China Auto Logistics Inc., a Chinese importer of luxury automobiles, provider of one stop automobile logistics services and dealer financing, and operator of three of China’s leading automobile-related websites, announced this morning that the company’s common stock has been approved for listing on The NASDAQ Capital Market. According to the press release, the stock will commence trading at the open tomorrow with a new trading symbol: CALI.
Mr. Tong Shiping, CEO and President of the Company, commented, “We are extremely pleased to have received approval to list on NASDAQ for a variety of reasons. First, we believe NASDAQ is recognized worldwide as the leading exchange for young, growing companies. In turn, we believe this will greatly broaden our exposure to retail and institutional investors who also seek liquidity and the best execution and prices. Lastly, we believe it reflects well on our Company that we have been able to meet NASDAQ’s very stringent requirements with respect to financial strength and corporate governance and are very proud of this achievement.”