CHANGSHU, China, Sept. 29, 2011 /PRNewswire-Asia-FirstCall/ -- Sutor Technology Group Limited (the "Company" or "Sutor") (Nasdaq: SUTR), a leading China-based non-state-owned manufacturer and distributor of high-end fine finished steel products and welded steel pipes used by a variety of downstream applications, today announced it has filed with the United States Securities and Exchange Commission, Form 12b-25 Notification of Late Filing for its Annual Report on Form 10-K for the year ended June 30, 2011. The Form 12b-25 will allow the Company an additional 15 calendar days to file the Form 10-K which is otherwise due on September 28, 2011.
The reason for the delay is to allow the Company additional time to gather information required for an accurate and full completion of the Annual Report on Form 10-K. The filing delay is not the result of the need to restate any prior period financial results. The Company fully expects to be able to file well within the additional time allowed by the Form 12b-25. Upon filing on or before October 13, 2011, the Company's Annual Report on Form 10-K will be deemed to be timely filed.
Information regarding the Company's fiscal year end conference call date and time will be provided in a forthcoming news release.
About Sutor Technology Group Limited
Sutor (Nasdaq: SUTR) is a leading China-based manufacturer and distributor of high end fine finished steel products and welded steel pipes used by a variety of downstream applications. The Company utilizes a variety of in-house developed processes and technologies to convert steel manufactured by third parties into fine finished steel products, including hot-dip galvanized steel, pre-painted galvanized steel, acid-pickled steel, cold-rolled steel and welded steel pipe products. These products are used for household appliances, solar waters heaters, automobiles, IT, construction, etc. Currently Sutor has three operating subsidiaries located in two provinces with 12 major production lines capable of processing approximately 2 million metric tons of steel products annually. It has regional offices in Changshu, Jiangsu province, Ningbo, Zhejiang province, and Shanghai. To learn more about the company, please visit http://www.sutorcn.com/en/index.php.
This press release includes certain statements that are not descriptions of historical facts, but are forward-looking statements. Such statements include, among others, those related to delayed filings and the Company's ability to file the Annual Report on Form 10-K on or before November 13, 2011, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. There can be no assurance as to when or if the Company's Annual Report on Form 10-K for the year ended June 30, 2011 will be filed with the SEC nor when the Company will issue a press release. The Company's actual results of operations for the fiscal year and fourth fiscal quarter ended June 30, 2011 could differ materially from its previously announced estimates due to completion of the Company's financial close procedures, final adjustments and other developments that may arise before such financial results are finalized. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause our actual results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and uncertainties include, but not limited to, the factors mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended June 30, 2010, and other risks mentioned in our other reports filed with the Securities Exchange Commission, or SEC. 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. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.
For more information, please contact:
Mr. Jason Wang, Director of IR
Sutor Technology Group Limited
SOURCE Sutor Technology Group Limited