Third Quarter 2011 Highlights

• Revenue was $2.6 million
• Gross profit was $0.5 million, representing a gross margin of 19.18%
• Net income was $0.071 million.

Third Quarter 2011 Results

The Company reported total revenue of $2.6 million for the three months ended September 30, 2011, a 67.76% decrease from revenue of $8.04 million in the same period of 2010. This decrease is mainly due to a significant decrease in service revenue, which in turn is due to the move to the Company’s new factory not being completed during the quarter.

Gross profit in the third quarter of 2011 was $0.5 million, a decrease of 82.53% from the $2.85 million in gross profit generated in the third quarter of 2010. The decrease in gross profit was primarily due to the period-over-period decrease in service revenues and an increase of the product cost. The main reduction in margin was due to the decline in service revenues as well as certain manufacturing operations being subcontracted out pending the completion of the Company’s new factory.

Total operating expenses were $0.32 million for the three months ended September 30, 2011, as compared to $0.31 million for the same period of 2010. However, when compared to the $0.4 million of total operating expenses in the second quarter of 2011, total operating expense are decreasing for the year.

Income from operations was $0.18 million for the three months ended September 30, 2011, as compared to $2.53 million for the same period of 2010, a decrease of $2.35 million or approximately 93.18%. This decrease is primarily due to a significant reduction in service revenues and gross margin combined with an increase in operating expenses.

N ine Months ended Sep tember 30, 2011 Results

Revenue for the first nine months of 2011 was $10.09 million, down 44.23% from the first nine months of 2010. Gross profit was $2.42 million, down 56.42% from gross profit of $2.7 million in the comparable period a year ago. Gross margin was 23.96%, compared to 30.67% in the prior year period. Operating income was $1.33 million, down 72.71% from $4.85 million in the first nine months of 2010. Net income was $0.87 million, down 77.35% from $3.8 million in the first nine months of 2010. Diluted earnings per share were $0.16 for the first nine months of 2011 compared to $0.70 in the first nine months of 2010.

Financial Condition

As of September 30, 2011, the Company had $0.15 million in cash and cash equivalents compared to$0.82 million in cash and cash equivalents on December 31, 2010. Working capital was $2.15 million.

The Company used $0.61 million in net cash from operating activities for the nine months endedSeptember 30, 2011, compared to generating $3.16 million in the same period of 2010. Payments on construction in progress totaled $2.7 million. The Company raised $3.0 million from a bank loan and the issuance of short-term promissory notes.

Adjustment of forecast result of fiscal year 2011

In early 2011, based upon the assumption that the Company would obtain $15 million in financing, the Company projected that total revenue and the net profit in 2011 would be between $30 million to $32 million and $6 million to $6.5 million, respectively.

However, the Company now expects that annual revenue for 2011 will be approximately $15 million and net income will be approximately $2 million, which is a decrease of approximately 40% and 50% compared to 2010, respectively.

The main reason for adjusting the financial forecast for 2011 is primarily due to (i) the delay of financing that caused a delay in completing construction of the new manufacturing facility and as a result, the Company has to subcontracting part of the manufacturing process to third parties which lead to a decrease in product revenue and net income; and (ii). the agreements for the Gaizhou Biomass Energy Project and Petrol-chemical System Pipeline Project did not receive the anticipated consents due to lack of resource and as a result the expected project revenue was not generated.

SOURCE NF Energy Saving Corporation

China’s threat comes after the European Union and other nations moved to ban HFC-23 credits from internal carbon markets in recognition of the perverse incentives created by these credits under the UN Clean Development Mechanism (CDM). The vast amounts paid for HFC-23 offsets have led factories inChina and elsewhere to manufacture far more HCFC-22 and its HFC-23 by-product than necessary, just to maximize the amounts paid to destroy HFC-23 through the UN-backed carbon trading scheme.

In a shocking attempt to blackmail the international community, Xie Fei, revenue management director at the China Clean Development Mechanism Fund, threatened: “If there’s no trading of [HFC-23] credits, they’ll stop incinerating the gases” and vent them directly into the atmosphere. Speaking at the Carbon Forum Asia in Singapore last week, Xie Fei claimed he spoke for “almost all the big Chinese producers of HFCs who “can’t bear the cost” and maintain that “they’ll lose competitiveness”.

