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China GengSheng Appoints Ningfang Liang Chief Financial Officer

Stocks in this article: CHGS

GONGYI, China, July 7, 2011 /PRNewswire-Asia-FirstCall/ -- China GengSheng Minerals, Inc. (AMEX:CHGS), a leading China-based high-tech industrial materials manufacturer producing heat resistant, energy efficient materials for a variety of industrial applications, today announced that Mr. Ningfang Liang has joined the company as Chief Financial Officer, effective immediately. Mr. Liang replaces Interim Chief Financial Officer, Mr. Hongfeng Jin, who has been appointed GengSheng's Financial Controller, effective immediately.

Mr. Liang has over 15 years of finance and accounting experience, including over six years at U.S. public companies, where he managed SEC reporting, internal control, GAAP compliance, as well as internal auditing, financial analysis and management reporting activities.

"We are delighted to have a seasoned financial professional such as Ningfang join our executive team, and believe that his vast experience in SEC reporting, GAAP regulations and the U.S. capital markets will prove invaluable as we continue to execute on our growth strategy and work toward the next level of success," said Mr. Shunqing Zhang, Chairman and CEO of China GengSheng Minerals. "On behalf of the entire GengSheng team, I would like to welcome Ningfang to the company and thank Hongfeng for his numerous contributions to our business during his tenure as Interim CFO. I am grateful that Hongfeng has elected to remain with the company and confident that he will thrive in his new role as Financial Controller. I believe that Ningfang and Hongfeng will be a dynamic team that will significantly bolster the capabilities of our finance department and the strength of our financial controls."

Prior to joining GengSheng, Mr. Liang worked as Finance Manager at White Mountains Re Ltd, the reinsurance subsidiary of White Mountains Insurance Group, Ltd. Additionally, he has held senior finance and accounting positions at American International Group, Inc., Celgene Corporation and China Construction Bank.

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