0001144204-11-039677.txt : 20110708 0001144204-11-039677.hdr.sgml : 20110708 20110708061617 ACCESSION NUMBER: 0001144204-11-039677 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110706 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110708 DATE AS OF CHANGE: 20110708 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHINA AUTOMOTIVE SYSTEMS INC CENTRAL INDEX KEY: 0001157762 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 330885775 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-33123 FILM NUMBER: 11957561 BUSINESS ADDRESS: STREET 1: NO. 1, HENGLONG ROAD STREET 2: YU QIAO DEVELOPMENT ZONE,JINGZHOU CICITY CITY: HUBEI PROVINCE STATE: F4 ZIP: XXXXX BUSINESS PHONE: 0716-8324631 MAIL ADDRESS: STREET 1: NO. 1, HENGLONG ROAD STREET 2: YU QIAO DEVELOPMENT ZONE,JINGZHOU CITY CITY: HUBEI PROVINCE STATE: F4 ZIP: XXXXX FORMER COMPANY: FORMER CONFORMED NAME: VISIONS IN GLASS INC DATE OF NAME CHANGE: 20010820 8-K 1 v228175_8k.htm CURRENT REPORT Unassociated Document


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): July 6, 2011
 
China Automotive Systems, Inc.
(Exact Name of Registrant as Specified in its Charter)
 
     
Delaware
000-33123
33-0885775
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
 
No. 1 Henglong Road, Yu Qiao Development Zone
Shashi District, Jing Zhou City
Hubei Province
People’s Republic of China
(Address of principal executive offices, including zip code)
 
Registrant’s telephone number, including area code (86) 27-5981 8527
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 

 
 
Item 3.01 
Other Events.
 
On July 6, 2011, China Automotive Systems, Inc. (the “Company”) issued a press release announcing that it plans to report 2011 first quarter results and regain compliance with Nasdaq Listing Rules before the end of July 2011.  Furthermore, the Company announced that Nasdaq has notified the CAAS that the Company has been granted a further extension of Nasdaq’s exception period of until July 29, 2011 to file CAAS’s Form 10-Q for the period ended March 31, 2011.  A copy of the Company’s press release is attached as Exhibit 99.1 to this current report on Form 8-K.
 
 
Item 9.01 
Financial Statements and Exhibits.
 
 
(d) 
Exhibits
 
Exhibit No 
Description

99.1
Press release of China Automotive Systems, Inc., dated July 6, 2011

 
2

 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
China Automotive Systems, Inc.
 
 
(Registrant)
 
     
       
Date:  July 8, 2011 
By:
/s/ Hanlin Chen  
   
Hanlin Chen
 
   
Chairman
 
       
 
 
3

 
 
EX-99.1 2 v228175_ex99-1.htm PRESS RELEASE Unassociated Document
 
China Automotive Systems Plans to Report 2011 First Quarter Results and Regain NASDAQ Compliance Before the End of July
 
HUBEI PROVINCE, China, July 6, 2011 - China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that the NASDAQ Stock Market ("Nasdaq") has notified the Company that it has until July 29, 2011 to file its Form 10-Q for the period ended March 31, 2011.  This notification from NASDAQ has no effect on the listing or trading of CAAS's shares on the NASDAQ Stock Market.
 
The Company previously announced that it was reviewing the complex accounting treatment of the Company's convertible notes issued on February 15, 2008. CAAS has recently filed its annual report on Form 10-K for the fiscal year ended December 31, 2010, amended quarterly reports on Forms 10-Q/A for the quarters ended March 31, June 30 and September 30, 2010, and its amended annual report on Form 10-K/A for the year ended December 31, 2009.
 
CAAS believes that it will be able to file its Form 10-Q for the quarter ended March 31, 2011 by July 29th. With the completion of this expected quarterly filing, CAAS will be in full compliance for continued listing requirements under NASDAQ Listing Rule 5250(c)(1), which requires the timely filing of SEC periodic reports.

About China Automotive Systems, Inc.
Based in Hubei Province, the 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 nine Sino-foreign joint ventures. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers four separate series of power steering with an annual production capacity of over 3.5 million 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., Dongfeng Auto Group Co., Ltd., BYD Auto Company Limited, Beiqi Foton Motor Co., Ltd., Chery Automobile Co., Ltd. and Chrysler North America outside of North America. For more information, please visit: http://www.caasauto.com.

Forward Looking Statements
This press release contains statements that are "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. These forward-looking statements include statements regarding the qualitative and quantitative effects of the accounting errors, the periods involved, the nature of the Company's review and any anticipated conclusions of the Company or its management and other statements that are not historical facts. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. As a result, the Company's actual results could differ materially from those contained in these forward-looking statements due to a number of factors, including those described under the heading "Risk Factors" in the Company's Form 10-K annual report filed with the Securities and Exchange Commission on June 28, 2011, and in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. We expressly disclaim any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise.

 
 

 
 
For further information, please contact:
 
Jie Li
Chief Financial Officer
China Automotive Systems, Inc.
Email: jieli@chl.com.cn
 
Kevin Theiss
Investor Relations
Grayling
Tel:   +1-646-284-9409
Email: kevin.theiss@grayling.com