China’s claim belies the fact that HFC-23 can be destroyed for just 0.20 cents per CO2e tonne. The destruction of one CO2e tonne generates one Certified Emission Reduction (CER) under the CDM, which historically has been sold on carbon markets at an average price of $18 — 70 times the actual cost of destroying HFC-23.

Because of these vast profits, China has repeatedly rejected attempts to destroy HFC-23 emissions through the Montreal Protocol. At the 2009 and 2010 Meetings of the Parties to the Montreal Protocol,China blocked progress of a North American proposal to pay the actual costs of destroying HFC-23 emissions at plants not currently covered by the CDM, which account for over half of developing country HFC-23 production.

HFC-23 is produced as an unintentional by-product of the refrigerant HCFC-22, itself a powerful greenhouse gas and ozone depleting substance. This means that the quantity of HFC-23 produced is directly related to the production of HCFC-22. HFC-23 is an important contributor to climate change because of its incredibly high 100-year global warming potential (GWP) of 14,800.

“Attempting to force countries into squandering billions on fake offsets that actually increase production of greenhouse gases is extortion,” said Samuel LaBudde, Senior Atmospheric Campaigner with the Environmental Investigation Agency (EIA). “China is not the victim here, and a world order responsive to climate change cannot be predicated on unrepentant greed.”

With a 65 per cent tax on CDM projects, the Chinese Government has already received $1.3 billion — enough to destroy all the HFC-23 it produces for decades to come. Despite this, China still vents at least as much HFC-23 as it destroys, since about half of its HCFC-22 production is ineligible for CDM funding.Xie Fei’s statement makes it clear that preventing emissions is not nearly as important for China as continuing the enormous CDM revenues that benefit its government and industry alike.

“Carbon offsets derived from HFC-23 crediting only serve to subsidize the production of greenhouse gases and have no place in the future of carbon markets,” said Mark Roberts, International Policy Advisor for EIA. “If China is genuinely concerned about climate change rather than profiting from a fatally flawed system, it will stop blocking efforts to control HFC-23 emissions and stop threatening to hold global climate hostage to its unrealistic demands.”

In the week before the Durban climate talks, the Montreal Protocol will again consider the proposal to control non-CDM HFC-23 emissions. Similarly, the CDM Executive Board will also convene to discuss revisions to the HFC-23 methodology, based on recommendations from its Methodologies Panel that recognize at least two-thirds of the HFC-23 credits issued to be fraudulent. To date, China has blocked moves in both forums. The CDM Executive Board must also decide whether to renew existing contracts for HFC-23 destruction and allow crediting for facilities not covered by the CDM, considerations that are strongly opposed by the international NGO community.

“The minimal cost of capture and destruction of HFC-23 should be borne by the HCFC-22 producers as the price of responsible business practice,” said Clare Perry, Senior Campaigner at EIA. “HFC-23 CDM projects have cost European taxpayers untold millions, and allowed European industries to increase their emissions while subsidizing chemical producers in China to produce yet more greenhouse gases. These dirty credits should be discontinued immediately.”

China has failed to use any of the windfall revenues from the sale of HFC-23 credits to address emissions of HFC-23 at Chinese plants not covered by the CDM.   Virtually every manufacturer of HCFC-22 in the world outside of China or not covered by the CDM voluntarily captures and destroys HFC-23 by-product as standard business practice, including manufacturers in the EU and the US.

More information and EIA reports on HFC-23, the CDM, Montreal Protocol and related issues can be found at http://www.eia-global.org/global_climate/global_climate_reports.html

Contact:

• Samuel LaBudde at samlabudde@eia-global.org or call +1 202 632 7174
• Clare Perry at clareperry@eia-international.org or call +34 664348821
• Mark Roberts at markroberts@eia-global.org or +1 978 298 5705

SOURCE Environmental Investigation Agency

– Q2 FY 2011 revenue increased 57.1% to $32.2 million
– Net income of $3.8 million, with EPS of $0.08 per share
– Adjusted Non-GAAP Net income of $4.9 million, with adjusted EPS of $0.11 per share.
– Gross profit margin 32.9%

