgrading in China. To learn more about the Company, please visit http://www.sutorcn.com .

　　Forward-Looking Statements

　　This press release includes certain statements that are not descriptions of historical facts, but are forward-looking statements. Such statements include, among others, those concerning the four new contracts, our expected financial performance and strategic and operational plans, our future operating results, our expectations regarding the market for our steel finishing fabrication products, our expectations regarding the continued growth of the steel market, as well as all assumptions, expectations, predictions, intentions or beliefs about our relative strength and about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties, including developments in the world economy and in our industry, could cause our actual results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and uncertainties include, but not limited to, the factors mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended June 30, 2009, and other risks mentioned in our other reports filed with the Securities Exchange Commission, or SEC. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov . The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company assumes no obligation and does not intend to update any forward- looking statements, except as required by law.

　　For more information, please contact:

　　Sutor Technology Group Limited
　　 Mr. Jason Wang, Director of IR
　　 Tel: +86-512-5268-0988
　　 Web: http://www.sutorcn.com

　　ICR, Inc.
　　 Mr. Brian M. Prenoveau, CFA
　　 Tel: +1-203-682-8200

]]></description>
		<detail><![CDATA[New contracts total approximately $40 million in revenue

　　CHANGSHU, China, March 10 /PRNewswire-Asia-FirstCall/ -- Sutor Technology Group Limited (the "Company", "Sutor") (Nasdaq: SUTR), a leading China-based manufacturer and distributor of high-end fine finished steel products and welded steel pipes used by a variety of down-stream applications today announced that it has signed four annual contracts totaling approximately 52,000 metric tons of processed steel products for an aggregate contract amount of approximately US$40 million based on current market prices. The contracts are for one year beginning from March and the products sold through the contracts will be priced at the market at the time of shipment.

　　The new order contracts are with long term customers Shandong Sangle, a leading solar water heater manufacturer in China, and three steel distributors located in Eastern and Southern China. Under the contracts, Sutor will supply approximately 10,000 metric tons of pre-painted galvanized steel (PPGI) to Shandong Sangle and 42,000 metric tons of hot dipped galvanized steel (HDGI) to the three steel distributors.

　　"We are pleased with today's new contract announcements with our long-term partners. We believe these annual agreements demonstrate our commitment to superior product quality and customer service. In addition, we continue to use our proactive research and development efforts to design new products with green energy uses and applications. Further, these new contracts demonstrate how Sutor is successfully building closer relationships with professional steel distributors who understand their local markets and have a wide customer base," stated Ms. Lifang Chen, Chairwoman and CEO of Sutor Technology Group.

　　About Sutor Technology Group Limited

　　Sutor (Nasdaq: SUTR) is one of the leading private manufacturers of fine finished steel products used by steel fabricators and other applications in China. Sutor utilizes a variety of processes and technologies to convert steel manufactured by third parties into fine finished steel products, including hot-dipped galvanized steel, pre-painted galvanized steel, acid-pickled steel, cold-rolled steel and welded steel pipe products. The company's diversified lines of products are extensively used for solar energy, household appliances, medical instruments, IT, building &amp; construction, and automobiles. The company benefits directly from the increasing and sustainable demand for its products due to urbanization and industrial upgrading in China. To learn more about the Company, please visit http://www.sutorcn.com .

　　Forward-Looking Statements

　　This press release includes certain statements that are not descriptions of historical facts, but are forward-looking statements. Such statements include, among others, those concerning the four new contracts, our expected financial performance and strategic and operational plans, our future operating results, our expectations regarding the market for our steel finishing fabrication products, our expectations regarding the continued growth of the steel market, as well as all assumptions, expectations, predictions, intentions or beliefs about our relative strength and about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties, including developments in the world economy and in our industry, could cause our actual results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and uncertainties include, but not limited to, the factors mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended June 30, 2009, and other risks mentioned in our other reports filed with the Securities Exchange Commission, or SEC. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov . The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company assumes no obligation and does not intend to update any forward- looking statements, except as required by law.

　　For more information, please contact:

　　Sutor Technology Group Limited
　　 Mr. Jason Wang, Director of IR
　　 Tel: +86-512-5268-0988
　　 Web: http://www.sutorcn.com

　　ICR, Inc.
　　 Mr. Brian M. Prenoveau, CFA
　　 Tel: +1-203-682-8200

]]></detail>
		<source><![CDATA[SOURCE  Sutor Technology Group Limited]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100198811-1.html</link>
		<title>China-Biotics, Inc. Announces the Results of the 2009 Annual Stockholders Meeting</title>
		<author>PR Newswire Asia</author>
		
		<category>Health</category>
		
		<pubDate>Wed, 10 Mar 2010 21:02:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec0127482b80e90050</guid>
		<description><![CDATA[　　SHANGHAI, March 10 /PRNewswire-Asia/ -- China-Biotics, Inc. ("China-Biotics", the "Company") (Nasdaq: CHBT), a leading developer, manufacturer and distributor of probiotics products in China, today announced the results of its 2009 Annual Meeting of Stockholders ("AGM") held on Friday, March 5, 2010 for stockholders of record as of January 8, 2010, at the Company's executive offices in Shanghai, China. 

　　At the AGM, Mr. Song Jinan, the Chief Executive Officer and Chairman of the Board of China-Biotics, Dr. Chin Ji Wei, Dr. Du Wen Min and Mr. Simon Yick were elected by stockholders as directors of the Company until the 2010 annual meeting of stockholders.  

　　Also at the AGM, stockholders ratified the appointment of BDO Limited as the Company's independent auditors for the fiscal year ending March 31, 2010.

　　China-Biotics' executives provided a brief report outlining the Company's growth strategy, business outlook, and financial performance. Management also responded to questions from stockholders. 

　　About China-Biotics

　　China-Biotics, Inc. ("China-Biotics," "the Company"), a leading manufacturer of biotechnology products and supplements, engages in the research, development, marketing and distribution of probiotics dietary supplements in China. Through its wholly owned subsidiary, Shanghai Shining Biotechnology Co., Ltd., the Company develops and produces its proprietary product portfolio including live microbial nutritional supplements under the "Shining" brand. Currently, the products are sold OTC through large distributors to pharmacies and supermarkets in Shanghai, Jiangsu, and Zhejiang province. In February 2010, China-Biotics began its commercial production in China's largest probiotics production facility to meet growing demand in China. For more information, please visit http://www.chn-biotics.com .

　　Safe Harbor Statement 

　　The information in this release contains forward-looking statements which involve risks and uncertainties, including statements regarding the Company's capital needs, business strategy and expectations. Any statements contained herein that are not statements of historical fact may be deemed to be 
forward-looking statements, which may be identified by terminology such as "may," "should," "will," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "forecast," "project," or "continue," the negative of such terms or other comparable terminology. Readers should not rely on forward-looking statements as predictions of future events or results. Any or all of the Company's forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions, risks and uncertainties and other factors which could cause actual events or results to be materially different from those expressed or implied in the forward-looking statements. In evaluating these statements, readers should consider various factors, including the risks described in "Item 1A. Risk Factors" beginning on page 15 and elsewhere in the Company's 2009 Annual Report on Form 10-K. These factors may cause the Company's actual results to differ materially from any forward-looking statement. In addition, new factors emerge from time to time and it is not possible for the Company to predict all factors that may cause actual results to differ materially from those contained in any forward-looking statements. The Company disclaims any obligation to publicly update any forward-looking statements to reflect events or circumstances after the date of this document, except as required by applicable law.]]></description>
		<detail><![CDATA[　　SHANGHAI, March 10 /PRNewswire-Asia/ -- China-Biotics, Inc. ("China-Biotics", the "Company") (Nasdaq: CHBT), a leading developer, manufacturer and distributor of probiotics products in China, today announced the results of its 2009 Annual Meeting of Stockholders ("AGM") held on Friday, March 5, 2010 for stockholders of record as of January 8, 2010, at the Company's executive offices in Shanghai, China. 

　　At the AGM, Mr. Song Jinan, the Chief Executive Officer and Chairman of the Board of China-Biotics, Dr. Chin Ji Wei, Dr. Du Wen Min and Mr. Simon Yick were elected by stockholders as directors of the Company until the 2010 annual meeting of stockholders.  

　　Also at the AGM, stockholders ratified the appointment of BDO Limited as the Company's independent auditors for the fiscal year ending March 31, 2010.

　　China-Biotics' executives provided a brief report outlining the Company's growth strategy, business outlook, and financial performance. Management also responded to questions from stockholders. 

　　About China-Biotics

　　China-Biotics, Inc. ("China-Biotics," "the Company"), a leading manufacturer of biotechnology products and supplements, engages in the research, development, marketing and distribution of probiotics dietary supplements in China. Through its wholly owned subsidiary, Shanghai Shining Biotechnology Co., Ltd., the Company develops and produces its proprietary product portfolio including live microbial nutritional supplements under the "Shining" brand. Currently, the products are sold OTC through large distributors to pharmacies and supermarkets in Shanghai, Jiangsu, and Zhejiang province. In February 2010, China-Biotics began its commercial production in China's largest probiotics production facility to meet growing demand in China. For more information, please visit http://www.chn-biotics.com .

　　Safe Harbor Statement 

　　The information in this release contains forward-looking statements which involve risks and uncertainties, including statements regarding the Company's capital needs, business strategy and expectations. Any statements contained herein that are not statements of historical fact may be deemed to be 
forward-looking statements, which may be identified by terminology such as "may," "should," "will," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "forecast," "project," or "continue," the negative of such terms or other comparable terminology. Readers should not rely on forward-looking statements as predictions of future events or results. Any or all of the Company's forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions, risks and uncertainties and other factors which could cause actual events or results to be materially different from those expressed or implied in the forward-looking statements. In evaluating these statements, readers should consider various factors, including the risks described in "Item 1A. Risk Factors" beginning on page 15 and elsewhere in the Company's 2009 Annual Report on Form 10-K. These factors may cause the Company's actual results to differ materially from any forward-looking statement. In addition, new factors emerge from time to time and it is not possible for the Company to predict all factors that may cause actual results to differ materially from those contained in any forward-looking statements. The Company disclaims any obligation to publicly update any forward-looking statements to reflect events or circumstances after the date of this document, except as required by applicable law.]]></detail>
		<source><![CDATA[SOURCE  China-Biotics, Inc.]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100194911-1.html</link>
		<title>China Sky One Medical Announces Conference Call to Discuss Fourth Quarter and Full Year 2009 Results</title>
		<author>PR Newswire Asia</author>
		
		<category>Health</category>
		
		<category>Finance</category>
		
		<pubDate>Wed, 10 Mar 2010 21:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012744a6092d000f</guid>
		<description><![CDATA[　　HARBIN, China, March 10 /PRNewswire-Asia/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (Nasdaq: CSKI), a leading fully integrated pharmaceutical company producing over-the-counter drugs in the People's Republic of China ("PRC"), today announced that it will conduct a conference call at 8:00 a.m. Eastern Daylight Time (EDT) on Wednesday, March 17, 2010, to discuss its fourth quarter and full year 2009 financial results.

　　Joining Mr. Yan-qing Liu, Chairman and CEO of China Sky One Medical, will be Stanley Hao, Chief Financial Officer. The Company plans to issue an earnings announcement prior to the call.

　　To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 877-585-2309. International callers should dial 706-902-4207. The Conference ID for this call is 61931973.

　　If you are unable to participate in the call at this time, a replay will be available for two weeks starting on Wednesday, March 17, 2010 at 10:00 a.m. EDT. To access the replay, dial 800-642-1687, international callers dial 706-645-9291. The Conference Replay Passcode is 61931973.

　　About China Sky One Medical, Inc. 

　　China Sky One Medical, Inc., a Nevada corporation, is a holding company. The Company engages in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic products. Through its wholly owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company ("TDR"), Harbin First Bio-Engineering Company Limited ("First"), Heilongjiang Tianlong Pharmaceutical, Inc. ("Tianlong") and Peng Lai Jin Chuang Pharmaceutical Company ("Jin Chuang") the Company manufactures and distributes over-the-counter pharmaceutical products, which make up its major revenue source. For more information, visit http://www.cski.com.cn .

　　For more information, please contact:

　　Company Contact:
　　 China Sky One Medical, Inc.
　　 Mr. Stanley Hao, CFO
　　 Phone: +86-451-8703-2617 
　　 Email: stanleyhao@cski.com.cn   

　　Investor Relations Contact:
　　 CCG Investor Relations
　　 Ms. Lei Huang, Account Manager
　　 Phone: +1-646-833-3417
　　 Email: lei.huang@ccgir.com  
　　 Web:   http://www.ccgirasia.com

　　 Ms. Mabel Zhang, Vice President
　　 Phone: +1-310-954-1353
　　 Email: mabel.zhang@ccgir.com]]></description>
		<detail><![CDATA[　　HARBIN, China, March 10 /PRNewswire-Asia/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (Nasdaq: CSKI), a leading fully integrated pharmaceutical company producing over-the-counter drugs in the People's Republic of China ("PRC"), today announced that it will conduct a conference call at 8:00 a.m. Eastern Daylight Time (EDT) on Wednesday, March 17, 2010, to discuss its fourth quarter and full year 2009 financial results.

　　Joining Mr. Yan-qing Liu, Chairman and CEO of China Sky One Medical, will be Stanley Hao, Chief Financial Officer. The Company plans to issue an earnings announcement prior to the call.

　　To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 877-585-2309. International callers should dial 706-902-4207. The Conference ID for this call is 61931973.

　　If you are unable to participate in the call at this time, a replay will be available for two weeks starting on Wednesday, March 17, 2010 at 10:00 a.m. EDT. To access the replay, dial 800-642-1687, international callers dial 706-645-9291. The Conference Replay Passcode is 61931973.

　　About China Sky One Medical, Inc. 

　　China Sky One Medical, Inc., a Nevada corporation, is a holding company. The Company engages in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic products. Through its wholly owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company ("TDR"), Harbin First Bio-Engineering Company Limited ("First"), Heilongjiang Tianlong Pharmaceutical, Inc. ("Tianlong") and Peng Lai Jin Chuang Pharmaceutical Company ("Jin Chuang") the Company manufactures and distributes over-the-counter pharmaceutical products, which make up its major revenue source. For more information, visit http://www.cski.com.cn .

　　For more information, please contact:

　　Company Contact:
　　 China Sky One Medical, Inc.
　　 Mr. Stanley Hao, CFO
　　 Phone: +86-451-8703-2617 
　　 Email: stanleyhao@cski.com.cn   

　　Investor Relations Contact:
　　 CCG Investor Relations
　　 Ms. Lei Huang, Account Manager
　　 Phone: +1-646-833-3417
　　 Email: lei.huang@ccgir.com  
　　 Web:   http://www.ccgirasia.com

　　 Ms. Mabel Zhang, Vice President
　　 Phone: +1-310-954-1353
　　 Email: mabel.zhang@ccgir.com]]></detail>
		<source><![CDATA[SOURCE  China Sky One Medical, Inc.]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100198511-1.html</link>
		<title>Trina Solar Signs Sales Agreement with U.S. Wholesale Distributor Essco</title>
		<author>PR Newswire Asia</author>
		
		<category>Energy/Natural Sources </category>
		
		<pubDate>Wed, 10 Mar 2010 21:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec01274817af71004b</guid>
		<description><![CDATA[　　CHANGZHOU, China, March 10 /PRNewswire-Asia-FirstCall/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic (PV) products from the production of ingots, wafers and cells to the assembly of PV modules, today announced that its subsidiary, Changzhou Trina Solar Energy Co., Ltd., has signed a sales agreement with Essco Wholesale Electric, Inc. ("Essco"), the southwest US company of Sonepar USA, a leading full-service commercial, utility and residential electric distributor with locations throughout the United States.

　　Under the terms of the agreement, Trina Solar is expected to supply Essco with approximately 25 MW of PV modules and an additional 4 MW at the option of Essco, to be delivered during 2010. With the signing of this sales agreement, the Company has now secured a total of approximately 40 MW of PV modules from customers in the United States during 2010, all with agreed prices.

　　"We are excited to announce this agreement with a well-established leading electrical wholesale distributor like Essco and Sonepar USA. We look forward to helping expand their solar PV capabilities and provide their existing customers and markets with our high-quality solar products," said Mark Wilkerson, Trina Solar's Senior Director of North American Sales and Marketing. "This partnership will help Trina Solar expand its presence and increase brand recognition in commercial and residential markets in the United States, an important growth market for the company."

　　"With the addition of Trina Solar modules to our renewable energy equipment portfolio, we truly are able to be a one-stop distributor for our electrical contractors and solar integration companies. With Sonepar's national coverage through its operating companies and encompassing Essco's direct coverage of the Southwest, we are making renewable energy products more available and affordable than ever before to our customers," said Scott L. Tonn, Essco's President.

　　About Trina Solar Limited

　　Trina Solar Limited (NYSE: TSL), through its wholly-owned subsidiary Changzhou Trina Solar Energy Co. Ltd., is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since its foundation in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that have developed a vertically integrated business model from the production of monocrystalline and multicrystalline silicon ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com .

　　About Essco Wholesale Electric, Inc.

　　Essco Wholesale Electric is one of the largest distributors in the Arizona and Southern California markets, and leader in the renewable energy market space.  Founded in 1973, Essco has matured to twelve branches located throughout Arizona and Southern California, with each branch operating as a full-line commercial and residential electrical contractor supply house.  Essco prides itself on rapid, reliable and personalized electrical wholesale services. For further information, please visit Essco's website at http://www.esscous.com .

