Sept. 19, 2012
/PRNewswire/ -- Wonder Auto Technology, Inc. (the "
"), a manufacturer of automotive electrical parts, safety products, suspension products and engine accessories in
, 2012, the Company has submitted an offer of settlement with the Securities and Exchange Commission (the "Commission") to resolve an outstanding proceeding revoking the Company's registration of securities for its failure to file periodic reports with the Commission in violation of Section 12(g) of the Securities Exchange Act of 1934 (the "Exchange Act"). As a result, the Company's registration will be revoked pursuant to Section 12(j) of the Exchange Act.
Once a "deregistration" order has been issued by the Commission, no member of a national securities exchange, broker, or dealer in the U.S. may make use of the mails or any means or instrumentality of interstate commerce to effect any transaction in, or to induce the purchase or sale of, the Company's stock.
This release includes certain statements that are not descriptions of historical facts, but are forward-looking statements. Such statements include, among others, the Company's intentions to issue its financial statements. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "hopes," "intends," "may," "will," or similar expressions. Such information is based upon assumptions and expectations of the Company's management that were reasonable when made but may prove to be incorrect. All of such assumptions and expectations are inherently subject to uncertainties and contingencies beyond the Company's control and based upon premises 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 report. Factors that could impact these forward looking statements include, among others, the Company's ability to complete its filings, including securing adequate resources to complete such filings, the timing and scope of third-party review of the filings (such as legal and auditor review), and the implementation of internal controls or other recommended measures that may need to be addressed in order to complete the filings, and other matters as well as the Company's ability to identify viable alternatives for providing shareholders liquidity. For a description of the other risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see the Company's most recent Quarterly Reports on 10-Q and Annual Report on Form 10-K filed with the Securities and Exchange Commission ("
"), and the Company's subsequent SEC filings. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system at
. All information in this release is as of the date of the release only.
About Wonder Auto
Wonder Auto Technology, Inc. is a
holding company with operating subsidiaries in
primarily engaged in the business of designing, developing, manufacturing and selling automotive electric parts, automotive safety products, suspension products and engine components. Its products include alternators and starters, airbags, pretensioners and steering wheels, engine valves and tappets, and rods and shafts for use in shock absorber systems. It has been manufacturing alternators and starters in
since 1997. The Company's subsidiary Jinzhou Jinheng has been designing and developing airbags for over 10 years. The Company's subsidiary Jinan Worldwide has been producing engine valves and tappets for over 50 years. The Company's subsidiary Jinzhou Wanyou is supplying rods and shafts to suspension system manufacturers worldwide.
The Company's products are used in passenger and commercial automobiles, and it is focused on the small- to-medium sized engine passenger vehicle market. The Company sells its products primarily within
to automobile original equipment manufacturers, or OEMs, engine manufacturers and automotive parts suppliers.