ZHEJIANG, China, Nov. 28, 2012 /PRNewswire-FirstCall/ -- SORL
Auto Parts, Inc. (NASDAQ: SORL)("SORL" or "the Company"), a
leading supplier of brake and control systems to the global
commercial vehicle industry, today announced the Company was rated
a 'Quarterly Excellent Supplier' by the Zhengzhou Yutong Bus Co.,
Ltd ("Yutong") based on its overall outstanding performance during
the third quarter of 2012.
During the recent third quarter supplier evaluation, SORL was
rated as one of Yutong's excellent suppliers measured by key
performance criteria (quality, cost, delivery, technology, and
aftersales service), and required management indicators
(certification compliance, service quality, change implementation,
quality system, packing and labeling, and environmental health and
safety specifications). Recipients of the quarterly Excellent
Supplier award are prioritized to receive the annual Excellent
Supplier award, and potentially be rewarded with more supply orders
in the next year.
Ms. Jinrui Yu, SORL's Chief
Operating Officer, commented, "We thank Yutong for recognizing our
excellence and contribution to their success during the third
quarter of 2012. Over the years, we have remained one of the most
loyal suppliers to Yutong. In order to grow together, we have
worked diligently to improve our technological innovation, uphold
strict quality control, enhance cost controls, and strengthen
aftersales service. We are determined in 2013 to further improve
our service to our customers and create higher shareholder value.
We estimate that sales to Yutong may increase by 20% in 2013."
Headquartered inside the 280-acre Yutong Industrial Park of
Zhengzhou City in Henan Province, Zhengzhou Yutong Group Co.,
Ltd. ("Yutong Group") has a daily production capacity above 210
units of buses, and is the largest and technologically most
advanced single-plant manufacturing base of large and medium-sized
buses in the world. Listed on the Shanghai Stock Exchange in 1997
(stock code: 600066), Yutong is the first domestic bus company to
go public. In 2011, Yutong produced 45,895 units of buses, up 9.6%
from 2010, and sold 46,688 units, up 13.41% from 2010. Yutong Group
achieved sales revenue of RMB 16.93
billion, up 24.4% from 2010. Yutong maintains the No. 1 rank
in the bus manufacturing industry in terms of scale and sales.
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. is the
market leader for commercial vehicles brake systems, such as trucks
and buses in China. 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 systems and others. The Company has four authorized
international sales centers in UAE, India, the United
States and Europe. 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 the Company's proposed
discussions related to its business or growth strategy, which are
subject to change. Such information is based upon expectations of
the Company's management that were reasonable when made, but may
prove to be incorrect. All of such assumptions are inherently
subject to uncertainties and contingencies beyond the Company's
control and upon assumptions with respect to future business
decisions, which are subject to change. The Company does not
undertake to update the forward-looking statements contained in
this press release. For additional information regarding known
material factors that could cause the Company's results to differ
from its projected results, please see its filings with the SEC,
including its Annual Report on Form 10-K, Quarterly Reports on Form
10-Q, and Current Reports on Form 8-K. 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.
Contact Information
Raymond Lin
86+13967776556
86+577+65817721
Email: ljf@sorl.com.cn
Phyllis Huang
86+15167705972
86+577+65817721
Email: Phyllis@sorl.com.cn
Kevin Theiss
Grayling
+1 646 284 9409
Email: kevin.theiss@grayling.com
SOURCE SORL Auto Parts, Inc.