China New Energy Group Company (CNER)

[budfoxfun]

setting up for a big breakout .035+ will see big momo

[mfayman]

Nice movement here today$

[jedijazz]

.0335's back up now! $CNER

[jedijazz]

CNER .0317 +9.31% at open

[jedijazz]

Open should be lit

[budfoxfun]

.034's thin here

[jedijazz]

CNER huge gains to be made here. Great document here: The Arizona Department of Health Services, in their Published Diabetes Action Plan and Report 2023, states that yearly direct and indirect costs of diabetes in Arizona exceed $6.8 billion. Arizona is expected to double its population by 2050 to 12 million and expects half will be burdened by prediabetes and diabetes.

For more details on the report, click the link below:

https://www.azdhs.gov/documents/prevention/tobacco-chronic-disease/diabetes/reports-data/diabetes-action-plan-report-2023.pdf?v=20230109#:~:text=With%20almost%20600%2C000%20adults%20living,prediabetes%20(1%3B%203).

[budfoxfun]

"Our strategy to bring advanced technology to diabetes care has taken its first step in the pending acquisition of True Diabetes Neuropathy and Wounds Solutions AZ, LLC.," stated Guy Zajonc, CEO and Chairman of Thrive Precision Health." " To us, the words Precision Health and Personalized Medicine mean better outcomes by tailoring our approach and offering individualized treatment to every patient using proven science. We will continue to acquire or start new specialized diabetes clinics in Arizona with a goal of thirty more sites."

[budfoxfun]

Look ready for the next leg up soon jedi.

[jedijazz]

CNER "THRV is developing a standardized clinical footprint that can scale nationwide and internationally to offer Wound Care, IV Therapies, Neuropathy Treatment, and enhanced complementary protocols. Each clinic will have up to 20 IV stations and five wound care treatment rooms, generating up to $5-6 million in total revenues per location. Our goal is a 35% EBITDA within each clinic. Approximately 85% of services are reimbursed by third-party payors such as Medicare, Medicaid, and health insurance companies. Cash paid by the patients will represent 15% of gross income from operations." $CNER

[jedijazz]

Good morning Brien

[Cameo Brien]

Gm jedi

[jedijazz]

CNER's global vision: 32 clinics in Arizona, 20 in Hawaii. Imagine the impact on diabetes care! #CNERGlobalImpact #DiabetesCare

🌍 $CNER's global vision: 32 clinics in Arizona, 20 in Hawaii. Imagine the impact on diabetes care! 🏥💙 #CNERGlobalImpact #DiabetesCare

— Thrive Precision Health (@PrecisionT67828) November 13, 2023

[jedijazz]

CNER "Diabetes hits hard: $412.9B in 2022! $306.6B in direct medical costs, $106.3B in indirect costs. Shockingly, 1 in 4 U.S. health care dollars now goes to diabetes. Join in the fight for a healthier, cost-effective future! #DiabetesEcon #healthcaresystem

$CNER 🚀 Diabetes hits hard: $412.9B in 2022! 💰 $306.6B in direct medical costs, $106.3B in indirect costs. Shockingly, 1 in 4 U.S. health care dollars now goes to diabetes. 💔 Join in the fight for a healthier, cost-effective future! 💙🌐 #DiabetesEcon #healthcaresystem

— Thrive Precision Health (@PrecisionT67828) November 10, 2023

[jedijazz]

CNER: China New Energy Group Company/ Thrive Precision Health Announces Binding Agreement To Acquire Two Diabetes Clinics in Arizona

Thrive Focus: Personalized Medicine - Institutionalizing Diabetes Care for Better Patient Outcomes

SPOKANE, Wash., Oct. 25, 2023 /PRNewswire/ -- Thrive Precision Health ("THRV") (formerly Thrive Global Biosafety and China New Energy Group Company (with subsidiary Thrive Testing and Biosafety Inc., "CNER" or "Company") (OTC-Pink-Alternative Reporting Pink: CNER) is pleased to announce it has entered into a binding letter of intent to acquire two diabetes clinics on Arizona.

Thrive Precision Health Logo

"Our strategy to bring advanced technology to diabetes care has taken its first step in the pending acquisition of True Diabetes Neuropathy and Wounds Solutions AZ, LLC.", stated Guy Zajonc, CEO and Chairman of Thrive Precision Health." " To us, the words Precision Health and Personalized Medicine mean better outcomes by tailoring our approach and offering individualized treatment to every patient using proven science. We will continue to acquire or start new specialized diabetes clinics in Arizona with a goal of thirty more sites".

THRV is developing a standardized clinical footprint that can scale nationwide and internationally to offer Wound Care, IV Therapies, Neuropathy Treatment, and enhanced complementary protocols. Each clinic will have up to 20 IV stations and five wound care treatment rooms, generating up to $5-6 million in total revenues per location. Our goal is a 35% EBITDA within each clinic. Approximately 85% of services are reimbursed by third-party payors such as Medicare, Medicaid, and health insurance companies. Cash paid by the patients will represent 15% of gross income from operations.

