Yangtze River Port and Logistics Limited Refutes Hindenburg Research's Report
December 07 2018 - 9:31AM
InvestorsHub NewsWire
NEW YORK, NY -- December 07, 2018 -- InvestorsHub NewsWire --
Yangtze River Port and Logistics Limited (Nasdaq: YRIV) (the
“Company”), an international infrastructure company that engages in
the business of real estate development via a port logistic project
located in the middle reaches of China’s Yangtze River in Wuhan,
China, today categorically refutes all the allegations made against
the Company in Hindenburg Research’s report dated December 6, 2018
(the “Report”).
“The Report contains numerous errors of facts and misleading
speculations that are libelous and we categorically deny such
speculations. This Report is largely a rehash of prior allegations
made against us around August 2018, which have since been proven to
be false and misleading. We have not granted access to Hindenburg
Research nor has Hindenberg Research ever contacted us to seek any
clarification or explanation to the allegations made. These
speculations have caused significant damage to our Company and we
are resolved to take such actions necessary to defend ourselves and
protect the interests of our shareholders. Additionally, we have
instructed counsel and are working with the Nasdaq to explore our
recourse against Hindenburg Research for making such irresponsible,
baseless and libelous statements, including but not limited to
instituting legal proceedings against them. We are committed to a
high level of corporate governance and stand by the integrity of
our financial statements and business operations,” said Mr.
Xiangyao Liu, Chairman and Chief Executive Officer of the
Company.
About Yangtze River Port and Logistics Limited
Yangtze River Port and Logistics Limited primarily engages in
the business of real estate development with a port logistic
project located in the middle reaches of the Yangtze River. Yangtze
River Port and Limited is a large infrastructure development
project implemented under China's latest “One Belt One Road”
initiative and is believed to be strategically positioned in Wuhan,
a crucial trading window between China, the Middle East and Europe.
The logistics center is also expected to provide a number of
shipping berths for cargo ships of various sizes. Yangtze River
Port and Limited is expected to provide domestic and foreign
businesses a direct access to the Free Trade Zone in Wuhan. The
project will include commercial buildings, professional logistic
supply chain centers, direct access to the Yangtze River,
Wuhan-Xinjiang-Europe Railway and ground transportation, storage
and processing centers, IT supporting services, among others.
For additional information please go
to: http://www.yerr.com.cn
Forward-Looking Statements:
This document includes “forward-looking” statements, as that
term is defined in the Private Securities Litigation Reform Act of
1995 or by the Securities and Exchange Commission in its rules,
regulations and releases. Forward-looking statements are any
statements other than statements of historical fact, including
statements regarding Company's expectations, beliefs, hopes,
intentions or strategies regarding the future. Among other things,
these forward-looking statements may include statements regarding
the change of Company's plan of operation, future opportunities as
a result of the matter referenced in the above statements; and any
other statements regarding Company's future beliefs, expectations,
plans, intentions, financial condition or performance. In some
cases, forward-looking statements can be identified by the use of
words such as “may,” “will,” “expects,” “should,” “believes,”
“plans,” “anticipates,” “estimates,” “predicts,” “potential,”
“continue,” or other words of similar meaning. Forward-looking
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those discussed in, or
implied by, the forward-looking statements. Factors that might
cause such a difference include, but are not limited to, general
economic conditions, our financial and business prospects, our
capital requirements, our financing prospects, our relationships
with employees, and our ability to realize the anticipated benefits
of such transaction, and those disclosed as risks in other reports
filed by us with the Securities and Exchange Commission, including
those described in our most recently filed Quarterly Report on Form
10-Q, Annual Report on Form 10-K and subsequent amendment on Form
10-K/A, current report on Form 8-K, and other filings with the
SEC.
We caution readers that any such statements are based on
currently available operational, financial and competitive
information, and they should not place undue reliance on these
forward-looking statements, which reflect management's opinion only
as of the date on which they were made. Except as required by law,
we disclaim any obligation to review or update these
forward-looking statements to reflect events or circumstances as
they occur.
CONTACT: James Coleman Executive Director jcoleman@yerr.com.cn 646-861-3315
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