Summary Financials

Second Quarter Results

For the quarter ended May 31, 2011, the Company reported revenue of $32.2 million, a 57.1% increase over revenue of $20.5 million in the second quarter of fiscal year 2010. Quarterly sales from the Company’s coal group increased to $26.2 million, or 81% of total sales, compared to $17.5 million, or 86% of total sales in the prior-year quarter. As a component of this, 42% of total Company sales came from coal production, and 39% came from coal trading during the quarter. China Energy produced approximately 322,000 metric tons of coal in the second quarter of 2011, compared to 227,000 metric tons in the same period of fiscal year 2010. The 41.9% year-over-year increase in production from the Company’s Coal Group was mainly due to the approval by the local government of an increase in the amount of coal that the Company was allowed to produce in 2011. The volume of coal sold by our proprietary trading business was approximately 190,000 metric tons during the three months ended May 31, 2011, compared to 183,000 metric tons in the comparable three months in 2010. This increase was mainly attributable to a greater railway transportation quota obtained for 2011.

Sales from heat power group totaled $6.0 million in the second quarter of 2011, or 19% of total sales compared to $3.0 million, or 14% of total sales in the prior-year quarter.

“We are pleased to report another quarter of strong revenue growth, which benefited from the significant growth in sales from our Coal Group,” stated Wenxiang Ding, chief executive officer and president. “We will continuously expand our proprietary coal trading business. We also expect the continued development of the XueJiaWan district to fuel growth in our Heat Power segment.”

Cost of goods sold in the second quarter of fiscal year 2011 was approximately $21.6 million, compared to approximately $12.0 million in the second quarter of 2010. Gross profit was $10.6 million and the gross margin was 32.9% in the quarter, compared to $8.5 million in gross profit and a gross margin of 41.5% during the same period in fiscal year 2010. The year-over-year gross margin decrease was due to lower margins from the Company’s Coal Group. In order to expand our proprietary coal trading business, Coal Group purchased more coal from third parties during the three months ended May 31, 2011, which were less profitable than coal purchased from Laiyegou coal mine in terms of gross margin and resulted in decrease of gross margin of coal trading business from 32% to 19%.

Total operating expenses for the second quarter of fiscal year 2011 were approximately $3.7 million, or 11.5% of revenue, compared to $2.0 million, or 9.8% of revenue in second quarter fiscal year 2010. Selling and marketing expenses in second-quarter fiscal year 2011 were $1.4 million, flat versus last year, due to lower transportation and storage expenses, offset by high sales tax. General and administration expenses totaled $2.3 million, compared to $0.6 million in the same period in fiscal year 2010 due to higher professional and other fees. This increase was mainly attributable to non-cash stock-based compensation charge of $1.5 million in the second quarter of 2011, which was not present in the year ago period.

Operating income for the second quarter of 2011 totaled approximately $6.9 million, a 7.8% increase from $6.4 million reported for the second quarter of 2010. Operating margins were 21.4% and 31.2% for the second quarter of 2011 and 2010, respectively. Excluding non-cash stock-based compensation of $1.5 million, adjusted operating income for the second quarter of 2011 was $8.4 million with operation margins of 26.1%. (Please see “About Non-GAAP Financial Measures” below.)

Net income during the quarter totaled approximately $3.8 million, or $0.08 per share, compared to $4.4 million, or $0.10 per share in the second quarter of fiscal year 2010. The weighted average common shares outstanding were 45.06 million and 45 million respectively, in each period. Adjusted Non-GAAP net income for the second quarter was $4.9 million, or $0.11 per diluted common share based on 45.06 million diluted common stocks outstanding for the second quarter of 2011. (Please see “About Non-GAAP Financial Measures” below.)

Six Month Results

For the six months ended May 31, 2011, the Company reported revenue of $54.5 million, a 32.0% increase over revenue of $41.3 million in the same period of fiscal year 2010. Six-month sales from the Company’s Coal Group increased 26.9% to $42.5 million, or 78% of total sales, compared to $33.8 million, or 82% of total sales in the prior year. As a component of this, 37% of total Company sales came from coal production, and 41% came from coal trading during the six months period of time. China Energy produced approximately 454,000 metric tons of coal during the first six months of fiscal 2011, compared to 383,000 metric tons in the same period of fiscal year 2010 The 18.5% year-over-year increase in production from the Company’s Coal Group was mainly due to the approval by the local government of the amount of coal that the Company was allowed to produce in 2011. The volume of coal sold by our proprietary trading business is approximately 382,000 metric tons during the six months ended May 31, 2011, compared to 353,000 metric tons in the comparable six months in 2010. The 8.2% year-over-year increase in proprietary coal trading volumes was mainly due to our railway transportation quota increase from 660,000 tons in 2010 to 760,000 tons in 2011. Sales at the Heat Power group totaled $12.0 million, or 22% of total sales compared to $7.5 million, or 18% of total sales in the same period of last year.

