SORL Lifts FY16 Guidance On High Demand For Braking Products - Quick Facts

(RTTNews) - SORL Auto Parts, Inc. (SORL), a Chinese manufacturer and distributor of automotive brake systems, announced Wednesday that it has increased guidance for the fiscal 2016 year to net sales of approximately $269 million from $255 million with net income attributable to common stockholders of approximately $15.4 million from $14.5 million.

The company said the upward revision in guidance is due to better-than-anticipated demand for braking products.

Jinrui Yu, SORL's Chief Operating Officer, said, "The automotive market in China continues to expand in the fourth quarter of 2016, especially demand for heavy- and medium-duty trucks which are key markets for our advanced braking products. Additionally, operating initiatives are increasing production efficiencies."