Tongxin International Ltd Tongxin International Ltd http://chinasecurities.com/ir/Tongxin en-US 09 Mar 2010 13:00:00 GMT 26 May 2013 03:04:00 GMT [Press Release] Tongxin International Ltd. to Present at the 22nd Annual ROTH Conference message_4950 09 Mar 2010 13:00:00 GMT http://chinasecurities.com/ir/Tongxin/messages/4950

CHANGSHA, China, March 9 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq:TXIC - News), a China-based manufacturer of engineered vehicle body structures ("EVBS" or "truck cabs") today announced it will present at the 22nd Annual Roth Capital Partners Conference held March 15-17 in Laguna Niguel, California. Presentation details are noted below.


    Date:      March 15, 2010
    Time:      8:00 AM PDT (Track 4)
    Location:  The Ritz Carlton, Laguna, Niguel
    Presenter: Mr. Rudy Wilson, Chairman and CEO
               Ms. Jackie Chang, CFO and CAO

Conference participation is by invitation and registration is mandatory. For more information on the conference, contact your ROTH representative or visit http://www.roth.com .

About Roth Capital Partners, LLC

ROTH Capital Partners is a full service investment banking firm dedicated to the small-cap public market. Since its inception in 1984, ROTH has been an innovator in this space. ROTH has participated in underwriting IPOs for small-cap companies, has helped develop the PIPE financing structure, and more recently in underwriting offerings from shelf registration statements. ROTH was one of the first U.S. investment banks to focus on financing small-cap Chinese companies, and established a Representative Office in Shanghai in 2007. ROTH's experience and capabilities in raising capital for public companies are the hallmarks of the firm. It has raised over $12.6 billion for public companies and completed approximately 160 merger, acquisition and advisory assignments. During 2009, ROTH assisted public companies in raising over $1.8 billion.

About Tongxin International Ltd.

Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments. The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin maintains a network of 130 customers throughout 20 provinces in China. Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.

FORWARD LOOKING STATEMENTS

Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.


    For more information, please contact:

    COMPANY:
     Mr. Rudy Wilson, CEO
     Tel:   +1-248-593-8330
     Email: rudy@txicint.com

     Ms. Jackie Chang, CFO
     Tel:   +1-626-660-7117
     China: +86-13467553808
     Email: jackie@txicint.com
     Web:   http://www.txicint.com

    INVESTOR RELATIONS:
     John Mattio, SVP
     HC International, Inc.
     Tel:   +1-203-616-5144 (U.S.)
     Email: john.mattio@hcinternational.net
     Web:   http://www.hcinternational.net

]]> [Press Release] Tongxin International Ltd. to Present at the 2010 Rodman & Renshaw message_4881 03 Mar 2010 12:47:00 GMT http://chinasecurities.com/ir/Tongxin/messages/4881 ....

]]> [Press Release] Tongxin Provides Preliminary 2009 Revenue Projections of $121 - $124 Million message_4744 23 Feb 2010 13:00:00 GMT http://chinasecurities.com/ir/Tongxin/messages/4744 CHANGSHA, China, Feb. 23 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq:TXIC - News), a China-based manufacturer of engineered vehicle body structures ("EVBS" or "truck cabs"), today announced preliminary unaudited revenue between $121 to $124 million for its fiscal year ended December 31, 2009 and is introducing guidance between $150 to $160 million in revenue for 2010. "We were pleased to report strong shipments took place during the fourth quarter of last year," opened Chairman and CEO, Mr. Rudy Wilson. "While the fourth quarter in 2008 was one of our most challenging, 2009 benefited by a rebound in the commercial vehicle market in China and Tongxin's s leading position therein. Complementing our domestic growth, we also witnessed increased year over-year-orders from our export market in South East Asia, namely Vietnam," Wilson confirmed.

Tongxin estimates fourth quarter revenues of $29.5 to $32.5 million, representing 33.5% to 47.1% increase in revenues versus the fourth quarter of 2008. Management expects to report 2009 revenues of between $121 and $124 million, representing 23.0% to 26.0% growth over 2008 revenues of $98.4 million. Tongxin previously released 2009 revenue guidance of $120.0 million and net income of $16.7 million.

2010 Revenue Guidance

Tongxin International is providing revenue guidance of $150 - $160 million for the fiscal year ended December 31, 2010. Guidance is based on anticipated orders and shipments of the Company's new medium and heavy-duty cab models, a further increase in market share, and incremental orders from international customers during 2010.

"Consistent with the continued growth of the commercial vehicle segment in China, we anticipate Tongxin to achieve growth of approximately 25% in 2010," began Duanxiang Zhang, CEO of Hunan Tongxin. "We have recovered completely from the 2008 downturn and we are set to report record results for 2009. Our 2010 growth targets are consistent with our Company's goal to outperform the overall Chinese commercial vehicle market's growth." Zhang concluded.

About Tongxin International Ltd.

Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments. The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin maintains a network of 130 customers throughout 20 provinces in China. Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.

FORWARD LOOKING STATEMENTS

Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

    For more information, please contact:

    COMPANY:
     Mr. Rudy Wilson, CEO
     Tel:   +1-248-593-8330
     Email: rudy@txicint.com

     Ms. Jackie Chang, CFO
     Tel:   +1-626-660-7117
     China: +86-134-6755-3808
     Email: jackie@txicint.com

     Web:   http://www.txicint.com

    INVESTOR RELATIONS:
     John Mattio, SVP
     HC International, Inc.
     Tel:   +1-203-616-5144 (U.S.)
     Email: john.mattio@hcinternational.net
     Web:   http://www.hcinternational.net
]]> [Press Release] Tongxin Secures New Medium and Heavy-Duty Truck Cab Contracts message_4282 21 Dec 2009 14:00:00 GMT http://chinasecurities.com/ir/Tongxin/messages/4282 CHANGSHA, China, Dec. 21 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC), a China-based manufacturer of engineered vehicle body structures ("EVBS" or "truck cabs"), today announced the introduction of two newly-designed medium and heavy-duty truck cabs for the commercial vehicle market in China.

Throughout 2009, Tongxin International allocated R&D and marketing efforts to develop and expand its product offering to the growing medium and heavy-duty EVBS truck segments in China. The Company's new models, "Tianjiao" and "Tianrui", are currently in vehicle validation and awaiting final approval of shipping schedules from Tongxin's customers. Serial production is anticipated in the first quarter of 2010.

