China Natural Gas Establishes U.S. Office in New York City Hires Two Finance V.P.s
24 Juli 2007 - 10:01PM
PR Newswire (US)
NEW YORK, July 24 /PRNewswire-FirstCall/ -- China Natural Gas, Inc.
(OTC:CHNG) (BULLETIN BOARD: CHNG) , one of the leading providers of
compressed natural gas (CNG) for vehicular fuel in Xi'an, China,
today announced the opening of its U.S. office in New York City.
Mr. Qinan Ji, Chief Executive Officer of China Natural Gas stated,
"As a publicly traded U.S. company, we are devoting the appropriate
time and resources to maintain a presence on the ground in the U.S.
This effort allows us to be accessible to our investors, as well as
more effectively interact with our U.S.-based legal counsel,
independent auditing firm and investor relations consultant. We
look forward to strengthening our relationship with the investment
community through this tangible New York presence." The Company
also announced that Mr. Taylor Zhang and Mr. Dan S. Chang have
joined China Natural Gas and will be working out of the New York
office. Mr. Zhang and Mr. Chang are both vice presidents in the
finance department reporting directly to the Chief Executive
Officer and Chief Financial Officer. Mr. Chang previously worked in
Asia in investment banking roles, most recently at Taiwan
Securities Company and Polaris Securities Group. He was involved in
various investment banking transactions, including IPOs, follow-on
offerings, and mergers and acquisitions. During his tenure at these
firms, he also was responsible for communication efforts between
publicly listed companies, institutional investors and regulatory
authorities. Mr. Chang holds an MS in accounting from Pace
University, and an MBA degree from National Chengchi University in
Taiwan. Prior to joining the China Natural Gas, Taylor Zhang worked
as a financial analyst at New York Private Equity covering early
stage companies of multiple industries with focus on the energy
sector. His was also responsible for planning and organizing
monthly investment conferences at which themed companies presented
to institutional investors, including hedge funds, private equity
funds, venture capital funds, angel investors and other accredited
investors. He previously served as VP of Finance of Datong Thermal
Power. Mr. Zhang graduated from University of Florida with an MBA
degree. Mr. Chang and Mr. Zhang commented, "We are delighted to
join China Natural Gas at such an exciting time in the Company's
history and we look forward to strengthening our relationships with
the financial community." About China Natural Gas, Inc. China
Natural Gas, Inc., ("CHNG"), is the first China-based natural gas
company publicly traded in the US. It currently owns and operates a
120 kilometer long compressed natural gas pipeline in Xi'an, China,
a fast growing Chinese city supported by a population of
approximately eight million and is the "gateway" to the broad
Western regions of China. CHNG has three profitable business
segments: end user delivery of natural gas services to residential,
commercial and industrial customers; wholesale natural gas to
retail natural gas filling stations; and retail natural gas at
company-owned natural gas filling stations. The city of Xi'an has
approximately 20,000 taxis, 3,000 buses and 2,000 special purpose
vehicles that are powered by compressed natural gas. This press
release may contain forward-looking statements. These statements
are based on the current expectations or beliefs of China Natural
Gas, Inc. management and are subject to a number of factors and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements, including
the fluctuation of natural gas prices, the availability of natural
gas supplies, changes in governmental regulations and/or economic
policies. DATASOURCE: China Natural Gas, Inc. CONTACT: Ashley Ammon
MacFarlane or Bill Zima of Integrated Corporate Relations for China
Natural Gas, Inc., +1-203-682-8200
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