THRV will start with the two Arizona clinics, one in Gilbert and the other in Show Low, AZ.

"We are excited to join the Thrive Precision team with the ability to build a national and potentially international platform for diabetes care," says Dr. Jason Mulder, CEO of True Diabetes. "In Arizona alone, there are 600,0001 diabetics and an estimated 2 million pre-diabetics, and the caseload far exceeds the capacity to treat those affected. We want to help reverse the pre-diabetic condition before ulcers, amputation, and dialysis occur."

The Arizona Department of Health Services, in their Published Diabetes Action Plan and Report 2023, states that yearly direct and indirect costs of diabetes in Arizona exceed $6.8 billion. Arizona is expected to double its population by 2050 to 12 million and expects half will be burdened by prediabetes and diabetes. For more details on the report, click the link below:

https://www.azdhs.gov/documents/prevention/tobacco-chronic-disease/diabetes/reports-data/diabetes-action-plan-report-2023.pdf?v=20230109#:~:text=With%20almost%20600%2C000%20adults%20living,prediabetes%20(1%3B%203).

The acquisition is an asset purchase transaction and will close once Thrive Precision Health completes its mandatory credentialing in Arizona, estimated to be 60-90 days. During this hold period, THRV will advance funds to True Diabetes to continue expanding their operations in both locations.

About Thrive Precision Health Inc.

Thrive Precision Health, Inc. ("Thrive") is building a global diabetes care powerhouse. We are starting or acquiring established healthcare clinics specializing in diabetes care and bringing in three cutting-edge technologies to make them even better. Our goal is to provide top-notch care to patients worldwide with a seamless digital experience. Imagine if your healthcare was as unique as you are. We use AI and quantum biosensors to analyze data down to the molecular level, tailoring treatments and recommendations specifically for you. This means no more one-size-fits-all solutions. Your health decisions will be based on your personal data, ensuring you receive the most effective and personalized care possible. Leveraging this groundbreaking technology and clinical services will include Wound Care, Neuropathy Care, PIR diabetes care through advanced infusion methods, and conventional and complementary treatment to improve patient outcomes. All services will be performed within a biosafety-secured facility using our biodefense technology to protect our suspectable patients and staff from bacterial and viral infections.

Follow:

Web: www.thriveprecision.health

Linkedin: https://www.linkedin.com/company/thrive-precision-health1/

Twitter: https://twitter.com/PrecisionT67828

Facebook: https://www.facebook.com/profile.php?id=100092725167875&mibextid=LQQJ4d

Important Notice Regarding Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements, other than statements of present or historical fact included in this press release, regarding the Company's future financial performance, as well as the Company's strategy, future operations, revenue guidance, projected costs, prospects, plans, and objectives of management are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements. However, not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events. They are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Nothing in this release is intended to be an offer of sale or purchase of any securities nor a solicitation of any offer for the sale or purchase of any securities.

China New Energy Group Company/Thrive Precision Health Contact:

Guy Zajonc
CEO
[e-mail]
U.S. [phone]

Logo - https://mma.prnewswire.com/media/2256819/Thrive_Precision_Health_Logo.jpg

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/china-new-energy-group-companythrive-precision-health-announces-binding-agreement-to-acquire-two-diabetes-clinics-in-arizona-301966980.html

SOURCE Thrive Precision Health

[jedijazz]

Time to take a position here.

[mfayman]

Just taking a little breather after that pop from oct 18th to the 23rd

[Cameo Brien]

New highs en route

[mfayman]

Ready for that pop thru these highs $

[mfayman]

Consolidation here

[Anita Dump]

very quiet

[mfayman]

Should be some support here imo

[mfayman]

Looking for a bounce off these .03s $

[Cameo Brien]

Good morning

[Cameo Brien]

Anyone?

[Cameo Brien]

Looking better

[Cameo Brien]

Any better yet?

[Cameo Brien]

Hmm

[Golden Cross]

peeps coming

[hondaboost]

Go look at this Scammer: Gary Robert Bartholomew.(CEO of CNER). He's also CEO of URYL, $0.0002, He did Pump and dump URYL which is now in grey markets.

CNER, CEO:
https://www.otcmarkets.com/stock/CNER/profile

URYL, CEO:
https://www.otcmarkets.com/stock/URYL/profile

Scammer Gary has been a Notorious Fraudulent in Stock markets for years. Be very careful for any his stock, All pump and dump Scam and went to Zero in the end.

[hondaboost]

Wow! CNER Scam issued 5 Billion new shares to Dump! Here:

"The share exchange with Thrive results in exchanging 185 shares of CNER for 1 share of Thrive, resulting in the issuance of approximately 5,071,193,360 restricted common shares to the Thrive shareholders in exchange for 27,411,856 common shares of Thrive. Upon the completion of the share exchange, Thrive became a wholly owned subsidiary of CNER.'

