SORL SORL Auto Parts Inc

ZHEJIANG, China, Dec. 14 /Xinhua-PRNewswire/ -- SORL Auto Parts, Inc. (NASDAQ:SORL), a leading manufacturer and distributor of commercial vehicle air brake valves as well as other auto parts in China, today announced that it has invested a further USD$25.92 million in its operating subsidiary Ruili Group Ruian Auto Parts, Inc. To maintain its 10% shareholding in Ruili Group Ruian Auto Parts, Inc., the Ruili Group has increased its capital investment by USD$2.88 million. SORL Auto Parts, Inc. continues to hold a 90% controlling interest in the operating subsidiary. As a result of the increased investment made by both SORL Auto Parts, Inc. and the Ruili Group, the total registered capital of Ruili Group Ruian Auto Parts, Inc. will increase from USD$7.1 million to USD$35.9 million. The capital investments will be used to fund capital expenditures, including the construction of a new plant, equipment purchases, research and development efforts, the further development of the company's international sales network and for working capital and other general corporate purposes including possible strategic alliances. Mr. Xiaoping Zhang, Chairman and CEO of Ruili Group Ruian Auto Parts, Inc, commented, "The arrival of this new capital will allow us to broaden our product offerings and expand our production capacity. Our goal is to strengthen the fundamentals of the company and further enhance shareholder value. With the 2008 Beijing Olympics ahead and an accelerating global purchasing trend, we are upbeat about the future outlook for our business." About SORL Auto Parts, Inc. As China's leading manufacturer and distributor of automotive air brake valves, SORL Auto Parts, Inc. ranks first in market share in the segment for commercial vehicles weighing more than three tons, such as trucks and buses. The Company distributes products both within China and internationally under the SORL trademark. SORL ranks among the top 100 auto component suppliers in China, with a product range that includes 40 types of air brake valves and over 800 different specifications. The Company has three authorized international sales centers in Australia, United Arab Emirates, and the United States, with additional offices slated to open in other locations in the near future. For more information, please visit http://www.sorl.cn/ . Safe Harbor Statement Statements made in this press release that are not historical fact are "forward-looking statements," which are based on current expectations that include a number of risks and uncertainties. Additional factors that could potentially affect the Company's financial results may be found on the Company's filings with the Securities and Exchange Commission ( http://www.sec.gov/ ). For more information, please contact: David Ming He SORL Auto Parts, Inc. Tel: +86-577-6581-7720 Email: Christopher Chu The Global Consulting Group Tel: +1-646-284-9426 Email: DATASOURCE: SORL Auto Parts, Inc. CONTACT: David Ming He of SORL Auto Parts, Inc., +86-577-6581-7720, or ; or Christopher Chu of The Global Consulting Group, +1- 646-284-9426, or Web site: http://www.chinaautomotivesystems.com/

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