HUIZHOU, Guangdong, China, June
15 /PRNewswire-Asia-FirstCall/ -- Qiao Xing Universal
Resources, Inc. (Nasdaq: XING) (the "Company" or "XING"), an
emerging Chinese resources company headquartered in Huizhou, Guangdong
Province, today announced that Mr. Ruilin Wu, the Company's Chairman and Chief
Executive Officer,has purchased an additional 500,000 shares in the
open market, pursuant to the share purchase plan announced
June 9, 2010. So far, Mr. Wu has
purchased an aggregated 1,000,000 shares under this plan.
"This announcement illustrates our confidence in the long-term
growth of XING," said Mr. Wu. "In addition to pursuing our
resources driven growth strategies, we are also considering several
options to unlock shareholder value."
About Qiao Xing Universal Resources, Inc.
Qiao Xing Universal Resources, Inc. is an emerging Chinese
resources company headquartered in Huizhou, Guangdong
Province, China. The
Company was previously one of the leading players of
telecommunication terminal products in China, but made the strategic decision to
diversify into the resources industry in 2007. In April 2009, the Company acquired the 100% equity
interest in China Luxuriance Jade
Company, Ltd ("CLJC"). CLJC, through its wholly owned Chinese
subsidiaries, owns the rights to receive the expected residual
returns from Chifeng Haozhou Mining Co., Ltd. ("Haozhou Mining"), a
large copper-molybdenum poly-metallic mining company in Inner
Mongolia, China. Since then, the
Company has further refined its strategy to become a pure resources
company and is actively seeking additional acquisition targets in
the resources industry.
Safe Harbor Statement
This announcement contains forward-looking statements, as
defined in the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. In some cases, these
forward-looking statements can be identified by words or phrases
such as "aim," "anticipate," "believe," "continue," "estimate,"
"expect," "intend," "is /are likely to," "may," "plan,"
"potential," "will" or other similar expressions. Statements that
are not historical facts, including statements about Qiao Xing
Universal Resources, Inc.'s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement. Information regarding these factors is
included in our filings with the Securities and Exchange
Commission. Qiao Xing Universal Resources, Inc. does not undertake
any obligation to update any forward-looking statement, except as
required under applicable law. All information provided in this
press release is as of June 15,
2010.
Company Contact:
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Mr. Rick Xiao, Vice President
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Email: rick@qiaoxing.com
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Tel: +86-752-282-0268
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CCG Investor Relations Contact:
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Mr. Ed Job, Account Manager
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Email: ed.job@ccgir.com
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Tel: +1-646-213-1914 (NY office)
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SOURCE Qiao Xing Universal Resources, Inc.