[ANTI-BAGHOLDER]

Almost at a 2 year high in volume.

[makinezmoney]

$CNER: Boustead sent BWV and HTCR higher

They are also behind $CNER.


They sent both those stocks over $2/sh


https://www.boustead1828.com/post/thrive-testing-biosafety-with-its-virus-testing-technology-announces-regulation-cf-offering

GO $CNER

[ANTI-BAGHOLDER]

Investor presentation https://www.sec.gov/Archives/edgar/data/1868502/000186850221000002/thrivebiosafetyformc..pdf

[ANTI-BAGHOLDER]

Acquisition completed.

$CNER reverse merger with Thrive Testing and Biosafety Inc. https://t.co/brFLzf6KVE New CEO on LinkedIn https://t.co/WZ30yWkeCe

— Adijas (@AdijasStocks) March 15, 2023

[Longer Than Most]

CNER .105

[Longer Than Most]

CNER lotto mid .03

[EMPATHY]

Very nice.

CEO may be putting something in this ticker.

https://ca.linkedin.com/in/gbartholomew

http://www.cybernorthventures.com/

Gonna grab some more. GL

$CNER

[Golden Cross]

CNER Pink Current

[buxmaker]

I have been holding this one for awhile. Good to see it coming alive again.

[rebelpenny]

reinstated today delaware

[buxmaker]

CNER now at .10 on over 120K shares traded today.

[makinezmoney]

$CNER: Volume entering..... now $0.06



Lets see if this goes as hard as $CHNC did today.


Looking good so far



GO $CNER

[emailcheque]

is this company doing any thing

[makinezmoney]

$CNER: Some simple volume today.... but interesting


Some continuous buying all day.


Watching here at $0.01



GO $CNER

[stocktrademan]

$CNER recent news/filings

bullish

## source: finance.yahoo.com

Tue, 29 Oct 2013 09:54:00 GMT ~ China New Energy rockets on Nigeria biofuel deal


read full: http://uk.finance.yahoo.com/news/china-energy-rockets-nigeria-biofuel-095400429.html
*********************************************************


$CNER charts



basic chart ## source: eoddata.com



$CNER company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/CNER/company-info
Ticker: $CNER
OTC Market Place: OTC Pink No Information
CIK code: 0001262159
Company name: China New Energy Group Co.
Incorporated In: DE, USA

Business Description:


$CNER share structure

## source: otcmarkets.com

Market Value: $16,060,542 a/o Aug 20, 2014
Shares Outstanding: 107,070,281 a/o Aug 10, 2010
Float: Not Available
Authorized Shares: 500,000,000 a/o May 27, 2008
Par Value: 0.001
$CNER extra dd links

Company name: China New Energy Group Co.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/CNER/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/CNER/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=CNER+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=CNER+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=CNER+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/CNER/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/CNER/news - http://finance.yahoo.com/q/h?s=CNER+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/CNER/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/CNER/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/CNER/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/CNER/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/CNER/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/CNER/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/CNER/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/CNER/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=CNER+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/CNER
DTCC (dtcc.com): http://search2.dtcc.com/?q=China+New+Energy+Group+Co.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=China+New+Energy+Group+Co.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=China+New+Energy+Group+Co.&x=0&y=0

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/CNER/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/CNER
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/CNER/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/CNER/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/CNER/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001262159&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/CNER/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/CNER/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/CNER/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/CNER/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=CNER&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=CNER
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/CNER/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=CNER+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=CNER+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=CNER
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=CNER
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=CNER+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/CNER/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=CNER+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/CNER.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=CNER
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/CNER/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/CNER/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/CNER/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/CNER/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/CNER
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/CNER
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/CNER:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=CNER
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=CNER



$CNER DD Notes ~ http://www.ddnotesmaker.com/CNER

[10 bagger]

CNER.. $0.28 First Quarter FY 2010 Results.....

China New Energy Announces First Quarter FY 2010 Results

PR Newswire - May 25 at 09:00

Company Symbols: NASDAQ-OTCBB:CNER


TIANJIN, China, May 25 /PRNewswire-Asia-FirstCall/ -- China New Energy Group Company (OTC Bulletin Board: CNER) ("China New Energy" or the "Company"), a natural gas network developer and distributor of natural gas to residential, industrial, and commercial users in small- and medium-sized cities in China, today announced its first quarter financial results ended March 31, 2010.

