Company Expects Trading to Begin on August 7 Under Ticker Symbol SIHI
SANTA CLARA, Calif. and SHENZHEN, China, Aug. 4 /PRNewswire-Asia/ -- SinoHub, Inc. (OTC Bulletin Board: SIHI) today announced that its common stock has been cleared for listing on the NYSE Amex Exchange. The company's common stock, which currently trades on the OTC Bulletin Board, is expected to begin trading on the NYSE Amex on August 7, 2009 under the ticker symbol SIHI.
"We are thrilled that our shares will trade on the NYSE Amex stock exchange and believe the move from the OTC marketplace will provide SinoHub with improved liquidity and expanded visibility in the investment community, as well as allow us to strengthen and grow our investor base," said Harry Cochran, chief executive officer of SinoHub.
"We believe SinoHub's unique supply chain management platform, based on our proprietary online software system, SinoHub SCM(TM), has the potential to revolutionize the supply chain for electronic components and assemblies in the second tier mobile phone sector of the Chinese electronics industry," Cochran said. "Based on the significant knowledge and expertise we've gained in the mobile phone market, we are now expanding our business into other verticals, most notably network equipment. Our customers sell 'have-to-have' products locally, into the most vibrant economy in the world, helping insulate SinoHub from global economic downturns. We see the NYSE Amex listing as a logical step so we can continue to grow and keep pace with our customers."
About SinoHub
SinoHub, Inc., founded in 2000 by veteran entrepreneur Harry Cochran and electronic component industry veteran Lei Xia to facilitate the electronics revolution in China, provides world-class supply chain management services with transparent information access for participants in the electronic components supply chain in China. SinoHub conducts substantially all of its operations through its wholly-owned subsidiary SinoHub Electronics Shenzhen Limited in the People's Republic of China. For more information, visit the company's Web site at http://www.sinohub.com .
About NYSE Amex
NYSE Amex, formed by NYSE Euronext's acquisition of the former American Stock Exchange last year, is the premiere U.S. equities market for listing and trading small and mid-cap growth companies. The NYSE Amex platform offers its listed companies price discovery, liquidity and reduced trading volatility beyond the capabilities of markets that are solely electronic. NYSE Amex-listed companies benefit from issuer-selected Designated Market Makers who utilize world-class NYSE trading and surveillance systems.
Cautionary Statement Regarding Forward-looking Information
Some of the statements contained in this press release that are not historical facts constitute forward-looking statements under the federal securities laws. You can identify forward-looking statements by the use of the words "may," "will," "should," "could," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "intends," "potential," "proposed," or "continue," or the negative of those terms. These statements involve risks known to us, significant uncertainties, and other factors, many of which we cannot predict with accuracy and some of which we might not even anticipate, which may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by those forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
Among the factors about which we have made assumptions are:
-- The timing, extent and duration of the expected benefits of moving
trading to the NYSE Amex;
-- That SinoHub SCM(TM) will in fact revolutionize the supply chain for
electronic components and assemblies in the second tier mobile phone
sector of the Chinese electronics industry;
-- That SinoHub will be successful in expanding into additional
verticals; and
-- That SinoHub's business in China will be insulated from global
economic downturns.
Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future. For further information on factors which could impact us and the statements contained herein, see the "Risk Factors" included in Item 1A of our Annual Report on Form 10-K. We assume no obligation to update and supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
For more information, please contact:
SinoHub, Inc.:
Falicia Cheng
Tel: +86-755-2661-1080
Email: falicia@sinohub.com
In the U.S.:
PondelWilkinson Inc.
Laurie Berman/Angie Yang
Tel: +1-310-279-5980
Email: investor@pondel.com