Cost of goods sold for the six months ended May 31, 2011 was approximately $35.9 million, compared to approximately $25.9 million in the prior year. Gross profit was $18.6 million and the gross margin was 34.1% in the six months of fiscal 2011, compared to $15.4 million in gross profit and a gross margin of 37.3% during the same period in fiscal year 2010.

Total operating expenses for the six months of fiscal year 2011 were approximately $6.1 million, or 11.2% of revenue, compared to $4.0 million or 9.7% of revenue same period in fiscal year 2010.

Net income for the six months of fiscal year 2011 totaled approximately $8.2 million, or $0.18 per share, compared to approximately $8.4 million, or $0.19 per share in the same period in fiscal year 2010. Net income margins were 15.0% for the first six months of fiscal year 2011. Per share amounts for the second quarters of 2011 and 2010 are based on 45.06 million and 45 million shares outstanding, respectively. Adjusted Non-GAAP net income for the first six months of 2011 was $9.3 million, or $0.21 per diluted common share. (Please see “About Non-GAAP Financial Measures” below.)

Balance Sheet and Cash Flow

Cash and cash equivalents totaled $23.0 million on May 31, 2011 compared to $4.6 million on November 30, 2010. The Company had total assets of $142.8 million versus total liabilities of $79.9 million as of May 31, 2011. For the first six months of fiscal year 2011, cash used in operation by the Company was $17.6 million versus cash generated from operating activities amounting to $4.8 million in the same period of fiscal year 2010 due to higher level of advances paid to suppliers for purchase of coal to assure the stability of our proprietary coal trading business.

About China Energy Corporation

China Energy Corporation produces and processes raw coal for domestic heating, electrical generation and coking purposes for steel production primarily in the People’s Republic of China, and acts as a brokerage in facilitating coal trade transactions. The Company produces coal through its subsidiary Inner Mongolia Tehong Coal Group Co, Ltd. (“Coal Group”) and supplies heating and electricity requirements throughout the XueJiaWan district through its subsidiary Inner Mongolia Zhunger Heat Power Co., Ltd. (“Heat Power”). Through Heat Power, China Energy operates a thermoelectric plant and 32 heat transfer stations located in XueJiaWan, Ordos City in which the Company has a monopoly for heating supply granted to the Company by the local government. For additional information on China Energy Corporation see http://www.ceccec.com.

Cautionary Statement Regarding Forward-Looking Information

This press release may contain certain “forward-looking statements” relating to the business of China Energy Corporation, and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the impact of the proceeds from the private placement on the Company’s short term business and operations, the general ability of the Company to achieve its commercial objectives, including the ability of the Company to sustain growth; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov)

About Non-GAAP Financial Measures

To supplement the Company’s consolidated financial statements, which statements are prepared and presented in accordance with GAAP, we use the following non-GAAP financial measures: non-GAAP adjusted net income and non-GAAP adjusted EPS. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company uses these non-GAAP financial measures for financial and operational decision making and as a means to evaluate period-to-period comparisons. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance and liquidity by excluding certain expenses and expenditures that may not be indicative of “recurring core business operating results”, for example, operating performance excluding a non-cash stock-based compensation charge. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing performance and when planning, forecasting and analyzing future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to historical performance and liquidity as well as comparisons to competitors’ operating results. The Company believes these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision making and (2) they are used by our institutional investors and the analyst community to help them analyze the health of the business.

SOURCE China Energy Corporation

June’s demand of 36.92 million mt marked a slim rise of 0.5% from the same month a year ago. This year-on-year increase of 0.5% was drastically slower than year-on-year growth rates of between 8% and 15.8% recorded between January and May 2011, and June’s oil demand at 9.01 million b/d was just marginally higher than the previous low of 8.95 million b/d in October 2010.

“June’s oil demand growth was the lowest in over two years as a number of Chinese refineries decided to shut their plants for repairs and maintenance last month because of lofty global crude oil prices, and output declined after an easing in a recent domestic diesel supply crunch,” said Calvin Lee, senior writer, China, for Platts, a leading global energy, petrochemicals and metals information provider.

