ZHEJIANG, China, Dec. 17, 2012 /PRNewswire-FirstCall/ -- SORL Auto
Parts, Inc. (NASDAQ: SORL) ("SORL" or "the Company"), a leading
supplier of brake and control systems to the global commercial
vehicle industry, today announced the Company has received the
"Excellent Supplier for the Military" award from the Shaanxi Heavy
Duty Truck Co., Ltd. ("Shaanxi"),
and the "Excellent Supplier" designation from both the Sichuan
South Chun Auto Group Company Limited ("South Chun Group") and the
Hubei Sanjiang Space Wanshan Special Vehicle Co., Ltd. ("Wanshan"),
for its overall outstanding performance during the year of
2012.
Ms. Jinrui Yu, SORL's Chief
Operating Officer, commented, "These awards highlight our success
in providing advanced solutions to such important automotive
companies as Shaanxi, South Chun
Group and Wanshan, and in expanding our market share in a
challenging environment. Through our superior research and
development program, we continue to roll out innovative new
products with improved performance, especially by adding electronic
features, to solve our customers' evolving needs and to further
enhance our market position as China's leading commercial vehicle air brake
systems manufacturer. Our new products also better enable us to
penetrate markets outside of China
and to generate free cash flow to build shareholder value."
The Shaanxi Auto Group Co., Ltd. is headquartered in
Xi'an, Shanxi Province, with total assets of
RMB29.2 billion and 33,000 total
employees. In 2011, Shaanxi Auto produced and sold 120,000 units of
various vehicles, with sales revenue of RMB31 billion. Its heavy-duty truck sales volume
reached 100,000 units and it exported 10,000 vehicles. Shaanxi is mainly engaged in the development,
production and sales of commercial vehicles and auto parts, and it
is the largest new energy commercial vehicle production enterprise
with more than a 50 percent market share in natural gas
heavy-duty trucks.
Sichuan South Chun Auto Group Company Ltd. is a major commercial
vehicle manufacturer with total assets of RMB3 billion and more than 5,000 employees. Known
for its high performance to price ratio and excellent quality,
South Chun Group vehicles are exported to more than 10 countries in
Asia and Africa. In 2011, South Chun Group produced and
sold 73,800 units, and was ranked 19th and 15th in the national
automotive industry and the national truck industry
respectively.
Hubei Sanjiang Space Wanshan Special Vehicle Co., Ltd. is part
of the China Sanjiang Space Group, a restructured company from the
State-operated Wanshan Special Vehicle Factory. Wanshan owns a
state-level special vehicle technical center and two subsidiaries:
Sanjiang Walite Special Vehicle Co., Ltd. and Hubei Shuanglong
Special Purpose Motor Vehicle Co., Ltd. The company is a vehicle
and chassis manufacturing corporation. After 40 years of
development, Wanshan is honored to be a member of the 500 Largest
Mechanical Industry Enterprises in China, the top 500 Chinese Information
Enterprises, the First-Class Enterprises in China, and the Hubei May First Labor Award
Corporation, The Model Corporation in Hubei Province and the Hubei High and New Tech
Enterprises Corporation. Wanshan has assets of approximately
RMB1.1 billion.
About SORL Auto Parts, Inc.
As a global tier one supplier of brake and control systems to
the commercial vehicle industry, SORL Auto Parts, Inc. is the
market leader for commercial vehicles brake systems, such as trucks
and buses in China. 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 65 categories with over 2000 specifications in
brake systems and others. The Company has four authorized
international sales centers in UAE, India, the United
States and Europe. 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 the Company's proposed
discussions related to its business or growth strategy, which are
subject to change. Such information is based upon expectations of
the Company's management that were reasonable when made, but may
prove to be incorrect. All of such assumptions are inherently
subject to uncertainties and contingencies beyond the Company's
control and upon assumptions with respect to future business
decisions, which are subject to change. The Company does not
undertake to update the forward-looking statements contained in
this press release. For additional information regarding known
material factors that could cause the Company's results to differ
from its projected results, please see its filings with the SEC,
including its Annual Report on Form 10-K, Quarterly Reports on Form
10-Q, and Current Reports on Form 8-K. 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.
Contact Information
Raymond Lin
+86 139 6777 6556
+86 577 6581 7721
Email: ljf@sorl.com.cn
Phyllis Huang
+86 151 6770 5972
+86 577 6581 7721
Email: Phyllis@sorl.com.cn
Kevin Theiss
Grayling
+1 646 284 9409
Email: kevin.theiss@grayling.com
SOURCE SORL Auto Parts, Inc.