Tongxin will manufacture an unpainted and finished version of each cab model. Unpainted models will ship directly to customers from Tongxin's assembly facility in Zhucheng. Painted and finished cabs will be fitted with a customer-specific interior and instrumentation and ship from Tongxin's Changsha-based manufacturing headquarters. Tongxin has calculated revenues from the new models to accelerate throughout the year. The Company has forecasted $4 million to $6 million in revenues in 2010 from its new models and customer contracts.

Currently, medium and heavy-duty truck cab sales account for less than 10% of Tongxin sales. For the nine months ended September 30, 2009, the addressable market of medium and heavy duty truck cabs in China was $2.3 billion based on an estimated 620,000 units at an average content value $3,700 per cab.

About Tongxin International Ltd.

Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments. The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin maintains a network of 130 customers throughout 20 provinces in China. Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.

FORWARD LOOKING STATEMENTS

Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

    For more information, please contact:

    COMPANY:

     Mr. Rudy Wilson, CEO
     Tel:   +1-248-593-8330
     Email: rudy@txicint.com
     Ms. Jackie Chang, CFO
     Tel:   +1-626-660-7117
     China: +86-134-6755-3808
     Email: jackie@txicint.com
     Web:   http://www.txicint.com

    INVESTOR RELATIONS:

     John Mattio, SVP
     HC International, Inc.
     Tel:   +1-203-616-5144 (U.S.)
     Email: john.mattio@hcinternational.net
     Web:   http://www.hcinternational.net
]]> [Press Release] Tongxin International Ltd. Secures Tax Holiday as New and High Technology Enterp message_4191 07 Dec 2009 13:00:00 GMT http://chinasecurities.com/ir/Tongxin/messages/4191 Income tax-rate reduced to 15% for three year period beginning in 2009
As a result, management increases 2009 Net Income Guidance to $16.7 million

CHANGSHA, China, Dec. 7 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC - News), a China-based manufacturer of engineered vehicle body structures ("EVBS") and stamped parts for the commercial automotive industry, today announced it has been granted a tax holiday as a New and High Technology Enterprise in China.

For the calendar year 2009 year and through 2011, Tongxin International's effective income tax rate will be reduced to 15% from the standard tax rate of 25%. Tongxin has completed its mandatory 15-day waiting period after its conditional certification as a New and High Technology Enterprise on October 29, 2009 and recently received formal notification of their new status from the local tax authorities.

Tongxin's new tax rate will be calculated for the Company's 2009 full year earnings and thus management anticipates approximately $2.0 million in incremental earnings as a result of the adjustment. As a result, calendar 2009 net income guidance is increased to $16.7 million.

About Tongxin International Ltd.

Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments. The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin maintains a network of 130 customers throughout 20 provinces in China. Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.

FORWARD LOOKING STATEMENTS

Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

    For more information, please contact:

    COMPANY:

     Mr. Rudy Wilson, CEO
     Tel:   +1-248-593-8330
     Email: rudy@txicint.com

     Ms. Jackie Chang, CFO
     Tel:   +1-626-660-7117
     China: +86-13467553808
     Email: jackie@txicint.com
     Web:   http://www.txicint.com

    INVESTOR RELATIONS:

     John Mattio, SVP
     HC International, Inc.
     Tel:   +1-203-616-5144 (U.S.)
     Email: john.mattio@hcinternational.net
     Web:   http://www.hcinternation...
]]> [Press Release] Tongxin International Confirms Capital Structure and Reaffirms 2009 Guidance message_4052 18 Nov 2009 13:00:00 GMT http://chinasecurities.com/ir/Tongxin/messages/4052 CHANGSHA, China, Nov. 18 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC - News), a China-based manufacturer of engineered commercial vehicle body structures ("EVBS" or "Truck Cabs") and stamped body parts, is clarifying its capital structure to current and prospective investors in response to questions posed during the Company's third quarter earnings conference call. Management is also reaffirming its 2009 revenue guidance of $120 million and $14.7 million in net income.

As reported in the Company's 2008 20-F filing on May 18, 2009, the capital structure was as follows:

    HT Management Common Shares (Restricted)      6,500,000
    AAAC Management Common Shares (Restricted)    1,149,000
    Public Common Shares (Float)                  3,651,336
    Total Common Shares                          11,300,336
    Warrants                                      5,022,742
    TOTAL SHARES                                 16,323,078

The Company's 5,022,742 warrants issued at the time of the IPO carry a strike price of $5.00. The warrants are redeemable in an "all or none option" should the Company's stock price close at or above $10.00 for 20 out of 30 trading days. Warrants expire on April 11, 2011.

As of September 30th, the Company reported 1,008,349 warrants have been converted into common shares by investors in 2009. The balance of warrants outstanding, 4,014,393, if converted will yield the Company approximately, $20.1 million in proceeds.

As of September 30, 2009, the Company capital structure used in its third quarter 2009 6-K report was the following:

    Management Shares - HNTX and AAAC  (Restricted) 7,649,000
    Public Common Shares (Float)                    4,659,685
    Total Common Shares                            12,308,685
    Warrants                                        4,014,393
    TOTAL SHARES                                   16,323,078

For the period ended September 30, 2009, Tongxin reported a total of 11,649,143 weighted average shares outstanding and 13,067,271 weighted average fully diluted shares outstanding. For the nine month period ended September 30, 2009 Tongxin reported 11,417,883 million weighted basic and fully-diluted shares outstanding. These share counts were utilized to calculate the Company's reported results on September 30, 2009. Due to the non-cash effect on the Company's reported GAAP financial results, Tongxin International believes that non-GAAP earnings and non-GAAP net income results more adequately reflect the Company's operational performance.

                        For the Three Months           For the Nine Months
                        Ended September 30th,         Ended September 30th,
                               2009                              2009

    GAAP Net Income          ($10,898)                        ($9,106)
    Non-GAAP Net Income**      $3,816                         $12.338
    Non-GAAP Basic EPS**        $0.33                           $1.08
    Non-GAAP EPS - Diluted **   $0.29                           $1.08

** Non-GAAP numbers exclude the unrealized, non-cash, loss associated with the value of the Company's warrants and warrant expense. Unrealized warrant loss for the three and nine month period ended September 30, were ($10,882,247) and ($17,612,722) respectively. Warrant expense for the three month and nine month period ended September 30, 2009, was ($3,831,164). In the Company's 6-K, unrealized warrant losses were grouped with the "Other Income" line item on the Company's statement of operations.

