tradermrh
12 years ago
Notice of Delisting or Failure to Satisfy a Continued Listing Rule o
Sept. 1, 2012
ITEM 3.01. NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING.
As previously disclosed in a current report on Form 8-K, filed with the Securities and Exchange Commission ("SEC") on July 13, 2012, BDO China Shu Lun Pan CPAS LLP informed China Valves Technology, Inc. (the "Company") of its decision to resign as the Company's independent registered public accounting firm, effective July 9, 2012. As a result, the Company does not anticipate that it will be able to file the quarterly report on Form 10-Q for the fiscal quarter ended June 30, 2012 (the "Form 10-Q") timely in accordance with the Securities Exchange Act of 1934. On August 24, 2012, the Company was informed by the staff of NASDAQ Stock Market that it is not in compliance with the NASDAQ Listing Rule 5250(c)(1) for its failure to file the Form 10-Q. In addition, on August 30, 2012, two independent directors notified the Company's Board of Directors that they resigned as the Company's directors, effective immediately. As a result of the resignation of the two directors, the Company is not currently in compliance with Listing Rules 5605(b)(1) and 5605(c)(2)(A) of the NASDAQ Stock Market LLC.
On September 11, 2012, the Board of Directors of the Company determined that it is in the best interest of the Company to voluntarily delist the Company's common stock from the NASDAQ Global Market. In connection therewith, the Company notified The NASDAQ Stock Market on September 11, 2012 of the Company's intention to file a Form 25, Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934, with the SEC on or about September 21, 2012.
It is expected that the delisting will take effect on or about October 1, 2012 and the Company's common stock will become eligible for trading on the over-the-counter market thereafter. The Company will continue to be subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, and intends to continue to file all periodic and other reports with the SEC as required under applicable federal securities laws.
Soapy Bubbles
13 years ago
China Valves Technology's Subsidiary Receives an Award for Top 10 Technological Innovative Enterprise in Henan Province
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China Valves Technology, Inc. (MM) (NASDAQ:CVVT)
Intraday Stock Chart
Today : Tuesday 16 August 2011
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China Valves Technology, Inc. (NASDAQ: CVVT) ("China Valves" or the "Company"), a leading Chinese metal valve manufacturer, today announced that Zhengzhou City ZD Valve Co, Ltd. ("ZD Valve"), one of the Company's subsidiaries, received an award for Top 10 Technological Innovative Enterprise in Henan Province from the Association of Technological Innovation of Henan Province, the Academy of Sciences of Henan Province and the Academy of Agricultural Sciences of Henan Province.
"We are pleased to receive this award from the provincial government, which reflected our contribution to Henan Province as a leading innovative enterprise," said Mr. Jianbao Wang, Chief Executive Officer of China Valves. "Through a passionate commitment to excellence and a disciplined management process, we will create our own sustained competitive advantage in the current dynamic market."
Soapy Bubbles
13 years ago
China Valves Technology Ranks Among China's Top 500 Machinery Manufacturers in 2011
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China Valves Technology, Inc. (MM) (NASDAQ:CVVT)
Intraday Stock Chart
Today : Tuesday 2 August 2011
Click Here for more China Valves Technology, Inc. (MM) Charts.
China Valves Technology, Inc. (NASDAQ: CVVT) ("China Valves" or the "Company"), a leading Chinese metal valve manufacturer, today announced that Henan Tonghai Fluid Equipment Co., Ltd. ("Henan Tonghai Fluid"), China Valve's PRC holding company, has been named one of China's Top 500 Machinery Manufacturers in 2011 by the China Machinery Enterprise Management Association ("CMMA").
The ranking evaluates the Company's brand, products and financial performance, among other factors.
"We are pleased to qualify on this prestigious list for the third consecutive year, further reflecting our leadership position in China's valve industry. We qualified among China's Top 500 Machinery Manufacturers in 2009 and 2010 also," said Mr. Jianbao Wang, Chief Executive Officer of China Valves. "We are encouraged by this recognition and will continue to work hard to create long-term value for our shareholders."
