Message #3 From:
Stock News Bot Date: July 6, 2006 05:00:00 AM
CHNG News China Natural Gas Expects to Report Record Earnings for the Second Quarter Ended June 30, 2006; Company Continues to Experience Strong Demand for Natural Gas as an Alternative to Gasoline
NEW YORK--(BUSINESS WIRE)--July 6, 2006--China Natural Gas, Inc., (OTCBB: CHNG, website: www.naturalgaschina.com) the first China-based natural gas public company traded in the U.S. capital market, today announced that the Company expects to report record second quarter financial results for the quarter ended June 30, 2006.
The Company expects to report second quarter financial results in the beginning of August. The Company cites strong demand for natural gas as an alternative to gasoline throughout the region as a primary driver of its growing expansion momentum. China Natural Gas recently announced the launch of its seventh Company-owned natural gas filling station in the Xi'An area of China.
In addition, the management team will host a series of institutional investor meetings in the US for two weeks from July 10 through July 21, 2006. Chairman and Chief Executive Officer Qinan Ji and Chief Financial Officer Xiaogang Zhu will provide an overview of the Company's natural gas and vehicular compressed natural gas businesses and growth profiles. Institutional investors may contact Debra Chen at The Piacente Group, the Company's U.S. investor relations counsel, at 212-481-2050 for information regarding the Company's meeting schedule.
China Natural Gas, Inc., ("CHNG"), a Delaware company, is the first China based US public natural gas services provider that owns and operates a 120 kilometer long compressed natural gas pipeline in China's Xi'An area, a fast growing Chinese city supported by a population of 7 million and is the "gateway" to the broad Western regions of China. CHNG has three profitable business segments: end user delivery of natural gas services to residential, commercial and industrial customers; wholesale natural gas to retail natural gas filling stations; and retail natural gas at company-owned natural gas filling stations. The city of Xi'An has approximately 20,000 Taxis, 3,000 buses and 2,000 special purpose vehicles that are powered by compressed natural gas. Approximately 8.6% of the company's shares are owned by Bodisen Biotech, Inc. (AMEX: BBC)
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of China Natural Gas, Inc. management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.
