ZHEJIANG, China, Nov. 21 /Xinhua-PRNewswire/ -- SORL Auto Parts, Inc.
(Nasdaq: SORL), a leading manufacturer and distributor of commercial vehicle
air brake valves as well as other auto parts in China, today announced that
the NASDAQ Stock Market has approved the transfer of the Company’s Common
Stock listing from the NASDAQ Capital Market to the NASDAQ Global Market.
The Company’s common stock will commence trading on the NASDAQ Global Market
at market open on November 21, 2006. The Company’s trading symbol, "SORL"
will not be affected by the transfer to the Global Market.
SORL Auto Parts’ Chairman and CEO, Mr. Xiaoping Zhang, stated, "Our
improved NASDAQ listing is in line with our objectives to continue to improve
our fiscal performance while increasing our visibility as an industry leader
in China. This significant upgrade in our listing, in light of having only
been a NASDAQ-listed company since April of this year, is an accomplishment
of which we are very proud."
About SORL Auto Parts, Inc.
As China’s leading manufacturer and distributor of automotive air brake
valves, SORL Auto Parts, Inc. ranks first in market share in the segment for
commercial vehicles weighing more than three tons, such as trucks and buses.
The Company distributes products both within China and internationally under
the SORL trademark. SORL ranks among the top 100 auto component suppliers in
China, with a product range that includes 40 types of air brake valves and
over 800 different specifications. The Company has three authorized
international sales centers in Australia, United Arab Emirates, and the
United States, with additional offices slated to open in other locations in
the near future. For more information, please visit http://www.sorl.cn .
Safe Harbor Statement
Statements made in this press release that are not historical fact
are "forward-looking statements," which are based on current expectations
that include a number of risks and uncertainties. Additional factors that
could potentially affect the Company’s financial results may be found on the
Company’s filings with the Securities and Exchange Commission (
http://www.sec.gov ).