China Digital Communication Group Engages U.S.-Based Independent Auditors Kabani & Company18 January 2006
China Digital Communication Group (OTC BB: CHID), one of the fastest growing battery components manufacturers in China, announced today that its Audit Committee and Board of Directors has approved the engagement of Kabani & Company, Inc. ("Kabani") as its new independent, registered public accounting firm. Based in Los Angeles, California, Kabani is a public accounting and consulting firm serving private and public companies with comprehensive services throughout North America, Europe and Asia. Kabani will audit China Digital's financial statements for the year ended December 31, 2005. In addition, Kabani will review the Company's financial statements related to its quarterly reports on Form 10-Q, beginning with the quarter ending March 31, 2006. Effective as of January 12, 2006, China Digital dismissed Lichter, Yu & Associates as its independent registered public accounting firm. This change is not the result of any disagreement with Lichter. Additional details can be found in the Company's Form 8-K at http://www.sec.gov. Yi Bo Sun, China Digital's Chairman and Chief Executive Officer, stated, "As we embark on our growth strategies, including U.S. market penetration, we have selected to retain a prestigious and experienced U.S.-based auditing firm, which we found in Kabani & Company. Kabani's professional team brings expertise in SEC audits and understands the needs of emerging-growth companies such as ours. As our auditors, Kabani will help ensure we meet the compliance and reporting requirements of a public company, and further support our goal to graduate to a national stock exchange in the future." About Kabani & Company, Inc. Kabani & Company, Inc. is a growing public accounting and consulting firm based in Los Angeles, California. Kabani & Company has built a solid reputation for providing quality service and expertise to both public (SEC) and private companies. The firm represents clients from a variety of industries, including high-tech, manufacturing, service, financial, hospitality and entertainment in North America, Europe & Asia. Kabani & Company, Inc. provides these services proactively through a close relationship with its clients and an in-depth understanding of its objectives. Kabani & Company is registered with PCAOB and is a member firm of AICPA SEC practice section. Kabani & Company, Inc. recently went through peer review of its quality control policies successfully. Kabani & Company was also awarded the "Certificate of Recognition" by PCPS/The AICPA Alliance for CPA firm, for its quality control standards. The firm audits and reviews financial statements in accordance with Generally Accepted Accounting Principles (GAAP). For more information, visit www.kabanico.com. About China Digital Communication Group China Digital Communication Group, through its Shenzhen E'Jenie subsidiary, is a rapidly growing manufacturer of battery shells and related technology for use in electronic products, primarily mobile phones. Since December 2003, the Company has adopted the approach of using licenses, joint ventures, mergers and acquisitions to bring battery and telecom equipment makers in China to markets overseas. The Company's products now power digital cameras, camera phones, PDAs and laptop computers in East Asia and beyond. China Digital is continuing its expansion across China, while also seeking distribution partners in the United States. For more information, visit www.chinadigitalgroup.com. Forward-looking statement: Except for the historical information, the matters discussed in this news release may contain forward-looking statements, including, but not limited to, factors relating to future sales. These forward-looking statements may involve a number of risks and uncertainties. Actual results may differ materially based on a number of factors, including, but not limited to, uncertainties in product demand, risks related to doing business in China, the impact of competitive products and pricing, changing economic conditions around the world, release and sales of new products, and other risk factors detailed in the company's most recent annual report and other filings with the Securities and Exchange Commission. For further information, contact: At the Company: China Digital Communication Group Roy Teng 310-461-1322 E-mail: Email Contact http://www.chinadigitalgroup.com Investor Relations: OTC Financial Network Peter Clark 781-444-6100, x629 Email Contact http://www.otcfn.com/chid SOURCE: China Digital Communication Group
Source: marketwire
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