SHANGHAI, April 14, 2021 /PRNewswire/ -- Ossen
Innovation Co., Ltd. (the "Company") (Nasdaq: OSN),
a China-based manufacturer of an array of plain surface, rare
earth and zinc coated pre-stressed steel materials, today announced
the change of auditor from BDO China Shu Lun Pan Certified Public
Accountants LLP to WWC, P.C. ("WWC") as its independent registered
public accounting firm for the fiscal year ended December 31, 2020. The Audit Committee and the
Board of Directors of the Company approved the appointment of WWC
as the Company's independent registered public accounting firm for
the fiscal year ended December 31,
2020, effective April 14,
2021.
In connection with the change of auditor, the Company provides
that:
1. the dismissal of BDO and the appointment of the Successor
Auditors have been considered and approved by the Company's audit
committee and board of directors;
2. The audit report of BDO on the financial statements of the
Company as of and for the years ended December 31, 2019 and 2018 did not contain any
adverse opinion or disclaimer of opinion, nor was it qualified or
modified as to uncertainty, audit scope, or accounting
principles.
3. There were no disagreements with BDO on any matter of
accounting principles or practices, financial statement disclosure,
or auditing scope or procedures, from the time of BDO's engagement
up to the date of dismissal which disagreements that, if not
resolved to BDO's satisfaction, would have caused BDO to make
reference in connection with its opinion to the subject matter of
the disagreement. None of "reportable events", as that term is
described in Item 16F(a)(1)(v)(A)-(D) of Form 20-F occurred within
the two fiscal years of the Company ended December 31, 2019 and 2018 and subsequently up to
the date of dismissal.
About Ossen Innovation Co., Ltd.
Ossen Innovation Co., Ltd. manufactures and sells a wide variety
of plain surface pre-stressed steel materials and rare earth coated
and zinc coated pre-stressed steel materials. The Company's
products are mainly used in the construction of bridges, as well as
in highways and other infrastructure projects. The Company has two
manufacturing facilities located in Ma'anshan, Anhui
Province, China and Jiujiang, Jiangxi
Province, China.
Safe Harbor Statements
This press release may contain 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 involve
inherent risks and uncertainties that could cause actual results to
differ materially from those projected or anticipated, including
but are not limited to, risks related to the expected timing and
likelihood of completion of a potential transaction with
Pujiang International Group Limited or any other party, including
the risk that the potential transaction may not occur, and the
risk that any announcements relating to the
potential transaction could have adverse effects on the market
price of the Company's stock, as well as risks outlined in the
Company's public filings with the Securities and Exchange
Commission, including the Company's annual report on Form 20-F, as
amended. All information provided in this press release is as of
the date hereof. Except as required by law, the Company undertakes
no obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise, after the date on which the statements are made or to
reflect the occurrence of unanticipated events.
For more information, please contact:
Wei Hua, Chief Executive
Officer
Email: int.tr@ossengroup.com
Phone: +86-21-6888-8886
Web: www.osseninnovation.com
Investor Relations
GIC IR
Phone: +1-347-393-4230
Email: info@goldenir.com
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SOURCE Ossen Innovation Co., Ltd.