Tongxin International also provided additional details about the Company's 2009 guidance of $120 million in revenues and $14.7 million in net income on the Conference Call. Tongxin International reaffirmed both guidance numbers on the call and anticipates a strong fourth quarter for the 2009 year. From an operating basis, the Company anticipates earnings to be above previous issued guidance, however, expenses related to ongoing SOX costs, completion of the Company's ERP system and additional staff hires planned for the fourth quarter may offset incremental net income beyond the Company's guided net income of $14.7 for the full year 2009.

About Tongxin International Ltd.

Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments. The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin maintains a network of 130 customers throughout 20 provinces in China. Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.

FORWARD LOOKING STATEMENTS

Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

    For more information, please contact:

    For the Company:
     Ms. Jackie Chang
     Tongxin International
     Tel:   +1-626-660-7117
     China: +86-134-6755-3808
     Email: jackie@txicint.com
     Web:   http://www.txicint.com

    Investor Relations:
     John Mattio
     HC International, Inc.
     Tel:   +1-203-616-5144 (U.S.)
     Email: john.mattio@hcinternational.net
     Web:   http://www.hcinternation...


]]> [Press Release] Tongxin International Ltd. to Present at the Brean Murray, Carret & Co. China message_3963 16 Nov 2009 13:00:00 GMT http://chinasecurities.com/ir/Tongxin/messages/3963 CHANGSHA, China, Nov. 16 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC - News), a China-based manufacturer of engineered commercial vehicle body structures ("EVBS" or "Truck Cabs") and stamped body parts, today announced that it will present at the Brean Murray, Carret & Co. China Growth Conference, to be held November 19-20, 2009, at the Millennium Broadway Hotel, 150 West 45th Street, New York City.

Mr. Rudy Wilson, Chairman and CEO, is scheduled to present at 1:40 pm ET on Friday November 20 and is available to host one-on-one meetings with conference attendees throughout the two-day event. Mr. Wilson will discuss the Company's financial performance year to date, the commercial vehicle manufacturing market in China, provide an overview why Tongxin is the leading market-share OE supplier of cabs and discuss growth targets both in China and select international markets for 2010 and beyond.

Registration is mandatory. For more information on the conference, contact your Brean Murray, Carret & Co. representative. To register please visit or contact Lindsay Zuckerman at 212-702-6577 or via email at Lindsay.Zuckerman@bmur.com</....

About Tongxin International Ltd.

Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments. The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin maintains a network of 130 customers throughout 20 provinces in China. Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.

FORWARD LOOKING STATEMENTS

Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

For more information, please contact:

    COMPANY:

    Mr. Rudy Wilson, CEO
    Tel:  248-593-8330
    Email:  rudy@txicint.com
    Ms. Jackie Chang, CFO
    Tel:  626-660-7117
    China:  +86-13467553808
    Email:  jackie@txicint.com
    Web:  www.txicint.com

    INVESTOR RELATIONS:

    John Mattio, SVP
    HC International, Inc.
    Tel:   +1-203-616-5144 (U.S.)
    Email: john.mattio@hcinternational.net
    Web:   www.hcinternational.net
]]> [Press Release] Tongxin International, Ltd. Reports Third Quarter 2009 Financial Results message_3895 09 Nov 2009 20:58:00 GMT http://chinasecurities.com/ir/Tongxin/messages/3895 Steady growth with increased profit margins drives income for the quarter and nine-months of 2009.

CHANGSHA, China, Nov. 9 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC - News), a China-based manufacturer of engineered vehicle body structures ("EVBS" or "truck cabs") and stamped parts for the commercial automotive industry, today announced the Company's third quarter 2009 financial results.

   -- Q3 2009 revenues increased 18.8% to $27.1 million vs. Q3 2008.
    -- Non-GAAP Q3 2009 net income increased 83.4% to $3.8 million vs. Q3 2008.
    -- Non-GAAP Q3 2009 earnings per share were $0.29.
    -- Nine-months 2009 revenues increased 19.9% to $91.5 million, non-GAAP
       net income increased 51.9% to $12.3 million, with $1.08 in non-GAAP
       earnings per share.

    (*) Non-GAAP calculation excluded value of unrealized warrants.

Third Quarter Financial Results

Net revenues for the third quarter ended September 30, 2009 increased 18.8% to $27.1 million, an approximate $4.3 million improvement over the same period the prior year. "Mini," "Light," "Medium" and "Heavy-duty" trucks lead growth from shipments to Tongxin's customer base in 21 sales regions in throughout China.

Cost of goods sold were $19.1 million in the third quarter 2009; 71% of Tongxin's costs are cold rolled steel it purchases from supplies in China and Korea. The balances of cost of goods sold are components, paint and interiors used in the manufacturing process plus logistics costs and labor costs. Corresponding gross profits for the third quarter were $8.0 million compared to $4.4 million in the third quarter of 2008. Gross margins for the quarter were 29.5%, compared to 19.2% for the same period prior year. The strong increase in gross margins was mainly due to the steel material price reduction taking effect as well the Company's fixed costs reductions including labor cost, depreciation and amortization costs.

Total operating expenses for the third quarter of 2009 were $2.9 million versus $1.5 million for the same period in 2008. Included in the third quarter operating expenses were approximately $0.6 million costs reflecting added accounting expenses, ERP system implementation and SOX compliance costs. Operating expenses were 10.9% of net sales compared with 6.5% for the same period in 2008. Operating income and operating margins for the third quarter 2009 were $5.1 million and 18.7%, respectively, versus $2.9 million and 12.6% in 2008.

Non-GAAP net income was $3.8 million, representing an increase of 83.4% from $2.1 million reported in the same period prior year. Non-GAAP earnings per share for the quarter were $0.29 based on 13.1 weighted average diluted shares outstanding.

"We have been pleased with the financial result in our business for this quarter and the improving trends in key operating metrics we have witnessed this year," opened Jackie Chang, CFO of Tongxin International. "Not only our revenue out paced the overall commercial vehicle market in China, our gross margins continue to improve in many areas so we can sustain our overall net profit margin in the low season. We've seen the positive margin effect as a result of our new contract price for steel, our largest cost component, which effectively locks us in on current prices for the remainder of 2009, which we believe serves as a good hedge against rising prices in the face of improving economic activity," Chang concluded.