　　About Sonepar USA

　　Sonepar USA is made up of the finest electrical supply distributors in the United States. ESSCO Wholesale Electric is a member of the Sonepar group, one of the world's largest privately-held electrical distributors. Entering the US in 1998, Sonepar USA has seen dramatic growth over the years due to strategic acquisitions and organic growth. Today, Sonepar USA has 13 companies operating over 253 branches throughout the United States. For further information, please visit Sonepar's website at http://www.sonepar-us.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 marketability of its products; the future trading of the securities of the Company; the period of time for which the Company's current liquidity will enable the Company to fund its operations; general economic and business conditions; the volatility of the Company's operating results and financial condition; 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 Company and the industry in which the Company operates. 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, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

　　For further information, please contact:  

　　Trina Solar Limited
　　 Terry Wang, CFO
　　 Phone: +86-519-8548-2009 (Changzhou)

　　 Thomas Young, Director of Investor Relations
　　 Phone: +86-519-8548-2009 (Changzhou)
　　 Email: ir@trinasolar.com

　　Brunswick Group
　　 Caroline Jinqing Cai
　　 Phone: +86-10-6566-2256

　　 Michael Fuchs
　　 Phone: +86-10-6566-2256
　　 Email: trina@brunswickgroup.com

]]></description>
		<detail><![CDATA[　　CHANGZHOU, China, March 10 /PRNewswire-Asia-FirstCall/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic (PV) products from the production of ingots, wafers and cells to the assembly of PV modules, today announced that its subsidiary, Changzhou Trina Solar Energy Co., Ltd., has signed a sales agreement with Essco Wholesale Electric, Inc. ("Essco"), the southwest US company of Sonepar USA, a leading full-service commercial, utility and residential electric distributor with locations throughout the United States.

　　Under the terms of the agreement, Trina Solar is expected to supply Essco with approximately 25 MW of PV modules and an additional 4 MW at the option of Essco, to be delivered during 2010. With the signing of this sales agreement, the Company has now secured a total of approximately 40 MW of PV modules from customers in the United States during 2010, all with agreed prices.

　　"We are excited to announce this agreement with a well-established leading electrical wholesale distributor like Essco and Sonepar USA. We look forward to helping expand their solar PV capabilities and provide their existing customers and markets with our high-quality solar products," said Mark Wilkerson, Trina Solar's Senior Director of North American Sales and Marketing. "This partnership will help Trina Solar expand its presence and increase brand recognition in commercial and residential markets in the United States, an important growth market for the company."

　　"With the addition of Trina Solar modules to our renewable energy equipment portfolio, we truly are able to be a one-stop distributor for our electrical contractors and solar integration companies. With Sonepar's national coverage through its operating companies and encompassing Essco's direct coverage of the Southwest, we are making renewable energy products more available and affordable than ever before to our customers," said Scott L. Tonn, Essco's President.

　　About Trina Solar Limited

　　Trina Solar Limited (NYSE: TSL), through its wholly-owned subsidiary Changzhou Trina Solar Energy Co. Ltd., is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since its foundation in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that have developed a vertically integrated business model from the production of monocrystalline and multicrystalline silicon ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com .

　　About Essco Wholesale Electric, Inc.

　　Essco Wholesale Electric is one of the largest distributors in the Arizona and Southern California markets, and leader in the renewable energy market space.  Founded in 1973, Essco has matured to twelve branches located throughout Arizona and Southern California, with each branch operating as a full-line commercial and residential electrical contractor supply house.  Essco prides itself on rapid, reliable and personalized electrical wholesale services. For further information, please visit Essco's website at http://www.esscous.com .

　　About Sonepar USA

　　Sonepar USA is made up of the finest electrical supply distributors in the United States. ESSCO Wholesale Electric is a member of the Sonepar group, one of the world's largest privately-held electrical distributors. Entering the US in 1998, Sonepar USA has seen dramatic growth over the years due to strategic acquisitions and organic growth. Today, Sonepar USA has 13 companies operating over 253 branches throughout the United States. For further information, please visit Sonepar's website at http://www.sonepar-us.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 marketability of its products; the future trading of the securities of the Company; the period of time for which the Company's current liquidity will enable the Company to fund its operations; general economic and business conditions; the volatility of the Company's operating results and financial condition; 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 Company and the industry in which the Company operates. 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, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

　　For further information, please contact:  

　　Trina Solar Limited
　　 Terry Wang, CFO
　　 Phone: +86-519-8548-2009 (Changzhou)

　　 Thomas Young, Director of Investor Relations
　　 Phone: +86-519-8548-2009 (Changzhou)
　　 Email: ir@trinasolar.com

　　Brunswick Group
　　 Caroline Jinqing Cai
　　 Phone: +86-10-6566-2256

　　 Michael Fuchs
　　 Phone: +86-10-6566-2256
　　 Email: trina@brunswickgroup.com

]]></detail>
		<source><![CDATA[SOURCE  Trina Solar Limited]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100197611-1.html</link>
		<title>Andatee Marine Fuel Services Corporation Achieves Breakthrough in Research on Proprietary Pour Point Depressant</title>
		<author>PR Newswire Asia</author>
		
		<category>Energy/Natural Sources </category>
		
		<pubDate>Wed, 10 Mar 2010 21:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012748217206004d</guid>
		<description><![CDATA[　　DALIAN, China, March 10 /PRNewswire-Asia/ -- Andatee China Marine Fuel Services Corporation (NasdaqGM: AMCF), the leading independent operator engaged in the production, storage, distribution, wholesale purchase and sale of blended marine fuel oil for cargo and fishing vessels in Northern China, today announced that it has successfully achieved breakthrough in research on the Company's proprietary pour point depressant LDY-103 ("PPD"), which will be used as a marine fuel additive to improve the fuel's performance in winter.

　　The R&amp;D Department of the Company commenced its research and development efforts on LDY-103 in October 2008 with a range of small scale experiments. During the pilot production phase, the Company found that its proprietary PPD increases the performance of its marine fuel #3 and #4, especially during low temperature conditions. PPD LDY-103 has a shorter production cycle and cost structure compared to Andatee's previous PPD. In addition, the Company's PPD product is expected to reduce marine fuel production cost by RMB60-RMB70 ($8.80-$10.20), and to increase gross margin by 1.2% based on a market price of RMB5,000 ($735.30) per ton.

　　"We are very pleased with the pace of progress in the research of our proprietary PPD, which is currently applied to over 4,000 tons of marine fuel and meets all the required specifications and quality control measures," commented Mr. An Fengbin, Chairman, President and CEO of Andatee China Marine Fuel Services Corporation. "We are confident that the use of PPD as an additive for our marine fuel will increase the demand for our marine fuel and we believe we have a well-planned strategy to promote our product as reliable, superior quality and cost effective for small and medium-sized vessel owners, thus strengthening our brand recognition in the industry," concluded Mr. An.

　　About Andatee China Marine Fuel Services

　　Andatee China Marine Fuel Services Corporation is a leading independent operator engaged in the production, storage, distribution, wholesale purchase and sale of blended marine fuel oil for cargo and fishing vessels in Northern China. Headquartered in the City of Dalian, a key international shipping hub and an international logistics center in Northern China, Andatee maintains operations in Liaoning, Shandong and Zhejiang Provinces in the People's Republic of China.

　　Andatee China Marine Fuel Services provides customers with value-added benefits, including single-supplier convenience, competitive pricing, logistical support and fuel quality control. Its products are substitutes for diesel used throughout east China fishing industry. Backed by core facilities, such as storage tanks, marine fuel pumps, blending facilities and berths (the space allotted to a vessel at the wharf), its sales network covers major depots along the towns of Dandong, Shidao and Shipu along the east coast of China. Additional information about the Company is available at http://www.andatee.com .

　　Safe Harbor Relating to the Forward Looking Statements

　　Statements contained in this press release not relating to historical facts are forward-looking statements that are intended to fall within the safe harbor rule under the Private Securities Litigation Reform Act of 1995. All forward-looking statements included herein are based upon information available to the Company as of the date hereof and, except as is expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason. As a result, investors should not place undue reliance on these 
forward-looking statements. To the extent that any statements made here are not historical, these statements are essentially forward-looking. 
Forward-looking statements can be identified by the use of words such as "expects," "plans," "will," "may," "anticipates," "believes," "should," "intends," "estimates" and other words of similar meaning. The Company may also make written or oral forward-looking statements in its periodic reports filed with the U.S. Securities and Exchange Commission and other written materials and in oral statements made by its officers, directors or employees to third parties. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by these forward-looking statements. Such risk factors include, without limitation, our ability to properly execute our business model, to attract and retain management and operational personnel, potential volatility in future earnings, fluctuations in the Company's operating results, PRC governmental decisions and regulation, and existing and future competition that the Company is facing. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual events to differ from the forward-looking statements. More information about some of these risks and uncertainties may be found in the Company's filings with the Securities and Exchange Commission under the caption "Risk Factors" in such filings. 

　　For further information, please contact:

　　Company Contact:

　　Andatee China Marine Fuel Services Corporation
　　 Mr. Wen Tong
　　 Chief Financial Officer
　　 Tel:   +86-411-8360-4683
　　 Email: bill.wen@andatee.com
　　 Web:   http://www.andatee.com

　　Investor Relations Contact:

　　RedChip Companies, Inc.
　　 Jon Cunningham
　　 Tel:   +1-800-733-2447, Ext. 107
　　 Email: info@redchip.com  
　　 Web:   http://www.RedChip.com

　　CCG Investor Relations
　　 Mr. Crocker Coulson
　　 President
　　 Tel:   +1-646-213-1915 (NY Office)
　　 Email: crocker.coulson@ccgir.com
　　 Web:   http://www.ccgirasia.com]]></description>
		<detail><![CDATA[　　DALIAN, China, March 10 /PRNewswire-Asia/ -- Andatee China Marine Fuel Services Corporation (NasdaqGM: AMCF), the leading independent operator engaged in the production, storage, distribution, wholesale purchase and sale of blended marine fuel oil for cargo and fishing vessels in Northern China, today announced that it has successfully achieved breakthrough in research on the Company's proprietary pour point depressant LDY-103 ("PPD"), which will be used as a marine fuel additive to improve the fuel's performance in winter.

　　The R&amp;D Department of the Company commenced its research and development efforts on LDY-103 in October 2008 with a range of small scale experiments. During the pilot production phase, the Company found that its proprietary PPD increases the performance of its marine fuel #3 and #4, especially during low temperature conditions. PPD LDY-103 has a shorter production cycle and cost structure compared to Andatee's previous PPD. In addition, the Company's PPD product is expected to reduce marine fuel production cost by RMB60-RMB70 ($8.80-$10.20), and to increase gross margin by 1.2% based on a market price of RMB5,000 ($735.30) per ton.

　　"We are very pleased with the pace of progress in the research of our proprietary PPD, which is currently applied to over 4,000 tons of marine fuel and meets all the required specifications and quality control measures," commented Mr. An Fengbin, Chairman, President and CEO of Andatee China Marine Fuel Services Corporation. "We are confident that the use of PPD as an additive for our marine fuel will increase the demand for our marine fuel and we believe we have a well-planned strategy to promote our product as reliable, superior quality and cost effective for small and medium-sized vessel owners, thus strengthening our brand recognition in the industry," concluded Mr. An.

　　About Andatee China Marine Fuel Services

　　Andatee China Marine Fuel Services Corporation is a leading independent operator engaged in the production, storage, distribution, wholesale purchase and sale of blended marine fuel oil for cargo and fishing vessels in Northern China. Headquartered in the City of Dalian, a key international shipping hub and an international logistics center in Northern China, Andatee maintains operations in Liaoning, Shandong and Zhejiang Provinces in the People's Republic of China.

　　Andatee China Marine Fuel Services provides customers with value-added benefits, including single-supplier convenience, competitive pricing, logistical support and fuel quality control. Its products are substitutes for diesel used throughout east China fishing industry. Backed by core facilities, such as storage tanks, marine fuel pumps, blending facilities and berths (the space allotted to a vessel at the wharf), its sales network covers major depots along the towns of Dandong, Shidao and Shipu along the east coast of China. Additional information about the Company is available at http://www.andatee.com .

　　Safe Harbor Relating to the Forward Looking Statements

　　Statements contained in this press release not relating to historical facts are forward-looking statements that are intended to fall within the safe harbor rule under the Private Securities Litigation Reform Act of 1995. All forward-looking statements included herein are based upon information available to the Company as of the date hereof and, except as is expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason. As a result, investors should not place undue reliance on these 
forward-looking statements. To the extent that any statements made here are not historical, these statements are essentially forward-looking. 
Forward-looking statements can be identified by the use of words such as "expects," "plans," "will," "may," "anticipates," "believes," "should," "intends," "estimates" and other words of similar meaning. The Company may also make written or oral forward-looking statements in its periodic reports filed with the U.S. Securities and Exchange Commission and other written materials and in oral statements made by its officers, directors or employees to third parties. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by these forward-looking statements. Such risk factors include, without limitation, our ability to properly execute our business model, to attract and retain management and operational personnel, potential volatility in future earnings, fluctuations in the Company's operating results, PRC governmental decisions and regulation, and existing and future competition that the Company is facing. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual events to differ from the forward-looking statements. More information about some of these risks and uncertainties may be found in the Company's filings with the Securities and Exchange Commission under the caption "Risk Factors" in such filings. 

　　For further information, please contact:

　　Company Contact:

　　Andatee China Marine Fuel Services Corporation
　　 Mr. Wen Tong
　　 Chief Financial Officer
　　 Tel:   +86-411-8360-4683
　　 Email: bill.wen@andatee.com
　　 Web:   http://www.andatee.com

　　Investor Relations Contact:

　　RedChip Companies, Inc.
　　 Jon Cunningham
　　 Tel:   +1-800-733-2447, Ext. 107
　　 Email: info@redchip.com  
　　 Web:   http://www.RedChip.com

　　CCG Investor Relations
　　 Mr. Crocker Coulson
　　 President
　　 Tel:   +1-646-213-1915 (NY Office)
　　 Email: crocker.coulson@ccgir.com
　　 Web:   http://www.ccgirasia.com]]></detail>
		<source><![CDATA[SOURCE  Andatee China Marine Fuel Services Corporation]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100198211-1.html</link>
		<title>China Fire to Report Fourth Quarter and Full Year 2009 Earning Results on March 16, 2010</title>
		<author>PR Newswire Asia</author>
		
		<category>Finance</category>
		
		<pubDate>Wed, 10 Mar 2010 21:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec0127482690d6004e</guid>
		<description><![CDATA[　　BEIJING, March 10 /PRNewswire-Asia/ -- China Fire &amp; Security Group, Inc. (Nasdaq: CFSG) ("China Fire" or "the Company"), a leading total solution provider of industrial fire protection systems in China, today announced that it plans to report its fourth quarter and fiscal year 2009 financial results on Tuesday, March 16, 2010 before the market opens. The Company will also hold a conference call to discuss the financial results the same day at 8:00 a.m. U.S. Eastern Time.
　　Listeners may access the call by dialing # 1-719-325-4763. To listen to the live webcast of the event, please go to http://www.chinafiresecurity.com and click on the Investor Relations section where conference calls are posted. Please go to the website 15 minutes early to download and install any necessary audio software.
　　A replay of the call will be available from March 16, 2010 to March 23, 2010. Listeners may access the replay by dialing #1-719-457-0820, passcode: 8104346.

　　About China Fire &amp; Security Group, Inc. 
　　China Fire &amp; Security Group, Inc. (NASDAQ: CFSG), through its wholly owned subsidiary, Sureland Industrial Fire Safety Limited ("Sureland"), is a leading total solution provider of industrial fire protection systems in China. Leveraging on its proprietary technologies, China Fire is engaged primarily in the design, manufacture, sales and maintenance services of a broad product portfolio including detectors, controllers, and fire extinguishers. Via its nationwide direct sales force, China Fire has built a solid client base including major companies in iron and steel, power, petrochemical and transportation industries throughout China. China Fire has a seasoned management team with strong focus on standards and technologies. Currently, China Fire has a comprehensive portfolio of patents covering fire detection, system control and fire extinguishing technologies. Founded in 1995, China Fire is headquartered in Beijing with about 430 employees in more than 30 sales and project offices throughout China. For more information about the Company, please go to http://www.chinafiresecurity.com .

　　Cautionary Statement Regarding Forward Looking Information
　　This presentation may contain forward-looking information about China Fire &amp; Security Group, Inc. and its wholly owned subsidiary Sureland which are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. 
Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, statements about industry trends and China Fire &amp; Security Groups' future performance, operations and products. This and other "Risk Factors" are contained in China Fire &amp; Security Groups' public filings with the SEC.

　　For more information, please contact:

　　China Fire &amp; Security Group, Inc.
　　 Amy Gao, Investor Relations
　　 Tel:   +86-10-8441-7400
　　 Email: ir@chinafiresecurity.com

　　ICR, Inc.
　　 In China:
　　 Michael Tieu  
　　 Tel:   +86-10-6599-7960  
　　 Email: michael.tieu@icrinc.com  

　　In the U.S.:
　　 Bill Zima　　 
　　 Tel:   +1-203-682-8200
　　 Email: bill.zima@icrinc.com]]></description>
		<detail><![CDATA[　　BEIJING, March 10 /PRNewswire-Asia/ -- China Fire &amp; Security Group, Inc. (Nasdaq: CFSG) ("China Fire" or "the Company"), a leading total solution provider of industrial fire protection systems in China, today announced that it plans to report its fourth quarter and fiscal year 2009 financial results on Tuesday, March 16, 2010 before the market opens. The Company will also hold a conference call to discuss the financial results the same day at 8:00 a.m. U.S. Eastern Time.
　　Listeners may access the call by dialing # 1-719-325-4763. To listen to the live webcast of the event, please go to http://www.chinafiresecurity.com and click on the Investor Relations section where conference calls are posted. Please go to the website 15 minutes early to download and install any necessary audio software.
　　A replay of the call will be available from March 16, 2010 to March 23, 2010. Listeners may access the replay by dialing #1-719-457-0820, passcode: 8104346.

