ZHEJIANG, China, Sept. 8, 2011 /PRNewswire-Asia-FirstCall/ -- SORL Auto Parts, Inc. (NASDAQ: SORL) ("SORL" or "the Company"), a global tier one supplier of brake and control systems to the commercial vehicle industry, announced today that the Company has been awarded the title of "Qualified Supplier" by Xiamen King Long United Automotive Industry Co., Ltd. ("King Long Bus"), one of China's largest bus manufacturers. The Company has begun supplying its air brake products to King Long Bus. This new supplier relationship marks another breakthrough by SORL in the Chinese domestic bus market after winning orders from Zhengzhou Yutong Group Co. Ltd. to purchase disc spring chambers exclusively from SORL in 2011.
In 2011, the Chinese bus market continues to maintain its growth momentum due to greater urbanization, improved road conditions and expansion in highway passenger transportation. Following recent market trends, SORL has enhanced its development program for the Chinese bus market as it continues to gain greater penetration through the Company's diversified portfolio of highly-reliable, high-quality products.
Mr. Baojian Tao, SORL Auto Parts' Chief Operating Officer, commented, "We will continue to strengthen our strict quality assurance program and product innovation, as well as promote our systematic modular supply to optimize our product portfolio. We are confident in our capability to supply customers with high value-added and cost-effective braking solutions so as to increase our market share and enhance our profitability."
Established in 1988, Xiamen King Long United Automotive Industry Co., Ltd. specializes in R&D, manufacture and sales of buses. The Company enjoys the reputation of being the "National Bus" of China and it has successfully serviced numerous key international events such as the 2008 Beijing Olympic Games, the 2010 Shanghai World Exposition and the 2010 South Africa World Cup. King Long buses range from 4.8 meters to 18 meters in length and are widely used for passenger transportation, traveling, public transportation and special purposes. In 2010, King Long Bus sold 23,561 units with total sales revenue exceeding 6.5 billion RMB. Currently, King Long Bus products are sold in more than 80 countries and regions around the world.
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. ranked No. 1 for market share in the segment for commercial vehicles brake system, 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 65 categories with over 2000 specifications in brake system and others. The Company has three authorized international sales centers in 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.
SOURCE SORL Auto Parts, Inc.