First Quarter 2010 Highlights
-- Revenue reached $1.7 million, up from $0.1 million for the same period
last year
-- Gross profit increased to $1.3 million from $76,010 for the same period
last year
-- Gross margin increased to 73.1% from 47.7%
-- Operating loss improved to $128,899 from a loss of $0.7 million for the
same period last year
-- Net loss from continuing operations was $18,311, or approximately $0.00
per diluted share, compared to a net loss from continuing operations of
$12.4 million, or ($0.13) per diluted share, for the first quarter 2009
-- Adjusted net loss from continuing operations, which excludes the
non-cash impact of the change in fair value of derivative financial
instruments, was $0.4 million, compared with an adjusted net loss of
$0.7 million, for the first quarter of 2009 (*)
-- Entered into an Equity Transfer Agreement to acquire a 70% equity
interest in Beijing Century Dadi Gas Co., Ltd. and its affiliated
companies (collectively, "Dadi Gas")

"We continue to increase the number of households connected to our natural gas network," said Mr. Yangkan Chong, Chief Executive Officer. "The increase in connected households is the main contributor to the large year-over-year rise in revenue and gross profit. Our dramatic revenue growth helped improve our operating loss compared to the first quarter of 2009; however, we continued to operate at a loss for the quarter as we have made a strategic decision to invest the resources today that we believe will lead to improved results in future quarters. As reflected in the increase in our general and administrative expenses, we have added more resources in areas like business development, outside consultants, and have hired additional staff to help strengthen our internal controls as we are planning to grow the size of our company both organically and via the acquisitions we recently announced."

First Quarter 2010 Results

For the first quarter ended March 31, 2010, revenues were $1.7 million, an increase of 975% from $0.2 million in the same quarter last year. The increase was primarily due to an increase in the number households connected to the Company&;s natural gas network. The number of connected households increased 954.3% to 4,407 from 418 for the same period in 2009. Revenues from connection fees were $1.7 million, an increase of 1,052.5% from $146,752 last year. Revenues from natural gas sales were $18,450, an increase of 46.0% from $12,633 for the first quarter of last year.

Cost of sales was $460,438, an increase of 452.2% from $83,375 for the same period of 2009. The increase was primarily due to a corresponding increase in the number of households connected to the Company&;s distribution network as cost of sales consists primarily of connection costs and purchase of natural gas from the Company&;s suppliers. Gross profit was $1.3 million, an increase of 1,543.7% from the first quarter of 2009. Gross margin was 73.1%, compared to 47.7% in the same period last year. The increase in gross margin was primarily due to the increase in the number of connected households.

Operating expenses were $1.4 million, an increase of 77.8% from $0.8 million for the first quarter of last year. This increase was primarily due to the fact that the Company is preparing to expand. The Company is adding more resources in areas like business development, outside consultants, and the hiring of additional staff to help strengthen the Company&;s internal controls. Operating loss was $128,899, compared to an operating loss of $0.7 million for the same period last year.

The Company&;s first quarter 2010 and first quarter 2009 financial statements include a non-cash impact from the change in fair value of derivative financial instruments of $0.4 million and ($11.7 million), respectively.

Net loss from continuing operations was $18,311, or $0.00 per diluted share, compared to a net loss from continuing operations of $12.4 million, or ($0.13) per diluted share, last year. Excluding the non-cash impact from the change in fair value of derivative financial instruments, the Company&;s adjusted net loss from continuing operations was $0.4 million, compared to an adjusted net loss from continuing operations of $0.7 million for the first quarter of last year. (*)

In March 2010, the Company sold its subsidiary, Yingkou Zhongneng Gas Development Co., Ltd., for RMB 21.9 million (approximately $3.2 million). In December 2009, the Company sold its Acheng Division for RMB 40 million (approximately $6 million). The results of Yingkou Zhongneng and Acheng Division are classified as discontinued operations on the Company&;s financial statements.

Net loss attributable to common shareholders was $320,841, or $0.00 per diluted share, compared to a net loss attributable to common shareholders of $12.6 million, or ($0.13) per diluted share, last year. Adjusted net loss attributable to common shareholders, which excludes the non-cash impact of the change in fair value of derivative financial instruments, was $0.7 million, compared to an adjusted net loss of $0.9 million for the first quarter of last year (*)

(*) See table following this press release for a reconciliation of income from continuing operations to exclude the non-cash impact from the change in fair value of derivative financial instruments and for a reconciliation of net income attributable to common shareholders to exclude the non-cash impact from the change in fair value of derivative financial instruments.

Financial Condition

As of March 31, 2010, the Company had cash and cash equivalents of $0.5 million. The Company has no long-term debt. Shareholders&; equity was $15.0 million as of March 31, 2010. Capital expenditures for the first quarter of 2010 were approximately $2.3 million, which was primarily for the construction of gas pipelines and stations.

Recent Developments
-- In March 2010, the Company entered into an agreement to acquire a 70%
equity interest in Beijing Century Dadi Gas Co., Ltd. and its
affiliated companies (collectively, "Dadi Gas"). Dadi Gas is primarily
engaged in the business of the supply of natural gas and construction
and development of a gas pipeline network in Northern China. The total
purchase price has not yet been determined, but will be based on a
multiple of Dadi Gas&;s net profits for the fiscal year ended December
31, 2009, and has been capped at RMB 392.2 million (approximately $57.5
million).
-- In January 2010, the Company entered into an agreement to acquire
Fuzhou Flying Dragon Zhongran Gas Inc. ("Fuzhou Zhongran") for RMB 26
million (approximately $3.8 million). Fuzhou Zhongran has the exclusive
operating license from the Dongxiang County government in Jiangxi
Province for the construction and development of a natural gas pipeline
network for 30 years.
-- In December 2009, the Company entered into an agreement to acquire
Fuzhou City Lean Zhongran Gas Inc. ("Lean Zhongran") for RMB 4.8
million (approximately $0.7 million). The purchase price is based on an
appraised value of Lean Zhongran as of September 30, 2009, and will be
adjusted to reflect the appraised value of the assets as of the closing
date.

