China Technology Announces Change of Independent Auditor
January 26 2007 - 6:04AM
PR Newswire (US)
HONG KONG, Jan. 26 /Xinhua-PRNewswire-FirstCall/ -- China
Technology Development Group Corporation (Nasdaq: CTDC; "CTDC" or
the "Company") today announced that on December 23, 2006, the
Company appointed Friedman LLP ("Friedman"), as its independent
auditor for the fiscal year ended December 31, 2006, following the
expiry of the service term of PricewaterhouseCoopers ("PWC") on the
same date. PWC acknowledged and confirmed the client-auditor
relationship with the company has ceased in writing on January 15,
2007. The decision to change independent auditor was recommended
and approved by the audit committee and the Board of Directors of
the Company and approved by the shareholders of the Company in its
2006 Annual Meeting of Shareholders held on December 22, 2006.
During each of the fiscal years ended December 31, 2003, 2004 and
2005 and the subsequent interim period preceding the engagement of
Friedman, the Company has not consulted with Friedman regarding
either (i) the application of accounting principles to a specified
transaction, either completed or proposed; or the type of audit
opinion that might be rendered on its financial statements, and
neither a written report was provided to the Company nor any oral
advice was provided that Friedman concluded was an important factor
considered by the Company in reaching a decision as to the
accounting and auditing of financial reporting; or (ii) any matter
that was either the subject of a disagreement, as that term is
defined in Item 304(a)(1)(iv) of Regulation S-B and the related
instructions to Item 304 of Regulation S-B, or a reportable event,
as that term is defined in Item 304(a)(1)(v)of Regulation S-K.
Friedman LLP is a medium-sized firm which has more than eighty
years history in the United States, with offices established in the
New York City, Uniondale, Long Islands and East Hanover, New
Jersey. Friedman LLP is ranked #20 among Grain's Top 25 New York
Area Accounting Firms and in the top 50 firms nationally by Public
Accounting Report, Accounting Today and Inside Public Accounting.
Friedman is a member of DFK International, an association of
accounting firms across the United States and around the world. The
Company provided to PWC the disclosure in this press release filed
under the cover of Form 6-K. About CTDC: CTDC is engaged in
information network security and nutraceutical business in the
People's Republic of China. CTDC's ultimate principal shareholder
is China Merchants Group, a major Chinese state-owned enterprise.
For more information, please visit our website at
http://www.chinactdc.com/ . Forward-Looking Statement Disclosure:
This press release of the Company, which is a foreign private
issuer, on Form 6-K contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, and Section
21E of the Securities Act of 1934. These statements relate to
future events or the Company's future financial performance. The
Company has attempted to identify forward-looking statements by
terminology including "anticipates", "believes", "expects", "can",
"continue", "could", "estimates", "expects", "intends", "may",
"plans", "potential", "predict", "should", or "will" or the
negative of these terms or other comparable terminology. These
statements are only predictions, uncertainties and other factors
may cause the Company's actual results, level of activity,
performance or achievements to be materially different from any
future results, level of activity, performance or achievements
expressed or implied by these forward-looking statements. The
information in this Report on Form 6-K is not intended to project
future performance of the Company. Although the Company believes
that the expectations reflected in the forward- looking statements
are reasonable, the Company does not guarantee future results,
level of activity, performance or achievements. The Company's
expectations are as of the date this Form 6-K is filed, and the
Company does not intend to update any of the forward-looking
statements after the date this Report on Form 6-K is filed to
conform these statements to actual results, unless required by law.
Contact: China Technology Development Group Corporation Yibing
Zhang Chief Financial Officer and Company Secretary Tel:
+852-3112-8461 Email: DATASOURCE: China Technology Development
Group Corporation CONTACT: Yibing Zhang of China Technology
Development Group Corporation, +852-3112-8461, or Web site:
http://www.chinactdc.com/
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