SmartHeat Inc. Approved for Listing on the NASDAQ Stock Market, New Stock Symbol HEAT - Effective Thursday, January 29, 2009
Tuesday January 27, 6:55 am ET
NEW YORK, Jan. 27 /PRNewswire-Asia/ -- SmartHeat Inc. (OTC Bulletin Board: SMHT.OB; http://www.smartheatinc.com/ ), a market leader in China's green technology, environmentally friendly heat energy savings industry, today announced that the Company has been approved for listing on the NASDAQ Stock Market under new stock symbol: HEAT.
SmartHeat anticipates trading on the NASDAQ to begin on Thursday, January 29, 2009.
James Wang, Chief Executive Officer of SmartHeat, commented: "Listing on the NASDAQ is a significant milestone for SmartHeat in our corporate history. We are pleased to have satisfied NASDAQ's extensive and strict listing requirements. SmartHeat appreciates the professionalism and dedication from our staff and advisors whom have so diligently helped build this great company into a continuing success. As SmartHeat rapidly expands sales and distribution channels in the current favorable market environment in our industry in China, we look forward to another year of record sales and earnings growth in 2009."
About SmartHeat Inc.
SmartHeat Inc. (www.smartheatinc.com) is a US company with its primary operations in China. SmartHeat is a market leader in China's green technology heat energy savings industry. SmartHeat manufactures standard plate heat exchangers and custom plate heat exchanger units -- technology that helps to capture and recycle waste heat thus reducing fossil fuel related costs and pollution. SmartHeat's products and technology have broad applications. SmartHeat's customers include global Fortune 500 companies as well as municipalities and industrial/residential users. China's heat transfer market is currently estimated at approximately $2.4 billion with double-digit annual growth according to China Heating Association.
Safe Harbor Statement
All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. SmartHeat's actual results may differ from its projections. Further, preliminary results are subject to normal year-end adjustments. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect SmartHeat's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in SmartHeat's filings with the Securities and Exchange Commission.