NF ENERGY SAVING CORPORATION (NASDAQ:NFEC) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 4.01 — Changes in Registrant’s Certifying Accountant
On December 24, 2018, NF Energy Saving Corporation (the “Company”) was notified that HKCM CPA & Co.(Predecessor firm: HKCMCPA Company Limited) (“HKCMCPA”) has resigned as the Company’s principal independent accountant.
HKCMCPA reported on the Company’s financial statements for the fiscal years ended December 31, 2016 and December 31, 2017. During the Company’s two most recent fiscal years, and subsequently up to the date of resignation, there were no disagreements between the Company and HKCMCPA on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements that, if not resolved to HKCMCPA’s satisfaction, would have caused HKCMCPA to make reference to the subject matter of the disagreement in connection with its report issued in connection with the audit of the Company’s financial statements.
None of the reportable events described under Item 304(a)(1)(v)(A)-(D) of Regulation S-K occurred within the Company’s last two fiscal years nor subsequently up to the date of dismissal.
HKCMCPA’s audit report on the Company’s financial statements for the fiscal year ended December 31, 2017 contained no adverse opinion or disclaimer of opinion and HKCMCPA’s audit report on the Company’s financial statements for the fiscal year ended December 31, 2016 contained no adverse opinion or disclaimer of opinion.
The Company provided HKCMCPA with a copy of this disclosure before its filing with the Securities and Exchange Commission (the “SEC”), providing HKCMCPA with the opportunity to furnish the Company with a letter addressed to the SEC stating whether it agrees with the disclosures made in the filing. A letter from HKCMCPA is attached as Exhibit 16.1 to this filing.
On December 26, 2018, NF Energy’s board of directors ratified Centurion ZD CPA & Co (“CZD”)as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2018. During each of the Company’s two most recent fiscal years and through the date of this report, neither the Company nor anyone on its behalf consulted with CZD regarding (i) the application of accounting principles to a specified transaction, either completed or proposed, (ii) the type of audit opinion that might be rendered on the Company’s financial statements by CZD, in either case where written or oral advice provided by CZD would be an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issues or (iii) any matter that was either the subject of a disagreement or a reportable event (as described in Item 304(a)(1)(iv) or Item 304(a)(1)(v) of Regulation S-K, respectively).
Item 4.01 — Financial Statements and Exhibits
(d) Exhibits
16.1 Letter from HKCMCPA Company Limited
NF Energy Saving Corp Exhibit
EX-16.1 2 tv509951_ex16-1.htm EXHIBIT 16.1 Exhibit 16.1 HKCMCPA HKCM CPA & Co Certified Public Accountant December 27,…
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About NF ENERGY SAVING CORPORATION (NASDAQ:NFEC)
NF Energy Saving Corporation is a provider of energy services. The Company’s principal business is the production and sales of energy-saving flow control equipment, and intelligent flow control equipment. The Company operates through two segments: Heavy manufacturing business and Energy-saving related business. The Heavy manufacturing business segment includes production of valves components and the provision of valve improvement and engineering services. The Energy-saving related business segment includes provision of energy-saving related re-engineering and technical services, and long-term construction project. It provides equipment related to desulfurization, denitration and dust removal for electric power generation, metallurgy, petrochemical, steel, cement and heating supply industries, and provides consulting services, such as energy efficiency optimization design, energy consuming equipment retrofit and engineering, equipment maintenance and services, and energy management.
