Wenzhou's private enterprise "Rui Li" listed on the Nasdaq Main Board

At 9:30 a.m. on April 18, U.S. time, Ruili Group's SORL stock officially transitioned from the OTCBB to the Nasdaq Main Board, marking the end of its 22-month journey on the over-the-counter market. This milestone marked a significant step forward for the Chinese auto parts company, which had long aimed to establish itself as a credible player in the global financial landscape. Chairman Zhang Xiaoping humorously remarked, “Finally, I’ve moved from being a probationary party member to a full-time one on Nasdaq.” The transition was not just symbolic—it brought real benefits. For years, Ruili had been listed on the OTCBB under the ticker "SAUP.OB," but trading volume remained low, with only about 5% of shares actively traded. Many institutional investors were unable to participate due to Nasdaq’s stricter regulations on the OTCBB. The decision to go public in the U.S. was part of a broader strategy to access international capital and expand the company’s global footprint. In 2005, Ruili submitted an application to move to the Nasdaq Main Board. After a thorough review, the company was approved, and on April 18, it officially began trading under the new symbol "SORL." This move significantly boosted liquidity and visibility. Institutional investors could now freely trade the stock, increasing investor confidence and market value. The rebranding also enhanced the company’s image, making it more recognizable in the U.S. market. According to recent reports, the share price of SORL rose from over $4 to nearly $9 after the announcement, pushing the company’s market cap to around $130 million. With the Zhang brothers holding a combined 74.9% stake, their personal wealth has surged to over $97 million based on current valuations. In the coming months, Ruili plans to raise $30 million to build a 361-acre export production base in Rui’an, expand manufacturing capacity, and invest more in research and development. This move is expected to further solidify its position in the global auto parts industry. As of 2005, there were fewer than 10 Chinese-backed companies listed on the U.S. OTC or Pink Sheets that successfully transitioned to the Nasdaq or NYSE Main Board. Ruili became the second company from Zhejiang Province to achieve this feat, highlighting its growing influence in the global market. Ruili Group, originally based in Wenzhou, is a leading private enterprise specializing in automotive components. It serves major domestic automakers like FAW, Dongfeng, and SAIC, while also expanding into international markets with offices in the U.S., Middle East, and Dubai. Its products are used by car manufacturers across Europe, North America, and Japan, and it is steadily integrating into the global supply chain.

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