HARBIN, China, Jan. 20 RenhuangPharmaceuticals, Inc. (Pink Sheets: RHGP) (''Renhuang'' or ''the Company''), aleading pharmaceutical company in the People's Republic of China (''PRC''),today announced that it has engaged Moore Stephens, P.C. (''MSPC'') as its newindependent auditor, effective January 9, 2009. Moore Stephens, P.C. replacesSchwartz Levitsky Feldman, LLP ("Schwartz"), which was dismissed on the sameday.
The Company's decision to change its independent auditor was recommended,authorized and approved by the audit committee of Renhuang's board ofdirectors. Renhuang had no disagreements with Schwartz from the time of theinitial engagement to its dismissal on any matter of accounting principles orpractices, financial statement disclosure, or auditing scope or procedure,which, if they had not been resolved to Schwartz, would have caused them tomake reference to the disagreements in their reports on Renhuang's financialstatements.
''We are pleased to engage Moore Stephens, which has an excellentreputation and strong experience working with Chinese companies listed in theU.S., as our new independent auditor,'' commented Mr. Shaoming Li, ChiefExecutive Officer of Renhuang, ''We look forward to achieving the higheststandard of financial reporting to our shareholders in the future as a resultof our cooperation with MSPC.''
About Renhuang Pharmaceuticals, Inc.
Founded in 1996, Renhuang Pharmaceuticals, Inc, produces western,traditional Chinese medicines (TCM), and branded pharmaceuticals, using itsGMP-certified facilities in China. The Company's GMP-certified manufacturingfacilities, containing cutting-edge technologies and advance equipment, arecapable of producing as many as 200 types of pharmaceuticals. Additionally,Renhuang distributes raw materials and finished pharmaceutical products usingits extensive distribution channels and third party distributors throughoutChina. The Company's distribution network includes over 3,000 salesrepresentatives in 70 sales centers across 24 districts, covering over 50% ofgreater China. The Company also exports its products to Russia and SoutheastAsia. For more information, visit http://www.renhuang.com .For more information, please contact: Renhuang Pharmaceuticals, Inc. Ms. Shuang Tan, IR Contact Phone: +86-451-5392-5461 Email: email@example.com CCG Investor Relations Inc. Mr. Crocker Coulson, President Phone: +1-646-213-1915 (New York) Email: firstname.lastname@example.org Web: http://www.ccgirasia.com
SOURCE Renhuang Pharmaceuticals, Inc.