Business Outlook

China New Energy primarily operates in the northeastern cities of China, around Bohai Bay, which is one of the seven key areas in the PRC government&;s general plan for natural gas development. The Company plans to continue to capitalize on the rise in natural gas consumption in China as the country shifts away from oil and coal to cleaner fuels like natural gas, and as the natural gas pipeline infrastructure in China continues to improve. Improved living standards and real estate development are driving demand for natural gas consumption in China and local governments now often require new residential buildings to incorporate natural gas connections in their designs.

The Company&;s growth strategy is to focus on under-penetrated, growing small- and medium-sized cities and enter into favorable franchise agreements with local governments for long-term exclusive rights to develop the local natural gas distribution network and supply natural gas in their area. China New Energy looks at the following criteria when identifying attractive areas for geographic expansion: size and density of population, concentration of industrial/commercial activities, environmental policies of the regional government, potential for further development, exclusivity of distribution, and required methods of delivery. The Company is also focused on diversifying its revenue stream towards a greater focus on industrial customers and natural gas sales. The Company&;s recently completed and announced acquisitions are in line with these selection criteria.

Mr. Chong concluded, "We have announced three acquisitions -- Dadi Gas, Fuzhou Zhongran, and Lean Zhongran -- that we expect to close later this year. We expect these acquisitions, combined with the continued growth in the existing markets we serve, to help further drive our ability to capitalize on the growing market for natural gas in China. We are excited about our business going forward and look forward to executing on our strategy through the balance of 2010 and beyond."

Use of Non-GAAP Financial Information

GAAP results for quarters ended March 31, 2010 and 2009 include the significant non-cash charges which do not relate to the operation of the business including non-cash expenses related to the change in fair value of derivative financial instruments. These are non-cash events which do not affect the Company&;s operations. To supplement the Company&;s consolidated financial statements presented on a GAAP basis, the Company has provided non-GAAP financial information excluding the impact of these items in this release, which are adjusted net income from continuing operations, adjusted diluted earnings per share from continuing operations, adjusted net income attributable to common shareholders and adjusted earnings per share attributable to common shareholders. The Company&;s management believes that these non-GAAP measures provide investors with a better understanding of how the results relate to the Company&;s historical performance. The additional adjusted information is not meant to be considered in isolation or as a substitute for GAAP financials. The adjusted financial information that the Company provides also may differ from the adjusted information provided by other companies. Management believes that these adjusted financial measures are useful to investors because they exclude non-cash expenses that management excludes when it internally evaluates the performance of the Company&;s business and makes operating decisions as these measures provide a consistent method of comparison to historical periods. As a result, the provision of these adjusted measures allows investors to evaluate the Company&;s performance using the same methodology and information as that used by the Company&;s management. Moreover, management believes that these adjusted measures reflect the essential operating activities of the Company. Adjusted measures are subject to inherent limitations because they do not include all of the expenses included under GAAP and because they involve the exercise of judgment of which charges are excluded from the adjusted financial measure. However, the Company&;s management compensates for these limitations by providing the relevant disclosure of the items excluded. A reconciliation of each adjusted measure to the nearest GAAP measure appears in the table at the end of this release.

About China New Energy Group Company

China New Energy Group Company ("China New Energy" or the "Company") is a vertically integrated natural gas company engaged in the development of natural gas distribution networks, and the distribution of natural gas to residential, industrial, and commercial users in small and medium sized cities in China. The Company generates revenues primarily from the connection fees it charges its customers for interconnecting to pipelines in its natural gas distribution networks, and fees for natural gas usage. For more information, please visit http://www.cnegc.com .

Safe Harbor Statement

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors include, but are not limited to, the Company&;s ability to access natural gas for distribution, and ability to identify and develop operational locations under favorable terms, changes in natural gas pricing mechanism imposed by the Chinese government, changes in the regulatory environment and future national or regional economic and competitive conditions, and other factors detailed from time to time in the Company&;s filings with the United States Securities and Exchange Commission and other regulatory authorities. 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.


