Mr. Xiaoping Zhang, the Chairman and CEO of SORL Auto Parts, Inc., Appointed Executive Vice President
ZHEJIANG, China, March 19 /PRNewswire-Asia/ -- SORL Auto Parts Inc. (Nasdaq: SORL) ("SORL" or "the Company"), a leading manufacturer and distributor of commercial vehicle brake systems as well as related auto parts in China, today announced that Mr. Xiaoping Zhang, the Company's Chairman and Chief Executive Officer, participated in the organizational meeting in Beijing establishing the China Overseas Listed Corporations Association (COLCA) and was appointed an executive vice president of the Association on March 7, 2010.
The Articles of the Association were approved and the first council of the Association was elected successfully in the meeting. Mr. Wang Xianzhang was elected as the first president of the Association to serve a three-year term. He is presently the director of the Central University of Finance and Insurance, the former president of the China Insurance Association, the former general manager of the China Life Insurance Group and the former chairman of China Life Insurance Co. Mr. Xiaoping Zhang, Chairman and CEO of SORL Auto Parts Co., Ltd. (NASDAQ: SORL), Mr. Qingjie Zhao, Chairman and CEO of Wonder Auto Technology Co., Ltd. (WATG), and Mr. Siping Fang, Chairman of China Valves Technology Co., Ltd. (CVVT), were elected as executive vice presidents.
Mr. Xiaoping Zhang, SORL Auto Parts' Chairman and CEO, said, "The establishment of the Association will promote information sharing and the pursuit of common interests between SORL and other overseas-listed companies. It will help us to develop more opportunities for business cooperation in China and overseas."
The Association is a non-profit cooperative organization with more than 40 members at its initiation, composed of companies that are listed or are planning to list on the stock exchanges outside mainland China such as NASDAQ, AMEX, NYSE, the London stock exchange, and the Hong Kong stock exchange. Its purpose is to promote compliance with the laws, regulations and policies of the People's Republic of China, the listed countries and regions, to promote commercial co-operation between its members and to promote communication between members and other relevant institutions. The Association will also seek to enhance investors' confidence of its members, to provide exclusive services to members, to represent the members' opinions to the government, to protect members' rights and interests in the overseas securities market and to enhance the overseas-listed Chinese companies' reputations.
The member list of the first council of the Association, in alphabetical order, are:
3SBio Inc. SSRX
China Digital TV Holding Co., Ltd. STV
China Education Group pending
China Information Security Tech CPBY
China Interactive Education, Inc. CIVN
China Ritar Power Corp Inc. CRTP
China Valves Technology, Inc. CVVT
China Wonder Limited CWO
Daqing Longheda Food Company Limited CNGL
Global Education & Technology Group pending
Hollysys Automation Technologies, Ltd. HOLI
Jiangsu Fengye Electric Power Environmental Protection Group pending
Jinheng Automotive Safety System Co., Ltd. 872
Jinzhou Yangguang Energy Co., Ltd. 757
Pansoft Company Limited PSOF
Sino Dragon New Energy Holdings Limited 395
SORL Auto Parts, Inc. SORL
Wonder Auto Technology, Inc. WATG
Yuhe International Inc. YUII
SORL Auto Parts, Inc.
As China's leading manufacturer and distributor of automotive air brake systems and other related auto parts. SORL Auto Parts, Inc. ranked No. 1 for market share in the segment for commercial vehicles, such as trucks and buses. The Company distributes products both within China and internationally under the SORL trademark. SORL is listed among the top 100 auto component suppliers in China, with a product range that includes 40 categories with over 1000 specifications in air brake system, air controlling system and others. The Company has four authorized international sales centers in Australia, UAE, India, and the United States. SORL is working to establish a broader global sales network. For more information, please visit http://www.sorl.cn .
Safe Harbor Statement
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as "will", "believes", "expects" or similar expressions. These forward-looking statements may also include statements about our proposed discussions related to our business or growth strategy, which is subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov.
For more information, please contact:
At SORL Auto Parts, Inc.
Ben Chen
Corporate Secretary Director of Investor Relations
Tel: +86-577-6581-7721
Email: ben@sorl.com.cn
Kevin Theiss
Grayling
Tel: +1-646-284-9409
Email: kevin.theiss@grayling.com