About China Machinery Enterprise Management Association
China Machinery Enterprise Management Association (CMMA) is founded in 1984. It is a national non-profit industrial mass organization composed voluntarily by enterprises, institutions, colleges, management social societies and managing staffs of the machinery industry. CMMA is sponsored by the State Asset Supervision & Administration Commission and its mandated China Machinery Industry Federation, instructed and supervised by Ministry of Civil Affairs, the state registration authority of mass organizations.
About China Valves Technology, Inc.
China Valves Technology, Inc. through its subsidiaries, Zhengzhou City ZD Valve Co, Ltd., Henan Kaifeng High Pressure Valve Co., Ltd., Tai Zhou Taide Valve Co., Ltd., Yangzhou Rock Valve Lock Technology Co., Ltd., China Valve Technology (Changsha) Valve Co., Ltd. and Shanghai Pudong Hanwei Valve Co., Ltd., is engaged in the development, manufacturing and sale of high-quality metal valves for the electricity, petroleum, chemical, water, gas and metallurgy industries. The Company has one of the best known brand names in China's valve industry, and its history can be traced back to 1959 when it was formed as a state-owned enterprise. The Company develops valve products through extensive research and development and owns a number of patents. It enjoys significant domestic market share and exports to Asia and Europe. For more information, visit http://www.cvalve.com
Safe Harbor Statements
Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors include, but are not limited to, the Company's ability to develop and market new products, the ability to access capital for expansion, the ability to acquire other companies, changes from anticipated levels of sales, changes in national or regional economic and competitive conditions, changes in relationships with customers, changes in principal product profits and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to update or revise to the public any forward-looking statements, whether as a result of new information, future events or otherwise. This press release was developed by China Valves, and is intended solely for informational purposes and is not to be construed as an offer or solicitation of an offer to buy or sell the Company's stock. This press release is based upon information available to the public, as well as other information from sources which management believes to be reliable, but it is not guaranteed by China Valves to be accurate, nor does China Valves purport it to be complete. Opinions expressed herein are those of management as of the date of publication and are subject to change without notice.
China Valves Technology, Inc.
Gang Wei, CFO
Tel: +86-371-8601-8777
E-mail: ir@cvalve.com
http://www.cvalve.com
CCG Investor Relations
Linda Salo, Account Manager
Tel: +1 646-922-0894
E-mail: linda.salo@ccgir.com
Crocker Coulson, President
Tel: +1 646-213-1915
E-mail: crocker.coulson@ccgir.com
http://www.ccgirasia.com
SOURCE China Valves Technology, Inc.
Soapy Bubbles
13 years ago
China Valves Technology, Inc. (NASDAQ: CVVT) ("China Valves" or the "Company"), a leading Chinese metal valve manufacturer, today announced that one of the Company's subsidiaries, Henan Kaifeng High Pressure Valve Co., Ltd. ("Kaifeng Valve"), received two purchase orders from China Guangdong Nuclear Power Group ("CGNPG") for gate valves, check valves and globe valves worth $2.0 million in total.
State-owned CGNPG is one of China's two leading companies engaged in nuclear power development and operations. The nuclear forged steel valves covered by the first purchase order will be used for CGNPG's projects at the Hongyanhe nuclear power station in Liaoning province and Ningde nuclear power station in Fujian province. Kaifeng Valve expects to deliver the products for the first purchase order in batches until 2012.
China Valves signed the contract for the second purchase order with its partner Shanghai Electric, the contractor of CGNPG. The valves under this contract are intended for CGNPG's Yangjiang nuclear power station in Guangdong province'. Kaifeng Valve expects to deliver these products in August 2011.
