NEW YORK and CHANGSHA, China, Aug. 15 /Xinhua-PRNewswire-FirstCall/ -- Hunan Tongxin International Ltd. ("Tongxin") ("Company") (Nasdaq: TXIC) a manufacturer of commercial-truck bodies, SUV passenger vehicle bodies and stamped body parts, today announced second quarter financial results will be filed on or before September 15th, 2008.
As a foreign private issuer, the SEC requires the Company to file its annual report within six months after the end of its fiscal year and after its first full year as a public company, to file mid-year financial results within 60 days from the end of the second quarter. For the reporting year 2008, Tongxin is only required to file its annual report, Form 20-F, on or before June 30th, 2009.
For full disclosure purposes and to keep the public informed, the Company plans to report its financial results each quarter in addition to its required annual report. In May 2008, the Company reported its first quarter financial results and filed a corresponding 6-K. The Company plans to report second quarter financial results on or before September 15th, 2008. A 6-K will be filed and will be accompanied by a press release and a scheduled earnings conference call. Details of the call will be provided at a later date. Furthermore, financial results for the third quarter and full year will occur on or before November 15th, 2008 and March 31st, 2009, respectively.
"As a NASDAQ-listed company, the investment community expects this level of disclosure to make informed investing decisions on our Company," commented William Zielke, interim CFO for Tongxin. "We intend to meet this self-imposed standard on a go-forward basis," Zielke concluded.
About Tongxin International Ltd.
Tongxin International Ltd., is the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments, in addition to designing, fabricating and testing dies used in the manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders.
Forward-looking Statements
Statements contained in this press release, which are not historical fact, including the anticipated date of listing of the Class A Common Stock on the NASDAQ Global Market, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Tongxin International’s most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company’s ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Investor Relations Contact:
John Mattio
SVP, HC International, Inc.
Tel: +1-914-669-5340
Email: john.mattio@hcinternational.net