A recent study by Deutsche Bank showed that turnarounds peak in June-July and are roughly 465,000 b/d heavier year-on-year.

In June, Chinese refineries processed 35.56 million mt of crude oil, or an average of 8.69 million b/d, the lowest daily processing volume in nine months. In September 2010, the country had processed 34.91 million mt of crude oil, or an average of 8.53 million b/d.

Net product imports were 1.36 million mt, or an average of 0.32 million b/d. This is up from 930,000 mt in May as Chinese companies reduced exports to build domestic inventories.

Analysts said that hefty diesel imports have not materialized as initially anticipated, despite reports of severe power shortages. They note that China, so far, has been able to replenish diesel inventories with domestic capacity and by curbing exports.

Recent government data also suggests that domestic oil consumption has softened somewhat and that the diesel supply crunch has dissipated in recent weeks, boosting inventories.

Figures released on July 18 by the country’s economic planning agency, the National Development and Reform Commission (NDRC), showed that China’s apparent consumption of gasoline, gasoil and jet fuel in June softened by 1.2% from May to 19.94 million mt. This is the third consecutive month that oil demand has fallen, after reaching a peak in March.

Inventories for refined products at the end of June grew by nearly one million mt from the same period a year ago, which was a “normal level,” the NDRC said, though it did not provide the total stock figures.

Still, analysts are expecting Chinese oil demand to rebound for the rest of 2011, especially in the fourth quarter.

“With the peak summer refinery turnaround period ending in August, crude runs will likely soon recover. Also, if history of the past two years is any indication, China’s oil consumption could ramp up in the fourth quarter,” said Lee.

MONTHLY TRADE DATA IN MILLION METRIC TONS:

*Platts calculates China’s apparent or implied oil demand on the basis of crude throughput volumes at the domestic refineries and net oil product imports, as reported by the National Bureau of Statistics and Chinese customs.

The government releases data on imports, exports, domestic crude production and refinery throughput data, but does not give official data on the country’s actual oil consumption figure and oil stockpiles. Official statistics on oil storage are released intermittently.

Platts releases its monthly calculation of China’s apparent demand between the 18th and 26th of every month via press release and via its website. Any use of this information must be appropriately attributed to Platts.

For more information on crude oil, visit the Platts website at www.platts.com. For Chinese-language information on oil and the energy and metals markets, visit http://www.platts.cn/.

About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals and metals information and a premier source of benchmark prices for the physical and futures markets. Platts’ news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts’ coverage of the carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, and shipping markets.  A division of The McGraw-Hill Companies (NYSE: MHP), Platts is headquartered in New York with more than 700 employees in more than a dozen offices worldwide. Additional information is available at http://www.platts.com .

About The McGraw-Hill Companies: Founded in 1888, The McGraw-Hill Companies is a leading global financial information and education company that helps professionals and students succeed in the Knowledge Economy. With leading brands including Standard & Poor’s, McGraw-Hill Education, Platts energy information services and J.D. Power and Associates, the Corporation has approximately 21,000 employees with more than 280 offices in 40 countries. Sales in 2010 were $6.2 billion. Additional information is available at http://www.mcgraw-hill.com.

SOURCE Platts

According to the Company’s preliminary statistics, as of 30 June 2011, the Company’s total power generation within China on consolidated basis amounted to 152.404 billion kWh, representing an increase of 28.25% over the same period last year. Accumulated electricity sold amounted to 143.718 billion kWh, representing an increase of 28.30% over the same period last year.

The increase in power generation of the Company was mainly attributable to the following reasons:

1. Grasping the growth trend of the national economy in 2011 and the favourable conditions for substantial increase in the national electricity demand, the Company had expanded various marketing channels and increased power generation; and
2. Various new generating units of the so Company had commenced operation since the second half year of 2010 and the completion of the acquisition of Diandong Energy Company and Zhanhua Co-generation by the Company, thereby increasing the market share.

The power generation and electricity sold by each of the Company’s domestic power plants for the first half year of 2011 are listed below (in billion kWh):

The accumulated power generation of Tuas Power Limited in Singapore for the first half year of 2011 accounted for a market share of 26.7% in Singapore, representing an increase of 2.2 percentage points as compared to 24.5% of the same period last year.

