Certified Public Accounting Firm

MaloneBailey, LLP Hosts Sinopec Delegation

Contact: Caroline Rosen

Houston, TX, August 1, 2012 – On Friday, July 27, 2012, MaloneBailey, LLP, a global, mid-market, public accounting firm based in Houston, Texas hosted a twenty person delegation from Sinopec Group (“Sinopec”), the largest of China’s national oil companies and ranked 5th of the Global Fortune 500 in 2011. The purpose of the delegation’s visit to Houston was to learn more about the financial and accounting side of the petrochemical industry. MaloneBailey, LLP was invited by the Houston Mayor’s Office to serve as the official accounting firm partner for the delegation’s visit to Houston.

Members of the delegation consisted of mid to high level finance directors from Sinopec’s corporate offices and several of their subsidiaries. The delegation’s one-day visit to MaloneBailey included a seminar given by Audit Partner George Qin on key indexing systems of cost accounting and evaluation methodology that are employed in the financial management and advising of the petrochemical industry.

“As a market leader serving Chinese companies, we are in a position to share our knowledge and experience as it pertains to intricate and complex accounting topics and issues, especially as it relates to the oil & gas and petrochemical industries,” said George Qin, CPA, CMA, MBA, Audit Partner at MaloneBailey. Qin added, “we’d like to thank The Houston Mayor’s Office for allowing MaloneBailey the honor of hosting members of the Sinopec delegation and applaud them for their efforts to develop a long-term strategic partnership with the company.”

MaloneBailey specializes in audits of public companies trading on United States stock exchanges. The firm assists Chinese companies and entrepreneurs in the process of going public in the United States. MaloneBailey, a market leader in serving SEC clients in China, has more than 15 SEC reporting clients in China.

Qin, a native of China and bilingual in both English and Mandarin, holds a CPA, CMA, and MBA. Qin leads MaloneBailey’s SEC Audit Practice in China. He earned his Bachelor of Science degree from Tianjin University in Tianjin, China and his Master of Business Administration degree from Stephen F. Austin State University in Nacogdoches, Texas. He is a member of the American Institute of Certified Public Accountants and the Institute of Management Accountants.

About MaloneBailey, LLP

MaloneBailey, LLP, based in Houston and with offices in New York, Shenzhen and Beijing, is focused on the delivery of audit and tax services to small and middle market companies, both public and private. The firm is a market leader in the delivery of SEC audit services to small and mid-cap publicly traded clients, with over 100 registrants, the largest number of SEC clients audited by a non-national firm. For more information about MaloneBailey, visit www.malonebailey.com.

About Sinopec Group

Per the Sinopec website (www.sinopecgroup.com), China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical enterprise group established in July 1998 on the basis of the former China Petrochemical Corporation. Sinopec Group is a state-owned company solely invested by the State, functioning as a state-authorized investment organization in which the state holds the controlling share. Headquartered in Beijing, Sinopec Group has a registered capital of RMB 182 billion.