AutoChina International Announces Availability of Letter to Shareholders On Its Investor Relations Website
2011年9月26日 - 10:00PM
ビジネスワイヤ(英語)
AutoChina International Limited (“AutoChina” or the “Company”)
(NASDAQ: AUTC), China’s largest commercial vehicle sales,
servicing, leasing, and support network, today announced that it
has made available on its investor website a letter to shareholders
from its Chairman and CEO, Mr. Yong Hui Li. This letter provides
additional background on the Company’s efforts to file its Annual
Report on Form 20-F for the year ended December 31, 2010 (“2010
Form 20-F”).
The letter is currently available at the “Investor Relations”
section of AutoChina’s website,
http://www.ir-site.com/autochinaintl/. Interested parties are also
welcome to contact the Company or its investor relations firm to
receive a copy of the letter.
AutoChina Appeals Nasdaq Delisting Ruling
AutoChina today announced that the Company has appealed the
ruling by the Listing Qualifications Department of The NASDAQ Stock
Market LLC that the Company’s securities be delisted from
Nasdaq.
The Company requested an oral hearing to appeal the
determination. In accordance with Nasdaq regulations, AutoChina
expects its shares will be suspended from trading on Nasdaq on
October 4, 2011, and will remain suspended until Nasdaq makes a
determination on the appeal. There is no assurance that the Company
will succeed in its appeal of Nasdaq’s delisting determination.
AutoChina Appoints Marcum Bernstein & Pinchuk LLP
AutoChina today announced that its Board of Directors, in
consultation with and upon the recommendation of its Audit
Committee, has appointed Marcum Bernstein & Pinchuk LLP
(“MarcumBP”) as the Company's new independent registered public
accounting firm, and has dismissed PricewaterhouseCoopers Zhong
Tian CPAs Limited Company (“PwC”).
About Marcum Bernstein & Pinchuk LLP
Marcum Bernstein & Pinchuk, a PCAOB-registered firm,
provides a full range of audit and assurance, tax and transaction
advisory services for clients in a variety of industries throughout
the world. With offices in New York, Beijing, Hong Kong, Guangzhou,
and Hangzhou, MarcumBP provides the expertise, cultural
understanding and support needed to efficiently serve and advise
our clients. MarcumBP currently provides services to over 30
clients in the China market. For more information please visit
http://www.marcumbp.com.
About AutoChina International Limited:
AutoChina International Limited is China’s largest commercial
vehicle sales, servicing, leasing, and support network. AutoChina’s
operating subsidiary was founded in 2005 by nationally recognized
Chairman and CEO, Yong Hui Li. The Company owns and operates 354
commercial vehicle financing and service centers across China; and
primarily provides sales-type leasing and support services for
local customers. The Company’s website is
http://www.autochinaintl.com.
Safe Harbor Statement:
This press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
about the Company. Forward-looking statements are statements that
are not historical facts. Such forward-looking statements, based
upon the current beliefs and expectations of the Company's
management, are subject to risks and uncertainties, which could
cause actual results to differ from the forward-looking statements.
The following factors, among others, could cause actual results to
meaningfully differ from those set forth in the forward-looking
statements:
- Continued compliance with government
regulations;
- Changing legislation or regulatory
environments;
- Requirements or changes affecting the
businesses in which the Company is engaged;
- Industry trends, including factors
affecting supply and demand;
- Labor and personnel relations;
- Credit risks affecting the Company's
revenue and profitability;
- Changes in the commercial vehicle
industry;
- The Company’s ability to effectively
manage its growth, including implementing effective controls and
procedures and attracting and retaining key management and
personnel;
- Changing interpretations of generally
accepted accounting principles;
- General economic conditions; and
- Other relevant risks detailed in the
Company’s filings with the Securities and Exchange Commission.
The information set forth herein should be read in light of such
risks. The Company does not assume any obligation to update the
information contained in this press release.
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