Merger with Established China-based Consulting Firm Significantly Expands Service Offering for Chinese and Multinational Clients

Marcum Bernstein & Pinchuk LLP ("MarcumBP"), a top-ranked provider of SEC audit, accounting and consulting services to Chinese companies listed in the U.S. capital markets, today announced that it has joined with an established Chinese consulting firm to form a new entity that will significantly expand the Firm's advisory capabilities for both Chinese and multinational clients.

Based in Beijing, MarcumBP China Consulting provides a range of consulting solutions tailored to Chinese companies and to multinational companies with operations in China.

The merger brings 60 professionals to MarcumBP China Consulting many of whom helped develop the consulting practices of "Big Four" accounting firms in China. The group has worked with a number of China's most ambitious and forward-looking enterprises, including China Gold, SPIC (State Power Investment Corporation), China Datang Power Group, Baosteel, Chemchina, and many local power, pharmaceutical and  insurance companies. MarcumBP China Consulting's senior professionals bring deep industry expertise in dynamic sectors of China's economy such as aerospace, chemicals, energy, manufacturing, mining, pharmaceuticals, power generation, and technology.

"This transaction significantly strengthens the value MarcumBP offers to both Chinese companies with global aspirations and international companies doing business in China. We can now provide consulting services to public companies listed on the Hong Kong Stock Exchange (HKSE) and domestic Chinese markets to help them to align with global best practices for internal controls, human capital management, and IT governance," said Drew Bernstein, Co-Managing Partner of MarcumBP. "We are tremendously pleased with the quality of the team that is joining us and the impressive roster of clients they have served."

MarcumBP China Consulting offers critical advisory services that support international expansion and capital-raising, and promote organizational performance, including:

• Risk Management & Internal Controls ‚Äì Achieve organizational excellence and sustainability through enterprise risk management, risk assessment and risk monitoring. Build strong internal controls including China Sarbanes Oxley compliance, internal controls for Hong Kong listings (PN-21), and IT control evaluation and improvement. Strengthen the internal audit function with audit plan development, third-party contractual compliance, and IT audit and support.
• Organizational & Human Capital Transformation ‚Äì Design financial strategy and organizational structure to support growth including financial expense analysis, budget management, and treasury management. Optimize organizational design and performance through compensation and benefit management, career path design, and long-term and stock-based incentive plans.
• IT Control Services ‚Äì Effective management of IT resources through IT strategic planning, systems requirement analysis, IT security review, and governance, risk and compliance systems.
• M & A Advisory ‚Äì Develop an effective market entry strategy including the assessment of targets, business plan, feasibility and return on investment projects. Perform comprehensive due diligence of financial statements, tax, internal controls, management assessments, and asset verification. Support post-deal integration covering financial reporting systems, HR management, and IT systems.
• Risk Management & Compliance for Financial Institutions ‚Äì Specialized risk management services including Basel III, anti-money laundering, and China risk oriented solvency system (C-Ross) for insurance industry.

"MarcumBP is one of the very few accounting and advisory firms to successfully combine deep knowledge of Chinese business practices with the highest standards of professionalism and technical expertise. MarcumBP's rapid growth, reputation for thought leadership, and shared culture of innovation and service makes this an excellent fit," said Harley Dou, CEO of MarcumBP China Consulting. "By joining with MarcumBP, we will be able to offer our China-based clients deep resources in the U.S. and other international markets, while sustaining the rapid growth we have enjoyed since our founding in 2009."

Mr. Dou brings extensive experience in risk management and financial advisory services to MarcumBP China Consulting, including many years of service with Big Four accounting and other leading advisory firms in China. He is joined by Rock Lu, serving as managing partner. Mr. Lu also has top-tier consulting experience in China, with a strong focus on human resources and management consulting.