About the Company

The Company is one of China’s largest listed power producers with controlled generation capacity of 54,402 MW and equity-based generation capacity of 50,935MW. The power plants of the Company are located in 18 provinces, municipalities and autonomous regions in China. The Company also has a wholly-owned power company in Singapore.

For enquiries, please contact:

SOURCE Huaneng Power International, Inc.

“From 2010 to 2015, China is expected to invest 3,100 billion RMB (US $475 billion) in pollution prevention and treatment,” said ThermoEnergy CEO, Cary Bullock. “That’s 1.5% of China’s GDP, and a 15% annual growth rate of the Chinese environmental industry. Currently, nearly 20% of the length of China’s monitored rivers and lakes have pollution problems that the Chinese government is attempting to address. We believe ThermoEnergy’s CAST® technology offers some of the world’s most advanced solutions for clean, sustainable wastewater, process chemistry, and nutrient recovery, and we expect to be a top competitor in China’s burgeoning wastewater treatment industry.”

The China International Environmental Protection Exhibition & Conference (CIEPEC), sponsored by the Ministry of Environmental Protection, P.R.C. (MEP) and organized by the China Association of Environmental Protection Industry (CAEPI), has emerged as the most prestigious environmental show in China as well as a world-famous event for environmental technologies, products and services. ThermoEnergy will exhibit at booth number 2118 in the U.S. Pavilion.

About ThermoEnergy

Founded in 1988, ThermoEnergy, is a diversified technologies company engaged in the worldwide commercialization of patented and/or proprietary municipal and industrial wastewater treatment and power generation technologies.  Additional information on the Company and its technologies can be found on its website at www.thermoenergy.com.

THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE “FORWARD LOOKING” STATEMENTS, USUALLY CONTAINING THE WORDS “ESTIMATE”, “PROJECT”, “EXPECT” OR SIMILAR EXPRESSIONS. FORWARD LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM CURRENT EXPECTATIONS. BY MAKING THESE FORWARD LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES.

Media Relations Contact
Marc Bane: 978-443-2378
mbane@banemarketing.com

Investor Relations Contact
Thomas Walsh: 212-398-3486
twalsh@allianceadvisors.net

SOURCE ThermoEnergy Corporation

Mr. Liu Donghua, Co-Chairman of the Expert Committee of China’s Top 100 Green Companies, and the founder and Deputy Vice Chairman of China Entrepreneur Club (CEC) attended the award ceremony. Mr. Liu pointed out that “the human society is making new demands on businesses, and companies face pressure from unprecedented changes. This new demand has highlighted the necessity of enterprises to not only seek profits in conformity with the law, but also to protect the environment and stakeholders, so as to integrate the economic profits of an enterprise with social and ecological benefits.”

Mr. Cai Jian, Executive Dean of Peking University Innovation Education and Research Institute (PIER) and member of the Expert Committee of China’s Top 100 Green Companies, also shared his views on the background, social significance, and the public credibility and specificity of “China’s Top 100 Green Companies.” He believes that “the selection of China’s Top 100 Green Companies encourages us to seriously reflect on the growth model of the Chinese economy. As the main innovative body to promote sustainable development, enterprises must abolish the business model that conquers nature, and adopt a new model that uses business capabilities to create a green harmony between human and nature.”

Representatives from the 2011 China’s Top 100 Green Companies also made remarks at the award ceremony.

Winners for this year’s China’s Top 100 Green Companies were first screened from China Enterprises 500, China Private Enterprises 500 and Fortune 500. Information was collected, disputable events investigated and quantitative information rated in accordance with the “Assessment Standards for China’s Top 100 Green Companies.” The winner’s list was then finalized by the Expert Assessment Committee. This year’s winners include 50 private enterprises, 20 state-holding enterprises and 30 foreign enterprises.

According to Mr. Zhang Kaiwen, who is in charge of the China’s Top 100 Green Companies project, “Green Value” was at the center of standards and policies in this year’s selection process. Mr. Wan Shi, Chairman of the Board of Directors of China Vanke Co., Ltd., has put it at an interview not long ago that “As one of the China’s Top 100 Green Companies, Vanke regards highly of this honor, but is also under a lot of pressure. What distinguishes China’s Top 100 Green Companies from other honors of its kind is the inclusion of moral value standards in its evaluations. In this sense, companies must perform better. And hence, from a certain perspective, the competition is fiercer.”

