SORL Auto Parts Inc. (Nasdaq: SORL |
PowerRating
) (“SORL” or “the Company”), a leading
manufacturer
and distributor of commercial vehicle brake systems as well as related auto parts in China, today announced that Mr. Xiaoping Zhang, the Company’s Chairman and Chief Executive Officer, participated in the organizational
meeting
in Beijing establishing the China Overseas Listed Corporations Association (COLCA) and was appointed an executive vice president of the Association on March 7, 2010.
The Articles of the Association were approved and the first council of the Association was elected successfully in the meeting. Mr. Wang Xianzhang was elected as the first president of the Association to serve a three-year term. He is presently the director of the Central University of
Finance
and Insurance, the former president of the China Insurance Association, the former general manager of the China Life Insurance Group and the former chairman of China Life Insurance Co. Mr. Xiaoping Zhang, Chairman and CEO of SORL Auto Parts Co., Ltd. (NASDAQ: SORL), Mr. Qingjie Zhao, Chairman and CEO of Wonder Auto Technology Co., Ltd. (WATG), and Mr. Siping Fang, Chairman of China Valves Technology Co., Ltd. ( CVVT |
PowerRating
), were elected as executive vice presidents.
Mr. Xiaoping Zhang, SORL Auto Parts’ Chairman and CEO, said, “The establishment of the Association will promote information sharing and the pursuit of common interests between SORL and other overseas-listed companies. It will help us to develop more opportunities for
business
cooperation in China and overseas.”
The Association is a non-profit cooperative organization with more than 40 members at its initiation, composed of companies that are listed or are planning to list on the stock exchanges outside mainland China such as NASDAQ, AMEX, NYSE, the London stock exchange, and the Hong Kong stock exchange. Its purpose is to promote compliance with the laws, regulations and policies of the People’s Republic of China, the listed countries and regions, to promote commercial co-operation between its members and to promote communication between members and other relevant institutions. The Association will also seek to enhance investors’ confidence of its members, to provide exclusive services to members, to represent the members’ opinions to the
government
, to protect members’ rights and interests in the overseas securities market and to enhance the overseas-listed Chinese companies’ reputations.
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