-FINANCIAL TABLES FOLLOW-



China New Energy Group Company
Consolidated Statement of Operations and Comprehensive Income (Loss)

For the three months ended
March 31,
2010 2009
Revenues:
Connection services $1,691,362 $146,752
Natural gas 18,450 12,633
1,709,811 159,385
Cost of Sales:
Connection services 431,576 60,094
Natural gas 28,862 23,281
460,438 83,375
Gross Profit 1,249,374 76,010

Operating Expenses:
General and administrative expenses 1,308,607 287,152
Selling expenses 69,667 38,061
Registration right liabilities 0 450,000
Total operating expenses 1,378,273 775,213

Operating Income (128,899) (699,203)

Other Income (Expenses):
Change in fair value of derivative
financial instruments - warrants 399,716 (11,712,514)
Gain on acquisition 0 0
Interest income 2,439 2,212
Interest expense (2,173) (612)
Other income 529 93
Total other income (expenses) 400,511 (11,710,821)

Income From Continuing
Operations, Before Income Tax 271,612 (12,410,024)

Income Tax 289,923 997

Income From Continuing
Operations, net of Income Tax (18,311) (12,411,021)

Discontinued Operations:
Income from discontinued
operations, net of income tax (85,630) (80,522)
Gain on disposal of discontinued
operations 0 0
0 0
Income (loss) from Discontinued
Operations, net of Income Tax (85,630) (80,522)

Net Income (Loss) (103,941) (12,491,543)

Net (Income) Loss Attributable to
Non-controlling Interest (1,725) 20,955

Net Income (Loss) Attributable to
China New Energy Group (105,666) (12,470,588)

Dividend on Preferred Stock (215,175) (135,000)

Net Income (Loss) Attributable to
Common Stockholders (320,841) (12,605,588)

Other Comprehensive Income
Net Income (Loss) (103,941) (12,491,543)
Foreign currency translation gain
(loss) (5,183) (10,679)
Comprehensive Loss Attributable
to Non-controlling interest 0 5,026
Comprehensive income $(109,124) $(12,497,196)

Income (Loss) per share - Basic
Income (loss) from continuing
operations $(0.00) $(0.13)
Income (loss) from discontinued
operations $(0.00) $(0.00)
Total income (loss) per share $(0.00) $(0.13)


Income per share - Diluted
Income (loss) from continuing
operations $(0.00) $(0.13)
Income (loss) from discontinued
operations $(0.00) $(0.00)

Total income (loss) per share $(0.00) $(0.13)

Weighted average common shares
outstanding
Basic 101,788,199 100,000,041
Diluted 227,007,131 176,709,543



China New Energy Group Company
Consolidated Balance Sheets

March 31, December 31,
2010 2009
ASSETS
CURRENT ASSETS
Cash and cash equivalents $514,127 $2,672,884
Restricted cash 180,352 180,352
Accounts receivable, net of allowance
for doubtful accounts of $117,274 5,679,253 4,619,232
Receivable from sale of subsidiary 3,437,633 5,119,055
Inventories, net 296,918 271,104
Disposal receivable 0 0
Prepaid expenses 228,209 179,011
Deemed receivable from former
shareholders of subsidiaries acquired
for settlement of certain liabilities 1,984,101 1,983,782
Other current assets 0 0
Net current assets of discontinued
operations 0 0
Current assets held for sales 1,402,501 1,768,278
NET CURRENT ASSETS 13,723,094 16,793,698

Property, plant and equipment, net 9,546,014 8,000,069
Other receivables 1,933,489 2,091,092
Deposits for acquisition 1,222,946 197,696
Intangible assets, net 1,181,467 1,186,272
Deposits paid for acquisition of
long-term assets 2,642,480 1,972,162
Goodwill 224,524 224,488
Non-current assets held for sales 9,922,116 9,760,345
TOTAL ASSETS $40,396,130 $40,225,822

LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts payable $985,927 $614,642
Accruals and other payable 384,561 187,904
Acquisition consideration payable 1,652,052 1,651,888
Tax payable 1,544,065 1,323,815
Registration rights penalties payable 2,160,000 2,160,000
Related party payables
97,909 97,893
Dividends payable on preferred stock 724,555 509,381
Derivative financial instruments -
warrants 6,368,390 6,768,106
Liabilities to be settled by former
shareholders of subsidiaries acquired 1,984,101 1,983,782
Current liabilities held for sales 428,924 548,832

TOTAL CURRENT LIABILITIES 16,330,484 15,846,243

Commitments and contingencies

Preferred Stock: 10,000,000 shares
authorized, $0.001 par value
Series A Convertible Preferred
Stock: 2,098,918 and 1,857,373
shares issued and outstanding,
liquidation preference of
$10,137,774 and $8,971,112,
respectively 7,031,818 7,031,818

Series B Convertible Preferred
Stock: 1,116,388 and 0 shares
issued and outstanding, liquidation
preference of $5,399,969 and $0 2,153,307 2,153,307

CHINA NEW ENERGY&;S STOCKHOLDERS&; EQUITY
Common Stock: 500,000,000 shares
authorized, $0.001 par value,
101,788,199 and 100,000,041 shares
issued and outstanding,
respectively 101,788 101,788
Additional paid in capital 10,152,971 10,152,971
Retained earnings (Accumulated
deficit) 1,102,682 1,423,523
Statutory surplus reserve fund 1,746,890 1,746,890
Accumulated other comprehensive
income 1,606,124 1,600,941
TOTAL CHINA NEW ENERGY&;S
STOCKHOLDERS&; EQUITY 14,710,455 15,026,113

