6.7.2007: Meldung: Suntech Successfully Meets Requirements of Sarbanes-Oxley Section 404
""This successful completion of the SOX 404 audit represents a strong indication of our long-standing commitment to the highest standards of corporate governance,"" said Dr. Zhengrong Shi, Suntech"s Chairman and CEO. ""The internal control systems established as part of this have also enabled us to achieve significant growth in production and sales.""
Section 404 of SOX requires that companies listed on U.S. stock exchanges file an internal control report within the annual report that states management"s responsibility for internal controls of financial reporting, and includes an assessment of the effectiveness of the controls and an external audit of the reliability of the internal control structure and procedures. Compliance with SOX Section 404 is a testament to the veracity and transparency of all financial information that a company discloses.
""Suntech is proud to have achieved official approval of our internal financial controls and processes. Our extensive efforts to comply with SOX 404 as a public company demonstrate our dedication to corporate transparency,"" said Amy Zhang, Suntech"s CFO. ""The rigor of SOX compliance has also been an excellent opportunity to improve our business processes and increase back- office efficiency.""
Suntech Power Holdings Co., Ltd. is a leading solar energy company in the world as measured by both production output and capacity of solar cells and modules. Suntech provides solar solutions for a green future. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly PV cells and modules for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech"s majority-owned subsidiary, MSK Corporation is one of the top-ranked companies in the building-integrated photovoltaics (BIPV) space. Suntech"s customers are located in various markets worldwide, including key markets throughout Europe, North America, Japan and China. For more information, please visit http://www.suntech-power.com .
For more information, please contact:
In the United States:
Sanjay M. Hurry
The Piacente Group, Inc.
Ogilvy Public Relations Worldwide
Source: Suntech Power Holdings Co., Ltd.