BEIJING, Oct. 13 /PRNewswire-Asia-FirstCall/ -- Duoyuan
Printing, Inc. (NYSE: DYP) ("Duoyuan Printing" or the "Company"), a
leading offset printing equipment supplier in China, today announced that it will further
delay the filing of its annual report on Form 10-K for the fiscal
year ended June 30, 2010, which was
due on September 28, 2010. The
Company has previously filed a Form 12b-25 notification of late
filing on September 28, 2010 with the
Securities and Exchange Commission to extend the filing due date to
October 13, 2010.
Since the dismissal of Deloitte Touche Tohmatsu CPA Ltd. as its
independent registered public accounting firm on September 6, 2010, Duoyuan Printing and its audit
committee have been working to engage an audit firm to complete its
audit for the fiscal year ended June 30,
2010. As these discussions are ongoing, the Company
anticipates a further delay in filing its annual report on Form
10-K.
"Duoyuan Printing is committed to completing a thorough and
thoughtful auditing process in order to restore investor
confidence," commented Mr. Wenhua
Guo, Chairman and founder of Duoyuan Printing. "While we
will not meet the October 13 extended
filing deadline, we hope to appoint an auditing firm shortly and we
will continue to report our progress to the investment community on
a timely basis. We deeply appreciate the support of our
shareholders and the investing public during this period."
About Duoyuan Printing
Duoyuan Printing (NYSE: DYP) is a leading manufacturer of
commercial offset printing presses in China. The Company combines technical
innovation and precision engineering to offer a broad range of
printing equipment and solutions. Duoyuan Printing has
manufacturing and research and development facilities in Langfang,
Hebei Province and Shaoyang,
Hunan Province in addition to a
distribution and service network with over 85 distributors that
operate in over 65 cities and 28 provinces in China. Headquartered in Beijing, the Company is one of the largest
non-government owned major offset printing equipment and solutions
providers in China. For further
information, please visit Duoyuan Printing's website
http://www.duoyuan.com.
Safe Harbor Statement
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 that involve
risks, uncertainties and assumptions. All statements other than
statements of historical fact in this press release are
forward-looking statements, including but not limited to, our
ability to restore investor confidence, our ability to resolve open
audit issues and schedule of the filing of our annual report. These
forward-looking statements are based on management's current
expectations, assumptions, estimates and projections about the
Company and the industry in which the Company operates, but involve
a number of unknown risks and uncertainties, including, without
limitation, our ability to sustain our recent profitability and
growth rates, our ability to retain an independent registered
public accounting firm, the possibility that we may not meet our
strategic goals or may develop other priorities, and other risk
factors detailed in our Annual Report on Form 10-K for the fiscal
year ended June 30, 2009 and in our
subsequent reports on Form 10-Q filed with the Securities and
Exchange Commission and available at http://www.sec.gov. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and actual
results may differ materially from the anticipated results. You are
urged to consider these factors carefully in evaluating the
forward-looking statements contained herein and are cautioned not
to place undue reliance on such forward-looking statements, which
are qualified in their entirety by these cautionary statements.
For investor and media enquiries please contact:
Brunswick Group
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Henry Fraser
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Tel:
+86-10-6566-2256
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Email:
duoyuanprinting@brunswickgroup.com
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SOURCE Duoyuan Printing, Inc.
Copyright . 13 PR Newswire