"These two orders reflect our strong strategic partnership with CGNPG and Shanghai Electric," said Jianbao Wang, Chief Executive Officer of China Valves. "While China is still in the process of testing its nuclear plants under construction and emphasizing heightened safety requirements following the nuclear disaster in Japan earlier this year, China's voracious appetite for energy indicates that nuclear power is still likely to be an important part of China's energy solution in the future."
kajulie
13 years ago
News: China Valves Technology Signs Supply Agreements with Five Demonstration Projects for Ultra-Supercritical Thermal Power Plants PR Newswire "Press Releases US - English"
ZHENGZHOU, China , June 2, 2011 /PRNewswire-Asia-FirstCall/ -- China Valves Technology, Inc. (NASDAQ: CVVT) (" China Valves " or the "Company"), a leading Chinese metal valve manufacturer, today announced that with guidance and coordination from The Bureau of National Energy of China , the Company's subsidiary Henan Kaifeng High Pressure Valve Co., Ltd. ("Kaifeng Valve") has signed research and development agreements with another four demonstration projects, Jiangshu Jurong Power Plant, Chongqing Shuanghuai Power Plant, Henan Sanmenxia Power Plant and Jiaozhou Longyuan Power Plants, to supply main stream valves, hydraulic inlet/outlet three-way valves, extraction check valves, and turbine vacuum butterflyvalves for use in 1,000 MW ultra-supercritical power plants.
As disclosed previously, Kaifeng Valve has been approved by the State Council as a key provider for the localization of high-performance valves for thermal power plants. Currently, there are 11 research projects for ultra-supercritical valves to be localized or manufactured by local companies for thermal power plants, of which Kaifeng Valve has undertaken seven of them.
"These new agreements highlight Kaifeng Valves' technological innovation and key position in China 's thermal power valve market. Building upon our success with Nantong Power Plant earlier this year, we continue to make progress in our efforts to replace imported valves in ultra-supercritical thermal power plants with domestic products," said Jianbao Wang , Chief Executive Officer of China Valves . "These four plants, together with Nantong Power Plant, are all key leading plants for the localization of key components. We expect to supply approximately $50 million of high end valves to these five plants over the next two years. We remain confident in achieving our revenue growth and gross margin projections"
About China Valves Technology, Inc.
China Valves Technology, Inc. through its subsidiaries, Zhengzhou City ZD Valve Co, Ltd. , Henan Kaifeng High Pressure Valve Co., Ltd. , Tai Zhou Taide Valve Co., Ltd. , Yangzhou Rock Valve Lock Technology Co., Ltd. , China Valve Technology ( Changsha ) Valve Co., Ltd. and Shanghai Pudong Hanwei Valve Co., Ltd. , is engaged in the development, manufacturing and sale of high-quality metal valves for the electricity, petroleum, chemical, water, gas and metallurgy industries. The Company has one of the best known brand names in China 's valve industry, and its history can be traced back to 1959 when it was formed as a state-owned enterprise. The Company develops valve products through extensive research and development and owns a number of patents. It enjoys significant domestic market share and exports to Asia and Europe . For more information, visit http://www.cvalve.com
Safe Harbor Statements
Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors include, but are not limited to, the Company's ability to develop and market new products, the ability to access capital for expansion, the ability to acquire other companies, changes from anticipated levels of sales, changes in national or regional economic and competitive conditions, changes in relationships with customers, changes in principal product profits and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to update or revise to the public any forward-looking statements, whether as a result of new information, future events or otherwise. This press release was developed by China Valves , and is intended solely for informational purposes and is not to be construed as an offer or solicitation of an offer to buy or sell the Company's stock. This press release is based upon information available to the public, as well as other information from sources which management believes to be reliable, but it is not guaranteed by China Valves to be accurate, nor does China Valves purport it to be complete. Opinions expressed herein are those of management as of the date of publication and are subject to change without notice.
China Valves Technology, Inc.
Gang Wei, CFO
Tel: +86-371-8601-8777
E-mail: ir@cvalve.com
http://www.cvalve.com
CCG Investor Relations
Linda Salo, Account Manager
Tel: +1 646-922-0894
E-mail: linda.salo@ccgir.com
Crocker Coulson, President
Tel: +1 646-213-1915
E-mail: crocker.coulson@ccgir.com
http://www.ccgirasia.com
SOURCE China Valves Technology, Inc.
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