“Green Innovation” is another index that makes the list different from other ratings of its kind, both domestically and internationally. China’s Top 100 Green Companies aims at discovering enterprises that promote green development through the introduction of technology, products, models, organizations and market innovation, with the support from entrepreneurs under the premise of safeguarding business morals and abiding by the principle of sustainable development. Sustainable development is intertwined with innovation, and innovation is the only solution to meet the goals of green companies.

For assessment, the project team for China’s Top 100 Green Companies studied the rating systems for green companies used domestically and internationally. The team also disclosed and controlled for “management and its transparency, quality of information collected, research process and results manifestation.” The project team introduced the “Internal Quantitative Comparison Rating System for Green Indexes” for the first time in China. It also used “Industry-targeted Indexes” as the main targets for comparison to enhance specificity and credibility. (For more detailed informa tion, please see the “ China ‘ s Top 100 Green Companies Report “)

It is noteworthy that the project team for China’s Top 100 Green Companies continuously followed and monitored the disputable events in the companies that were awarded this prize in 2010. Legal, economical, social and environmental issues were looked at, in particular issues involving business credibility, trade credibility, economical damage, cooperate management, consumer relations, employees’ rights and interests, supply chain management, public philanthropy, environmental pollution and resource waste. Through information collection, verification and analyses of disputable events and the scrutiny by the Expert Assessment Committee from China’s Top 100 Green Companies, 22 enterprises from the 2010 China’s Top 100 Green Companies including Alibaba, Wall-Mart, Tencent and Petro China were disqualified for selection this year due to “loss of values”, “viscous competition”, “viscous environmental issues”, “differences between words and deeds”, “inadequate information disclosure”, “deviation from the industry” and “inconsistent strategies towards China and abroad”. These companies were regarded as setting “regretful examples” for other enterprises.

This decision is in accord with the development vision of China’s Top 100 Green Companies. The project hopes to utilize business logic to set up a positive, social and environmental “Green Camp.” This camp shall consist of new types of enterprises that can create and grasp business opportunities and realize sustainable development while operating in harmony with the social and environmental ecosystems.

In order to do so, the project team shall elevate the selection standards for “China’s Top 100 Green Companies” on an annual basis. The preciseness for “economical, social, environmental, innovational and transparency” indexes shall be raised and perfected. Furthermore, the degree of control for “disputable events” will also be upgraded. Enterprises on the list shall continuously be reminded to improve on their performances, as there will be opportunities for latecomers to join in the queue of “China’s Top 100 Green Companies.”

We believe that the “Green Camp” with “China’s Top 100 Green Companies” as the focus shall form a wider union with the government, NGOs, media and investment institutions to promote for a greener Chinese society and greener enterprises.

A Brief History on “ China ‘ s Top 100 Green Companies “ :

The selection of China Green Companies was initiated by China Entrepreneur Club (CEC) in May of 2007. On the first two Annual Summits, 20 exemplary green companies were selected from Chinese companies and foreign enterprises. Champion enterprises operating within the Chinese border with outstanding green performances were selected to be on the list. In 2010, based on the foundation laid by two previous Annual Summits, CEC decided to expand the selection scope and launch a selection project for “China’s Top 100 Green Companies”. “China’s Top 100 Green Companies” is unveiled at the Annual Summit of Green Companies annually.

SOURCE China Entrepreneur Club

In August 2010, the Company announced that Henan Pingdingshan Hongli Coal & Coking Co., Ltd. (“Hongli”), which the Company controls through contractual arrangements, entered into agreements to acquire 60% of Shuangrui and Xingsheng. The issuance of the new business licenses on May 20, 2011, signifies the registration with the local State Administration of Industry and Commerce (“SAIC”) of the transfer of 60% of the equity interests of these two companies to Hongli. Also on May 20, 2011, the local SAIC issued a new business license for Shunli in connection with the registration of the transfer of 100% of the equity interest of Shunli to Baofeng Hongchang Coal, Ltd. (“Hongchang”), a wholly-owned subsidiary of Hongli.

The issuance of these new business licenses is a step toward completing these acquisitions. The Company will next transfer the equity interests that it controls in these three companies to Henan Hongyuan Coal Seam Gas Engineering Technology Co., Ltd. (“Hongyuan CSG”), SinoCoking’s joint-venture with the state-owned conglomerate Henan Province Coal Seam Gas Development and Utilization Co., Ltd (“Henan Coal Seam Gas”). Currently, all three companies are subject to the provincial-wide mining moratorium in effect since late 2009. However, once transfers of equity interests to Hongyuan CSG are completed, these companies will obtain new mining licenses and be able to resume operations.

