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Yangtze River Port and Logistics Limited Refutes Hindenburg Research’s Report
NEW YORK, NY, Dec. 07, 2018 (GLOBE NEWSWIRE) -- via
NEWMEDIAWIRE -- 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
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 email@example.com 646-861-3315
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