Nine-Months Ended September, 30, 2009

According to the September, 2009 China Business Update -- AutoStatistics ("CBU"), a total of 9.66 million vehicles were sold in China (excluding exports) during the nine month period ended September 30, 2009. A breakdown in sales volume by segment follows;

-- 5.06 million passenger cars, a 60.4 % increase from a year ago -- 2.18 million Multi Purpose Vehicles (MPV), Sport Utility vehicles (SUV) and Mini Vans (MV), a 41.2% increase from a year ago -- 2.42 million commercial vehicles, a 15.6% increase from a year ago

During 2009, the Chinese automotive market became the largest in the world in terms of production and sales as all segments, including passenger cars, SUVs/MPVs/MPs, and commercial vehicles, exhibited double digit growth year over year.

For the first nine months ended September 30, 2009 Tongxin's total revenues were $91.5 million, representing an increase of 19.9% over the same period in 2008. Tongxin's increase in revenues outperformed the overall commercial vehicle market segment during the first nine months of 2009 which grew approximately 15.6%, and is attributed to the securing of 17 new manufacturing contracts earlier in the year, growth in the mini and light truck segments and the Company's move into on-site manufacturing programs with two of its top ten customers. Export in the first nine months also rebounded. Export sales to Vietnam were $11.3 million for the first nine months of 2009, a 2.7% increase from the same period the previous year. According to the Vietnamese Automotive Manufacturing Association ("VAMA"), Vietnam sold 37,000 commercial vehicles in the nine-month period ended September 30, 2009 versus 53,000 in the same period in 2008 or approximately a 30% decrease. Excluding exports from Tongxin's revenues, the Company reported an increase in domestic revenues of 22.8% for the first nine months of 2009.

Non-GAAP earnings before interest and taxes were $17.9 million versus $12.3 million. EBIT margins for the nine-month period were 19.5% for 2009 versus 16.1% in 2008. Tongxin currently pays the standard Chinese corporate tax rate of 25% however the Company has announced on November 3 that it has entered its final stage of approval to reduce its tax rate to 15% for a three-year period as New and High Technology Enterprise.

Non-GAAP net income for the nine month period ended September 30, 2009 increased 51.85% to $12.3 million from $8.1 million in the nine months of 2008. Non-GAAP earnings per share were $1.08 based on 11.4 million diluted shares outstanding versus $0.73 for the nine month period 2008, a 49.0% increase. GAAP net loss for the nine months ended September 2009 were $9.1 million which include unrealized warrant loss of $17.6 million and warrant expense of $3.8 million. GAAP loss per share were $0.80 based on 11.4 million weighted average basic and diluted shares outstanding.

The Company is reporting non-GAAP operating and net income as a result of the non-cash warrant loss of $21.4 million related to the Company's warrants as part of its 2006 IPO financing. Considering the effect the non-cash warrant loss has on the reported GAAP financials, the management of Tongxin believes non-GAAP numbers provide more visibility in its operational performance.

"We believe that the nine months of 2009 gives a strong representation of our capabilities as a valued added supplier to the market," stated CEO, Duanxiang Zhang, of Tongxin International. "As domestic demand and the effects of the stimulus packages including the latest subsidy program announced on July 15 to spur commercial vehicles sales continue to work their way through the economy plus a noticeable return of export orders, we anticipate a succession of strong quarters for Tongxin and continued demand for EVBS through the end of the year," Zhang concluded.

Balance Sheet and Cash Flow Discussion

As of September 30, 2009, Tongxin International had approximately $12.4 million in cash and cash equivalents compared to $11.3 million on December 31, 2008. The Company maintained a non-GAAP current ratio of 1.5, a GAAP current ratio of 1.15, and $26.0 million in accounts receivable on September 30, 2009. Corresponding days sales outstanding ("DSO") were 89 days. Non-GAAP stockholders' equity was $98.1 million on September 30, 2009 from $ 79.8 million as of December 31, 2008, an increase of $18.3 million as result of 2009 non-GAAP net income of $12.3 million, warrant redemption of $5.0 million and exchange rate of $1 million. GAAP stockholders' equity was $80.5 million. GAAP cash flow from operations was $5.4 million.

Company Announcements Tongxin is planning a number of events in the coming months. November 19-20, 2009 - Brean Murray Investment Conference December 4, 2009 - 2009 Annual Shareholders Meeting - Shanghai

Q3 2009 Earnings Conference Call

To attend the call, please use the dial information below. When prompted, ask for the "Tongxin International Conference Call" and/or be prepared to provide the conference ID. Details of the conference call are noted below:

Date: November, 10th 2009 Time: 10:00am ET Conference Line Dial-In (U.S.): 1-877-941-4776 International Dial-In: +1-480-629-9762 Conference ID: 4182012 Webcast link:


]]> [Press Release] Tongxin International Ltd. to Host Conference Call message_3830 05 Nov 2009 14:00:00 GMT http://chinasecurities.com/ir/Tongxin/messages/3830 CHANGSHA, China, Nov. 5 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC - News), a China-based manufacturer of engineered commercial vehicle body structures ("EVBS" or "Truck Cabs") and stamped body parts, announced its conference call to review the Company's third quarter 2009 financial results. Mr. Rudy Wilson, CEO, and Ms. Jackie Chang, CFO, will conduct the call scheduled for Tuesday, November 10th at 10:00a.m. ET. The Company plans to release its third quarter 2009 results after market close, Monday November 9th.

To attend the call, please use the dial information below. When prompted, ask for the "Tongxin International Conference Call" and/or be prepared to provide the conference ID. Details of the conference call are noted below:

    Date:                            November, 10th 2009
    Time:                            10:00am ET
    Conference Line Dial-In (U.S.):  1-877-941-4776
    International Dial-In:           1-480-629-9762
    Conference ID:                   4182012
    Webcast link:  http://viavid.net/dce.as... , or at ViaVid's website at http://www.viavid.net , where the webcast can be accessed through November 10th, 2010.


About Tongxin International Ltd.


Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments.  The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders.  Tongxin maintains a network of 130 customers throughout 20 provinces in China.  Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.


