GONGYI, China, May 21, 2013 /PRNewswire/ -- China GengSheng
Minerals, Inc. (NYSE Amex: CHGS) (the "Company" or "GengSheng"), a
leading China-based high-tech
industrial materials manufacturer producing heat-resistant,
energy-efficient materials for a variety of industrial
applications, today announced the delayed filing of its Quarterly
Report on Form-Q for its first quarter ended March 31, 2013 because it is still finalizing the
financial statements. There was a delay in closing the books
because of turnover in some of the Company's accounting staff in
China. We anticipate filing our
Form 10-Q no later than June 14,
2013. Notwithstanding the delay in preparing our Form 10-Q, we
estimate that our Net Loss, Total Assets, Total Liabilities and
Total Equity for the first quarter of 2013 to be around
$3.8 million, $158 million, $121
million and $37 million
respectively.
About China GengSheng Minerals, Inc.
China GengSheng Minerals, Inc. ("GengSheng") develops,
manufactures and markets a broad range of high-tech industrial
material products, including monolithic refractories, industrial
ceramics, fracture proppants and fine precision abrasives. A market
leader offering customized solutions, GengSheng sells its products
primarily to the iron and steel industry as heat-resistant
components for steel-making furnaces, industrial kilns and other
high-temperature vessels to guarantee and improve the productivity
of those expensive pieces of equipment, while reducing their
consumption of energy. Founded in 1986 and based in China's Henan
province, GengSheng currently has over 170 customers in the iron,
steel, oil, glass, cement, aluminum and chemical businesses located
in China and other countries.
GengSheng conducts business through GengSheng International
Corporation, a British Virgin
Islands company, and its Chinese subsidiaries, which are
Henan GengSheng Refractories Co., Ltd., Zhengzhou Duesail Fracture
Proppant Co., Ltd., Henan GengSheng Micronized Powder Materials
Co., Ltd, Guizhou SouthEast Prefecture Co., Ltd., GengSheng New
Materials Co., Ltd, Henan GengSheng High Temperature Materials Co.,
Ltd. and Henan Yuxing Proppant Co., Ltd.
For more information about the Company, please visit
http://www.gengsheng.com.
For more information, please contact:
China GengSheng Minerals, Inc.
Investor Relations
Mr. Shuai Zhang
ir@gengsheng.com
+86-371-6405-9846
SOURCE China GengSheng Minerals, Inc.