　　About China Fire &amp; Security Group, Inc. 
　　China Fire &amp; Security Group, Inc. (NASDAQ: CFSG), through its wholly owned subsidiary, Sureland Industrial Fire Safety Limited ("Sureland"), is a leading total solution provider of industrial fire protection systems in China. Leveraging on its proprietary technologies, China Fire is engaged primarily in the design, manufacture, sales and maintenance services of a broad product portfolio including detectors, controllers, and fire extinguishers. Via its nationwide direct sales force, China Fire has built a solid client base including major companies in iron and steel, power, petrochemical and transportation industries throughout China. China Fire has a seasoned management team with strong focus on standards and technologies. Currently, China Fire has a comprehensive portfolio of patents covering fire detection, system control and fire extinguishing technologies. Founded in 1995, China Fire is headquartered in Beijing with about 430 employees in more than 30 sales and project offices throughout China. For more information about the Company, please go to http://www.chinafiresecurity.com .

　　Cautionary Statement Regarding Forward Looking Information
　　This presentation may contain forward-looking information about China Fire &amp; Security Group, Inc. and its wholly owned subsidiary Sureland which are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. 
Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, statements about industry trends and China Fire &amp; Security Groups' future performance, operations and products. This and other "Risk Factors" are contained in China Fire &amp; Security Groups' public filings with the SEC.

　　For more information, please contact:

　　China Fire &amp; Security Group, Inc.
　　 Amy Gao, Investor Relations
　　 Tel:   +86-10-8441-7400
　　 Email: ir@chinafiresecurity.com

　　ICR, Inc.
　　 In China:
　　 Michael Tieu  
　　 Tel:   +86-10-6599-7960  
　　 Email: michael.tieu@icrinc.com  

　　In the U.S.:
　　 Bill Zima　　 
　　 Tel:   +1-203-682-8200
　　 Email: bill.zima@icrinc.com]]></detail>
		<source><![CDATA[SOURCE  China Fire & Security Group, Inc. ]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100196811-1.html</link>
		<title>American Oriental Bioengineering to Report Fourth Quarter and Full Year 2009 Financial Results on March 15, 2010</title>
		<author>PR Newswire Asia</author>
		
		<category>Health</category>
		
		<pubDate>Wed, 10 Mar 2010 21:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012746de659c0028</guid>
		<description><![CDATA[

　　NEW YORK, March 10 /PRNewswire-Asia-FirstCall/ -- American Oriental Bioengineering, Inc. (NYSE: AOB), ("the Company" or "AOBO"), a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter ("OTC") products, today announced that it plans to release fourth quarter and full year 2009 financial results on Monday, March 15, 2010, before the market opens.  

　　The Company will hold a conference call at 8:00 am ET on Monday, March 15, to discuss its results.  Listeners may access the call by dialing 1-800-261-3417 or 1-617-614-3673 for international callers, access code: 25821500.  A webcast will also be available through AOB's website at http://www.bioaobo.com . 

　　A replay of the call will be available through March 22, 2010.  Listeners may access the replay by dialing 1-888-286-8010 or 1-617-801-6888 for international callers, access code: 59269795.
 
　　About American Oriental Bioengineering, Inc.

　　American Oriental Bioengineering, Inc. is a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter products.  

　　Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995.  Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements.  The economic, competitive, governmental, technological and other factors identified in the Company's filings with the Securities and Exchange Commission, including the Form 10-K for the year ended December 31, 2008, may cause actual results or events to differ materially from those described in the forward looking statements in this press release.  The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

　　For more information, please contact:

　　Integrated Corporate Relations, Inc.
　　 Ashley M. Ammon 
　　 Tel:   +1-646-277-1200

]]></description>
		<detail><![CDATA[

　　NEW YORK, March 10 /PRNewswire-Asia-FirstCall/ -- American Oriental Bioengineering, Inc. (NYSE: AOB), ("the Company" or "AOBO"), a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter ("OTC") products, today announced that it plans to release fourth quarter and full year 2009 financial results on Monday, March 15, 2010, before the market opens.  

　　The Company will hold a conference call at 8:00 am ET on Monday, March 15, to discuss its results.  Listeners may access the call by dialing 1-800-261-3417 or 1-617-614-3673 for international callers, access code: 25821500.  A webcast will also be available through AOB's website at http://www.bioaobo.com . 

　　A replay of the call will be available through March 22, 2010.  Listeners may access the replay by dialing 1-888-286-8010 or 1-617-801-6888 for international callers, access code: 59269795.
 
　　About American Oriental Bioengineering, Inc.

　　American Oriental Bioengineering, Inc. is a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter products.  

　　Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995.  Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements.  The economic, competitive, governmental, technological and other factors identified in the Company's filings with the Securities and Exchange Commission, including the Form 10-K for the year ended December 31, 2008, may cause actual results or events to differ materially from those described in the forward looking statements in this press release.  The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

　　For more information, please contact:

　　Integrated Corporate Relations, Inc.
　　 Ashley M. Ammon 
　　 Tel:   +1-646-277-1200

]]></detail>
		<source><![CDATA[SOURCE  American Oriental Bioengineering, Inc. ]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100197311-1.html</link>
		<title>Telestone Technologies Corporation to Present at the 22nd Annual ROTH Capital Partners OC Growth Stock Conference on March 15</title>
		<author>PR Newswire Asia</author>
		
		<category>IT</category>
		
		<pubDate>Wed, 10 Mar 2010 21:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec0127473e61e90039</guid>
		<description><![CDATA[　　BEIJING, March 10 /PRNewswire-Asia/ -- Telestone Technologies Corporation (Nasdaq: TSTC; "Telestone" or the "Company") a leading developer of local access network solutions, products, and engineering services today announced it will present at the 22nd Annual ROTH Capital Partners Conference to be held March 15-18 in Laguna Niguel, California. Presentation details are noted below.

　　Date:　　   March 15, 2010
　　Time:　　   3:00 PM PST (Track 3)
　　Location:   The Ritz Carlton, Laguna, Niguel
　　Presenter:  Mr. Ren Hu, Board Secretary

　　Conference participation is by invitation and registration is mandatory. For more information on the conference, contact your ROTH representative or visit http://www.roth.com . 

　　About ROTH Capital Partners, LLC

　　ROTH Capital Partners is a full service investment banking firm dedicated to the small-cap public market. Since its inception in 1984, ROTH has been an innovator in this space. ROTH has participated in underwriting IPOs for 
small-cap companies, has helped develop the PIPE financing structure, and more recently in underwriting offerings from shelf registration statements. ROTH was one of the first U.S. investment banks to focus on financing small-cap Chinese companies, and established a Representative Office in Shanghai in 2007.  ROTH's experience and capabilities in raising capital for public companies are the hallmarks of the firm. It has raised over $12.6 billion for public companies and completed approximately 160 merger, acquisition and advisory assignments. During 2009, ROTH assisted public companies in raising over $1.8 billion. 

　　About Telestone Technologies Corporation

　　Telestone is a leading innovator in local access network technologies and solutions.  Telestone is a global company with 26 sales offices throughout China and a network of international branch offices and sales agents. For more than 10 years, Telestone has been installing radio-frequency based 1G and 2G systems throughout China for China's leading telecommunications companies.  After intensive research on the demands of carriers in the 3G age, Telestone developed its third generation technology, WFDS(TM) (Wireless Fiber-Optics Distribution System), which provides a scalable, multi-access local access network solution for China's three cellular protocols. Telestone offers services that include project design, project manufacturing, installation, maintenance and after-sales support. Telestone Technologies has approximately 1,200 employees.
 
　　Safe Harbor Statement

　　This release contains certain "forward-looking statements" relating to the business of Telestone Technologies Corporation and its subsidiary companies. Forward looking statements can be identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, concentration in a single customer, raw material costs, market acceptance, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. Telestone Technologies is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.]]></description>
		<detail><![CDATA[　　BEIJING, March 10 /PRNewswire-Asia/ -- Telestone Technologies Corporation (Nasdaq: TSTC; "Telestone" or the "Company") a leading developer of local access network solutions, products, and engineering services today announced it will present at the 22nd Annual ROTH Capital Partners Conference to be held March 15-18 in Laguna Niguel, California. Presentation details are noted below.

　　Date:　　   March 15, 2010
　　Time:　　   3:00 PM PST (Track 3)
　　Location:   The Ritz Carlton, Laguna, Niguel
　　Presenter:  Mr. Ren Hu, Board Secretary

　　Conference participation is by invitation and registration is mandatory. For more information on the conference, contact your ROTH representative or visit http://www.roth.com . 

　　About ROTH Capital Partners, LLC

　　ROTH Capital Partners is a full service investment banking firm dedicated to the small-cap public market. Since its inception in 1984, ROTH has been an innovator in this space. ROTH has participated in underwriting IPOs for 
small-cap companies, has helped develop the PIPE financing structure, and more recently in underwriting offerings from shelf registration statements. ROTH was one of the first U.S. investment banks to focus on financing small-cap Chinese companies, and established a Representative Office in Shanghai in 2007.  ROTH's experience and capabilities in raising capital for public companies are the hallmarks of the firm. It has raised over $12.6 billion for public companies and completed approximately 160 merger, acquisition and advisory assignments. During 2009, ROTH assisted public companies in raising over $1.8 billion. 

　　About Telestone Technologies Corporation

　　Telestone is a leading innovator in local access network technologies and solutions.  Telestone is a global company with 26 sales offices throughout China and a network of international branch offices and sales agents. For more than 10 years, Telestone has been installing radio-frequency based 1G and 2G systems throughout China for China's leading telecommunications companies.  After intensive research on the demands of carriers in the 3G age, Telestone developed its third generation technology, WFDS(TM) (Wireless Fiber-Optics Distribution System), which provides a scalable, multi-access local access network solution for China's three cellular protocols. Telestone offers services that include project design, project manufacturing, installation, maintenance and after-sales support. Telestone Technologies has approximately 1,200 employees.
 
　　Safe Harbor Statement

　　This release contains certain "forward-looking statements" relating to the business of Telestone Technologies Corporation and its subsidiary companies. Forward looking statements can be identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, concentration in a single customer, raw material costs, market acceptance, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. Telestone Technologies is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.]]></detail>
		<source><![CDATA[SOURCE  Telestone Technologies Corporation]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100198611-1.html</link>
		<title>UPDATE: Zhongpin Inc. to Host Fourth Quarter and Full Year 2009 Earnings Conference Call on Friday, March 12, 2010</title>
		<author>PR Newswire Asia</author>
		
		<category>Food/Beverages/Retail</category>
		
		<pubDate>Wed, 10 Mar 2010 21:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012748279266004f</guid>
		<description><![CDATA[　　BEIJING and CHANGGE, China, March 10 /PRNewswire-Asia-FirstCall/ -- Zhongpin Inc. ("Zhongpin", Nasdaq: HOGS), a leading meat and food processing company in the People's Republic of China, today announced that it will host its fourth quarter and full year 2009 earnings conference call and live webcast at 8:00 a.m. Eastern Standard Time on Friday, March 12, 2010 (which is 9:00 p.m. in China on the same day).
　　
　　The dial-in details for the live conference call are:
　　 U.S. toll-free number　　　　   1-877-538-6619
　　 International dial-in number　　+852-3005-2050 (CORRECTED NUMBER)
　　 Mainland China toll-free number 400-681-6949
　　 Participant PIN code　　　　　　326957#


　　The live webcast and archive of the conference call will be available on the Investor Relations section of Zhongpin's website at http://www.zpfood.com . 
　　A telephone replay of the call will be available after the conclusion of the conference call through 9:00 a.m. Eastern Daylight Time, April 11, 2010. The dial-in details for the telephone replay are:

　　 U.S. toll-free number　　　　   1-866-753-0743
　　 International dial-in number　　+852-3005-2020
　　 Conference reference　　　　　　145136#

　　About Zhongpin
　　Zhongpin Inc. is a meat and food processing company that specializes in pork and pork products, fruits, and vegetables in China. Its distribution network in China covers 20 provinces plus Beijing, Shanghai, Tianjin, and Chongqing and includes more than 3,000 retail outlets. Zhongpin's export markets include the European Union and Southeast Asia. For more information about Zhongpin, please visit Zhongpin's website at http://www.zpfood.com .

　　Safe harbor statement
　　Certain statements in this news release may be forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Zhongpin has based its forward-looking statements largely on its current expectations and projections about future events and trends that it believes may affect its business strategy, results of operations, financial condition, and financing needs. 
　　These projections involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include but are not limited to such factors as downturns in the Chinese economy, unanticipated changes in product demand, any effect from the A(H1N1) virus on Zhongpin's market or sales, interruptions in the supply of live pigs and or raw pork, poor performance of the retail distribution network, delivery delays, freezer facility malfunctions, Zhongpin's ability to build and commence new production facilities according to intended timelines, the ability to prepare Zhongpin for growth, the ability to predict Zhongpin's future financial performance and financing ability, changes in regulations, and other information detailed in Zhongpin's filings with the United States Securities and Exchange Commission. 
　　You are urged to consider these factors carefully in evaluating Zhongpin's forward-looking statements and are cautioned not to place undue reliance on those forward-looking statements, which are qualified in their entirety by this cautionary statement. All information provided in this news release is as of the date of this release. Zhongpin does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.

　　For more information, please contact:

　　Zhongpin Inc.
　　 Mr. Sterling Song (English and Chinese)
　　 Investor Relations Manager
　　 Tel:　　+86-10-8286-1788 x101 in Beijing
　　 Email:  ir@zhongpin.com

　　 Mr. Warren (Feng) Wang (English and Chinese)
　　 Chief Financial Officer
　　 Tel:　　+86-10-8286-1788 x104 in Beijing
　　 Email:  warren.wang@zhongpin.com

　　Christensen
　　 Mr. Yuanyuan Chen (English and Chinese)
　　 Mobile: +86-139-2337-7882 in Beijing
　　 Email:  ychen@christensenir.com

　　 Mr. Tom Myers (English)
　　 Mobile: +86-139-1141-3520 in Beijing
　　 Email:  tmyers@christensenir.com

　　 Ms. Kathy Li (English and Chinese)
　　 Tel:　　+1-212-618-1978 in the USA
　　 Email:  kli@christensenir.com

]]></description>
		<detail><![CDATA[　　BEIJING and CHANGGE, China, March 10 /PRNewswire-Asia-FirstCall/ -- Zhongpin Inc. ("Zhongpin", Nasdaq: HOGS), a leading meat and food processing company in the People's Republic of China, today announced that it will host its fourth quarter and full year 2009 earnings conference call and live webcast at 8:00 a.m. Eastern Standard Time on Friday, March 12, 2010 (which is 9:00 p.m. in China on the same day).
　　
　　The dial-in details for the live conference call are:
　　 U.S. toll-free number　　　　   1-877-538-6619
　　 International dial-in number　　+852-3005-2050 (CORRECTED NUMBER)
　　 Mainland China toll-free number 400-681-6949
　　 Participant PIN code　　　　　　326957#


　　The live webcast and archive of the conference call will be available on the Investor Relations section of Zhongpin's website at http://www.zpfood.com . 
　　A telephone replay of the call will be available after the conclusion of the conference call through 9:00 a.m. Eastern Daylight Time, April 11, 2010. The dial-in details for the telephone replay are:

　　 U.S. toll-free number　　　　   1-866-753-0743
　　 International dial-in number　　+852-3005-2020
　　 Conference reference　　　　　　145136#

　　About Zhongpin
　　Zhongpin Inc. is a meat and food processing company that specializes in pork and pork products, fruits, and vegetables in China. Its distribution network in China covers 20 provinces plus Beijing, Shanghai, Tianjin, and Chongqing and includes more than 3,000 retail outlets. Zhongpin's export markets include the European Union and Southeast Asia. For more information about Zhongpin, please visit Zhongpin's website at http://www.zpfood.com .

　　Safe harbor statement
　　Certain statements in this news release may be forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Zhongpin has based its forward-looking statements largely on its current expectations and projections about future events and trends that it believes may affect its business strategy, results of operations, financial condition, and financing needs. 
　　These projections involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include but are not limited to such factors as downturns in the Chinese economy, unanticipated changes in product demand, any effect from the A(H1N1) virus on Zhongpin's market or sales, interruptions in the supply of live pigs and or raw pork, poor performance of the retail distribution network, delivery delays, freezer facility malfunctions, Zhongpin's ability to build and commence new production facilities according to intended timelines, the ability to prepare Zhongpin for growth, the ability to predict Zhongpin's future financial performance and financing ability, changes in regulations, and other information detailed in Zhongpin's filings with the United States Securities and Exchange Commission. 
　　You are urged to consider these factors carefully in evaluating Zhongpin's forward-looking statements and are cautioned not to place undue reliance on those forward-looking statements, which are qualified in their entirety by this cautionary statement. All information provided in this news release is as of the date of this release. Zhongpin does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.