Forward Looking Statements


Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.


    For more information, please contact:

    For the Company:
     Ms. Jackie Chang
     Tongxin International
     Tel:   +1-626-660-7117
     China: +86-13467553808
     Email: jackie@txicint.com
     Web:   http://www.txicint.com

    Investor Relations:
     John Mattio
     HC International, Inc.
     Tel:   +1-203-616-5144 (U.S.)
     Email: john.mattio@hcinternational.net
     Web:   http://www.hcinternation...
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      [Press Release] Tongxin International Ltd. Receives Conditional Recognition
      message_3803
      03 Nov 2009 15:07:00 GMT
      http://chinasecurities.com/ir/Tongxin/messages/3803
      
        Company enters into a 15-day waiting period prior to formal recognition; status leads to reduction of income tax rate to 15% for a three-year period

CHANGSHA, China, Nov. 3 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC - News), a China-based manufacturer of engineered vehicle body structures ("EVBS") and stamped parts for the commercial automotive industry, today announced it has received provisional approval for a reduction in the Company's tax rate from the city of Changsha and the Hunan Province as a New and High Technology Enterprise in China.


As a condition of the approval, Tongxin International has entered into a 15-day waiting day period before formal recognition as a New and High Technology Enterprise in the Hunan Province. Tongxin received notification of their conditional status on October 29, 2009. So as long as their application is not challenged during the waiting period, Tongxin's enterprise tax rate will reduce to 15% from its current 25% tax rate for a three-year period beginning January 1, 2009 and ending December 31, 2011.


About Tongxin International Ltd.


Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments. The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin maintains a network of 130 customers throughout 20 provinces in China. Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.


FORWARD LOOKING STATEMENTS


Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.


    For more information, please contact:

    COMPANY:

    Mr. Rudy Wilson, CEO
     Tel:   +1-248-593-8330
     Email: rudy@txicint.com

    Ms. Jackie Chang, CFO
     Tel:   +1-626-660-7117
     China: +86-134-6755-3808
     Email: jackie@txicint.com
     Web:   http://www.txicint.com

    INVESTOR RELATIONS:

    John Mattio, SVP
     HC International, Inc.
     Tel:   +1-203-616-5144 (U.S.)
     Email: john.mattio@hcinternational.net
     Web:   http://www.hcinternation...
]]>
      
    
    
      [Press Release] Tongxin International Secures Second 'On-Site' Manufacturing Contract
      message_3551
      08 Oct 2009 13:00:00 GMT
      http://chinasecurities.com/ir/Tongxin/messages/3551
      
        CHANGSHA, China, Oct. 8 /PRNewswire-Asia-FirstCall/-- Tongxin International, Ltd. (Nasdaq: TXIC - News), a China-based manufacturer of engineered vehicle body structures("EVBS"), today announced a new contract with a leading Chinese commercial vehicle manufacturer to manufacture and assemble Tongxin's cab model 1280 on-site and in the customer's production facilities in China.


Tongxin reported that it will design the dies and moulds and ship them to the customer where a team of Tongxin staff will work on the customer's production line to assemble its model 1280,a cab-over-engine, for heavy duty commercial trucks.  Tongxin's manufacturing and assembly team will stamp the truck cab parts, assemble and weld the cab and deliver unpainted cabs to the manufacturers' paint line for painting and interior fittings prior to final assembly on a finished truck. The customer opted to have Tongxin assemble its cabs on-site instead of purchasing the complete cab bodies direct from Tongxin to reduce shipping expense and capitalize on Tongxin's expertise in building EVBS. Assembly began in October at the manufacturer's facility under a 3-year contract running through September, 2012.  In addition to their in-house manufacturing of the model 1280 cab, Tongxin will continue to ship the customer several other models from its manufacturing plant in Changsha.


This is the second such type of contract involving manufacturing on the part of Tongxin at a customer's assembly plant. On August 4, 2009, the Company announced the first contract with another leading commercial vehicle manufacturer.  Both customers are considered "top-ten" customers of the Company's more than 130-strong customer base in 21 sales regions throughout China.


"It is encouraging to see that this trend in localized manufacturing on our customer's line is beneficial for both parties," stated Duanxiang Zhang, Vice Chairman and CEO of Hunan Tongxin.  "A contract of this type significantly develops our relationship with our customer base as it offers both a traditional option of shipments from our manufacturing sites to the customer, or, if they find it beneficial, our team assembling our designs on our customer's site. We are pleased to see our customer's turning to us for collaborative options."


About Tongxin International Ltd.


Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments.  The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin maintains a network of 130 customers throughout 20 provinces in China.  Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.


FORWARD LOOKING STATEMENTS


Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.


    For more information, please contact:

    COMPANY:

     Mr. Rudy Wilson, CEO
     Tel:  248-593-8330
     Email:  rudy@txicint.com
     Ms. Jackie Chang, CFO
     Tel:  626-660-7117
     China:  +86-13467553808
     Email:  jackie@txicint.com
     Web:  www.txicint.com


    INVESTOR RELATIONS:

     John Mattio, SVP
     HC International, Inc.
     Tel:   +1-914-669-5340 (U.S.)
     Email: john.mattio@hcinternational.net
     Web:   www.hcinternational.net
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      [Press Release] Tongxin International Ltd. to Present at the Maxim Group Conference
      message_3391
      22 Sep 2009 13:00:00 GMT
      http://chinasecurities.com/ir/Tongxin/messages/3391
      
        CHANGSHA, China, Sept. 22 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC - News), a China-based manufacturer of engineered vehicle body structures ("EVBS" or "truck cabs") and stamped parts for the commercial automotive industry, announced today that it will present at the Maxim Group Growth Conference, to be held September 29, 2009, at the Grand Hyatt New York Hotel in New York City.



The Company is scheduled to present at 1:30pm ET on Tuesday, September 29th, 2009 and is available to host one-on-one meetings with conference attendees throughout the one-day event.  Management will discuss the Company's products for the commercial vehicle market in China, trends in the original equipment manufacturing automotive sector in China, its customer growth rate and Tongxin's goal to expand into export markets.


Registration is mandatory.  For more information on the conference, contact your Maxim Group representative.  To register please visit http://www.maximgrp.com/ or contact Janet Fox at 516-396-3403 or via email at jfox@maximgrp.com.


About Tongxin International Ltd.


Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments.  The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process.  EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders.  Tongxin maintains a network of 130 customers throughout 20 provinces in China.  Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.


    For more information, please contact:

    COMPANY:
     Mr. Rudy Wilson, CEO
     Tel:   +1-248-593-8330
     Email: rudy@txicint.com

     Ms. Jackie Chang, CFO
     Tel:   +1-626-660-7117
     China: +86-134-6755-3808
     Email: jackie@txicint.com
     Web:   http://www.txicint.com

    INVESTOR RELATIONS:
     John Mattio, SVP
     HC International, Inc.
     Tel:   +1-914-669-5340 (U.S.)
     Email: john.mattio@hcinternational.net
     Web:   http://www.hcinternation...
]]>
      
    
    
      [Press Release] Tongxin International Ltd. (TXIC) Chairman and Vice Chairman to Ring The NASDAQ
      message_3350
      17 Sep 2009 16:52:00 GMT
      http://chinasecurities.com/ir/Tongxin/messages/3350
      
        ADVISORY, Sept. 17, 2009 (GLOBE NEWSWIRE) --



 What:
 Tongxin International Ltd. (TXIC) Chairman Rudy Wilson and Vice
 Chairman Ruanxiang Zhang will preside over the NASDAQ opening bell.

 Where:
 NASDAQ MarketSite - 4 Times Square - 43rd and Broadway - Broadcast Studio

 When:
 Friday, September 18, 2009 at 9:15 a.m. - 9:30 a.m. EDT

 Contacts:
 John Mattio
 HC International, Inc.
 Tel:   +1-914-669-5340 (U.S.)
 Email: john.mattio@hcinternational.net

 NASDAQ MarketSite:
 Jolene Libretto; 646.441.5220; mobile - 347.219.9539
 Jolene.Libretto@nasdaq.com


Feed Information:


The Opening Bell is available from 9:20 a.m. to 9:35 a.m. on Galaxy 19 C/15, downlink frequency 4000 vertical. The feed can also be found on Ascent fiber 1623. If you have any questions, please contact Jolene Libretto at (646) 441-5220.


Radio Feed:


An audio transmission of the Opening Bell is also available from 9:20 a.m. to 9:35 a.m. on uplink IA6 C band / transponder 24, downlink frequency 4180 horizontal. The feed can be found on Ascent fiber 1623 as well.


Webcast:


A live webcast of the NASDAQ Opening Bell will be available at: http://www.nasdaq.com/re... and click on the market open of your choice.


About Tongxin International Ltd. (TXIC):


Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments. The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin maintains a network of 130 customers throughout 20 provinces in China. Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.


About NASDAQ OMX:


The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with over 3,700 listed companies. NASDAQ OMX Group offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North; and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and ETFs. NASDAQ OMX Group technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX Group exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com.


NDAQA
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      [Press Release] Tongxin International, Ltd. Launches New Website
      message_3341
      17 Sep 2009 13:00:00 GMT
      http://chinasecurities.com/ir/Tongxin/messages/3341
      
        CHANGSHA, China, Sept. 17 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC - News), a China-based manufacturer of engineered vehicle body structures ("EVBS" or "truck cabs") and stamped parts for the commercial automotive industry, announced today the launch of the Company's new Web site, http://www.txicint.com .



The complete redesign of the Web site includes a robust Company Overview with images of the facilities in China, a company profile, biographies of the management team, and the areas Tongxin International covers in China. The Products section of the site presents the core product families: the "mini" segment of EVBS, the "light" commercial segment, both "medium" and "heavy" commercial segments and the Company's advancements in the minivan and light vehicle segments which include SUV, MPV and MP vehicles.


New to the site is the Investor Relations tab. In the Investor Relations section of the site, prospective and current investors can review the Company's governance, SEC filings, press releases, quarterly financials and events including the shareholders' meetings, and obtain the latest price quotes and information about the performance of TXIC stock.


Company contact information, including names, addresses and phone numbers, is listed in the "Contact Us" section of the site. Tongxin's Web site is available in both English and Chinese


"We recognize the importance of our Web site for marketing purposes globally and also as a means for our shareholders to rely on us as the main source of information on our company," stated Ms. Jackie Chang, CFO of Tongxin International. 'txicint.com' will be updated frequently with news from our Company and feature additional products we design and market to our customers in China and around the world. Over time, we will build other valuable components into our Web site including a FAQ section and links to global automotive market data," Chang concluded.


About Tongxin International Ltd.


Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments. The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin maintains a network of 130 customers throughout 20 provinces in China. Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.


Forward Looking Statements


Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.


    For more information, please contact:

    Company:
     Mr. Rudy Wilson, CEO
     Tel:    +1-248-593-8330
     Email:  rudy@txicint.com

     Ms. Jackie Chang, CFO
     Tel:    +1-626-660-7117
     China:  +86-134-6755-3808
     Email:  jackie@txicint.com
     Web:    http://www.txicint.com

    Investor Relations:
     John Mattio, SVP
     HC International, Inc.
     Tel:   +1-914-669-5340 (U.S.)
     Email: john.mattio@hcinternational.net
     Web:   http://www.hcinternation...
]]>
      
    
    
      [Press Release] Tongxin International, Ltd. to Ring Nasdaq Opening Bell on September 18, 2009
      message_3324
      15 Sep 2009 13:00:00 GMT
      http://chinasecurities.com/ir/Tongxin/messages/3324
      
        CHANGSHA, China, Sept. 15 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC - News), a China-based manufacturer of engineered vehicle body structures ("EVBS" or "truck cabs") and stamped parts for the commercial automotive industry, announced today that CEO of Hunan Tongxin, Duanxiang Zhang, will ring the Nasdaq opening bell on September 18, 2009.



Mr. Zhang will be joined by the Company's US and China-based management teams which include the Company's Chairman, Mr. Rudy Wilson, Ms. Jackie Chang, CFO, Mr. Weiwu Peng, COO, and select members of Tongxin's board of directors. In addition to being broadcast on national business television at 9:30 am ET, the bell-ringing ceremony will be webcast live on NASDAQ's website and on the NASDAQ MarketSite Tower in New York City's Times Square.


"We are pleased to ring the Nasdaq bell at this point in our Company's history," said Duanxiang Zhang.  "Our performance in 2009 represents the abilities of our company and the growth of the EVBS and automotive industries in China. We can think of no better time to formally inaugurate our company's relationship with Nasdaq and our shareholders," Zhang concluded.


