China GengSheng Minerals States that Its Policy Is Not to Comment on Unusual Market Activity Company to Issue Third Quarter Earnings Press Release and File 10-Q on November 10, 2011; Conference Call Remains Scheduled for 8:00 A.M.ET November 11, 2011
GONGYI, China, Nov. 9, 2011 /PRNewswire-Asia-FirstCall/ -- China GengSheng Minerals, Inc. (NYSE Amex: CHGS), a leading China-based high-tech industrial materials manufacturer producing heat resistant, energy efficient materials for a variety of industrial applications, today confirmed that in view of unusual market activity in its common stock on Monday, November 7, 2011, the NYSE Amex contacted the Company in accordance with its standard practices. The Company stated that its policy is not to comment on unusual market activity, and is unaware of any non-public information that would account for the unusual trading activity.
Additionally, the Company announced that it plans to issue its third quarter 2011 financial results press release and file the corresponding quarterly report on form 10-Q after the close of trading on Thursday, November 10, 2011 rather than before the open of trading on Friday, November 11, 2011, as announced previously.
GengSheng's third quarter 2011 financial results conference call will be held at 8:00 a.m. ET (9:00 p.m. Beijing time) on Friday November 11, 2011, as previously scheduled. To participate in the call, please dial (877) 407-9205 in the U.S. and Canada, or (201) 689-8054 internationally.
For those unable to participate, an audio replay of the call will be available beginning approximately one hour after the conclusion of the live call through November 25, 2011. The audio replay can be accessed by dialing (877) 660-6853 in the U.S. and Canada, or (201) 612-7415 internationally, and entering account number 286 and conference ID 381628.
The call will also be available as a live, listen-only webcast under the "Events Calendar" section of the Company's website at http://www.gengsheng.com/english/affair.aspx. Following the live webcast, an online archive will be available for one year.
About China GengSheng Minerals, Inc.
China GengSheng Minerals, Inc. ("GengSheng") develops, manufactures and markets a broad range of high-tech industrial material products, including monolithic refractories, industrial ceramics, fracture proppants and fine precision abrasives. A market leader offering customized solutions, GengSheng sells its products primarily to the iron and steel industry as heat-resistant components for steel-making furnaces, industrial kilns and other high-temperature vessels to guarantee and improve the productivity of those expensive pieces of equipment, while reducing their consumption of energy. Founded in 1986 and based in China's Henan province, GengSheng currently has over 200 customers in the iron, steel, oil, glass, cement, aluminum and chemical businesses located in China and other countries. GengSheng conducts business through GengSheng International Corporation, a British Virgin Islands company, and its Chinese subsidiaries, which are Henan GengSheng Refractories Co., Ltd., Zhengzhou Duesail Fracture Proppant Co., Ltd., Henan GengSheng Micronized Powder Materials Co., Ltd, Guizhou SouthEast Prefecture Co., Ltd., GengSheng New Materials Co., Ltd, and Henan GengSheng High Temperature Materials Co., Ltd.
For more information about the Company, please visit http://www.gengsheng.com.
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Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of China GengSheng Minerals, Inc., and its subsidiary companies. All statements other than statements of historical fact included herein are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's ability to meet its projected output for the term of the supply contract; the general ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
In the US:
The Piacente Group, Inc.
Brandi Floberg or Lee Roth
The Piacente Group, Inc.
China GengSheng Minerals, Inc.
Mr. Shuai Zhang
SOURCE China GengSheng Minerals, Inc.