HUIZHOU, China, Jan. 14, 2011 /PRNewswire-Asia-FirstCall/ --
This press release is issued for information purposes only and
does not constitute an offer to sell or the solicitation of an
offer to subscribe for or buy any security, nor is it a
solicitation of any vote or approval in any jurisdiction, nor shall
there be any sale, issuance or transfer of the securities referred
to in this press release in any jurisdiction in contravention of
applicable law.
Neither the U. S. Securities and Exchange Commission nor any
state securities commission has approved or disapproved of the
Proposed Offer (defined below) or securities to be issued in
connection therewith, or passed upon the adequacy or accuracy of
this press release, or the merits or fairness of the Proposed
Offer. Any representation to the contrary is a criminal
offense.
Qiao Xing Universal Resources, Inc. (Nasdaq: XING, the "Company"
or "XING"), one of the leading players in the molybdenum-mining
business with meaningful size in the resources industry,
today announced the launch of its new website, which can be found
at http://www.cosun-xing.com/.
The new site reflects the Company's focus on the
molybdenum-mining business as well as its growing scale in the
resources industry. The new site provides a comprehensive overview
of XING's resources operations, as well as an extensive gallery of
photos of its molybdenum and lead-zinc-copper mining operating
businesses. In addition, the new site provides the most up-to-date
corporate profile and investor presentation as well as a dedicated
section focused on the newly acquired Aolunhua Copper-molybdenum
Mine, one of the largest open-pit molybdenum mines in Asia.
"We are excited to launch our new website which has been
designed to better serve investors, customers, shareholders and the
public," commented Mr. Ruilin Wu,
the Company's Chairman and Chief Executive Officer. "The new
website outlines the progress we have made in the execution of our
strategy to grow our resources business, and it reflects our
commitment to increasing corporate transparency and to creating
long-term value for all our stakeholders."
About Qiao Xing Universal Resources, Inc.
Qiao Xing Universal Resources, Inc. is a leading player in the
molybdenum-mining industry with meaningful size in the resources
industry. XING focuses on mining and processing rare metal ores and
several strategically important base-metal ores, including
molybdenum, copper, lead and zinc. The Company currently owns a
100% equity interest in Balinzuo Banner Xinyuan Mining Co., Ltd.
and a 34.53% equity interest in Chifeng Aolunhua Mining Co., Ltd,
as well as the right to receive 100% of the expected economic
residual returns from Chifeng Haozhou Mining Co., Ltd.
XING was one of the first Chinese companies to be listed on
NASDAQ (in 1999) as one of the leading players in the
telecommunication-terminal product business in China. In 2007, the Company made the strategic
decision to diversify into the resources industry. Since then, the
Company has made several acquisitions in the resources industry and
divested its fixed-line and budget mobile phone businesses.
To reflect this change, the Company changed its corporate
name to Qiao Xing Universal Resources, Inc., effective January 28, 2010.
The Company continues to evaluate acquisition opportunities in
the resources area to strengthen its foothold in the industry. At
the same time, XING is also working to divest its remaining
mobile-phone business through the proposed privatization of its QXM
subsidiary, or via other alternatives, to become a pure-play
resources company.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties. These include statements about our
expectations, plans, objectives, assumptions, performance or future
events. In some cases, you can identify forward-looking statements
by terminology such as "anticipate," "estimate," "plans,"
"potential," "projects," "continuing," "ongoing," "expects,"
"management believes," "we believe," "we intend" and similar
expressions. These statements involve estimates, assumptions and
uncertainties that could cause actual results to differ materially
from those expressed. You should not place undue reliance on these
forward-looking statements.
Forward-looking statements include all statements other than
statements of historical facts, such as statements regarding
anticipated acquisitions, estimates of revenue and profit, the
privatization of QXM, anticipated mining capacity and production
volumes, long-term growth prospects for the resources industry, the
Company and value for the Company's shareholders, mine development
and capital expenditures, mine production and development plans,
estimates of proven and probable reserves and other mineralized
material, expectations with respect to supply and demand for
mineral resources and the Company's transition to a pure resources
company and bigger player within the resources industry. Readers
are cautioned that forward-looking statements are not guarantees of
future performance and actual results may differ materially from
those projected, anticipated or assumed in the 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 U.S. Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statements. All information provided in this press
release is as of January 14, 2011.
Additional Information and Where to Find It
Qiao Xing Universal Resources, Inc. has filed a Schedule 13E-3
with the SEC in connection with its proposed offer to acquire all
of the outstanding shares of Qiao Xing Mobile Communication Co.,
Ltd not currently owned by it by way of a Scheme of Arrangement
(the "Proposed Offer"). The Schedule 13E-3 contains additional
information regarding the Proposed Offer, including, without
limitation, information regarding the special meeting of
shareholders of Qiao Xing Mobile Communication Co., Ltd that will
be called to consider the Proposed Offer. The Schedule 13E-3
contains important information about Qiao Xing Universal Resources,
Inc., Qiao Xing Mobile Communication Co., Ltd, the Proposed Offer
and related matters. Investors and shareholders should read the
Schedule 13E-3 and the other documents filed with the SEC in
connection with the Proposed Offer carefully before they make any
decision with respect to the Proposed Offer. A copy of the Scheme
of Arrangement with respect to the Proposed Offer is an exhibit to
the Schedule 13E-3. The Proposed Offer is expected to be exempt
from the registration requirements of the United States Securities
Act of 1933 Act by virtue of the exemption provided by Section
3(a)(10); however, it is possible that the offer may change forms
such that the exemption provided by Section 3(a)(10) may no longer
be available. In such a case Qiao Xing Universal Resources, Inc.
may file a Form F-4 with respect to the Proposed Offer.
The Schedule 13E-3 and all other documents filed with the SEC in
connection with the Proposed Offer is available free of charge at
the SEC's web site at www.sec.gov. Additionally, the Schedule 13E-3
and all other documents filed with the SEC in connection with the
Proposed Offer will be made available to investors or shareholders
free of charge by calling or writing to:
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Qiao Xing Universal
Resources
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Rick Xiao
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Vice President
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Phone:
+86-752-282-0268
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Email:
rick@qiaoxing.com
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USA IR AGENCY
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CCG Investor Relations
Inc.
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Mr. Ed Job, CFA
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Phone: +86-1381-699-7314
(Shanghai)
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Email:
ed.job@ccgir.com
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Filing under Rule 425
under
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the Securities Act of
1933
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Filing by: Qiao Xing
Universal Resources, Inc.
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Subject Company: Qiao Xing
Mobile Communication Co., Ltd
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SEC File No. of Qiao Xing
Mobile Communication Co., Ltd: 001-33430
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SOURCE Qiao Xing Universal Resources, Inc.