About Tongxin International Ltd.


Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments.  The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process.  EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders.  Tongxin maintains a network of 130 customers throughout 20 provinces in China.  Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.


FORWARD LOOKING STATEMENTS


Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements."  Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC.  Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.


    For more information, please contact:

    COMPANY:
     Mr. Rudy Wilson, CEO
     Tel:   +1-248-593-8330
     Email: rudy@txicint.com
     Ms. Jackie Chang, CFO
     Tel:   +1-626-660-7117
     China: +86-134-6755-3808
     Email: jackie@txicint.com
     Web:   http://www.txicint.com

    INVESTOR RELATIONS:
     John Mattio, SVP
     HC International, Inc.
     Tel:   +1-914-669-5340 (U.S.)
     Email: john.mattio@hcinternational.net
     Web:   http://www.hcinternation...
]]>
      
    
    
      [Press Release] Tongxin International, Ltd. to Present at the Rodman & Renshaw Conference
      message_3168
      31 Aug 2009 13:00:00 GMT
      http://chinasecurities.com/ir/Tongxin/messages/3168
      
        CHANGSHA, China, Aug. 31 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC - News), a China-based manufacturer of engineered vehicle body structures ("EVBS" or "truck cabs") and stamped parts for the commercial automotive industry, today announced that it will present at the Rodman & Renshaw Annual Global Investment Conference, to be held September 9-11, 2009, at the New York Palace Hotel in New York City.



Mr. Rudy Wilson, Chairman and CEO, and Ms. Jackie Chang, CFO and CAO, are scheduled to present at 11:15am ET on Friday, September 11th and are available to host one-on-one meetings with conference attendees throughout the three-day event. Mr. Wilson and Ms. Chang will discuss the Company's products and distribution including their recently announced "on-site" manufacturing contract with one of their top customers in China, the business climate and growth opportunities in the commercial automotive industry in China and worldwide, the Company's recent financial results and Tongxin's long-term growth plans.


Conference registration is mandatory. For more information on the conference, contact your Rodman & Renshaw representative or to register please visit http://www.rodmanandrens... .


Tongxin International will host meetings throughout the New York area on September  10th. To request meetings with the Company, please contact Mr. John Mattio of HC International at (914) 669-5340 or by email at john.mattio@hcinternational.net.


About Tongxin International Ltd.


Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments.  The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin maintains a network of 130 customers throughout 20 provinces in China. Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.


    For more information, please contact:
    COMPANY:
     Mr. Rudy Wilson, CEO
     Tel:   +1-248-593-8330
     Email: rudy@txicint.com

     Ms. Jackie Chang, CFO
     Tel:   +1-626-660-7117
     China: +86-134-6755-3808
     Email: jackie@txicint.com
     Web:   http://www.txicint.com

    INVESTOR RELATIONS:
     John Mattio, SVP
     HC International, Inc.
     Tel:   +1-914-669-5340 (U.S.)
     Email: john.mattio@hcinternational.net
     Web:   http://www.hcinternation...
]]>
      
    
    
      [Press Release] Tongxin International, Ltd. Reports Second Quarter 2009 Financial Results
      message_2917
      10 Aug 2009 22:00:00 GMT
      http://chinasecurities.com/ir/Tongxin/messages/2917
      
        CHANGSHA, China, Aug. 10 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC - News), a China-based manufacturer of engineered vehicle body structures ("EVBS" or "truck cabs") and stamped parts for the commercial automotive industry, today announced the Company's second quarter 2009 financial results.


    -- Q2 2009 revenues increased 50.2% to $34.8 million vs. Q2 2008.
    -- Second quarter revenues grew 18.2% sequentially over Q1 2009.
    -- Q2 2009 net income increased 80.4% to $4.4 million vs. Q2 2008 and 7.9%
       higher compared to Q1 2009.
    -- Earnings per share based on 11.3 million basic shares outstanding were
       $0.39 and $0.34 per weighted diluted shares.
    -- Company provides revised guidance of $120.0 million in revenues and
       $14.7 million in net income for the 2009 calendar year.


Second Quarter Financial Results


Net revenues for the second quarter ended June 30, 2009 reached $34.8 million, an approximate $11.7 million, or 50.2 % increase, over the same period the prior year. Significant quarter-over-quarter sales increases were directly attributed to increased sales to existing customers, new contracts the continued recovery of the manufacturing sector after factory quotas and shutdowns were ordered by Beijing in April, May and June 2008 in preparation for the Summer Olympics. In the four identifiable truck segments; "Mini," "Light," "Medium" and "Heavy," Tongxin built and shipped the majority of their truck cabs to Mini and Light duty truck manufacturers in China. The Company also reported that their customer base is taking an increasing number of "complete cabs" with interiors and instrumentation installed in each truck cab. For the 3-month period ended June 30, 2009, complete truck cabs accounted for 24% of revenues compared to 10% in 2008. Complete truck cabs are Tongxin's highest revenue goods and have increased the average selling price per unit.


Tongxin also reported sequential sales growth of 18.2% over the first quarter of 2009. Driving this sales growth were shipments to the Company's more than 130 commercial vehicle manufacturers in China. Tongxin secured additional sales orders from manufacturers who view outsourcing of cab manufacturing as a method to reduce overhead and manufacturing costs in a competitive environment.


"The financial crisis has taken its toll on some of the manufacturers in our customer base, but it has also impacted competitors in the sector," began Vice-Chairman Duanxiang Zhang of Hunan Tongxin. "Signs of recovery are evident by our growth year to date and we have benefited by picking up business from smaller competitors who were ill equipped financially to navigate the downturn and unconfirmed reports have disclosed shut downs of many smaller operations. Our sales team has been able to capitalize on this event and our plants have responded quickly to shipment date requirements to secure new business from both existing and new customers."


Cost of goods sold were $27.0 million in the second quarter 2009. 80% of Tongxin's costs are cold rolled steel. The balance of costs are components, paint and interiors used in the manufacturing process and labor costs. Corresponding gross profits for the second quarter were $7.9 million compared to $4.7 million in the second quarter of 2008. Gross margins increased 237 basis points to 22.6% in 2009 from 20.2% for the prior quarter ended June 30, 2008. A decline in gross margins from the first quarter 2009 was due to the Company's efforts in securing current sales orders by installing less costly and lower margin accessories into finished cabs. The goal of this strategy is to win sales orders for new models and to stabilize the factory work force in anticipation of a full market recovery.


