Yangtze River Port and Logistics Limited Refutes Hindenburg Research’s Report
December 07 2018 - 8:30AM
via NEWMEDIAWIRE -- Yangtze River Port and Logistics Limited
(Nasdaq: YRIV) (the “Company”), an international infrastructure
company that engages in the business of real estate development via
a port logistic project located in the middle reaches of China’s
Yangtze River in Wuhan, China, today categorically refutes all the
allegations made against the Company in Hindenburg Research’s
report dated December 6, 2018 (the “Report”).
“The Report contains numerous errors of facts and
misleading speculations that are libelous and we categorically deny
such speculations. This Report is largely a rehash of prior
allegations made against us around August 2018, which have since
been proven to be false and misleading. We have not granted access
to Hindenburg Research nor has Hindenberg Research ever contacted
us to seek any clarification or explanation to the allegations
made. These speculations have caused significant damage to our
Company and we are resolved to take such actions necessary to
defend ourselves and protect the interests of our shareholders.
Additionally, we have instructed counsel and are working with the
Nasdaq to explore our recourse against Hindenburg Research for
making such irresponsible, baseless and libelous statements,
including but not limited to instituting legal proceedings against
them. We are committed to a high level of corporate governance and
stand by the integrity of our financial statements and business
operations,” said Mr. Xiangyao Liu, Chairman and Chief Executive
Officer of the Company.
About Yangtze River Port and Logistics Limited
Yangtze River Port and Logistics Limited primarily
engages in the business of real estate development with a port
logistic project located in the middle reaches of the Yangtze
River. Yangtze River Port and Limited is a large infrastructure
development project implemented under China's latest “One Belt One
Road” initiative and is believed to be strategically positioned in
Wuhan, a crucial trading window between China, the Middle East and
Europe. The logistics center is also expected to provide a number
of shipping berths for cargo ships of various sizes. Yangtze River
Port and Limited is expected to provide domestic and foreign
businesses a direct access to the Free Trade Zone in Wuhan. The
project will include commercial buildings, professional logistic
supply chain centers, direct access to the Yangtze River,
Wuhan-Xinjiang-Europe Railway and ground transportation, storage
and processing centers, IT supporting services, among others.
For additional information please go
to: http://www.yerr.com.cn
Forward-Looking Statements:
This document includes “forward-looking”
statements, as that term is defined in the Private Securities
Litigation Reform Act of 1995 or by the Securities and Exchange
Commission in its rules, regulations and releases. Forward-looking
statements are any statements other than statements of historical
fact, including statements regarding Company's expectations,
beliefs, hopes, intentions or strategies regarding the future.
Among other things, these forward-looking statements may include
statements regarding the change of Company's plan of operation,
future opportunities as a result of the matter referenced in the
above statements; and any other statements regarding Company's
future beliefs, expectations, plans, intentions, financial
condition or performance. In some cases, forward-looking statements
can be identified by the use of words such as “may,” “will,”
“expects,” “should,” “believes,” “plans,” “anticipates,”
“estimates,” “predicts,” “potential,” “continue,” or other words of
similar meaning. Forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ
materially from those discussed in, or implied by, the
forward-looking statements. Factors that might cause such a
difference include, but are not limited to, general economic
conditions, our financial and business prospects, our capital
requirements, our financing prospects, our relationships with
employees, and our ability to realize the anticipated benefits of
such transaction, and those disclosed as risks in other reports
filed by us with the Securities and Exchange Commission, including
those described in our most recently filed Quarterly Report on Form
10-Q, Annual Report on Form 10-K and subsequent amendment on Form
10-K/A, current report on Form 8-K, and other filings with the
SEC.
We caution readers that any such statements are
based on currently available operational, financial and competitive
information, and they should not place undue reliance on these
forward-looking statements, which reflect management's opinion only
as of the date on which they were made. Except as required by law,
we disclaim any obligation to review or update these
forward-looking statements to reflect events or circumstances as
they occur.
CONTACT:
James Coleman
Executive Director
jcoleman@yerr.com.cn
646-861-3315
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