China Prosperous Clean Energy Corporation (CHPC) is engaged in the business of wholesale and retail sales of compressed natural gas (CNG) and liquefied petroleum gas (LPG), construction and operation of CNG and liquefied petroleum gas LPG filling stations. The Company carries out three types of primary operations, which include retail sales of CNG and operation of CNG filling stations, retail sales of LPG and operation of LPG filling stations and wholesale of LPG and CNG. The Company operates 11 gas filling stations, including five CNG stations and six LPG stations. In addition, it is constructing three CNG filling stations and one pipe network as of December 31, 2008. The customers of its retail CNG/LPG filling stations are the CNG and LPG powered vehicles and hybrid powered vehicles. The customers of its LPG and CNG wholesale business are LPG/CNG retailers.
10Q filed 05/15/2009
Share structure. OTCBB fully reporting.
Sleeper Stock in the Green. More info to follow.
China Prosperous Clean Energy Corporation (OTC.BB: CHPC), a retailer and wholesaler of compressed natural gas and liquefied petroleum gas through its subsidiaries based in China, today announced the appointment of Ben Wang as Chief Financial Officer (CFO). Shiming Yu resigned from the position of Chief Financial Officer on the same day.
Wang, age 36, has experience in public company analysis, qualitative and quantitative financial analysis, including modeling and forecasting. Most recently he serviced as Chief Financial Officer at New Oriental Energy & Chemical Corporation, and was an equity research analyst at Brean Murray Carret Co., Ltd., a boutique institutional investment bank and research firm. Prior to that he did risk solutions consulting in Standard & Poor's, and was a senior equity research analyst for Century Securities Co., Ltd. He will report to Wei Wang, the Company's CEO.
"We believe Mr. Wang will be an excellent addition to our senior management team," commented Wei Wang, the Company's CEO. "Mr. Wang will continue to improve and integrate new financial controls to improve reporting and analysis as our organization pursues this growth strategy. Mr. Wang's background and experience in the public markets will benefit our Company's ability to articulate its story to the investment community, establish and maintain relationships with key institutional investors and sell side analysts, which should create further diversification of our shareholder base."
Mr. Wang earned his Ph.D. from the Department of Decisions, Risk & Operations Management at Columbia Business School in New York, NY in 2003. He was awarded an M.E. from Tsinghua University in Beijing and a B.E. in Electronic Engineering from University of Electronic Science & Technology of China in Chengdu. He is also charterholder of CFA and FRM.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and the marketability of its products; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
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