SOURCE: China Auto Logistics Inc.

China Auto Logistics Inc.

November 05, 2012 07:20 ET

China Auto Logistics Has Regained Compliance With NASDAQ Minimum Bid Price Listing Requirement

TIANJIN, CHINA--(Marketwire - Nov 5, 2012) - China Auto Logistics Inc. (the "Company") (NASDAQ: CALI), one of China's leading developers of websites for buyers and sellers of imported and domestic automobiles, a top seller in China of imported luxury cars, and a leading provider of auto-related services, today announced receipt of a letter from The NASDAQ Stock Market notifying the Company that it has regained compliance with NASDAQ's minimum bid price continued listing requirement, as a result of the closing bid price of its common stock having been at or above the minimum requirement of $1.00 per share for at least 10 consecutive trading days.

About China Auto Logistics Inc.

China Auto Logistics Inc. is one of China's top sellers of imported luxury vehicles, and also manages China's largest imported auto mall in Tianjin. Additionally, it operates www.cali.com.cn, one of the leading automobile portals in China, as well as three major websites serving China's auto dealers and their customers. The Company also provides a growing variety of "one stop" automobile related services such as short term dealer financing. Additional information about the Company is available at www.chinaautologisticsinc.com.

Information Regarding Forward-Looking Statements
Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission.

 

Contact Information

  • Contacts:

    Sun Jiazhen
    sjz_cali@126.com

    Ken Donenfeld
    DGI Investor Relations Inc.
    kdonenfeld@dgiir.com
    Tel: 212-425-5700
    Fax: 646-381-9727


    Floor 1 FTZ International Auto Mall
    86 Tianbao Avenue
    Free Trade Zone, Tianjin, P.R. China 300461
    Tel:86 (22) 25762771
    Fax: 86 (22) 66271509