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Created: 04/14/2007 01:37:30 AM - Followers: 9 - Board type: Free - Posts Today: 0

Earnings: 10Q ~
1Q profit rose 68%

Motley Fools 5 Star Ranking

No 1169 Yumeng Road
Ruian Economic Development Zone
Ruian City,
China - Map
Phone: 86 577 6581 7720
Fax: 86 577 6581 7733
Web Site:

Index Membership: N/A
Sector: Consumer Goods
Industry: Auto Manufacturers - Major
Full Time Employees: 2,005

Company Overview

SORL Auto Parts, Inc. (the ¡°Registrant¡± or the ¡°Company¡±) is engaged in the business of manufacturing and distributing automotive air brake valves and related components for commercial vehicles weighing more than three tons, such as trucks and buses. The Company distributes products both in China and internationally under the SORL trademarks. The Company¡¯s product range includes 40 categories of brake valves with over 800 different specifications. According to an announcement of National Bureau of Statistics of China and China Association of Automobile Manufacturers (¡°CAAM¡±) in June 2006, the Company ranks among the top 100 automotive component suppliers in China.

SORL Auto Parts, Inc. is the largest commercial vehicle air brake system manufacturer in China. The Company distributes products both in China and internationally under the SORL trademarks. In general, customers are divided into three groups: OEM in China, aftermarket distributors in China, and international customers, accounting for approximately 32%, 28% and 40%, respectively, of the Company¡¯s annual sales for 2006.
For OEM market in China, SORL Auto Parts, sells its products to thirty-nine (39) vehicle manufacturers. The Company has established long term business relationships with most of the major automobile manufacturers in China, such as FAW Qingdao Automobile Works, First Auto Group Purchase Dept. Dongfeng Axle Co.,Ltd., Beiqi Foton Motor Co., Ltd., Zhucheng Automobile Works, Liuzhou Special Auto Manufacturing Co.Ltd.

For the After Market in China, Sorl Auto Parts, Inc. has established a sales networks of twenty-eight authorized distributors covering the following seven regions nationwide. The 28 distributors sell only ¡°SORL¡± products and in turn channel the products through over 800 sub-distributors.

For International Market SORL Auto Parts, Inc. has signed agreements with three distributors in UAE, Australia and the US. It also actively participates in international trade shows at Paris, Frankfurt, Dubai and Las Vegas, to update its knowledge on automobile technology and local market trends and to acquire new customers and new orders. The Joint Venture has sold products to over seventy-two (72) countries. Total Export sales in 2006 increased by 45% compared to that in 2005.

The Company obtained ISO9001/QS9000/VDA6.1 System Certifications in 2001. In 2004, the Joint Venture passed the ISO/TS 16949 System Certification conducted by the TUV CERT Certification Body of TUV Industrie Service GmbH, and passed the annual review in 2005. The ISO/TS 16949 system, a higher standard compared to and the replacement for ISO9001/QS9000/VDA6.1 System, was enacted by the International Automotive Task Force and is recognized by the world¡¯s main automobile makers and ISO 14001/OHSAS18001 Environment/Safety Administration system.


Xiao Ping Zhang has served as Chief Executive Officer and chairman of the board since our inception. He founded the Ruili Group, a company specializing in a variety of automotive parts and components, in 1987, and has served as chairman of the Ruili Group since then. In 2003, he was elected the President of the Wenzhou Auto Parts Association the largest automotive parts trade association in China with more than 1000 members, and Vice-President of the China Federation of Industry and Commerce Auto and Motorbike Parts Chamber of Commerce. Mr. Zhang is also a member of the Standing Committee of the People¡¯s Congress in Rui¡¯an City, Zhejiang, China. Mr. Zhang graduated from Zhejiang Radio and TV University in 1986 with a major in Industrial Management. He is the brother of Xiao Feng Zhang.

Xiao Feng Zhang has served as Chief Operating Officer and a member of the board of directors since our inception. He is responsible for sales and marketing. Mr. Zhang co-founded the Ruili Group with his brother, Mr. Xiao Ping Zhang, in 1987, and served as the General Manager of the Ruili Group until March 2004. Mr. Zhang received his diploma in economics from Shanghai Fudan University in 1994. He is the brother of Xiao Ping Zhang.

SORL Auto Parts Reports 36% Revenue and 40% Net Income Growth for 2007

2007 Achievements

In March 2007, SORL announced that it entered into a new sales agreement with India's largest commercial vehicle manufacturer, TATA Motors, to supply air brake valves and related products. In addition, SORL also announced that the Company opened a sales center in India to focus on OEMs and the aftermarket in the Indian market.

In October 2007, SORL announced the purchase of land rights, a manufacturing plant and an office building with a total floor area of 66,177.91 square meters, or 712,333 square feet, from Ruili Group Co. Ltd., for US$20 million. The appraisal of the assets was conducted by the leading independent appraiser, DTZ Debenham Tie Leung Ltd., and total asset value was appraised at US$20.3 million. As a result of this transaction, the acquired capacity expansion is expected to meet the Company's growth demands for the next 2 to 3 years. In addition, SORL purchased approximately US$7 million of advanced equipment to both add capacity and efficiency to its production capabilities.

In October 2007, SORL was also designated as the exclusive air brake parts supplier for the estimated 2,400 new municipal buses the City of Tianjin is purchasing. These new buses are being acquired to both help solve the transport needs of the city's residents and to accommodate the expected larger transportation demands of the nearby Beijing 2008 Olympics. Additionally, the city of Beijing, has also chosen SORL as a designated air brake parts supplier for its municipal bus fleet. Nationally, it is estimated China had over 341,000 municipal buses. Due to their almost nonstop operation, municipal buses require frequent maintenance and the replacement of their brake systems.