Non-controlling interest
170,066 168,341
TOTAL STOCKHOLDERS&; EQUITY 14,880,521 15,194,454

TOTAL LIABILITIES, REDEEMABLE
CONVERTIBLE PREFERRED STOCK
AND STOCKHOLDERS&; EQUITY $40,396,130 $40,225,822



China New Energy Group Company
Consolidated Statements of Cash Flows

For The Three Months Ended
March 31,
2010 2009

Cash flows from operating activities:
Net income (loss) (103,941) (12,411,020)
Net loss (income) from discontinued
operations (85,630) 80,522
Net income (loss) from continuing
operations $(18,311) $(12,491,542)

Adjustments to reconcile net income
(loss) to net cash used in operating
activities:
Change in fair value of derivative
financial instruments - warrants (399,716) 11,712,514
Allowance of bad debts 117,275 0
Gain on acquisition of Wuyuan 0 0
Registration rights penalties 0 450,000
Depreciation and amortization 79,125 45,182

Changes in operating assets and
liabilities: (1,176,564) 0
Accounts receivable 0 216,934
Other receivables 157,942 (7,786)
Inventories (25,771) (3,343)
Prepaid expenses (49,177) (57,077)
Other current assets 0 0
Accounts payable 371,191 86,657
Accruals and other payables 196,637 (6,064)
Tax payable 220,039 223,330
Cash provided by (used in) operating
activities - continuing operations (527,330) 168,805
Cash provided by (used in) operating
activities - discontinued operations 179,453 (541,533)

Net cash provided by (used in) operating
activities (347,877) (372,728)

Cash flows from investing activities
Proceeds from discontinued operations 0 0
Deposit paid and acquisition of
property, plant and equipment (2,288,812) (169,089)
Deposits for acquisitions (1,025,250) 0
Payment made to acquire subsidiary -
Chensheng 0 (1,838,946)
Payment made to acquire subsidiary -
Wuyuan 0 0
Payment made to acquire subsidiary -
Zhanhua Jiutai 0 0
Disposal receivable 1,682,263 0
Increase in short-term loan 0 0
Net cash received from exchange of
subsidiary 0 0
Cash out from disposal of subsidiary 0 0
Distribution from discontinued operation 0 0
Cash used in investing
activities-continuing operations (1,631,799) (2,008,035)
Cash used in investing
activities-discontinued operations (179,217) (32,050)

Net cash used in investing activities (1,811,016) (2,040,085)

Cash flows from financing activities
Repayment of cash advanced from director 0 0
Net proceeds from stock issuance 0 0
Payment of offering costs associated
with preferred stock 0 0
Contribution from former non-controlling
interest 0 0
Loan from related parties 0 0
Change from restricted cash 0 415
Cash used in financing
activities-continuing operations 0 415
Cash used in financing
activities-discontinued operations 0 438,852

Net cash flows provided by financing
activities 0 439,267
Effect of exchange rate changes in cash
and cash equivalents 134 (4,779)
Net increase (decrease) in cash and cash
equivalents (2,158,760) (1,978,325)
Cash and cash equivalents - beginning of
year 2,672,884 5,612,356
Cash and cash equivalents - end of year $514,124 $3,634,031
Supplemental disclosure of cash flow
information:
Cash paid for interest 0 0
Cash paid for income tax 1,302,664 371,384

Supplemental disclosure of non-cash
investing and financing activities:
Preferred stock dividends payable $215,175 $135,000
Preferred stock dividends paid in common
stock 456,953 0
Registration rights payable 2,160,000 900,000
Acquisition consideration payable
related to the acquisition of Chensheng 0 0
Acquisition consideration payable
related to the acquisition of Wuyuan 636,850 0
Acquisition consideration payable
related to the acquisition of Zhanhua
Jiutai 1,015,038 0
Receivable for disposal of discontinued
operations $5,119,055 $0



RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

Three Months Ended March 31,
Adjusted Net Income (Loss) and Diluted EPS
From Continuing Operations 2010 2009

GAAP Net Income (Loss) from
Continuing Operations ($18,311) ($12,411,021)
Change in fair value of derivative
financial instruments - warrants $399,716 ($11,712,514)
Adjusted Amount Net Income from
Continuing Operations ($418,027) ($698,507)
Weighted average number of shares
- Diluted 227,007,131 176,709,543
Adjusted Diluted EPS from Continuing
Operations ($0.00) ($0.01)


Three Months Ended March 31,
Adjusted Net Income (Loss) and Diluted EPS
Attributable to Common Shareholders 2010 2009

GAAP Net Income (Loss) and Attributable
to Common Shareholders ($320,841) ($12,605,588)

