NEW YORK, July 30, 2015 (GLOBE NEWSWIRE) -- Kirin International Holdings Inc. (OTCBB:KIRI) (the "Company"), a non-state-owned real estate development company focused on residential and commercial real estate development in "tier-three" cities in the People's Republic of China, today announced the Company has submitted an initial listing application to the NASDAQ Stock Market to have its common stock approved for listing on the NASDAQ Capital Market. The NASDAQ Stock Market is an American stock exchange which is the second-largest exchange in the world by market capitalization.
Jianfeng Guo, Chief Executive Officer, President and Director of the Company, stated, "Having elected two independent directors to serve on our board and after tax net income expected to reach US$10.00 million in 2015, we are moving forward to uplist on a major international stock exchange in order to provide our current and prospective shareholders with the greater trading liquidity available on an international exchange. We submitted our application to NASDAQ in May 2015."
The Company cannot assure that the listing will be approved.
ABOUT KIRIN INTERNATIONAL HOLDING, INC.
Kirin is a Nevada corporation that operates through its wholly-owned subsidiary, Kirin China, a non-state-owned real estate development company focused on residential and commercial real estate development in "tier-three" cities in the People's Republic of China ("PRC"). Tier-three cities are provincial capital cities with ordinary economic development and prefecture cities with relatively strong economic development. Kirin China's projects are currently concentrated in Hebei Province of the PRC, primarily in the city of Xingtai, and nearby regions. Hebei Province is located in the North Region of the PRC. Kirin China intends to also focus on the Bohai Sea Surrounding Area, which comprises Beijing, Tianjin, Hebei Province, Liaoning Province and Shandong Province
FORWARD-LOOKING STATEMENTS
This release contains "forward-looking statements" under the federal securities laws. Forward-looking statements, which contain words such as "expect," "intend, "believe," or "plan," by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause actual future events to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.