NANJING, China, July 10 /Xinhua-PRNewswire-FirstCall/ -- Ever-Glory International Group, Inc. (OTC Bulletin Board: EVGY) (“Ever-Glory”, the “Company”), a leading apparel manufacturer in the People’s Republic of China (“PRC”), today announced that its common shares have been approved for listing on the American Stock Exchange (AMEX). This approval is contingent upon the Company being in compliance with all applicable listing standards on the date its shares begin trading on the Exchange, and may be rescinded if the Company is not in compliance with such standards.
Ever-Glory’s common stock is expected to begin trading on AMEX on July 16, 2008, under the trading symbol “EVK.”
"Our listing on the American Stock Exchange is an important milestone for Ever-Glory as we continue to grow as a public company," said Mr. Yihua Kang, Chairman and Chief Executive Officer of Ever-Glory. "This listing is expected to provide us with increased liquidity and access to a much broader investor base. We also believe it will better position us to execute our future growth strategies. We look forward to delivering outstanding returns for our shareholders."
About Ever-Glory International Group, Inc.
Ever-Glory International Group (anticipated trading symbol AMEX: EVK) is a U.S. publicly-traded company engaged in international garment manufacturing for well-known middle- to high-grade casual, outerwear and sportswear brands. In 2008, the company partnered with local retailer La Chapelle to launch its own brand of ladies’ garments in China. The company’s U.S. headquarters is based in Los Angeles, California, although Ever-Glory also has several subsidiaries in China, including Goldenway Nanjing Garments Co. Ltd., Nanjing New-Tailun Garments Co, Ltd., Nanjing Catch-Luck Garments Co., Ltd. and Shanghai LA GO GO Fashion Company Limited. Ever-Glory is a supplier to well-known garment retail chains in countries including China, Japan, Europe and the U.S. In 2007, 57% of the company’s total sales revenue came from customers in Europe, 16% from Japan, 21% from the United States and 6% from within China. For more information about Ever-Glory International Group, please visit: http://www.everglorygroup.com .
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management’s current expectations Such factors include, but are not limited to, the company’s ability to accurately complete product orders, coordinate product design with its customers, ability to expand and grow its distribution channels, political and economic factors in the People’s Republic of China, the company’s ability to find attractive acquisition candidate and/or joint venture partners, the performance of third parties with whom the company does business, dependence on a limited number of larger customers and other factors detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact:
Ever-Glory International Group, Inc.
Emily Guo, Chief Financial Officer
Phone: +86-25-52096222
Email: emily@ever-glory.com
CCG Investor Relations
Crocker Coulson, President
Phone: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
