WUHAN, Hubei, China, Aug. 31 /Xinhua-PRNewswire/ -- China Automotive Systems, Inc. , a leading power steering components and systems supplier in China, today announced the details of its Annual Meeting of Stockholders as follows:
Notice Of Annual Meeting Of Stockholders
To Be Held On September 5, 2007
The Annual Meeting of Stockholders of China Automotive Systems, Inc. (the "Company") will be held on September 5, 2007 (Wednesday) at 10 a.m. local time at Shanghai Hall, Jin An Hilton Hotel, 250 Hua Shan Road, Shanghai, China 200040 for the following purposes, as more fully described in the accompanying proxy statement:
1. To elect five directors to hold office until the 2008 Annual
Meeting of Stockholders and until their successors are elected
and qualified.
2. To ratify the appointment of Schwartz Levitsky Feldman LLP as the
Company's independent auditors for the fiscal year ending December
31, 2007.
3. To transact such other business as may properly come before the
meeting or any adjournments or postponements thereof.
Only stockholders of record at the close of business on July 30, 2007 will be entitled to notice of, and to vote at, such meeting or any adjournments or postponements thereof.
About CAAS
Based in Hubei Province, People's Republic of China, China Automotive Systems, Inc. is a leading supplier of power steering components and systems to the Chinese automotive industry, operating through seven Sino-foreign joint ventures. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers 4 separate series of power steering and 307 models of power steering with an annual production capacity of 800,000 sets, steering columns, steering oil pumps and steering hoses. Its customer base is comprised of leading Chinese auto manufacturers such as China FAW Group, Corp., Donfeng Auto Group Co., Ltd., Brilliance China Automotive Holdings Ltd., Beiqi Foton Motor Co., Ltd. and Chery Automobile Co., Ltd., etc. For more information, please visit: http://www.caasauto.com .
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and, condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the impact of competitive products, pricing and new technology; changes in consumer preferences and tastes; and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of production, and other factors as those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time.
For further information, please contact:
Jie Li
China Automotive Systems
Email: jieli@chl.com.cn
Kevin Theiss
Investor Relations
The Global Consulting Group
Tel: +1-646-284-9409
Email: ktheiss@hfgcg.com
Stacy Dimakakos
Media Relations
The Global Consulting Group
Tel: +1-646-284-9417
Email: sdimakakos@hfgcg.com
China Automotive Systems, Inc.