SinoCoking Coal And Coke Chemical Industries Appoints Song Lv As Chief Financial Officer - wave3.com-Louisville News, Weather & Sports

SinoCoking Coal And Coke Chemical Industries Appoints Song Lv As Chief Financial Officer

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SOURCE SinoCoking Coal and Coke Chemical Industries, Inc.

PINGDINGSHAN, China, May 6, 2014 /PRNewswire-FirstCall/ -- SinoCoking Coal and Coke Chemical Industries, Inc. (Nasdaq: SCOK) (the "Company" or "SinoCoking"), a vertically-integrated coal and coke processor, today announced that Song Lv has been appointed the Company's Chief Financial Officer effective April 18, 2014.

Sam Wu has resigned as Chief Financial Officer to pursue other business opportunities. Mr. Wu will remain with SinoCoking in an advisory capacity until February 2015.

Song Lv has served as controller in the finance and accounting department of the Company since June 2010 and over the years he had increasing responsibilities which led to his new role as Chief Financial Officer. He brings two decades of financial and accounting experience in several industries, including mining, chemical and energy.  

Previously he was Vice President and Chief Financial Officer at Xinhe Investment Co., Ltd, assistant to CEO at Canton Union Group, finance manager at Beijing Watchdata Intelligent Technology, Beijing North Fang Fuji Technology Group and China Finance Research Institute of Petroleum. He earned a bachelor's degree in accounting from Northeastern University.   

Mr. Lv joins SinoCoking at the time when the Company has started construction to retrofit its existing coking facility to produce clean-burning syngas. When construction is complete, the Company will announce its gas distribution plans.

Song Lv commented, "I am very enthusiastic about my opportunity as CFO of SinoCoking at this moment when the Company is making the historic decision to become an environmentally friendly producer of fine organic chemicals and of clean gas in significant quantities. We know that China is on a track towards a cleaner environment and we plan to be the first private coking company in China to implement this type of plan. We've begun construction and believe we will be in production in the fourth quarter of calendar year 2014."

SinoCoking's Chairman and CEO, Mr. Jianhua Lv noted, "It was a pleasure working with Sam for these many years. I want to express my gratitude for his valuable contribution over the years and I am pleased that he will be available to assist the Company during the transition. I wish him the best in his future endeavors."

He added, "Our Board is confident that Song's strong financial background and his deep industry knowledge will be extremely valuable to our Company as we continue to implement our strategic initiatives to further improve our operating and financial efficiency and increase shareholder value."

About SinoCoking

SinoCoking and Coke Chemical Industries, Inc., a Florida corporation, is a vertically-integrated coal and coke processor that uses coal from both its own mines and that of third-party mines to produce basic and value-added coal products for steel manufacturers, power generators, and various industrial users. SinoCoking has been producing metallurgical coke since 2002, and acts as a key supplier to regional steel producers in central China. SinoCoking also produces and supplies thermal coal to its customers in central China. SinoCoking currently owns its assets and conducts its operations through its subsidiaries, Top Favour Limited and Pingdingshan Hongyuan Energy Science and Technology Development Co., Ltd., and its affiliated companies, Henan Province Pingdingshan Hongli Coal & Coke Co., Ltd., Baofeng Coking Factory, Baofeng Hongchang Coal Co., Ltd., Baofeng Hongguang Environment Protection Electricity Generating Co., Ltd., Zhonghong Energy Investment Company, Henan Hongyuan Coal Seam Gas Engineering Technology Co., Ltd., Baofeng Shuangrui Coal Mining Co., Ltd. and Baofeng Xingsheng Coal Mining Co., Ltd.

For further information about SinoCoking, please refer to our periodic reports filed with the Securities and Exchange Commission.

Forward Looking Statement

This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans", "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think", "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from the Company's expectations and estimates. The Company provides no assurances that any potential acquisitions will actually be consummated, or if consummated that such acquisitions will be on terms and conditions anticipated on the date of this press release, and the Company makes no assurances with regard to any results of any such acquisitions.

Contact:


SinoCoking

Investor Relations Counsel:

Song Lv, Chief Financial Officer

The Equity Group Inc.

+ 86-375-2882-999

Lena Cati

lvsong@sinocoking.net

lcati@equityny.com  / (212) 836-9611

www.scokchina.com

www.theequitygroup.com

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