HANZHONG, China, Sept. 9 /PRNewswire-Asia-FirstCall/ -- China HGS
Real Estate Inc. (OTC Bulletin Board: CAHS) ("China HGS" or "the
Company"), a leading residential property developer in Hanzhong,
China, today announced that the
Company has received approval to list its common stock on The
NASDAQ Stock Market.
China HGS expects to begin trading on The NASDAQ Global Market
under the new stock symbol "HGSH" on Monday,
September 13, 2010, until which time its shares will
continue to trade on the Over-The-Counter Bulletin Board under the
symbol "CAHS".
"We are honored to be approved to list on The NASDAQ Global
Market, one of the world's most prestigious stock markets,"
commented Mr. Xiaojun Zhu, Chairman
and Chief Executive Officer of China HGS. "This is a significant
milestone for China HGS' growth as a U.S. public company. It
reflects our commitment to enhance our corporate governance and
increase shareholder value. We expect that our listing on the
NASDAQ Global Market will enhance our profile in the U.S. capital
markets, further expand our investor base and increase both our
liquidity and visibility in the investment community."
About China HGS Real Estate Inc.
China HGS Real Estate Inc., through its wholly-owned subsidiary,
Shaanxi Guangsha Investment and Development Group Co., Ltd.,
specializes in real estate development in China's second-tier and third-tier cities. The
Company's real estate properties include multi-layer,
sub-high-rise, and high-rise apartment buildings. The Company
possesses the national grade II real estate qualification and was
ranked as the No. 1 property developer in Hanzhong, Shaanxi Province in terms of market share in
2007 and 2008 successively.
Forward-looking Statements:
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995: Certain statements in this press release
constitute forward-looking statements for purposes of the safe
harbor provisions under The Private Securities Litigation Reform
Act of 1995. These statements include, without limitation,
statements regarding the company's perceived benefits on listing on
the NASDAQ. We have based these forward-looking statements largely
on our current expectations and projections about future events and
financial trends that we believe may affect our financial
condition, results of operations, business strategy and financial
needs but they involve risks and uncertainties that could cause
actual results to differ materially from those in the
forward-looking statements, which may include, but are not limited
to, such factors as unanticipated changes in demand especially in
the residential property market of tier II and tier III cities, the
Company's ability to secure financing for land use rights
acquisition and property development, meet the planned property
development schedule, reliance on third-party contractors, changes
in government regulations, risk of default by customers on the
Company guaranteed mortgage loans, increase in the cost of raw
materials, downturns in the Chinese economy, and other information
detailed from time to time in the Company's filings and future
filings with the United States Securities and Exchange Commission.
You are urged to consider these factors care in evaluating the
forward-looking statements herein and are cautioned not to place
undue reliance on such forward-looking statements, which are
qualified in their entirety by this cautionary statement. The
forward-looking statements made herein speak only as of the date of
this press release and the Company undertakes no duty to update any
forward-looking statement to conform the statement to actual
results or changes in the company's expectations.
For more information, please contact:
Company Contact:
Mr. Ran Xiong, Deputy GM
Phone: +86-916-2622612
Email: xr968@163.net
Investor Relations Contact:
Mr. Crocker Coulson, President
Phone: +1-646-213-1915 (NY office)
Email: crocker.coulson@ccgir.com
Elaine Ketchmere, Partner
Phone: +1-310-954-1345 (LA office)
Email: Elaine.ketchmere@ccgir.com
SOURCE China HGS Real Estate Inc.
Copyright t. 9 PR Newswire