SORL Auto Parts, Inc. [[SORL]], a leading manufacturer and distributor of commercial vehicle air brake valves as well as related auto parts in China, announced today that it plans to release its financial results for the second quarter ended June 30, 2009 on August 13, 2009, before the market opens.
Analysts are expecting earnings of $0.17 per share on revenues of $35.89 million, compared to earnings of $0.13 last quarter and sales of $30.66 million a year ago. Meanwhile, two analysts hold a BUY rating on the stock with a target price of around $10 per share.
As China’s leading manufacturer and distributor of automotive air brake valves, SORL Auto Parts, Inc. ranks first in market share in the segment for commercial vehicles weighing more than three tons, such as trucks and buses. The Company distributes products both within China and internationally under the SORL trademark. SORL ranks among the top 100 auto component suppliers in China, with a product range that includes 40 types of air brake valves and over 1000 different specifications.
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