　　For more information, please contact:

　　Zhongpin Inc.
　　 Mr. Sterling Song (English and Chinese)
　　 Investor Relations Manager
　　 Tel:　　+86-10-8286-1788 x101 in Beijing
　　 Email:  ir@zhongpin.com

　　 Mr. Warren (Feng) Wang (English and Chinese)
　　 Chief Financial Officer
　　 Tel:　　+86-10-8286-1788 x104 in Beijing
　　 Email:  warren.wang@zhongpin.com

　　Christensen
　　 Mr. Yuanyuan Chen (English and Chinese)
　　 Mobile: +86-139-2337-7882 in Beijing
　　 Email:  ychen@christensenir.com

　　 Mr. Tom Myers (English)
　　 Mobile: +86-139-1141-3520 in Beijing
　　 Email:  tmyers@christensenir.com

　　 Ms. Kathy Li (English and Chinese)
　　 Tel:　　+1-212-618-1978 in the USA
　　 Email:  kli@christensenir.com

]]></detail>
		<source><![CDATA[SOURCE  Zhongpin Inc.]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100195411-1.html</link>
		<title>Lotus Pharmaceuticals Reports Groundbreaking Ceremony</title>
		<author>PR Newswire Asia</author>
		
		<category>Health</category>
		
		<pubDate>Wed, 10 Mar 2010 21:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec0127474486ce003a</guid>
		<description><![CDATA[

　　BEIJING, March 10 /PRNewswire-Asia-FirstCall/ -- Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company"), a growing developer and producer of prescription drugs and licensed national seller of pharmaceutical products in the People's Republic of China ("PRC"), reported the groundbreaking ceremony on March 9 to construct a new building complex on the grounds of its production facility in Beijing.  

　　Officials of Beijing municipal and Chaoyang district governments, officers of the China State Food &amp; Drug, and representatives of both state-owned and private pharmaceutical companies attended the ceremony.  

　　CEO, Zhongyi Liu, welcomed the guests. "After a year of planning, we are pleased to start the construction of the new building complex and expect to finish the construction by July, interior decoration by September and GMP certification by December of this year," he said. "This is a new page for Lotus' development and it will provide important impetus to profitable growth, which is anticipated to reach $150 million in annual sales during the first year after the facility is fully operational." 

　　The new nine-floor building complex will be used for offices, research and development, production, and modern storage. Until the building complex is complete, interim production of the drugs to be produced at the new facility will be produced by third parties.　　

　　About Lotus Pharmaceuticals, Inc. ( http://www.lotuspharma.com ) 

　　Lotus Pharmaceuticals, Inc. is a growing developer and producer of prescription drugs and a licensed national seller of pharmaceutical items in the People's Republic of China. Lotus operates through its two controlled entities: Liang Fang Pharmaceutical, Ltd. and En Ze Jia Shi Pharmaceutical, Ltd. Lotus' current drug development pipeline is focused on the treatment of cerebro-cardiovascular disease, asthma, and diabetes. Liang Fang sells drugs directly and indirectly through its national sales channels to hospitals, clinics and drugs stores in 30 provinces of the PRC.

　　Safe Harbor Statement 

　　This press release contains "forward-looking statements" within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intent," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may," or words or expressions of similar meaning. Such statements are not guarantees of future performance and could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including, but not limited to, changes from anticipated levels of sales, future national or regional economic and competitive and regulatory conditions, changes in relationships with customers, access to capital, increased costs, difficulties in developing and marketing new products, marketing existing products, customer acceptance of existing and new products, the time to get new drugs approved by the State Food and Drug Administration and other factors. Additional information regarding risks can be found in the Company's Annual Report on Form 10K and its other filings with the SEC. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.

　　For more information, please contact:

　　Lotus Pharmaceuticals, Inc.
　　 Yan ZENG, CFO
　　 Tel:   +86-10-6389-9868
　　 Email: zy@lotuspharma.com 

]]></description>
		<detail><![CDATA[

　　BEIJING, March 10 /PRNewswire-Asia-FirstCall/ -- Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company"), a growing developer and producer of prescription drugs and licensed national seller of pharmaceutical products in the People's Republic of China ("PRC"), reported the groundbreaking ceremony on March 9 to construct a new building complex on the grounds of its production facility in Beijing.  

　　Officials of Beijing municipal and Chaoyang district governments, officers of the China State Food &amp; Drug, and representatives of both state-owned and private pharmaceutical companies attended the ceremony.  

　　CEO, Zhongyi Liu, welcomed the guests. "After a year of planning, we are pleased to start the construction of the new building complex and expect to finish the construction by July, interior decoration by September and GMP certification by December of this year," he said. "This is a new page for Lotus' development and it will provide important impetus to profitable growth, which is anticipated to reach $150 million in annual sales during the first year after the facility is fully operational." 

　　The new nine-floor building complex will be used for offices, research and development, production, and modern storage. Until the building complex is complete, interim production of the drugs to be produced at the new facility will be produced by third parties.　　

　　About Lotus Pharmaceuticals, Inc. ( http://www.lotuspharma.com ) 

　　Lotus Pharmaceuticals, Inc. is a growing developer and producer of prescription drugs and a licensed national seller of pharmaceutical items in the People's Republic of China. Lotus operates through its two controlled entities: Liang Fang Pharmaceutical, Ltd. and En Ze Jia Shi Pharmaceutical, Ltd. Lotus' current drug development pipeline is focused on the treatment of cerebro-cardiovascular disease, asthma, and diabetes. Liang Fang sells drugs directly and indirectly through its national sales channels to hospitals, clinics and drugs stores in 30 provinces of the PRC.

　　Safe Harbor Statement 

　　This press release contains "forward-looking statements" within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intent," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may," or words or expressions of similar meaning. Such statements are not guarantees of future performance and could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including, but not limited to, changes from anticipated levels of sales, future national or regional economic and competitive and regulatory conditions, changes in relationships with customers, access to capital, increased costs, difficulties in developing and marketing new products, marketing existing products, customer acceptance of existing and new products, the time to get new drugs approved by the State Food and Drug Administration and other factors. Additional information regarding risks can be found in the Company's Annual Report on Form 10K and its other filings with the SEC. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.

　　For more information, please contact:

　　Lotus Pharmaceuticals, Inc.
　　 Yan ZENG, CFO
　　 Tel:   +86-10-6389-9868
　　 Email: zy@lotuspharma.com 

]]></detail>
		<source><![CDATA[SOURCE  Lotus Pharmaceuticals, Inc.]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100196511-1.html</link>
		<title>Asia-Pacific Oil and Gas Pros Lead Industry in Workplace Adoption of Social Media, Reports Microsoft-Accenture Poll</title>
		<author>PR Newswire Asia</author>
		
		<category>Energy/Natural Sources </category>
		
		<pubDate>Wed, 10 Mar 2010 21:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec0127462bef630019</guid>
		<description><![CDATA[Findings reveal Europe, Middle East and Africa on board mostly for finding resources; the Americas value knowledge transfer capabilities.


　　HOUSTON, March 10 /PRNewswire-Asia/ -- Oil and gas industry professionals in Asia Pacific lead the industry in the use of social media and collaboration tools at work, reports recent Microsoft Corp. and Accenture survey findings unveiled at CERAWeek 2010, with three out of four respondents from that region saying social media tools improve their work performance.

　　( Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO )

　　The Microsoft and Accenture "Oil &amp; Gas Collaboration Survey 2010," which polled 275 professionals from the Americas, Europe, Middle East, Africa and Asia Pacific, found that industry workers in Asia Pacific significantly led those in other regions in the business use of social media tools such as instant messaging, videoconferencing, social networking sites, mobile phone text messaging, video or photo sharing, and the use of blogs and microblogs, sometimes surpassing their peers in other regions by margins of 10 to one. In fact, 37 percent of respondents from Asia Pacific stated social media is "very valuable" for work collaboration.

　　"Asia Pacific, with its rapidly growing demand for energy, will set the oil agenda of the future, so driving increased productivity, enhanced collaboration and more efficient operations is of top importance in this region," said Albrecht "Ali" Ferling, Ph.D., Microsoft managing director, Worldwide Oil and Gas Industries. "Oil and gas professionals in Asia Pacific clearly have their sights set on adopting the newest technologies to help them keep up with the growing demand for energy."

　　Drive to Locate Information in EMEA

　　Over one-third of Europe, Middle East and Africa (EMEA) respondents reported they spend more time in collaboration this year than last. Sixty-two percent of them, however, said that collaboration was often hindered by the inability to find exact resources, including people and information. Three out of four EMEA professionals said social media was valuable for business, and over half reported using social media primarily as a search tool, with many more in EMEA choosing to use wikis for business purposes than any other region.

　　Americas Adjust to Changing Work Force

　　When asked where they see the most value in social media for collaboration, the top answer of workers in the Americas was "documenting and transferring knowledge." This response tracks with the 61 percent of all respondents who said that "scarcity of skills/talent due to shrinking or aging work force" is the global industry trend most often driving their need to collaborate. However, 40 percent of respondents from the Americas said they are not currently using any public or company social media tools in the workplace. While half of respondents from all regions said their companies were on board but not widely implementing social media at this time, one in four from the Americas said their companies were not open to the adoption and implementation of these tools, a higher response than from Asia Pacific (14 percent) and EMEA (17 percent).

　　James Arnott, Accenture senior executive in Energy industry group's consulting practice said, "Companies slow to embrace collaboration technologies are missing strategic opportunities to leverage tools to drive work-force utilization and improved business and operational performance. The high rate of usage in emerging markets reflects those companies' rapid adoption of new technologies to provide differentiated levels of work force, operations and business performance - this is creating new levels of competitiveness. The key finding that individuals, work groups and teams around the world are driving the use of collaboration tools within their company is indicative of the widespread need for knowledge-sharing and improved productivity through collaboration. It also highlights the increasing use of technology to support a critical shortage of skills and experience within the oil and gas industry."

　　Three out of four professionals in all regions cited complex projects as the largest workplace factor driving collaboration, with 21 percent from the Americas saying they use social media to manage capital projects. Beyond that, geographic responses varied: Americas felt strong pressure to push for innovation to stay competitive (35 percent), while Asia Pacific (43 percent) and EMEA (34 percent) said the new tools help them meet the demand for frequent or detailed reporting to management.

　　Overall survey results reveal that nearly 75 percent of oil and gas professionals worldwide see value in using social media and collaboration tools at work -- an 83 percent jump from responses one year ago.

　　About Accenture

　　Accenture is a global management consulting, technology services and outsourcing company, with more than 176,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world's most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$21.58 billion for the fiscal year ended Aug. 31, 2009. Its home page is http://www.accenture.com .

　　About Microsoft

　　Founded in 1975, Microsoft (Nasdaq: MSFT) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

　　For more information about Microsoft Manufacturing:

　　- Microsoft News Center: http://www.microsoft.com/presspass/presskits/industries/manufacturing/Default.aspx

　　- Oil and Gas Industry home page: http://www.microsoft.com/oilandgas]]></description>
		<detail><![CDATA[Findings reveal Europe, Middle East and Africa on board mostly for finding resources; the Americas value knowledge transfer capabilities.


　　HOUSTON, March 10 /PRNewswire-Asia/ -- Oil and gas industry professionals in Asia Pacific lead the industry in the use of social media and collaboration tools at work, reports recent Microsoft Corp. and Accenture survey findings unveiled at CERAWeek 2010, with three out of four respondents from that region saying social media tools improve their work performance.

　　( Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO )

　　The Microsoft and Accenture "Oil &amp; Gas Collaboration Survey 2010," which polled 275 professionals from the Americas, Europe, Middle East, Africa and Asia Pacific, found that industry workers in Asia Pacific significantly led those in other regions in the business use of social media tools such as instant messaging, videoconferencing, social networking sites, mobile phone text messaging, video or photo sharing, and the use of blogs and microblogs, sometimes surpassing their peers in other regions by margins of 10 to one. In fact, 37 percent of respondents from Asia Pacific stated social media is "very valuable" for work collaboration.

　　"Asia Pacific, with its rapidly growing demand for energy, will set the oil agenda of the future, so driving increased productivity, enhanced collaboration and more efficient operations is of top importance in this region," said Albrecht "Ali" Ferling, Ph.D., Microsoft managing director, Worldwide Oil and Gas Industries. "Oil and gas professionals in Asia Pacific clearly have their sights set on adopting the newest technologies to help them keep up with the growing demand for energy."

　　Drive to Locate Information in EMEA

　　Over one-third of Europe, Middle East and Africa (EMEA) respondents reported they spend more time in collaboration this year than last. Sixty-two percent of them, however, said that collaboration was often hindered by the inability to find exact resources, including people and information. Three out of four EMEA professionals said social media was valuable for business, and over half reported using social media primarily as a search tool, with many more in EMEA choosing to use wikis for business purposes than any other region.

　　Americas Adjust to Changing Work Force

　　When asked where they see the most value in social media for collaboration, the top answer of workers in the Americas was "documenting and transferring knowledge." This response tracks with the 61 percent of all respondents who said that "scarcity of skills/talent due to shrinking or aging work force" is the global industry trend most often driving their need to collaborate. However, 40 percent of respondents from the Americas said they are not currently using any public or company social media tools in the workplace. While half of respondents from all regions said their companies were on board but not widely implementing social media at this time, one in four from the Americas said their companies were not open to the adoption and implementation of these tools, a higher response than from Asia Pacific (14 percent) and EMEA (17 percent).

　　James Arnott, Accenture senior executive in Energy industry group's consulting practice said, "Companies slow to embrace collaboration technologies are missing strategic opportunities to leverage tools to drive work-force utilization and improved business and operational performance. The high rate of usage in emerging markets reflects those companies' rapid adoption of new technologies to provide differentiated levels of work force, operations and business performance - this is creating new levels of competitiveness. The key finding that individuals, work groups and teams around the world are driving the use of collaboration tools within their company is indicative of the widespread need for knowledge-sharing and improved productivity through collaboration. It also highlights the increasing use of technology to support a critical shortage of skills and experience within the oil and gas industry."

　　Three out of four professionals in all regions cited complex projects as the largest workplace factor driving collaboration, with 21 percent from the Americas saying they use social media to manage capital projects. Beyond that, geographic responses varied: Americas felt strong pressure to push for innovation to stay competitive (35 percent), while Asia Pacific (43 percent) and EMEA (34 percent) said the new tools help them meet the demand for frequent or detailed reporting to management.

　　Overall survey results reveal that nearly 75 percent of oil and gas professionals worldwide see value in using social media and collaboration tools at work -- an 83 percent jump from responses one year ago.

　　About Accenture

　　Accenture is a global management consulting, technology services and outsourcing company, with more than 176,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world's most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$21.58 billion for the fiscal year ended Aug. 31, 2009. Its home page is http://www.accenture.com .

　　About Microsoft

　　Founded in 1975, Microsoft (Nasdaq: MSFT) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

　　For more information about Microsoft Manufacturing:

　　- Microsoft News Center: http://www.microsoft.com/presspass/presskits/industries/manufacturing/Default.aspx

　　- Oil and Gas Industry home page: http://www.microsoft.com/oilandgas]]></detail>
		<source><![CDATA[SOURCE  Microsoft Corp.]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100198411-1.html</link>
		<title>China Medicine Corporation Applies to List on NASDAQ Global Market</title>
		<author>PR Newswire Asia</author>
		
		<category>Finance</category>
		
		<category>Health</category>
		
		<pubDate>Wed, 10 Mar 2010 21:00:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec012748204c01004c</guid>
		<description><![CDATA[　　GUANGZHOU, China, March 10 /PRNewswire-Asia/ -- China Medicine Corporation (OTC Bulletin Board: CHME) ("China Medicine" or "the Company"), primarily a leading distributor and a developer of Western pharmaceuticals, traditional Chinese medicines ("TCM"), and other nutriceuticals, announced today that the the Company has received comments from Nasdaq's Listing Qualifications Department in response to its application for listing its common stock on the NASDAQ Global Market. China Medicine submitted the application earlier this year, following the board of directors' approval of the Company's uplisting.
　　"With the NASDAQ Global Market listing process now underway, we look forward to reaching this significant milestone in our development as a U.S. publicly-traded company," stated Mr. Senshan Yang, Chairman and CEO of China Medicine Corporation. "As a growing public company, management and the board believe it is in the best interest of our shareholders for the Company to apply for the listing on NASDAQ. Such a move, if approved, can help to broaden the Company's shareholder base, provide greater trading liquidity and raise the Company's profile in the investment community."
　　Comments from Nasdaq's Listing Qualifications Department primarily focused on confirmation and supporting details related to factual matters. China Medicine is working expeditiously to submit a response for NASDAQ's review and believes that it will satisfy all of the listing qualifications associated with its application. The Company's common stock will continue to trade on the OTC Bulletin Board under its current symbol, CHME, until the Company is notified of its acceptance. The Company hopes to receive approval to list its common shares on the Nasdaq Global Market in the near future.

　　About China Medicine Corporation
　　China Medicine Corporation is a developer and leading distributor of prescription and over-the-counter ("OTC") drugs, traditional Chinese medicine products, herbs and dietary-supplements, medical devices, and medical formulations in China. The Company also has its research and development force for certain products it manufactures through OEM arrangement and distributes. The Company distributes its products to wholesale distributors including more than 300 hospitals and 500 medicine companies that sell to over 2,000 drug stores in 28 provinces throughout China. The Company actively develops a number of proprietary products for a variety of uses, including oncology, high blood pressure and the removal of toxins from food and animal feeds. For more information visit the Company's website at http://www.chinamedicinecorp.com .

