Message #10 From:
NewsBot Date: August 16, 2006 05:00:00 AM
CHNG News China Natural Gas to Present at the Roth Capital Partners New York Conference
NEW YORK--(BUSINESS WIRE)--Aug. 16, 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 it will present at the Roth Capital Partners 2006 New York Conference. The conference is being held September 6-7, 2006 at the Westin Times Square Hotel in New York City. Chairman and Chief Executive Officer Charles Qinan Ji, and Chief Financial Officer Xiaogang Zhu will present at Thursday, September 7, 2006 at 12:00 p.m. Eastern Time.
In early August, China Natural Gas announced record second quarter revenues of $3.7 million, up 245% year-over-year and net income of $927,269 (fully diluted EPS of $0.04), up 139% year-over-year. The Company also recently signed a 5 year natural gas supply contract with Zhengzhou Zhongyou Oil & Gas Co., Ltd., a subsidiary of Sinochem, to expand their operations into Henan, China's Most Populous Province.
A live webcast of the audio presentation will be available along with accompanying presentation slides. Interested parties may tune in to the live presentation by visiting: http://www.wsw.com/webcast/roth8/chng.ob/.
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 approximately 8 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.
