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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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AMENDMENT NO. 1 TO
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): December 8, 2004
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CHINA ENERGY SAVINGS TECHNOLOGY, INC.
(Exact name of registrant as specified in Charter)
NEVADA 000-31047 86-0995730
(State or other jurisdiction of (Commission File No.) (IRS Employee
incorporation or organization) Identification No.)
Central Plaza
18 Harbour Road
Suite 3203A
32nd Floor
Hong Kong
China
(Address of Principal Executive Offices)
852-2588-1228
(Issuer Telephone Number)
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ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS.
(A) RESIGNATION OF DIRECTORS
Effective December 8, 2004, Mr. Yiu Chong Leung and Ms. Yan Hong Zhao
resigned as members of the board of directors of the Registrant. Mr. Leung and
Ms. Zhao resigned after it was disclosed that they would not qualify to serve as
independent members of the Board of Directors of the Registrant and as a result
would not be able to serve as audit committee members. Mr. Leung and Ms. Zhao
were appointed as directors and audit committee members of the Registrant on
November 29, 2004. There were no disagreements between Mr. Leung or Ms. Zhao
with any officer or director of the Registrant. The Board discovered that Mr.
Leung and Ms. Zhao were ineligible to serve as independent board members and
audit committee members after additional interviews and investigation by the
officers and board of directors of the Registrant. The Registrant has provided a
copy of the disclosures it is making in response to this Item 5.02 and requested
Mr. Leung and Ms. Zhao to furnish the Registrant as promptly as possible with a
letter stating whether Mr. Leung and Ms. Zhao agrees or disagrees with the
disclosures made in response to this Item 5.02. The Registrant has received
letters from Mr. Leung and Ms. Zhao in response to disclosures made herein and
has filed such letters as an exhibit to this amendment to the Registrant's
current report on Form 8-K filed on December 14, 2004.
(C) APPOINTMENT OF DIRECTOR
Effective December 8, 2004, Mr. Tan Shao-Guang was appointed as an
independent director of the board of directors of the Registrant. Mr. Tan
Shao-Guang, Mr. Yau Wing-Sze and Mr. Dennis Yu Won Kong will make up the
Registrant's audit committee.
TAN SHAO-GUANG. Age 43, is a qualified accountant in China. He holds a
bachelors degree in foreign trade and economic management. Currently he is the
deputy general manager and chief financial officer of Jia Sheng International
Consultant (HK) Co., Limited. Prior to this position, and since 1999, he was the
general manager and financial controller of Xinhui Auction Limited in Jiangmen
City, Guangdong Province. Mr. Tan has over 20 years experience in banking and
financial management and has worked with the Guangdong Development Bank.
No transactions occurred in the last two years to which the Company was a
party in which the above director had or is to have a direct or indirect
material interest.
Item 9.01 Exhibits
99.1 Letter from Mr. Leung
99.2 Letter from Ms. Zhao
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: December 16, 2004 CHINA ENERGY SAVINGS TECHNOLOGY, INC.
By: /s/ Sun Li
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Sun Li
Its: Chief Executive Officer