　　Cautionary Statement
　　This press release contains forward-looking statements concerning the Company's business and products. The Company's actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, approval to list the Company's common stock on NASDAQ and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risk factors detailed in the Company's reports filed with the Securities and Exchange Commission. China Medicine Corporation undertakes no duty to revise or update any forward-looking statement to reflect events or circumstances after the date of this release.

　　For further information, please contact:

　　Company Contact:

　　China Medicine Corp.
　　 Mr. Robert Lu
　　 Chief Financial Officer	
　　 Tel:   +86-20-8739-1718
　　 Email: konzern08@163.com

　　Investor Relations Contact:

　　CCG Investor Relations
　　 Ms. Lei Huang, Account Manager
　　 Tel:   +1-646-833-3417 (NY Office)
　　 Email: lei.huang@ccgir.com
　　 Web:   http://www.ccgirasia.com

　　 Mr. Crocker Coulson, President
　　 Tel:   +1-646-213-1915 (NY Office)
　　 Email: crocker.coulson@ccgir.com]]></description>
		<detail><![CDATA[　　GUANGZHOU, China, March 10 /PRNewswire-Asia/ -- China Medicine Corporation (OTC Bulletin Board: CHME) ("China Medicine" or "the Company"), primarily a leading distributor and a developer of Western pharmaceuticals, traditional Chinese medicines ("TCM"), and other nutriceuticals, announced today that the the Company has received comments from Nasdaq's Listing Qualifications Department in response to its application for listing its common stock on the NASDAQ Global Market. China Medicine submitted the application earlier this year, following the board of directors' approval of the Company's uplisting.
　　"With the NASDAQ Global Market listing process now underway, we look forward to reaching this significant milestone in our development as a U.S. publicly-traded company," stated Mr. Senshan Yang, Chairman and CEO of China Medicine Corporation. "As a growing public company, management and the board believe it is in the best interest of our shareholders for the Company to apply for the listing on NASDAQ. Such a move, if approved, can help to broaden the Company's shareholder base, provide greater trading liquidity and raise the Company's profile in the investment community."
　　Comments from Nasdaq's Listing Qualifications Department primarily focused on confirmation and supporting details related to factual matters. China Medicine is working expeditiously to submit a response for NASDAQ's review and believes that it will satisfy all of the listing qualifications associated with its application. The Company's common stock will continue to trade on the OTC Bulletin Board under its current symbol, CHME, until the Company is notified of its acceptance. The Company hopes to receive approval to list its common shares on the Nasdaq Global Market in the near future.

　　About China Medicine Corporation
　　China Medicine Corporation is a developer and leading distributor of prescription and over-the-counter ("OTC") drugs, traditional Chinese medicine products, herbs and dietary-supplements, medical devices, and medical formulations in China. The Company also has its research and development force for certain products it manufactures through OEM arrangement and distributes. The Company distributes its products to wholesale distributors including more than 300 hospitals and 500 medicine companies that sell to over 2,000 drug stores in 28 provinces throughout China. The Company actively develops a number of proprietary products for a variety of uses, including oncology, high blood pressure and the removal of toxins from food and animal feeds. For more information visit the Company's website at http://www.chinamedicinecorp.com .

　　Cautionary Statement
　　This press release contains forward-looking statements concerning the Company's business and products. The Company's actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, approval to list the Company's common stock on NASDAQ and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risk factors detailed in the Company's reports filed with the Securities and Exchange Commission. China Medicine Corporation undertakes no duty to revise or update any forward-looking statement to reflect events or circumstances after the date of this release.

　　For further information, please contact:

　　Company Contact:

　　China Medicine Corp.
　　 Mr. Robert Lu
　　 Chief Financial Officer	
　　 Tel:   +86-20-8739-1718
　　 Email: konzern08@163.com

　　Investor Relations Contact:

　　CCG Investor Relations
　　 Ms. Lei Huang, Account Manager
　　 Tel:   +1-646-833-3417 (NY Office)
　　 Email: lei.huang@ccgir.com
　　 Web:   http://www.ccgirasia.com

　　 Mr. Crocker Coulson, President
　　 Tel:   +1-646-213-1915 (NY Office)
　　 Email: crocker.coulson@ccgir.com]]></detail>
		<source><![CDATA[SOURCE  China Medicine Corp.]]></source>
	</item>

	<item>
		<link>http://www.prnasia.com/pr/10/03/100198911-1.html</link>
		<title>ReneSola Ltd Announces Fourth Quarter and Full Year 2009 Results</title>
		<author>PR Newswire Asia</author>
		
		<category>Energy/Natural Sources </category>
		
		<category>Finance</category>
		
		<pubDate>Wed, 10 Mar 2010 20:29:00 +0800</pubDate>
		<guid>4028ee8c2743f0ec0127480bfd1b004a</guid>
		<description><![CDATA[Company Achieves Record Quarterly and Full Year Product Shipment Volumes; Announces 62 MW Solar Module OEM Agreement

　　JIASHAN, China, March 10 /PRNewswire-Asia/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL) (AIM: SOLA), a leading global manufacturer of solar wafers and provider of solar module original equipment manufacturer ("OEM") services, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2009.
　　(Logo: http://www.prnasia.com/xprn/sa/200806261902.jpg )
　　
　　Fourth Quarter 2009 Financial and Operating Highlights
　　-- Total solar product shipments in Q4 2009 were a record 202.9 megawatts 
　　   ("MW"), an increase of 38.1% from 146.9 MW in Q3 2009. 
　　-- Q4 2009 net revenues were US$179.9 million, an increase of 27.7% from 
　　   US$140.9 million in Q3 2009.
　　-- Q4 2009 gross profit was US$4.9 million with a gross profit margin of 
　　   2.7%. 
　　-- Q4 2009 operating loss was US$20.5 million with an operating margin of 
　　   negative 11.4%. 
　　-- Q4 2009 net loss was US$19.9 million, representing basic and diluted 
　　   losses per share of US$0.12, and basic and diluted losses per American 
　　   depositary share ("ADS") of US$0.23.
　　-- Excluding provisions against doubtful receivables, adjusted net loss 
　　   was US$5.3 million, representing basic and diluted losses per share of
　　   US$0.03, and basic and diluted losses per ADS of US$0.06. 

　　Full Year 2009 Financial and Operating Highlights
　　-- Total solar product shipments for the full year 2009 exceeded the 
　　   Company's guidance of 490 MW to 520 MW and were a record 526.6 MW, an 
　　   increase of 50.4% from 350.1 MW in the full year 2008.
　　-- Full year 2009 net revenues were US$510.4 million, exceeding the 
　　   Company's guidance of US$470 million to US$500 million. 
　　-- Full year 2009 gross loss was US$37.2 million and a gross profit margin 
　　   of negative 7.3%. 
　　-- Full year 2009 operating loss was US$90.6 million and an operating 
　　   margin of negative 17.7%. 
　　-- Full year 2009 net loss was US$63.7 million, representing basic and 
　　   diluted losses per share of US$0.43, and basic and diluted losses per 
　　   ADS of US$0.86. 
　　-- Excluding inventory write-downs and provisions against doubtful 
　　   receivables, full year 2009 adjusted net profit was US$22.2 million, 
　　   representing basic earnings per share of US$0.15, and basic earnings 
　　   per ADS of US$0.30.



　　　　　　　　　　　　　　　　　　Three months   Three months   Three months
　　　　　　　　　　　　　　　　　　   ended　　　　  ended　　　　   ended　　 
　　　　　　　　　　　　　　　　　　 12/31/09　　   12/31/09　　　　12/31/08  
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Net revenue (US$000)　　　　　　   179,885　　   140,945　　　　 158,623 
　　Gross profit (loss)　　　　　　　　　　　　　　　　　　　　　　　　  
　　 (US$000)　　　　　　　　　　　　　　4,856　　　　 4,738　　　　(130,139)
　　Gross margin (%)　　　　　　　　　　   2.7%　　　　  3.4%　　　　 (82.0%)
　　Operating profit (loss)　　　　　　　　　　　　　　　　　　　　　　  
　　 (US$000)　　　　　　　　　　　　  (20,476)　　   (7,774)　　   (143,126)
　　Foreign exchange loss　　　　　　　　　　　　　　　　　　　　　　　　
　　 (US$000)　　　　　　　　　　　　　　 (495)　　　　  116　　　　  (1,052)
　　Profit (loss) for the　　　　　　　　　　　　　　　　　　　　　　　　
　　 period (US$000)　　　　　　　　   (19,882)　　  (10,171)　　   (128,275)



　　"We were pleased with our record shipment volumes for the fourth quarter and full year 2009 despite a challenging macro environment in 2009," said Li Xianshou, ReneSola's chief executive officer. "Our cost-competitive solar wafer and integrated solar module OEM manufacturing platform has proven effective in driving revenue and volume growth while helping to diversify business risks and further strengthening our core wafer customer relationships." 
　　Charles Bai, ReneSola's chief financial officer, added, "During the fourth quarter of 2009, we continued to improve our manufacturing efficiency while expanding our market share worldwide. We worked through the remainder of our high-cost raw materials and expect first quarter 2010 polysilicon cost to be below US$60 per kilogram. We also reduced our average wafer processing cost significantly to approximately US$0.34 per watt. With anticipated further cost reductions in each segment of our business and continuing strong demand for our products and services, we expect to return to profitability in the first quarter of 2010."

　　Results for the Fourth Quarter and Full Year 2009

　　Product Shipments
　　Total solar product shipments in Q4 2009 were 202.9 MW, an increase of 38.1% from 146.9 MW for Q3 2009, exceeding the Company's guidance. Total solar wafer and module shipments were 187.4 MW and 14.6 MW, respectively, representing increases of 39.5% and 35.2%, respectively, from Q3 2009. For the full year 2009, total product shipments were 526.6 MW, representing an increase of 50.4% from 350.1 MW in the full year 2008. 

　　Net Revenues
　　Net revenues for Q4 2009 were US$179.9 million, an increase of 27.7% from US$140.9 million for Q3 2009, exceeding the Company's guidance. Net revenues for Q4 2008 were US$158.6 million. For the full year 2009, ReneSola reported net revenues of US$510.4 million, representing a decrease of 23.9% from US$670.4 million in the full year 2008.

　　Gross Profit (Loss)
　　Gross profit for Q4 2009 was US$4.9 million, compared to gross profit of US$4.7 million in Q3 2009 and gross loss of US$130.1 million in Q4 2008. 
　　Gross loss for the full year 2009 was US$37.2 million, compared to gross loss of US$14.3 million in the full year 2008.

　　Operating Loss
　　Total operating expenses for Q4 2009 were US$25.3 million, an increase from US$12.5 million in Q3 2009 and US$13.0 million in Q4 2008. The sequential increase was primarily attributable to a provision of US$14.6 million against doubtful receivables from Linzhou Zhongsheng Semiconductor ("Linzhou Zhongshen") during the quarter. Total operating expenses for the full year 2009 were US$53.3 million, an increase from US$34.2 million in the full year 2008.
　　As previously announced, the Company sold its 49% equity interest in Linzhou Zhongsheng, a joint venture between the Company and Zhongsheng Steel Co. Ltd. (the "JV Partner") to its JV Partner in September 2008 at a total consideration of RMB200 million (US$29.3 million) under certain conditions. The agreement was amended in December 2008 stipulating that, of the total consideration payable to ReneSola, RMB40 million (US$5.9 million) would be paid in cash and RMB160 million (US$23.4 million) would be paid either as a credit through a discount to spot market price against future delivery of polysilicon from the JV, or in cash, at the Company's discretion. However, Linzhou Zhongsheng continued to fail in its obligations to deliver feedstock and the Company has decided to take action to collect the receivables in cash. A provision has been made against the receivables. 
　　Operating loss for Q4 2009 was US$20.5 million, compared to operating losses of US$7.8 million for Q3 2009 and US$143.1 million in Q4 2008. Adjusted operating loss for Q4 2009 was US$5.9 million excluding the provision for doubtful receivables. 
　　Operating loss for the full year 2009 was US$90.6 million, compared to US$48.5 million in the full year 2008. Adjusted operating loss for the full year 2009 was US$4.7 million excluding inventory write-downs and the provision for doubtful receivables. Operating margin for the full year 2009 was negative 17.7%, compared to negative 7.2% in the full year 2008. 

　　Loss Before Income Tax
　　Loss before income tax for Q4 2009 was US$22.5 million, compared to losses of US$11.5 million for Q3 2009 and US$146.9 million in Q4 2008. Loss before income tax for full year 2009 was US$99.7 million, compared to a loss of US$56.5 million for full year 2008. 

　　Taxation
　　A tax benefit of approximately US$2.6 million was recognized for Q4 2009, compared with tax benefits of US$1.4 million in Q3 2009 and US$18.3 million in Q4 2008. For the full year 2009, a tax benefit of US$36.0 million was recognized, primarily resulting from inventory write-downs, up from US$2.4 million in the full year 2008.

　　Net Loss Attributable to Holders of Ordinary Shares
　　Net loss attributable to holders of ordinary shares for Q4 2009 was US$19.9 million, compared to net losses attributable to holders of ordinary shares of US$10.2 million in Q3 2009 and US$128.3 million in Q4 2008. Adjusted net loss for Q4 2009 was US$5.3 million. 
　　Q4 2009 basic and diluted losses per share were US$0.12, and basic and diluted losses per ADS were US$0.23. Q3 2009 basic and diluted losses per share were US$0.07, and basic and diluted losses per ADS were US$0.14. One ADS is equivalent to two ordinary shares. 
　　Net loss for the full year 2009 was US$63.7 million, compared to net loss of US$54.9 million in the full year 2008. Adjusted net profit for the full year 2009 was US$22.2 million excluding inventory write-downs and the provision for doubtful receivables. 
　　Full year 2009 basic and diluted losses per share were US$0.43, and basic and diluted losses per ADS were US$0.86. Full year 2008 basic and diluted losses per share were US$0.43, and basic and diluted losses per ADS were US$0.86. 

　　Recent Business Developments

　　600 MW Solar Module OEM Agreement
　　As announced on February 11, 2010, ReneSola signed an OEM agreement to provide 600 MW of solar modules to a major global solar company over a period of three years. According to the terms of the contract, the Company will provide 200 MW of solar modules annually for three years commencing in 2010.

　　62 MW Solar Module OEM Agreement
　　In addition to the above agreement, the Company has recently signed an additional OEM agreement to provide 62 MW of solar modules to a major global solar company during 2010. 
　　CEO Li Xianshou commented, "Our two recent solar module OEM contracts represent important milestones for ReneSola as the company transitions into a leading global wafer company with expanded downstream OEM services. These contracts also demonstrate our ability to leverage our solid relationships with existing wafer customers to win additional OEM business." 
 
　　Sichuan Polysilicon Facility 
　　Phase I polysilicon trial production commenced in July 2009 and achieved production output of approximately 194 metric tonnes ("MT") in 2009, lower than previous estimates due to continuous system testing and trial runs. Production cost was higher than previously expected due to continuous trial runs, system testing, outsourced Trichlorosilane ("TCS") and minimal activated hydrogenation processes. With mechanical installation of TCS and hydrogenation equipment completed, trial production of integrated closed loop manufacturing for Phase I is expected in March 2010.
　　Phase II trial production commenced recently and will be incrementally integrated with Phase I. Full integration into the manufacturing system is expected within approximately four to five months. Once fully operational, the integrated closed loop manufacturing system is expected to reduce production costs to US$40 per kilogram by the end of 2010. The Company expects polysilicon production output in 2010 to be in the range of 1,500 MT to 1,900 MT. 

　　Convertible Bond Repurchase
　　During Q4 2009, the Company repurchased approximately US$65.0 million (equivalent to RMB444.1 million) aggregate principal amount of its RMB 928,700,000 U.S. Dollar Settled 1.0% Convertible Bonds due March 26, 2012 (the "Bonds"), for a total consideration of approximately US$64.3 million (equivalent to RMB439.3 million). The Company recognized a gain of approximately US$2.64 million. As of December 31, 2009, the Company had approximately US$32.5 million (equivalent to RMB221.7 million) of Bonds outstanding. 
　　ReneSola may from time-to-time seek to make additional repurchases of its Bonds. Such repurchases, if any, will depend on prevailing market conditions, the Company's liquidity requirements and other factors.

　　2010 Outlook
　　The Company has witnessed robust market demand in the beginning of 2010, which it expects to remain through the first half of 2010, with stabilizing polysilicon prices and increased wafer spot pricing. For Q1 2010, ReneSola expects total solar product shipments in the range of 215 MW to 230 MW, revenues in the range of US$195 million to US$205 million and gross profit margin to be in the range of 16% to 18%. Although the Company anticipates solar wafer price declines in the range of 10% to 15% in the second half of 2010 due to increased competition and feed-in tariff cuts in international markets such as Germany, the Company maintains its full year 2010 total solar product shipment guidance to be in the range of 900 MW to 950 MW. The Company expects to be profitable with average gross profit margin in the range of 17% to 20% for the full year 2010.  

