Friday, January 26, 2007
Update - Nasdaq Listing (HRBN)
http://biz.yahoo.com/prnews/070126/cnf009.html?.v=17
Harbin Electric Announces Approval for Listing on NASDAQ Global MarketFriday January 26, 8:30 am ET
HARBIN, China, Jan. 26 /Xinhua-PRNewswire-FirstCall/ -- Harbin Electric, Inc. (OTC Bulletin Board: HRBN - News), announced today that its common stock has been approved for listing on the NASDAQ Stock Market. The Company expects to commence trading on the NASDAQ Global Market on Wednesday, January 31, 2007 under the ticker symbol "HRBN." Until that time, the Company's shares will continue trading on the OTC Bulletin Board. The NASDAQ Global Market, formerly the NASDAQ National Market, includes approximately 1,450 companies.
"We are proud to meet the strict requirements for listing on the NASDAQ Global Market, which reflects the significant progress we have achieved in growing our business and delivering strong financial results," commented Tianfu Yang, Chairman and CEO of Harbin Electric Inc. "We believe that a listing on NASDAQ will increase our visibility, strengthen our shareholder base and enhance shareholder value."
Mr. Yang continued, "2007 will be a year in which Harbin Electric penetrates new markets, develops new products, and continues to gain share within current customers while continuing our expansion into the international marketplace. Achieving a NASDAQ listing was a major goal for us during the first half of 2007 and we are excited to have accomplished this early in the year. I would like to express my appreciation to our Board of Directors, experienced management team and dedicated employees for this significant corporate achievement."
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