UCHC News UCHC Clarifies Recent Change on Auditors

UCHC News UCHC Clarifies Recent Change on Auditors Appointment

2012-07-23 08:30 ET - News Release

SHENZHEN, China, July 23, 2012 /PRNewswire-Asia/ -- Uni Core Holdings Corporation (OTC Bulletin Board: UCHC), a Hong Kong based holding company, explained the recent change of Auditors from Albert Wong & Co. to Albert Wong & Co., LLP as filed in the Form 8K report recently by UCHC which was in fact purely a reflection of the rotation of the engagement partner of the Auditors' company.  UCHC confirmed to continue their appointment of Albert Wong & Co., LLP as Auditors.

Based on the information from United States Public Company Accounting Oversight Board and Albert Wong & Co., both of the New York city and Hong Kong companies are not only combining resources in marketing efforts and brand name, they are also sharing professional staff, technical support and training materials.  In the opinion of the management, both of them provide the same high quality valuable audit services in reasonable lead time. Both Albert Wong & Co., CPA Hong Kong, and Albert Wong & Co., LLP New York city, are well known in their audit experience for US listed companies located in China.  Albert Wong & Co. is one of the "Top 25 SEC Practices in China" according to the SEC registrant count statistic provided from the Audit Analytics in 2011 and 2012. Their ranking in the industry is rising from top 20 in 2011 to top 15 in 2012.  UCHC appointed Albert Wong & Co. since 2007 and the relationship between both parties has been pleasant and cooperative.

Mr. Thomas Lee, COO of UCHC, is particularly pleased with Albert Wong & Co. because they are a highly regarded professional CPA firm.  Whilst many China listed companies and their auditors were being criticized by their shareholders and public investors on the inaccurate and misleading accounting reports, UCHC's financial statements have always been able to reflect the true financial performance and disclosure in accordance with US GAAP, even if there was a short-term loss, rather than showing a misleading profit to window dress the ugly operating results