Change in fair value of derivative
financial instruments - warrants $399,716 ($11,712,514)
Adjusted Amount ($720,557) ($893,074)
Weighted average number of shares
- Diluted 227,007,131 176,709,543
Adjusted Diluted EPS Attributable to
Common Shareholders ($0.00) ($0.01)


For more information, please contact:

Company Contact:
Eric Yu, Chief Financial Officer
Email: [e-mail]
Web: http://www.cnegc.com

Investor Relations Contact:
CCG Investor Relations
Mr. Athan Dounis, Account Manager
Phone: [phone]
Email: [e-mail]
Mr. Crocker Coulson, President
Phone: [phone]
Email: [e-mail]
Web: http://www.ccgirasia.com

SOURCE China New Energy Group Company

[Sportsjunkie]

why in the world would an inactive stock whch already does not trade and have a huge spread do a reverse split..

[10 bagger]

CNER.. $0.33

Non-Reliance on Previous Financials, Audits or Interim Review
Form 8-K for CHINA NEW ENERGY GROUP CO -

15-Apr-2010

Non-Reliance on Previous Financials, Audits or Interim Review...

Item 4.02. Non-reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
On April 9, 2010, the Company's Chief Executive Officer and Chief Financial Officer concluded that the previously issued audited financial statements for the fiscal years ended December 31, 2010 included in the Company's Annual Report on Form 10-K (the "2008 10-K") filed on April, 15, 2009 and the unaudited financial statements for the three months ended March 31, 2009, June 30, 2009 and September 30, 2009 included in its Quarterly Reports on Form 10-Q filed on May 15, 2009, August 14, 2009 and November 16, 2009 (collectively, the "2009 10-Qs") should no longer be relied upon and that disclosure should be made and action should be taken to prevent future reliance.

Contemporaneously with the filing of this Current Report on Form 8-K the Company is filing an amendment to the 2008 10-K, which filing will contain restated financial statements for the fiscal year ended December 31, 2008. The Company intends to file amendments to the 2009 10-Qs as soon as is practicable.

The principal changes in the amendment to the 2008 10-K are as follows:

1. There were errors in the recording of the fair value of the assets acquired during the acquisition of Qinhuangdao Chensheng Gas Co. Ltd. ("Chensheng"). Therefore, the Group has recorded the increase to the fair value from the book value of several assets, including $1,036,655 of Property, plant and equipment, $3,012 of Inventories, and $63,014 of Goodwill and the decrease in $505,941 in Land use right. Consequently, we recalculated the $96,489 of the depreciation for such increment of those assets and minority interest in Chensheng, which caused a decrease to the minority interest by $77,647 in the consolidated balance sheet and a decrease to the minority interest's share of net income by $414,763 in the consolidated statement of operations and comprehensive income.

2. There was an error in the elimination of its intercompany accounts. Therefore, we have recorded a decrease in the related party receivable balances by $84,120 and an increase in the general and administrative expenses by $54,196 and the comprehensive income of $29,924.

3. We have reassessed the nature of the preferred stock together with warrants and we reclassified $1,857 and $7,029,961 (total amounting to $7,031,818) from preferred stock and additional paid in capital. Also, we reclassified warrant liabilities of $2,952,273 from additional paid in capital and recognized a $2,553,870 loss from the change in fair value of the warrant liabilities in the income statement and the total amount of the warrant liabilities was $5,506,143 as of December 31, 2008. In addition, we have accrued $900,000 registration right liabilities as of December 31, 2008.

4. There was an error in recording the pre-acquisition cash flow activities of the newly acquired subsidiary, Chensheng and the cash flow activities of disposed subsidiary, Hunchun. We have excluded the cash flow activities of Chensheng and included the cash flow activities of Hunchun under discontinued operations in each section of the cashflow activities. As a result, we made those adjusting entries in the cash flow statement for the year ended December 31, 2008.

5. We have some reclassifications in both Consolidated Balance Sheets and Consolidated Statements of Operations and Comprehensive Income.

Beginning in November 2009 the company began reviewing its previously filed reports and discovered the errors set forth above Those errors were discussed with board following which the company determined that a restatement was necessary and appropriate..
The Company discussed the foregoing matters with the Company's independent registered public accounting firm. The chief executive officer has authorized that the chief financial officer take the appropriate and necessary actions to restate the 2008 10-K and the 2009 10-Qs.

[10 bagger]

CNER $0.33

I don't see any dump during the day.. Although CNER was avil. in size at $0.33 during most of the day,, there were no sales at the bid.. CNER is a unuque company in that most of it's revenues come from installing services while the growth comes from the sale of such services.. Installations [revenues] could fluctuate wildy but/while the real reason for owning CNER is growing at a slower by steady pace.. I think that any purchases below $0.30 will prove rewarding and that is where my bids are.. Last year I traded CNER in size around the $0.12 level before they obtained an IR firm.. hank

"So why did this tank today? Did I miss something? "