Stocks & Investing
Stocks and Investing
Stocks and Investing
Mon, June 29, 2009 China Auto Logistics, Inc.: China Auto Logistics Approved for Listing on the NASDAQ Capital Market Under a New Trading Symbol:
TIANJIN CITY, CHINA--(Marketwire - June 29, 2009) - China Auto Logistics Inc. (
Mr. Tong Shiping, CEO and President of the Company, stated, "We are extremely pleased to have received approval to list on NASDAQ for a variety of reasons. First, we believe NASDAQ is recognized worldwide as the leading exchange for young, growing companies. In turn, we believe this will greatly broaden our exposure to retail and institutional investors who also seek liquidity and the best execution and prices. Lastly, we believe it reflects well on our Company that we have been able to meet NASDAQ's very stringent requirements with respect to financial strength and corporate governance and are very proud of this achievement."
Description of China Auto Logistics Inc.
Founded in 1995, with profitable sales in 2008 of approximately $190 million (+25%), the Company has grown to become one of the top importers of luxury vehicles in China. Imported luxury automobiles have been the fastest growing segment of the still young Chinese automobile industry. The Company has fueled its sales and profit growth by also becoming one of China's top logistical servicing and dealer financing companies for other automobile importers. Additionally, it is a leader in providing accurate pricing and other automobile-related information with its three web portals. [ www.at188.com ] is aimed at the import market, and [ www.1365car.tj.cn ] (in Tianjin), is being expanded throughout China to reach the much larger market of domestically manufactured automobile purchasers and dealers. Most recently, the Company launched [ www.at160.com ], the first national website in China for domestic automobile customers and dealers. Going forward, the Company's growth strategy is focused on expansion of its highly profitable websites and auto related services, including new online services for domestic auto dealers that it expects to make available. For additional information, please visit [ www.chinaautologisticsinc.com ].
Information Regarding Forward-Looking Statements
Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission.