　　Conference Call Information
　　ReneSola's management will host an earnings conference call on Wednesday, March 10, 2010 at 8 am U.S. Eastern Standard Time / 9 pm Beijing/Hong Kong time / 1 pm Greenwich Mean Time.
　　Dial-in details for the earnings conference call are as follows:

　　U.S. / International: +1-617-614-3473
　　United Kingdom:　　   +44-207-365-8426
　　Hong Kong:　　　　　　+852-3002-1672

　　Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is "ReneSola Call."
　　A replay of the conference call may be accessed by phone at the following number until March 17, 2010:

　　International:　　　　+1-617-801-6888
　　Passcode:　　　　　　 81970616

　　Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of ReneSola's website at http://www.renesola.com .

　　About ReneSola
　　ReneSola is a leading global manufacturer of solar wafers. Capitalizing on economies of scale, low cost production capabilities and technology innovations, ReneSola leverages its in-house virgin polysilicon and solar cell and module production capabilities to provide its customers with high-quality, cost-competitive solar wafer products and solar module OEM services. The company possesses a global network of suppliers and customers that include some of the leading global manufacturers of solar cells and modules. ReneSola's shares are traded on the New York Stock Exchange (NYSE: SOL) and the AIM of the London Stock Exchange (AIM: SOLA).

　　Safe Harbor Statement
　　This press release contains statements that constitute ''forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when we describe what we "believe," "expect" or "anticipate" will occur, what "will" or "could" happen, and other similar statements), you must remember that our expectations may not be correct, even though we believe that they are reasonable. We do not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in our filings with the U.S. Securities and Exchange Commission, including our annual report on Form 20-F. We undertake no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though our situation may change in the future.



　　　　　　　　　　　　　　　　　　　　　　　　   RENESOLA LTD
　　　　　　　　　　　　　　　　　　　　 Unaudited Consolidated Balance Sheet
　　　　　　　　　　　　　　　　　　　　　　   (US dollars in thousands)
　　　　　　　　　　　　　　　　　　　　　　December   September　　December
　　　　　　　　　　　　　　　　　　　　　　31, 2009　　30, 2009　　31, 2008
　　ASSETS
　　Current assets:
　　Cash and cash equivalents　　　　　　　　106,808　　  95,210　　 112,333
　　Restricted cash　　　　　　　　　　　　   25,266　　  28,852　　   5,958
　　Available for sale investment　　　　　　 12,474　　　　  --　　　　  --
　　Trade receivable, net of allowances
　　 for doubtful receivables　　　　　　　　107,987　　  86,780　　  43,160
　　Inventories, net of inventory
　　 provisions　　　　　　　　　　　　　　  137,844　　 162,196　　 193,036
　　Advances to suppliers, current
　　 portion　　　　　　　　　　　　　　　　  20,164　　  39,729　　  36,991
　　Amounts due from related parties　　　　　　 440　　　　 439　　　　 457
　　Value added tax recoverable　　　　　　   51,843　　  44,411　　  15,498
　　Prepaid expenses and other current
　　 assets　　　　　　　　　　　　　　　　　　7,326　　   6,184　　  13,722
　　Deferred tax assets, current portion　　  22,828　　  22,799　　  18,979
　　Total current assets　　　　　　　　　　 492,980　　 486,600　　 440,134

　　Property, plant and equipment, net　　   702,816　　 618,732　　 341,427
　　Prepaid land rent, net　　　　　　　　　　23,137　　  23,277　　  13,472
　　Other Intangible assets　　　　　　　　　　1,349　　   2,474　　　　  --
　　Deferred tax assets, non-current
　　 portion　　　　　　　　　　　　　　　　  36,470　　  36,020　　   2,340
　　Deferred convertible bond issue costs　　　　 86　　　　 549　　   1,970
　　Advances to suppliers, non-current
　　 portion　　　　　　　　　　　　　　　　　　  --　　  19,140　　  45,729
　　Advances for purchases of property,
　　 plant and equipment　　　　　　　　　　  20,840　　  76,948　　 161,705
　　Other long-term assets　　　　　　　　　　 2,840　　   1,582　　   1,011
　　Goodwill　　　　　　　　　　　　　　　　   5,323　　   5,323　　　　  --
　　TOTAL ASSETS　　　　　　　　　　　　   1,285,841   1,270,645   1,007,788

　　LIABILITIES AND SHAREHOLDERS' EQUITY

　　Current liabilities:
　　Short-term borrowings　　　　　　　　　　343,984　　 312,560　　 191,987
　　Accounts payable　　　　　　　　　　　　  93,406　　  78,414　　  37,942
　　Advances from customers, current
　　 portion　　　　　　　　　　　　　　　　  53,852　　  59,682　　  49,284
　　Amounts due to related parties　　　　　　　　24　　　　  40　　  11,863
　　Other current liabilities　　　　　　　　 71,332　　  74,116　　  42,060
　　Total current liabilities　　　　　　　　562,598　　 524,812　　 333,136

　　Convertible bond payable　　　　　　　　  32,475　　  99,330　　 138,904
　　Long-term borrowings　　　　　　　　　　 203,929　　 170,666　　  32,833
　　Advances from customers, non-current
　　 portion　　　　　　　　　　　　　　　　  78,578　　  99,428　　 105,203
　　Other long-term liabilities　　　　　　   10,858　　  20,880　　  15,624
　　Total liabilities　　　　　　　　　　　　888,438　　 915,116　　 625,700

　　Shareholders' equity
　　 Common shares　　　　　　　　　　　　   413,753　　 345,645　　 330,666
　　 Additional paid-in capital　　　　　　   21,065　　  20,410　　  17,769
　　 Retained earnings　　　　　　　　　　   (52,367)　　(32,483)　　 11,294
　　 Accumulated other comprehensive
　　  income　　　　　　　　　　　　　　　　  14,952　　  21,957　　  22,080
　　Total ReneSola Ltd. shareholders'
　　 equity　　　　　　　　　　　　　　　　  397,403　　 355,529　　 381,809

　　Non-controlling interests　　　　　　　　　　 --　　　　  --　　　　 279
　　Total equity　　　　　　　　　　　　　　 397,403　　 355,529　　 382,088

　　TOTAL LIABILITIES AND SHAREHOLDER'S
　　 EQUITY　　　　　　　　　　　　　　　　1,285,841   1,270,645   1,007,788



　　　　　　　　　　　　　　　　　　　　　　　　　　 RENESOLA LTD
　　　　　　　　　　　　　　 Unaudited Consolidated Statements of Income Data
　　　　　　　　　　　　   (US dollar in thousands, except ADS and share data)

　　　　　　　　　　　　　　　　　　   Three Months Three Months Three Months
　　　　　　　　　　　　　　　　　　　　  ended Dec　　ended Sep　　ended Dec 
　　　　　　　　　　　　　　　　　　　　   31, 2009　　 30, 2009　　 31, 2008

　　Net revenues　　　　　　　　　　　　　　179,885　　  140,945　　  158,623
　　Cost of revenues　　　　　　　　　　   (175,029)　　(136,207)　　(288,762)
　　Gross profit (loss)　　　　　　　　　　   4,856　　　　4,738　　 (130,139)

　　Operating expenses:
　　 Sales and marketing　　　　　　　　　　 (2,034)　　  (1,752)　　　　 (43)
　　 General and administrative　　　　　　 (20,776)　　  (5,809)　　  (9,465)
　　 Research and development　　　　　　　　(2,860)　　  (4,800)　　  (2,770)
　　 Impairment loss on property, plant
　　  and equipment　　　　　　　　　　　　　　  --　　　　   --　　　　 (763)
　　 Other general income (expenses)　　　　　　338　　　　 (151)　　　　  54
　　Total operating expenses　　　　　　　　(25,332)　　 (12,512)　　 (12,987)

　　Income (loss) from operations　　　　   (20,476)　　  (7,774)　　(143,126)

　　Non-operating (expenses) income:
　　 Interest income　　　　　　　　　　　　　　815　　　　  269　　　　  929
　　 Interest expenses　　　　　　　　　　   (4,950)　　  (4,152)　　  (3,692)
　　 Foreign exchange gain (loss)　　　　　　  (495)　　　　 116　　   (1,052)
　　 Debt conversion profit　　　　　　　　   2,642　　　　   --　　　　   --
　　Equity in earnings of investee　　　　　　   --　　　　   --　　　　   --
　　Total non-operating (expenses)
　　 income　　　　　　　　　　　　　　　　  (1,988)　　  (3,767)　　  (3,815)

　　Income (loss) before income tax　　　　 (22,464)　　 (11,541)　　(146,941)

　　Income tax benefit (expense)　　　　　　  2,582　　　　1,370　　   18,278
　　Net income (loss)　　　　　　　　　　   (19,882)　　 (10,171)　　(128,663)

　　Less: net (income) loss attributed
　　 to non-controlling interests　　　　　　　　--　　　　   --　　　　  388
　　Net income (loss) attributable to
　　 holders of ordinary shares　　　　　　 (19,882)　　 (10,171)　　(128,275)

　　Earnings (Loss) per share
　　 Basic　　　　　　　　　　　　　　　　　　(0.12)　　   (0.07)　　   (0.93)
　　 Diluted　　　　　　　　　　　　　　　　  (0.12)　　   (0.07)　　   (0.93)

　　Earnings (Loss) per ADS
　　 Basic　　　　　　　　　　　　　　　　　　(0.23)　　   (0.14)　　   (1.86)
　　 Diluted　　　　　　　　　　　　　　　　  (0.23)　　   (0.14)　　   (1.86)

　　Weighted average number of shares
　　 used in computing earnings per
　　 share
　　 Basic　　　　　　　　　　　　　　  171,277,086  141,624,912  137,624,912
　　 Diluted　　　　　　　　　　　　　　171,277,086  141,624,912  137,624,912


　　　　　　　　　　　　　　　　　　　　　　  For the year ended
　　　　　　　　　　　　　　　　　　　　　　　　 ended Dec 31,
　　　　　　　　　　　　　　　　　　　　　　   2009　　　　 2008

　　Net revenues　　　　　　　　　　　　　　510,405　　  670,366
　　Cost of revenues　　　　　　　　　　   (547,647)　　(684,676)
　　Gross profit (loss)　　　　　　　　　　 (37,242)　　 (14,310)

　　Operating expenses:
　　 Sales and marketing　　　　　　　　　　 (5,399)　　　　(620)
　　 General and administrative　　　　　　 (35,044)　　 (23,194)
　　 Research and development　　　　　　   (14,507)　　  (9,713)
　　 Impairment loss on property, plant
　　  and equipment　　　　　　　　　　　　　　  --　　　　 (763)
　　 Other general income (expenses)　　　　  1,634　　　　   84
　　Total operating expenses　　　　　　　　(53,316)　　 (34,206)

　　Income (loss) from operations　　　　   (90,558)　　 (48,516)

　　Non-operating (expenses) income:
　　 Interest income　　　　　　　　　　　　  1,716　　　　1,783
　　 Interest expenses　　　　　　　　　　  (17,122)　　 (11,869)
　　 Foreign exchange gain (loss)　　　　　　(1,433)　　  (3,097)
　　 Debt conversion profit　　　　　　　　   7,995　　　　   --
　　Equity in earnings of investee　　　　　　 (291)　　   5,175
　　Total non-operating (expenses)
　　 income　　　　　　　　　　　　　　　　  (9,135)　　  (8,008)

　　Income (loss) before income tax　　　　 (99,693)　　 (56,524)

　　Income tax benefit (expense)　　　　　　 36,032　　　　2,420
　　Net income (loss)　　　　　　　　　　   (63,661)　　 (54,104)

　　Less: net (income) loss attributed
　　 to non-controlling interests　　　　　　　　--　　　　 (802)
　　Net income (loss) attributable to
　　 holders of ordinary shares　　　　　　 (63,661)　　 (54,906)

　　Earnings (Loss) per share
　　 Basic　　　　　　　　　　　　　　　　　　(0.43)　　   (0.43)
　　 Diluted　　　　　　　　　　　　　　　　  (0.43)　　   (0.43)

　　Earnings (Loss) per ADS
　　 Basic　　　　　　　　　　　　　　　　　　(0.86)　　   (0.86)
　　 Diluted　　　　　　　　　　　　　　　　  (0.86)　　   (0.86)

　　Weighted average number of shares
　　 used in computing earnings per
　　 share
　　 Basic　　　　　　　　　　　　　　  147,553,679  127,116,062
　　 Diluted　　　　　　　　　　　　　　147,553,679  127,116,062



　　　　　　　　　　　　　　　　　　　　　　  RENESOLA LTD
　　　　　　　　　　　　　　   Unaudited Consolidated Statements of Cash Flow
　　　　　　　　　　　　　　　　　　   (US dollar in thousands)
　　　　　　　　　　　　　　   Six　　   Six　　　　Six   
　　　　　　　　　　　　　　  Months　　Months　　 Months
　　　　　　　　　　　　　　  ended　　 ended　　  ended   For the year ended
　　　　　　　　　　　　　　  Dec 31,   Jun 30,　　Dec 31,　　 ended Dec 31,
　　　　　　　　　　　　　　   2009　　  2009　　  2008　　  2009　　   2008

　　Operation activity:
　　Net income (loss)　　　　 (30,053)  (33,608)  (95,890)  (63,661)  (54,906)
　　Adjustment to reconcile
　　 net income to net cash
　　 used in operation
　　 activity:
　　 Non-controlling
　　  interests　　　　　　　　　　--　　　　--　　  (320)　　   --　　   802
　　 Equity in earnings of
　　  investee　　　　　　　　　　 --　　   291　　(5,175)　　  291　　(5,175)
　　 Inventory write-down　　   3,206　　68,047   132,568　　71,253   132,568
　　 Provision for purchase
　　  commitment　　　　　　   (5,960)　　   --　　 5,862　　(5,960)　　5,862
　　 Depreciation and
　　  amortization　　　　　　 19,288　　13,457　　 9,405　　32,745　　15,517
　　 Amortization of
　　  deferred convertible
　　  bond issuances costs
　　  and premium　　　　　　   2,085　　 1,426　　 1,593　　 3,511　　 3,121
　　 Allowance of doubtful
　　  receivables　　　　　　  15,202　　   631　　 3,774　　15,833　　 4,027
　　 Prepaid land use right
　　  expensed　　　　　　　　　　313　　   127　　   140　　   440　　   257
　　 Change in fair value of
　　  derivatives　　　　　　　　  --　　　　(1)　　   (1)　　   (1)　　 (574)
　　 Share-based
　　  compensation　　　　　　  1,435　　 1,861　　 1,242　　 3,296　　 3,087
　　 Loss on impairment of
　　  long-lived assets　　　　　　--　　　　--　　   763　　　　--　　   763
　　 Loss on disposal of
　　  long-lived assets　　　　　　(1)　　   14　　　　 6　　　　13　　　　 6
　　 Gain from repurchase of
　　  CB　　　　　　　　　　   (2,642)   (5,353)　　   --　　(7,995)　　   --
　　 Gain from advance
　　  settlement　　　　　　　　 (555)　　   --　　　　--　　  (555)　　   --

　　Changes in operation
　　 assets and liabilities:　　2,318　　46,892　　53,967　　49,210   105,355
　　 Accounts receivables　　 (72,610)　　9,951   (40,463)  (62,659)  (34,937)
　　 Inventories　　　　　　   12,525   (14,246) (120,477)   (1,721) (204,847)
　　 Advances to suppliers　　  4,509　　19,379　　34,387　　23,888　　(9,254)
　　 Amount due from related
　　  parties　　　　　　　　　　   9   (11,816)   28,405   (11,807)   29,308
　　 Value added tax
　　  recoverable　　　　　　 (14,295)  (19,082)  (13,317)  (33,377)  (13,312)
　　 Prepaid expenses and
　　  other current assets　　 (2,645)　　7,323   (10,186)　　4,678   (13,902)
　　 Prepaid land use right　　   110　　  (110)　　  (49)　　   --　　(1,628)
　　 Accounts payable　　　　  35,069　　 2,954　　15,709　　38,023　　23,185
　　 Advances from customers  (25,554)　　2,334　　59,154   (23,220)   89,948
　　 Other liabilities　　　　 (2,192)　　2,981　　   885　　   789　　 4,884
　　 Accrued warranty cost　　　　496　　　　65　　　　--　　   561　　　　--
　　 Deferred tax　　　　　　　　(517)  (37,527)  (14,995)  (38,044)   (9,615)
　　Net cash used in
　　 operation activities　　 (62,777)　　9,098　　(6,980)  (53,679)  (34,815)

　　Investing activities:
　　 Purchases of property,
　　  plant and equipment　　(194,060) (164,024) (135,314) (358,084) (208,312)
　　 Advances for purchases
　　  of property, plant and
　　  equipment　　　　　　   114,105　　18,186   (71,721)  132,291  (128,975)
　　 Purchases of other
　　  long-term assets　　　　   (964)　　 (447)   (1,038)   (1,411)   (1,038)
　　 Cash received from
　　  government subsidy　　　　   --　　 5,959　　 6,031　　 5,959　　 6,031
　　 Proceeds from disposal
　　  of property, plant and
　　  equipment　　　　　　　　　　--　　　　--　　　　 1　　　　--　　　　 1
　　 Proceeds from disposal
　　  of investment　　　　　　　　--　　  (635)　　6,335　　  (635)　　6,335
　　 Restricted cash　　　　   32,764   (51,722)   (5,828)  (18,958)   (5,828)
　　 Cash decreased due to
　　  acquisition　　　　　　　　  --   (16,831)　　   --   (16,831)　　   --
　　 Cash decreased due to
　　  deconsolidation　　　　　　  --　　　　--　　　　--　　　　--　　(4,416)
　　Net cash used in
　　 investing activities　　 (48,155) (209,514) (201,534) (257,669) (336,202)

