SHENZHEN, China, July 19 /PRNewswire-Asia-FirstCall/ -- China Ritar Power Corporation (Nasdaq: CRTP) announced that it has dismissed AGCA Inc. ("AGCA"), the Company's independent registered public accounting firm. AGCA reported on the Company's consolidated financial statements for the years ended December 31, 2009 and 2008 and reviewed the Company's consolidated financial statements for the period ended March 31, 2010. For these periods and up to July 9, 2010, there were no disagreements with AGCA on any matter of accounting principle or practices, financial statement disclosure, or auditing scope or procedure.
The Company has engaged Crowe Horwath (HK) CPA Limited ("CHHK") to assume the role of its new independent registered public accounting firm.
"In connection with our growth strategy and expansion plans going forward, we determined that it was important to engage an accounting firm with strong reputation and respect among our investors," commented Mr. Hu Jiada, CEO of CRTP. "We believe CHHK, which is a member firm of Crowe Horwath International, the 9th largest international accounting network in the world, is the best fit for the Company as it enters a new phase of growth and development. We are very excited of working closely with the high-quality team of CHHK in the future."
About China Ritar Power Corporation
China Ritar Power Corporation (NASDAQ: CRTP) ("China Ritar") is the leading supplier of innovative nano gel and environmentally friendly battery products and solutions for power applications and power storing systems. China Ritar's products and solutions are used in Alternative Energy (solar and wind power), Telecommunications (3G), Uninterrupted Power Source (UPS) and Light Electrical Vehicles (LEV) industries. In 2009, China Ritar had sales of $98.6 million and currently employs about 1,800 people worldwide. Ritar (R) is a registered trademark of China Ritar in China and other countries. All product names are trademarks of China Ritar (including its subsidiaries).