In October 2007, SORL announced that it has entered into a technology development agreement with China's second largest heavy-truck maker, Baotou North- Benz Heavy Duty Truck Co. Ltd. With this new agreement, SORL became a major long-term supplier of air brake products to North-Benz.

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#245 News: $SORL SORL Auto Parts Enters Into Definitive whytestocks 11/29/2019 10:00:21 AM
#244 News: $SORL SORL Auto Parts Announces Board Changes whytestocks 05/24/2019 08:14:33 AM
#243 News: $SORL SORL Auto Parts Announces Receipt of whytestocks 04/26/2019 09:20:38 AM
#242 News: $SORL SORL Auto Parts Reports Record 20% whytestocks 04/01/2019 01:50:37 PM
#241 Stock closed mid range. Either gap up or Rogerthat1 05/14/2018 06:08:17 PM
#240 Earnings report is coming out tomorrow. I am PersianMeow 05/14/2018 11:16:33 AM
#239 To my understanding this stock has an insider PersianMeow 04/11/2018 11:00:54 PM
#238 Some light being shined here. Im Back 03/28/2018 08:44:06 PM
#237 Four stocks in the Major Auto Manufacturers space, BottomBounce 03/21/2018 01:29:11 PM
#236 "Four stocks in the Major Auto Manufacturers space, BottomBounce 02/21/2018 09:08:09 PM
#235 the price is low is because nobody believes villawest 02/07/2018 02:45:47 PM
#234 Still think SORL should be trading above $10/share. NotRichYet2 11/16/2017 11:07:42 AM
#233 So why is there such a huge persistent jgstockhunter 11/16/2017 09:00:45 AM
#232 That's nice But with the book value now NotRichYet2 11/15/2017 08:51:55 AM
#231 SORL hit 8.97 p/m very nice G2G 11/15/2017 07:58:28 AM
#230 Based on the PM action so far PPS NotRichYet2 11/15/2017 07:58:10 AM
#229 1/5 of float short Awl416 11/15/2017 07:25:31 AM
#228 Dip and rip joborders 10/24/2017 12:19:32 PM
#227 $SORL nice >> BottomBounce 10/04/2017 06:40:17 PM
#226 Did they do a cc for this ER? Rogerthat1 08/21/2017 08:02:30 PM
#225 SORL invest 5.21 stocktrademan 08/19/2017 10:29:33 PM
#224 $SORL Nicely setting up for upcoming ER in Rogerthat1 08/06/2017 11:38:25 PM
#223 SORL downgraded by ZACKS from BUY to HOLD soundings 07/19/2017 03:31:34 PM
#222 SORL downgraded by ZACKS from BUY to HOLD soundings 07/19/2017 03:31:32 PM
#221 SORL buy 8.30 stocktrademan 05/26/2017 11:25:17 AM
#220 Weeeeeee SHORTY swing my way!!! EL CHAPO 05/22/2017 12:59:54 PM
#219 Junk EL CHAPO 05/22/2017 12:28:44 PM
#218 Hope you took your profits!! This POS is EL CHAPO 05/22/2017 12:28:18 PM
#217 BID BUILDING !!! bigarow 05/22/2017 08:32:22 AM
#216 * * $SORL Video Chart 05-15-17 * * ClayTrader 05/15/2017 05:21:28 PM
#215 I am still watching I have shorted this mncowboy61 05/08/2017 02:41:01 PM
#214 IMPRESSIVE earning$= G2G 03/31/2017 09:01:36 AM
#213 Any one still watching this one here? It hotdawg 12/30/2016 02:23:53 PM
#212 That will help move it up. Thanks for hotdawg 12/07/2016 10:42:06 AM
#211 Copied this off my brokerage site news feed local 13 12/06/2016 08:54:58 AM
#210 I dont know what is going on their hotdawg 12/05/2016 11:59:22 AM
#209 Why is SORL languishing? Because it's a local 13 12/05/2016 11:34:48 AM
#208 I'm in for a few hundred also. hotdawg 11/17/2016 09:24:29 AM
#207 I bought a couple hundred @ 4.04 mncowboy61 11/16/2016 04:25:14 PM
#206 SORL is poised, but it's kind of not local 13 11/15/2016 09:25:44 AM
#205 the sales are up and the profit is hotdawg 11/14/2016 04:57:46 PM
#204 I am following SORL. Depending on what happens mncowboy61 11/11/2016 04:48:44 PM
#203 Any one looking at SORL? hotdawg 11/08/2016 02:06:14 PM
#202 SORL bullish 4.41 stocktrademan 10/11/2016 11:05:49 AM
#201 SORL bullish 4.31 stocktrademan 10/10/2016 05:01:56 PM
#200 Lot of Short sellers coming in by the Moto260 09/20/2016 11:29:47 PM
#198 SORL > Impressive technicals: impressive fundamentals. > Huge crudeoil24 09/20/2016 10:20:17 AM
#197 SORL > crudeoil24 09/19/2016 10:51:22 AM
#196 SORL has a forward PE of 5.07 according crudeoil24 09/19/2016 10:41:22 AM
#195 SORL $4.44 from $2s wow. Beast mode ClearlyStocks 09/19/2016 10:24:46 AM
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