　　Financing activities:
　　 Proceeds from
　　  borrowings　　　　　　  330,412   436,780   148,542   767,192   269,480
　　 Repayment of bank
　　  borrowings　　　　　　 (290,240) (155,437) (101,055) (445,677) (141,403)
　　 Net proceeds from
　　  issuance of common
　　  shares　　　　　　　　   69,905　　　　--　　　　--　　69,905   294,012
　　 Cash paid for issuance
　　  cost　　　　　　　　　　 (1,545)　　   --　　　　--　　(1,545)　　   --
　　 Proceeds from exercise
　　  of stock options　　　　　　 --　　　　--　　　　--　　　　--　　   243
　　 Dividend paid to non-
　　  controlling
　　  shareholder　　　　　　　　  --　　　　--　　  (103)　　   --　　  (103)
　　 Cash paid for
　　  repurchase of CB　　　　(64,340)  (19,781)　　   --   (84,121)　　   --
　　 Cash received from
　　  related parties　　　　　　  --　　　　--　　　　--　　　　--　　　　15
　　 Cash paid to related
　　  parties　　　　　　　　　　  --　　　　--　　   (15)　　   --　　   (15)
　　Net cash provided by
　　 financing activity　　　　44,192   261,562　　47,369   305,754   422,229

　　Effect of exchange rate
　　 changes　　　　　　　　　　　　5　　　　64　　  (675)　　   69　　 7,984

　　Net increase in cash and
　　 cash equivalent　　　　  (66,735)   61,210  (161,820)   (5,525)   59,196
　　Cash and cash
　　 equivalent, beginning
　　 of year　　　　　　　　  173,543   112,333   274,153   112,333　　53,137
　　Cash and cash
　　 equivalent, end of year  106,808   173,543   112,333   106,808   112,333



　　For more information, please contact:

　　In China:

　　 Ms. Julia Xu
　　 ReneSola Ltd
　　 Tel:   +86-573-8477-3372
　　 Email: julia.xu@renesola.com

　　 Mr. Derek Mitchell
　　 Ogilvy Financial, Beijing
　　 Tel:   +86-10-8520-6284
　　 Email: derek.mitchell@ogilvy.com

　　In the United States:

　　 Ms. Jessica Barist Cohen
　　 Ogilvy Financial, New York
　　 Tel:   +1-646-460-9989
　　 Email: jessica.cohen@ogilvypr.com

　　In the United Kingdom:

　　 Mr. Tim Feather / Mr. Richard Baty
　　 Westhouse Securities Limited, London
　　 Tel:   +44-20-7601-6100
　　 Email: tim.feather@westhousesecurities.com
　　　　　　richard.baty@westhousesecurities.com]]></description>
		<detail><![CDATA[Company Achieves Record Quarterly and Full Year Product Shipment Volumes; Announces 62 MW Solar Module OEM Agreement

　　JIASHAN, China, March 10 /PRNewswire-Asia/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL) (AIM: SOLA), a leading global manufacturer of solar wafers and provider of solar module original equipment manufacturer ("OEM") services, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2009.
　　(Logo: http://www.prnasia.com/xprn/sa/200806261902.jpg )
　　
　　Fourth Quarter 2009 Financial and Operating Highlights
　　-- Total solar product shipments in Q4 2009 were a record 202.9 megawatts 
　　   ("MW"), an increase of 38.1% from 146.9 MW in Q3 2009. 
　　-- Q4 2009 net revenues were US$179.9 million, an increase of 27.7% from 
　　   US$140.9 million in Q3 2009.
　　-- Q4 2009 gross profit was US$4.9 million with a gross profit margin of 
　　   2.7%. 
　　-- Q4 2009 operating loss was US$20.5 million with an operating margin of 
　　   negative 11.4%. 
　　-- Q4 2009 net loss was US$19.9 million, representing basic and diluted 
　　   losses per share of US$0.12, and basic and diluted losses per American 
　　   depositary share ("ADS") of US$0.23.
　　-- Excluding provisions against doubtful receivables, adjusted net loss 
　　   was US$5.3 million, representing basic and diluted losses per share of
　　   US$0.03, and basic and diluted losses per ADS of US$0.06. 

　　Full Year 2009 Financial and Operating Highlights
　　-- Total solar product shipments for the full year 2009 exceeded the 
　　   Company's guidance of 490 MW to 520 MW and were a record 526.6 MW, an 
　　   increase of 50.4% from 350.1 MW in the full year 2008.
　　-- Full year 2009 net revenues were US$510.4 million, exceeding the 
　　   Company's guidance of US$470 million to US$500 million. 
　　-- Full year 2009 gross loss was US$37.2 million and a gross profit margin 
　　   of negative 7.3%. 
　　-- Full year 2009 operating loss was US$90.6 million and an operating 
　　   margin of negative 17.7%. 
　　-- Full year 2009 net loss was US$63.7 million, representing basic and 
　　   diluted losses per share of US$0.43, and basic and diluted losses per 
　　   ADS of US$0.86. 
　　-- Excluding inventory write-downs and provisions against doubtful 
　　   receivables, full year 2009 adjusted net profit was US$22.2 million, 
　　   representing basic earnings per share of US$0.15, and basic earnings 
　　   per ADS of US$0.30.



　　　　　　　　　　　　　　　　　　Three months   Three months   Three months
　　　　　　　　　　　　　　　　　　   ended　　　　  ended　　　　   ended　　 
　　　　　　　　　　　　　　　　　　 12/31/09　　   12/31/09　　　　12/31/08  
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 
　　Net revenue (US$000)　　　　　　   179,885　　   140,945　　　　 158,623 
　　Gross profit (loss)　　　　　　　　　　　　　　　　　　　　　　　　  
　　 (US$000)　　　　　　　　　　　　　　4,856　　　　 4,738　　　　(130,139)
　　Gross margin (%)　　　　　　　　　　   2.7%　　　　  3.4%　　　　 (82.0%)
　　Operating profit (loss)　　　　　　　　　　　　　　　　　　　　　　  
　　 (US$000)　　　　　　　　　　　　  (20,476)　　   (7,774)　　   (143,126)
　　Foreign exchange loss　　　　　　　　　　　　　　　　　　　　　　　　
　　 (US$000)　　　　　　　　　　　　　　 (495)　　　　  116　　　　  (1,052)
　　Profit (loss) for the　　　　　　　　　　　　　　　　　　　　　　　　
　　 period (US$000)　　　　　　　　   (19,882)　　  (10,171)　　   (128,275)



　　"We were pleased with our record shipment volumes for the fourth quarter and full year 2009 despite a challenging macro environment in 2009," said Li Xianshou, ReneSola's chief executive officer. "Our cost-competitive solar wafer and integrated solar module OEM manufacturing platform has proven effective in driving revenue and volume growth while helping to diversify business risks and further strengthening our core wafer customer relationships." 
　　Charles Bai, ReneSola's chief financial officer, added, "During the fourth quarter of 2009, we continued to improve our manufacturing efficiency while expanding our market share worldwide. We worked through the remainder of our high-cost raw materials and expect first quarter 2010 polysilicon cost to be below US$60 per kilogram. We also reduced our average wafer processing cost significantly to approximately US$0.34 per watt. With anticipated further cost reductions in each segment of our business and continuing strong demand for our products and services, we expect to return to profitability in the first quarter of 2010."

　　Results for the Fourth Quarter and Full Year 2009

　　Product Shipments
　　Total solar product shipments in Q4 2009 were 202.9 MW, an increase of 38.1% from 146.9 MW for Q3 2009, exceeding the Company's guidance. Total solar wafer and module shipments were 187.4 MW and 14.6 MW, respectively, representing increases of 39.5% and 35.2%, respectively, from Q3 2009. For the full year 2009, total product shipments were 526.6 MW, representing an increase of 50.4% from 350.1 MW in the full year 2008. 

　　Net Revenues
　　Net revenues for Q4 2009 were US$179.9 million, an increase of 27.7% from US$140.9 million for Q3 2009, exceeding the Company's guidance. Net revenues for Q4 2008 were US$158.6 million. For the full year 2009, ReneSola reported net revenues of US$510.4 million, representing a decrease of 23.9% from US$670.4 million in the full year 2008.

　　Gross Profit (Loss)
　　Gross profit for Q4 2009 was US$4.9 million, compared to gross profit of US$4.7 million in Q3 2009 and gross loss of US$130.1 million in Q4 2008. 
　　Gross loss for the full year 2009 was US$37.2 million, compared to gross loss of US$14.3 million in the full year 2008.

　　Operating Loss
　　Total operating expenses for Q4 2009 were US$25.3 million, an increase from US$12.5 million in Q3 2009 and US$13.0 million in Q4 2008. The sequential increase was primarily attributable to a provision of US$14.6 million against doubtful receivables from Linzhou Zhongsheng Semiconductor ("Linzhou Zhongshen") during the quarter. Total operating expenses for the full year 2009 were US$53.3 million, an increase from US$34.2 million in the full year 2008.
　　As previously announced, the Company sold its 49% equity interest in Linzhou Zhongsheng, a joint venture between the Company and Zhongsheng Steel Co. Ltd. (the "JV Partner") to its JV Partner in September 2008 at a total consideration of RMB200 million (US$29.3 million) under certain conditions. The agreement was amended in December 2008 stipulating that, of the total consideration payable to ReneSola, RMB40 million (US$5.9 million) would be paid in cash and RMB160 million (US$23.4 million) would be paid either as a credit through a discount to spot market price against future delivery of polysilicon from the JV, or in cash, at the Company's discretion. However, Linzhou Zhongsheng continued to fail in its obligations to deliver feedstock and the Company has decided to take action to collect the receivables in cash. A provision has been made against the receivables. 
　　Operating loss for Q4 2009 was US$20.5 million, compared to operating losses of US$7.8 million for Q3 2009 and US$143.1 million in Q4 2008. Adjusted operating loss for Q4 2009 was US$5.9 million excluding the provision for doubtful receivables. 
　　Operating loss for the full year 2009 was US$90.6 million, compared to US$48.5 million in the full year 2008. Adjusted operating loss for the full year 2009 was US$4.7 million excluding inventory write-downs and the provision for doubtful receivables. Operating margin for the full year 2009 was negative 17.7%, compared to negative 7.2% in the full year 2008. 

　　Loss Before Income Tax
　　Loss before income tax for Q4 2009 was US$22.5 million, compared to losses of US$11.5 million for Q3 2009 and US$146.9 million in Q4 2008. Loss before income tax for full year 2009 was US$99.7 million, compared to a loss of US$56.5 million for full year 2008. 

　　Taxation
　　A tax benefit of approximately US$2.6 million was recognized for Q4 2009, compared with tax benefits of US$1.4 million in Q3 2009 and US$18.3 million in Q4 2008. For the full year 2009, a tax benefit of US$36.0 million was recognized, primarily resulting from inventory write-downs, up from US$2.4 million in the full year 2008.

　　Net Loss Attributable to Holders of Ordinary Shares
　　Net loss attributable to holders of ordinary shares for Q4 2009 was US$19.9 million, compared to net losses attributable to holders of ordinary shares of US$10.2 million in Q3 2009 and US$128.3 million in Q4 2008. Adjusted net loss for Q4 2009 was US$5.3 million. 
　　Q4 2009 basic and diluted losses per share were US$0.12, and basic and diluted losses per ADS were US$0.23. Q3 2009 basic and diluted losses per share were US$0.07, and basic and diluted losses per ADS were US$0.14. One ADS is equivalent to two ordinary shares. 
　　Net loss for the full year 2009 was US$63.7 million, compared to net loss of US$54.9 million in the full year 2008. Adjusted net profit for the full year 2009 was US$22.2 million excluding inventory write-downs and the provision for doubtful receivables. 
　　Full year 2009 basic and diluted losses per share were US$0.43, and basic and diluted losses per ADS were US$0.86. Full year 2008 basic and diluted losses per share were US$0.43, and basic and diluted losses per ADS were US$0.86. 

　　Recent Business Developments

　　600 MW Solar Module OEM Agreement
　　As announced on February 11, 2010, ReneSola signed an OEM agreement to provide 600 MW of solar modules to a major global solar company over a period of three years. According to the terms of the contract, the Company will provide 200 MW of solar modules annually for three years commencing in 2010.

　　62 MW Solar Module OEM Agreement
　　In addition to the above agreement, the Company has recently signed an additional OEM agreement to provide 62 MW of solar modules to a major global solar company during 2010. 
　　CEO Li Xianshou commented, "Our two recent solar module OEM contracts represent important milestones for ReneSola as the company transitions into a leading global wafer company with expanded downstream OEM services. These contracts also demonstrate our ability to leverage our solid relationships with existing wafer customers to win additional OEM business." 
 
　　Sichuan Polysilicon Facility 
　　Phase I polysilicon trial production commenced in July 2009 and achieved production output of approximately 194 metric tonnes ("MT") in 2009, lower than previous estimates due to continuous system testing and trial runs. Production cost was higher than previously expected due to continuous trial runs, system testing, outsourced Trichlorosilane ("TCS") and minimal activated hydrogenation processes. With mechanical installation of TCS and hydrogenation equipment completed, trial production of integrated closed loop manufacturing for Phase I is expected in March 2010.
　　Phase II trial production commenced recently and will be incrementally integrated with Phase I. Full integration into the manufacturing system is expected within approximately four to five months. Once fully operational, the integrated closed loop manufacturing system is expected to reduce production costs to US$40 per kilogram by the end of 2010. The Company expects polysilicon production output in 2010 to be in the range of 1,500 MT to 1,900 MT. 

　　Convertible Bond Repurchase
　　During Q4 2009, the Company repurchased approximately US$65.0 million (equivalent to RMB444.1 million) aggregate principal amount of its RMB 928,700,000 U.S. Dollar Settled 1.0% Convertible Bonds due March 26, 2012 (the "Bonds"), for a total consideration of approximately US$64.3 million (equivalent to RMB439.3 million). The Company recognized a gain of approximately US$2.64 million. As of December 31, 2009, the Company had approximately US$32.5 million (equivalent to RMB221.7 million) of Bonds outstanding. 
　　ReneSola may from time-to-time seek to make additional repurchases of its Bonds. Such repurchases, if any, will depend on prevailing market conditions, the Company's liquidity requirements and other factors.

　　2010 Outlook
　　The Company has witnessed robust market demand in the beginning of 2010, which it expects to remain through the first half of 2010, with stabilizing polysilicon prices and increased wafer spot pricing. For Q1 2010, ReneSola expects total solar product shipments in the range of 215 MW to 230 MW, revenues in the range of US$195 million to US$205 million and gross profit margin to be in the range of 16% to 18%. Although the Company anticipates solar wafer price declines in the range of 10% to 15% in the second half of 2010 due to increased competition and feed-in tariff cuts in international markets such as Germany, the Company maintains its full year 2010 total solar product shipment guidance to be in the range of 900 MW to 950 MW. The Company expects to be profitable with average gross profit margin in the range of 17% to 20% for the full year 2010.  

　　Conference Call Information
　　ReneSola's management will host an earnings conference call on Wednesday, March 10, 2010 at 8 am U.S. Eastern Standard Time / 9 pm Beijing/Hong Kong time / 1 pm Greenwich Mean Time.
　　Dial-in details for the earnings conference call are as follows:

　　U.S. / International: +1-617-614-3473
　　United Kingdom:　　   +44-207-365-8426
　　Hong Kong:　　　　　　+852-3002-1672

　　Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is "ReneSola Call."
　　A replay of the conference call may be accessed by phone at the following number until March 17, 2010:

　　International:　　　　+1-617-801-6888
　　Passcode:　　　　　　 81970616

　　Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of ReneSola's website at http://www.renesola.com .

　　About ReneSola
　　ReneSola is a leading global manufacturer of solar wafers. Capitalizing on economies of scale, low cost production capabilities and technology innovations, ReneSola leverages its in-house virgin polysilicon and solar cell and module production capabilities to provide its customers with high-quality, cost-competitive solar wafer products and solar module OEM services. The company possesses a global network of suppliers and customers that include some of the leading global manufacturers of solar cells and modules. ReneSola's shares are traded on the New York Stock Exchange (NYSE: SOL) and the AIM of the London Stock Exchange (AIM: SOLA).

　　Safe Harbor Statement
　　This press release contains statements that constitute ''forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when we describe what we "believe," "expect" or "anticipate" will occur, what "will" or "could" happen, and other similar statements), you must remember that our expectations may not be correct, even though we believe that they are reasonable. We do not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in our filings with the U.S. Securities and Exchange Commission, including our annual report on Form 20-F. We undertake no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though our situation may change in the future.



