SOURCE: AutoChina International Ltd.

AutoChina International Ltd.

December 15, 2014 08:30 ET

AutoChina International Announces Share Purchase by Founding Shareholder

SHIJIAZHUANG, CHINA--(Marketwired - Dec 15, 2014) - AutoChina International Limited ("AutoChina" or the "Company") (OTCBB: AUTCF), a leading provider of innovative financing solutions for China's transportation industry, today announced that Honest Best International Ltd., an entity owned by Mr. Yong Hui Li, AutoChina's founder, Chairman and Chief Executive Officer, recently acquired 2,663,392 of AutoChina's ordinary shares in a privately negotiated transaction for approximately $55.7 million.

Because it is a foreign private issuer, AutoChina's officers and directors are not required to file insider trading reports with the Securities and Exchange Commission. However, in accordance with its commitment to maintaining a policy of transparency with its shareholders, AutoChina's own policy is that any trading of the Company's securities totaling $250,000 or more conducted by officers or directors during any consecutive five trading days must be disclosed by the Company within 48 hours via a press release.

About AutoChina International Limited:
AutoChina International Limited focuses on providing innovative financing solutions for China's transportation industry. Founded in 2005, we are China's largest commercial vehicle sales, servicing, leasing, and support network. As of September 30, 2014, the Company owned and operated 554 commercial vehicle financing centers in 26 provinces across China, and primarily provides sales-type leasing and support services for local customers. The Company's website is http://www.autochinaintl.com.

Safe Harbor Statement:
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about the Company. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of the Company's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actual results to meaningfully differ from those set forth in the forward-looking statements:

  • Continued compliance with government regulations;
  • Changing legislation or regulatory environments;
  • Requirements or changes affecting the businesses in which the Company is engaged;
  • Industry trends, including factors affecting supply and demand;
  • Labor and personnel relations;
  • Credit risks affecting the Company's revenue and profitability;
  • Changes in the commercial vehicle industry;
  • The Company's ability to effectively manage its growth, including implementing effective controls and procedures and attracting and retaining key management and personnel;
  • Changing interpretations of generally accepted accounting principles;
  • General economic conditions; and
  • Other relevant risks detailed in the Company's filings with the Securities and Exchange Commission.

The information set forth herein should be read in light of such risks. The Company does not assume any obligation to update the information contained in this press release.

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