SinoCoking Coal and Coke Chemical Industries to Change Company Name to Clean Synthetic Technologies

PINGDINGSHAN, CHINA--(Marketwired - Jul 14, 2014) - SinoCoking Coal and Coke Chemical Industries, Inc. (NASDAQ: SCOK) ("the Company" or "SinoCoking"), a vertically-integrated coal and coke processor, today said that, subject to shareholder approval and satisfaction of applicable laws, it intends to change its name to Clean Synthetic Technologies Corp. The name reflects the Company's new emphasis on the large-scale production of clean-burning synthetic gas and other clean energy products. Concurrent with the name change, the Company expects to change its stock trading symbol on Nasdaq. 

SinoCoking is currently in construction on a green facility for the conversion of carbon dioxide into synthetic gas (syngas), a fuel utilized to produce clean energy and a wide range of fertilizers, solvents and other industrial products. This facility, which is scheduled to begin operations in the fourth quarter, will produce as much as 25,000 cubic meters of syngas per hour, among the highest outputs in China.

"Clean Synthetic Technologies is more than just a new name. It is a new identity," said Chairman and CEO, Mr. Jianhua Lv.

"Going forward, we have two primary objectives. First, we will strive to become one of China's leading producers of clean energy products -- products capable of generating new streams of high-margin revenue for our Company and allowing it to grow and prosper as never before.

"Second, and no less important, we are determined to help our nation alleviate the pressing air pollution and global warming problems we face. As President Xi has stated, the time has come for China to begin replacing coal with a cleaner energy source. The clean-burning syngas we will soon be producing at our new facility has the potential to do exactly that. The result, we believe, will be a healthier environment for our citizens and their children for decades to come."

Mr. Lv said the Company will shortly issue an update on construction progress at the new facility.

About SinoCoking Coal and Coke Chemical Industries, Inc.

SinoCoking Coal and Coke Chemical Industries, Inc. (www.scokchina.com), 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 has been producing metallurgical coke since 2002, and acts as a key supplier to regional steel producers in central China. The company 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, Henan Hongyuan Coal Seam Gas Engineering Technology Co., Ltd., Baofeng Shuangri Coal Mining Co., Ltd., and Baofeng Xingsheng Coal Mining Co., Ltd.