　　　　　　　　　　　　　　　　　　　　　　　　   RENESOLA LTD
　　　　　　　　　　　　　　　　　　　　 Unaudited Consolidated Balance Sheet
　　　　　　　　　　　　　　　　　　　　　　   (US dollars in thousands)
　　　　　　　　　　　　　　　　　　　　　　December   September　　December
　　　　　　　　　　　　　　　　　　　　　　31, 2009　　30, 2009　　31, 2008
　　ASSETS
　　Current assets:
　　Cash and cash equivalents　　　　　　　　106,808　　  95,210　　 112,333
　　Restricted cash　　　　　　　　　　　　   25,266　　  28,852　　   5,958
　　Available for sale investment　　　　　　 12,474　　　　  --　　　　  --
　　Trade receivable, net of allowances
　　 for doubtful receivables　　　　　　　　107,987　　  86,780　　  43,160
　　Inventories, net of inventory
　　 provisions　　　　　　　　　　　　　　  137,844　　 162,196　　 193,036
　　Advances to suppliers, current
　　 portion　　　　　　　　　　　　　　　　  20,164　　  39,729　　  36,991
　　Amounts due from related parties　　　　　　 440　　　　 439　　　　 457
　　Value added tax recoverable　　　　　　   51,843　　  44,411　　  15,498
　　Prepaid expenses and other current
　　 assets　　　　　　　　　　　　　　　　　　7,326　　   6,184　　  13,722
　　Deferred tax assets, current portion　　  22,828　　  22,799　　  18,979
　　Total current assets　　　　　　　　　　 492,980　　 486,600　　 440,134

　　Property, plant and equipment, net　　   702,816　　 618,732　　 341,427
　　Prepaid land rent, net　　　　　　　　　　23,137　　  23,277　　  13,472
　　Other Intangible assets　　　　　　　　　　1,349　　   2,474　　　　  --
　　Deferred tax assets, non-current
　　 portion　　　　　　　　　　　　　　　　  36,470　　  36,020　　   2,340
　　Deferred convertible bond issue costs　　　　 86　　　　 549　　   1,970
　　Advances to suppliers, non-current
　　 portion　　　　　　　　　　　　　　　　　　  --　　  19,140　　  45,729
　　Advances for purchases of property,
　　 plant and equipment　　　　　　　　　　  20,840　　  76,948　　 161,705
　　Other long-term assets　　　　　　　　　　 2,840　　   1,582　　   1,011
　　Goodwill　　　　　　　　　　　　　　　　   5,323　　   5,323　　　　  --
　　TOTAL ASSETS　　　　　　　　　　　　   1,285,841   1,270,645   1,007,788

　　LIABILITIES AND SHAREHOLDERS' EQUITY

　　Current liabilities:
　　Short-term borrowings　　　　　　　　　　343,984　　 312,560　　 191,987
　　Accounts payable　　　　　　　　　　　　  93,406　　  78,414　　  37,942
　　Advances from customers, current
　　 portion　　　　　　　　　　　　　　　　  53,852　　  59,682　　  49,284
　　Amounts due to related parties　　　　　　　　24　　　　  40　　  11,863
　　Other current liabilities　　　　　　　　 71,332　　  74,116　　  42,060
　　Total current liabilities　　　　　　　　562,598　　 524,812　　 333,136

　　Convertible bond payable　　　　　　　　  32,475　　  99,330　　 138,904
　　Long-term borrowings　　　　　　　　　　 203,929　　 170,666　　  32,833
　　Advances from customers, non-current
　　 portion　　　　　　　　　　　　　　　　  78,578　　  99,428　　 105,203
　　Other long-term liabilities　　　　　　   10,858　　  20,880　　  15,624
　　Total liabilities　　　　　　　　　　　　888,438　　 915,116　　 625,700

　　Shareholders' equity
　　 Common shares　　　　　　　　　　　　   413,753　　 345,645　　 330,666
　　 Additional paid-in capital　　　　　　   21,065　　  20,410　　  17,769
　　 Retained earnings　　　　　　　　　　   (52,367)　　(32,483)　　 11,294
　　 Accumulated other comprehensive
　　  income　　　　　　　　　　　　　　　　  14,952　　  21,957　　  22,080
　　Total ReneSola Ltd. shareholders'
　　 equity　　　　　　　　　　　　　　　　  397,403　　 355,529　　 381,809

　　Non-controlling interests　　　　　　　　　　 --　　　　  --　　　　 279
　　Total equity　　　　　　　　　　　　　　 397,403　　 355,529　　 382,088

　　TOTAL LIABILITIES AND SHAREHOLDER'S
　　 EQUITY　　　　　　　　　　　　　　　　1,285,841   1,270,645   1,007,788



　　　　　　　　　　　　　　　　　　　　　　　　　　 RENESOLA LTD
　　　　　　　　　　　　　　 Unaudited Consolidated Statements of Income Data
　　　　　　　　　　　　   (US dollar in thousands, except ADS and share data)

　　　　　　　　　　　　　　　　　　   Three Months Three Months Three Months
　　　　　　　　　　　　　　　　　　　　  ended Dec　　ended Sep　　ended Dec 
　　　　　　　　　　　　　　　　　　　　   31, 2009　　 30, 2009　　 31, 2008

　　Net revenues　　　　　　　　　　　　　　179,885　　  140,945　　  158,623
　　Cost of revenues　　　　　　　　　　   (175,029)　　(136,207)　　(288,762)
　　Gross profit (loss)　　　　　　　　　　   4,856　　　　4,738　　 (130,139)

　　Operating expenses:
　　 Sales and marketing　　　　　　　　　　 (2,034)　　  (1,752)　　　　 (43)
　　 General and administrative　　　　　　 (20,776)　　  (5,809)　　  (9,465)
　　 Research and development　　　　　　　　(2,860)　　  (4,800)　　  (2,770)
　　 Impairment loss on property, plant
　　  and equipment　　　　　　　　　　　　　　  --　　　　   --　　　　 (763)
　　 Other general income (expenses)　　　　　　338　　　　 (151)　　　　  54
　　Total operating expenses　　　　　　　　(25,332)　　 (12,512)　　 (12,987)

　　Income (loss) from operations　　　　   (20,476)　　  (7,774)　　(143,126)

　　Non-operating (expenses) income:
　　 Interest income　　　　　　　　　　　　　　815　　　　  269　　　　  929
　　 Interest expenses　　　　　　　　　　   (4,950)　　  (4,152)　　  (3,692)
　　 Foreign exchange gain (loss)　　　　　　  (495)　　　　 116　　   (1,052)
　　 Debt conversion profit　　　　　　　　   2,642　　　　   --　　　　   --
　　Equity in earnings of investee　　　　　　   --　　　　   --　　　　   --
　　Total non-operating (expenses)
　　 income　　　　　　　　　　　　　　　　  (1,988)　　  (3,767)　　  (3,815)

　　Income (loss) before income tax　　　　 (22,464)　　 (11,541)　　(146,941)

　　Income tax benefit (expense)　　　　　　  2,582　　　　1,370　　   18,278
　　Net income (loss)　　　　　　　　　　   (19,882)　　 (10,171)　　(128,663)

　　Less: net (income) loss attributed
　　 to non-controlling interests　　　　　　　　--　　　　   --　　　　  388
　　Net income (loss) attributable to
　　 holders of ordinary shares　　　　　　 (19,882)　　 (10,171)　　(128,275)

　　Earnings (Loss) per share
　　 Basic　　　　　　　　　　　　　　　　　　(0.12)　　   (0.07)　　   (0.93)
　　 Diluted　　　　　　　　　　　　　　　　  (0.12)　　   (0.07)　　   (0.93)

　　Earnings (Loss) per ADS
　　 Basic　　　　　　　　　　　　　　　　　　(0.23)　　   (0.14)　　   (1.86)
　　 Diluted　　　　　　　　　　　　　　　　  (0.23)　　   (0.14)　　   (1.86)

　　Weighted average number of shares
　　 used in computing earnings per
　　 share
　　 Basic　　　　　　　　　　　　　　  171,277,086  141,624,912  137,624,912
　　 Diluted　　　　　　　　　　　　　　171,277,086  141,624,912  137,624,912


　　　　　　　　　　　　　　　　　　　　　　  For the year ended
　　　　　　　　　　　　　　　　　　　　　　　　 ended Dec 31,
　　　　　　　　　　　　　　　　　　　　　　   2009　　　　 2008

　　Net revenues　　　　　　　　　　　　　　510,405　　  670,366
　　Cost of revenues　　　　　　　　　　   (547,647)　　(684,676)
　　Gross profit (loss)　　　　　　　　　　 (37,242)　　 (14,310)

　　Operating expenses:
　　 Sales and marketing　　　　　　　　　　 (5,399)　　　　(620)
　　 General and administrative　　　　　　 (35,044)　　 (23,194)
　　 Research and development　　　　　　   (14,507)　　  (9,713)
　　 Impairment loss on property, plant
　　  and equipment　　　　　　　　　　　　　　  --　　　　 (763)
　　 Other general income (expenses)　　　　  1,634　　　　   84
　　Total operating expenses　　　　　　　　(53,316)　　 (34,206)

　　Income (loss) from operations　　　　   (90,558)　　 (48,516)

　　Non-operating (expenses) income:
　　 Interest income　　　　　　　　　　　　  1,716　　　　1,783
　　 Interest expenses　　　　　　　　　　  (17,122)　　 (11,869)
　　 Foreign exchange gain (loss)　　　　　　(1,433)　　  (3,097)
　　 Debt conversion profit　　　　　　　　   7,995　　　　   --
　　Equity in earnings of investee　　　　　　 (291)　　   5,175
　　Total non-operating (expenses)
　　 income　　　　　　　　　　　　　　　　  (9,135)　　  (8,008)

　　Income (loss) before income tax　　　　 (99,693)　　 (56,524)

　　Income tax benefit (expense)　　　　　　 36,032　　　　2,420
　　Net income (loss)　　　　　　　　　　   (63,661)　　 (54,104)

　　Less: net (income) loss attributed
　　 to non-controlling interests　　　　　　　　--　　　　 (802)
　　Net income (loss) attributable to
　　 holders of ordinary shares　　　　　　 (63,661)　　 (54,906)

　　Earnings (Loss) per share
　　 Basic　　　　　　　　　　　　　　　　　　(0.43)　　   (0.43)
　　 Diluted　　　　　　　　　　　　　　　　  (0.43)　　   (0.43)

　　Earnings (Loss) per ADS
　　 Basic　　　　　　　　　　　　　　　　　　(0.86)　　   (0.86)
　　 Diluted　　　　　　　　　　　　　　　　  (0.86)　　   (0.86)

　　Weighted average number of shares
　　 used in computing earnings per
　　 share
　　 Basic　　　　　　　　　　　　　　  147,553,679  127,116,062
　　 Diluted　　　　　　　　　　　　　　147,553,679  127,116,062



　　　　　　　　　　　　　　　　　　　　　　  RENESOLA LTD
　　　　　　　　　　　　　　   Unaudited Consolidated Statements of Cash Flow
　　　　　　　　　　　　　　　　　　   (US dollar in thousands)
　　　　　　　　　　　　　　   Six　　   Six　　　　Six   
　　　　　　　　　　　　　　  Months　　Months　　 Months
　　　　　　　　　　　　　　  ended　　 ended　　  ended   For the year ended
　　　　　　　　　　　　　　  Dec 31,   Jun 30,　　Dec 31,　　 ended Dec 31,
　　　　　　　　　　　　　　   2009　　  2009　　  2008　　  2009　　   2008

　　Operation activity:
　　Net income (loss)　　　　 (30,053)  (33,608)  (95,890)  (63,661)  (54,906)
　　Adjustment to reconcile
　　 net income to net cash
　　 used in operation
　　 activity:
　　 Non-controlling
　　  interests　　　　　　　　　　--　　　　--　　  (320)　　   --　　   802
　　 Equity in earnings of
　　  investee　　　　　　　　　　 --　　   291　　(5,175)　　  291　　(5,175)
　　 Inventory write-down　　   3,206　　68,047   132,568　　71,253   132,568
　　 Provision for purchase
　　  commitment　　　　　　   (5,960)　　   --　　 5,862　　(5,960)　　5,862
　　 Depreciation and
　　  amortization　　　　　　 19,288　　13,457　　 9,405　　32,745　　15,517
　　 Amortization of
　　  deferred convertible
　　  bond issuances costs
　　  and premium　　　　　　   2,085　　 1,426　　 1,593　　 3,511　　 3,121
　　 Allowance of doubtful
　　  receivables　　　　　　  15,202　　   631　　 3,774　　15,833　　 4,027
　　 Prepaid land use right
　　  expensed　　　　　　　　　　313　　   127　　   140　　   440　　   257
　　 Change in fair value of
　　  derivatives　　　　　　　　  --　　　　(1)　　   (1)　　   (1)　　 (574)
　　 Share-based
　　  compensation　　　　　　  1,435　　 1,861　　 1,242　　 3,296　　 3,087
　　 Loss on impairment of
　　  long-lived assets　　　　　　--　　　　--　　   763　　　　--　　   763
　　 Loss on disposal of
　　  long-lived assets　　　　　　(1)　　   14　　　　 6　　　　13　　　　 6
　　 Gain from repurchase of
　　  CB　　　　　　　　　　   (2,642)   (5,353)　　   --　　(7,995)　　   --
　　 Gain from advance
　　  settlement　　　　　　　　 (555)　　   --　　　　--　　  (555)　　   --

　　Changes in operation
　　 assets and liabilities:　　2,318　　46,892　　53,967　　49,210   105,355
　　 Accounts receivables　　 (72,610)　　9,951   (40,463)  (62,659)  (34,937)
　　 Inventories　　　　　　   12,525   (14,246) (120,477)   (1,721) (204,847)
　　 Advances to suppliers　　  4,509　　19,379　　34,387　　23,888　　(9,254)
　　 Amount due from related
　　  parties　　　　　　　　　　   9   (11,816)   28,405   (11,807)   29,308
　　 Value added tax
　　  recoverable　　　　　　 (14,295)  (19,082)  (13,317)  (33,377)  (13,312)
　　 Prepaid expenses and
　　  other current assets　　 (2,645)　　7,323   (10,186)　　4,678   (13,902)
　　 Prepaid land use right　　   110　　  (110)　　  (49)　　   --　　(1,628)
　　 Accounts payable　　　　  35,069　　 2,954　　15,709　　38,023　　23,185
　　 Advances from customers  (25,554)　　2,334　　59,154   (23,220)   89,948
　　 Other liabilities　　　　 (2,192)　　2,981　　   885　　   789　　 4,884
　　 Accrued warranty cost　　　　496　　　　65　　　　--　　   561　　　　--
　　 Deferred tax　　　　　　　　(517)  (37,527)  (14,995)  (38,044)   (9,615)
　　Net cash used in
　　 operation activities　　 (62,777)　　9,098　　(6,980)  (53,679)  (34,815)

　　Investing activities:
　　 Purchases of property,
　　  plant and equipment　　(194,060) (164,024) (135,314) (358,084) (208,312)
　　 Advances for purchases
　　  of property, plant and
　　  equipment　　　　　　   114,105　　18,186   (71,721)  132,291  (128,975)
　　 Purchases of other
　　  long-term assets　　　　   (964)　　 (447)   (1,038)   (1,411)   (1,038)
　　 Cash received from
　　  government subsidy　　　　   --　　 5,959　　 6,031　　 5,959　　 6,031
　　 Proceeds from disposal
　　  of property, plant and
　　  equipment　　　　　　　　　　--　　　　--　　　　 1　　　　--　　　　 1
　　 Proceeds from disposal
　　  of investment　　　　　　　　--　　  (635)　　6,335　　  (635)　　6,335
　　 Restricted cash　　　　   32,764   (51,722)   (5,828)  (18,958)   (5,828)
　　 Cash decreased due to
　　  acquisition　　　　　　　　  --   (16,831)　　   --   (16,831)　　   --
　　 Cash decreased due to
　　  deconsolidation　　　　　　  --　　　　--　　　　--　　　　--　　(4,416)
　　Net cash used in
　　 investing activities　　 (48,155) (209,514) (201,534) (257,669) (336,202)

　　Financing activities:
　　 Proceeds from
　　  borrowings　　　　　　  330,412   436,780   148,542   767,192   269,480
　　 Repayment of bank
　　  borrowings　　　　　　 (290,240) (155,437) (101,055) (445,677) (141,403)
　　 Net proceeds from
　　  issuance of common
　　  shares　　　　　　　　   69,905　　　　--　　　　--　　69,905   294,012
　　 Cash paid for issuance
　　  cost　　　　　　　　　　 (1,545)　　   --　　　　--　　(1,545)　　   --
　　 Proceeds from exercise
　　  of stock options　　　　　　 --　　　　--　　　　--　　　　--　　   243
　　 Dividend paid to non-
　　  controlling
　　  shareholder　　　　　　　　  --　　　　--　　  (103)　　   --　　  (103)
　　 Cash paid for
　　  repurchase of CB　　　　(64,340)  (19,781)　　   --   (84,121)　　   --
　　 Cash received from
　　  related parties　　　　　　  --　　　　--　　　　--　　　　--　　　　15
　　 Cash paid to related
　　  parties　　　　　　　　　　  --　　　　--　　   (15)　　   --　　   (15)
　　Net cash provided by
　　 financing activity　　　　44,192   261,562　　47,369   305,754   422,229

　　Effect of exchange rate
　　 changes　　　　　　　　　　　　5　　　　64　　  (675)　　   69　　 7,984

　　Net increase in cash and
　　 cash equivalent　　　　  (66,735)   61,210  (161,820)   (5,525)   59,196
　　Cash and cash
　　 equivalent, beginning
　　 of year　　　　　　　　  173,543   112,333   274,153   112,333　　53,137
　　Cash and cash
　　 equivalent, end of year  106,808   173,543   112,333   106,808   112,333



　　For more information, please contact:

　　In China:

　　 Ms. Julia Xu
　　 ReneSola Ltd
　　 Tel:   +86-573-8477-3372
　　 Email: julia.xu@renesola.com

　　 Mr. Derek Mitchell
　　 Ogilvy Financial, Beijing
　　 Tel:   +86-10-8520-6284
　　 Email: derek.mitchell@ogilvy.com

　　In the United States:

　　 Ms. Jessica Barist Cohen
　　 Ogilvy Financial, New York
　　 T