Going forward, mining safety, production, and technology of the three mines will be handled by Henan Coal Seam Gas.  In anticipation of the transfer of equity interests to Hongyuan CSG, Henan Coal Seam Gas deployed its mining engineers, safety experts and other professionals to the coal mines of Shungrui, Xingsheng and Shunli on May 19, 2011, to begin preparation work for the resumption of production, including safety upgrades.

Management currently expects that the three mines can officially resume production at full capacity before the end of the 2011 calendar year. Once the construction of the new coking facility is completed, coal extracted from these mines will largely be used to produce coke and other coke by-products.

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 currently has mining rights and capacity to extract 300,000 metric tons of coal per year from its own mines located in the Henan Province in central China. 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 and Henan Hongyuan Coal Seam Gas Engineering Technology 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.

SOURCE SinoCoking Coal and Coke Chemical Industries, Inc.

While oil demand in March eased from February’s peak of 9.58 million b/d, it is still considered fairly robust, given that the country’s oil demand has stayed above 9 million b/d for five consecutive months.

With apparent oil demand at 9.19 million b/d in January and 9.58 million b/d in February, China’s Q1 oil demand averaged 9.32 million b/d. It appears that surging international crude prices have failed thus far to make a dent in the nation’s consumption.

“Oil demand in the first quarter was buoyed by diesel consumption due to rising industrial production and increased agricultural demand with the onset of the spring planting season,” said Calvin Lee, Platts senior writer, China.

According to data released this week by the country’s top economic planning agency, the National Development and Reform Commission (NDRC), China’s apparent demand for petroleum products reached a new monthly high of 21.73 million mt during March. This is up 11.7% from the same period a year ago and some 13.9% more than February.

The NDRC did not provide the figure for the previous record high.

In the first three months of this year, consumption of oil products reached 58.39 million mt, a 10.2% increase from the same quarter a year ago.  Of the total, gasoline demand rose 5.6% year over year and diesel demand grew 10.6%, according to the NDRC report.

In March, China’s refiners processed a combined 37.66 million mt of crude oil, or an average of 8.9 million b/d, 9% more than the crude throughput in March 2010, figures released earlier by the National Bureau of Statistics showed.

“Sources tell Platts that Chinese state oil majors have had to increase production of petroleum products in recent weeks, probably by directive of the central government, to fill a big gap in supply resulting from drastic cutbacks by private refiners in East China, where operations have been cut to as low as 30% of capacity due to dismal margins,” Lee said.

At the same time, petroleum imports continued to expand in March as Chinese oil companies purchased more cargoes from the international markets to maintain ample supply of fuels to local industries.

Last month, the volume of oil product imports jumped 20.5% year over year to 3.88 million mt, the highest since December’s 3.96 million mt. Exports fell 2.3% to 2.58 million mt.

Net product imports, at 1.3 million mt for March, were up 124% from a year ago, but down 9.7% from February when net imports were 1.44 million mt.

March product exports were 2.58 million mt, the highest in eight months, as Chinese state companies sought to increase exports products to make up for the loss in domestic refining margins.

*Platts calculates China’s apparent or implied oil demand on the basis of crude throughput volumes at the domestic refineries and net oil product imports, as reported by the National Bureau of Statistics and Chinese customs.

The government releases data on imports, exports, domestic crude production and refinery throughput data, but does not give official data on the country’s actual oil consumption figure and oil stockpiles. Official statistics on oil storage are released intermittently.

Platts releases its monthly calculation of China’s apparent demand between the 18th and 26th of every month via press release and via its website. Any use of this information must be appropriately attributed to Platts.

For more information on crude oil, visit the Platts website at www.platts.com. For Chinese-language information on oil and the energy and metals markets, visit http://www.platts.cn/.

About Platts: Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy, petrochemicals and metals information. With a century of business experience, Platts serves customers across more than 150 countries. An independent provider, Platts serves the oil, natural gas, electricity, emissions, nuclear power, coal, petrochemical, shipping, and metals markets from 17 offices worldwide. Platts’ real-time news, pricing, analytical services and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better business decisions. Additional information is available at http://www.platts.com.

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SOURCE Platts