Telestone Engages QC CPA Group LLC as New Independent Auditor

Mon Jul 13, 2009 12:30am EDT
 
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BEIJING, July 13 /PRNewswire-Asia-FirstCall/ -- Telestone Technologies
Corporation ("Telestone") (Nasdaq: TSTC), a leading developer and provider of
wireless communication coverage solutions in the People's Republic of China,
today announced that it has engaged QC CPA Group, LLC as its new independent
registered public accounting firm, effective July 9, 2009. QC CPA Group, LLC
replaces Mazars CPA Limited ("Mazars"), which resigned on July 8 2009.
    The decision to use the new independent registered public accounting firm
was recommended, authorized, and approved by the Company's Board of Directors.
Telestone reports that there are no disagreements with Mazars CPA Limited on
any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure from the time of the initial
engagement to its resignation, including the Company's most recent fiscal year
and the subsequent interim periods through July 8 2009.
    Mr. Han Daqing, CEO of Telestone Technologies Corporation commented: "We
are glad to cooperate with QC CPA Group, LLC. We believe that QC CPA Group,
LLC can provide us with high-level and professional service. We had a nice
cooperation with Mazars CPA Limited and we look forward to having a pleasant
cooperation with QC CPA Group, LLC in the future."
    About Telestone Technologies Corporation
    Telestone provides wireless communications coverage solutions primarily in
the PRC. These solutions include products such as repeaters, antennas and
radio accessories. Telestone also provides services that include project
design, project management, installation, maintenance and other after-sales
services.
    Safe Harbor Statement
    Statements about Telestone's future expectations, including future revenue
and earnings and all other statements in this press release, other than
historical facts, are "forward-looking" statements and are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements involve risks and uncertainties and are
subject to change at any time. The Telestone's actual results could differ
materially from expected results. In reflecting subsequent events or
circumstances, Telestone undertakes no obligation to update forward-looking
statements.
    For further information please contact:

    Telestone Technologies Corporation
     Dan Shang
     Tel:   +86-10-8367-0088 x1233
     Email: zongbushangdan@telestone.com

     Jean Wen
     Tel:   +86-10-8367-0088 x1232
     Email: wenjing@telestone.com

SOURCE  Telestone Technologies Corporation

Telestone Technologies Corporation, Dan Shang, +86-10-8367-0088 x1233, or
zongbushangdan@telestone.com; Jean Wen, +86-10-8367-0088 x1232, or
wenjing@telestone.com

 

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