Total operating expenses for the second quarter of 2009 were $1.2 million versus $0.9 million for the same period in 2008. Included in the second quarter operating expenses were approximately $0.6 million costs reflecting added accounting expenses, ERP system implementation and SOX compliance costs. Operating expenses were 3.3% compared with 4.0% for the same period, 2008. Operating income and operating margins for the quarter were $6.7 million and 19.3%, respectively, versus $ 3.8 million and 16.2 % in 2008.


Net income was $4.4 million, representing an increase of 80.4% from $2.6 million reported in the same period prior year. Net profit margins were 12.7% for the quarter which is a 200-basis point improvement in net margins from 10.6% reported the second quarter of 2008. Earnings per share for the quarter were $0.39 based on 11.3 million basic shares outstanding.


"We have been pleased with the rebound in our business for this quarter and the improving trends in key operating metrics we have witnessed compared to 2008," opened Jackie Chang, CFO of Tongxin International. "Although margins came down a bit in the second quarter of 2009 compared to the first quarter, we made a decision on pricing to gain market share and position us for further growth. We negotiated a contract for steel, our largest cost component, which effectively locks us in on current prices for the remainder of 2009, which we believe serves as a good hedge against rising prices in the face of improving economic activity," Chang concluded.


Six-Months Ended June, 30, 2009


According to the June 2009 China Business Update -- AutoStatistics ("CBU"), a total of 5,996,914 vehicles were sold in China (excluding exports) during the six month period ended June 30, 2009. A breakdown in the volume is below;


    -- 3.2 million passenger cars, a 22.51% increase from a year ago
    -- 1.32 million Multi Purpose Vehicles (MPV), Sport Utility vehicles (SUV)
       and Mini Vans (MV), a 35.36% increase from a year ago
    -- 1.56 million commercial vehicles, a 0.53% decrease from a year ago


For the first six months ended June 30, 2009 total revenues were $64.4 million, representing an increase of 20.4% over the same period in 2008. Tongxin's increase in revenues outperformed the overall market during the first half of 2009 and is attributed to the securing of 17 new manufacturing contracts earlier in the year. The growth for the first half of the year is also qualified in the Company's increase of "complete" or "finished" cabs, (the highest priced category of cabs it sells throughout their customer base) and the first wave of export orders from its customer base in Vietnam. Exports to Vietnam were $7.8 million for the first six months of 2009, a 21.1% decrease compared to the same period in 2008. Since both the cabs and chassis are shipped to Vietnam, Tongxin credits the decrease to timing of components availability from other suppliers and not a loss of its customer volume. Tongxin anticipates the 2009 full year export volume to remain as strong as 2008. According to the Vietnamese Automotive Manufacturing Association, Vietnam sold 22,000 commercial vehicles in the six-month period ended June 30, 2009 versus 43,000 in the same period in 2008. Excluding exports from Tongxin's revenues, the Company reported an increase in domestic revenues of 30.1% for the first six months of 2009.


Earnings before interest and taxes were $12.8 million versus $9.3 million and 19.8% for the six months ended June 30, 2009 versus 17.3% in 2008. Tongxin pays the standard Chinese corporate tax rate of 25% however the Company has applied for a designation as a High-Tech Enterprise and a reduction to 15% for its income tax rate. This application is still in the process of review and if approved, would be retroactive to the first of the year for three consecutive years.


Net income for the six-month period ended June 30th, 2009 increased 41.7% to $8.5 from $6.0 in the first six months of 2008. Earnings per share were $0.75 versus $0.54 for the six month period, respectively, a 41% increase.


"We believe that the first half of 2009 gives a strong representation of our capabilities as a valued added supplier to the market", stated CEO and Chairman, Rudy Wilson of Tongxin International. "As domestic demand and the effects of the stimulus packages including the latest subsidy program announced on July 15 to spur commercial vehicles sales continue to work their way through the economy plus a noticeable return of export orders, we anticipate a succession of strong quarters for Tongxin and continued demand for EVBS in 2009," Wilson concluded.


Balance Sheet and Cash Flow Discussion


As of June 30, 2009, Tongxin International had approximately $10.4 million in cash and cash equivalents compared to $11.3 million on December 31st, 2008. The Company maintained a current ratio of 1.51x and $24.6 million in accounts receivable on June 30, 2009. Corresponding days sales outstanding ("DSO") were 83 days. Stockholders' equity was $90.6 million on June 30, 2009 from $ 79.8 million for December 31, 2008, an increase of $10.8 million as result of 2009 net profit of $8.5 million and exchange rate impact of $2.3 million. Cash flow from operations was $6.3 million mainly due to net profit of $8.5 million.


Revised 2009 Guidance


Based upon continued strong growth in the Chinese domestic market and anticipated improvement in exports to Vietnam, the Company is revising earnings guidance and providing revenue guidance for 2009. Revenues are estimated to be $120.0 million for the calendar year, 2009. Net income is forecasted to increase to $14.7 million, an 18.5% increase from previously issued guidance. Earnings per basic share outstanding are forecasted to be $1.30 compared to previous guidance of $1.10 based on 11.3 million shares. As of June 30, 2009 the company had 12.9 million diluted shares outstanding (based upon the Treasury Method).


The variance in basic and diluted shares is derived from the treasury calculation for warrants. The Company has approximately five million warrants outstanding with strike price of $5.00 and callable at $10.00. At the Company's option, and in the event the selling price of the Company's common shares trades at an average price of $10.00 or more for twenty days out of a thirty day selling period, it may redeem warrants on "an all-or-none" basis. If the warrants are redeemed the Company would recognize gross proceeds of approximately $25 million.


    Company Announcements
    Tongxin is planning a number of events in the coming months.

    September 9-11, 2009 -- Rodman&Renshaw Investor Conference, NYC
    September 18, 2009   -- NASDAQ Bell Ringing and Ceremony and Non Deal
                            East Coast Road Show
    September, 29 2009   -- Maxim Group Investor Conference, NYC and Non-Deal
                            Road Show


Q2 2009 Earnings Conference Call


To attend the call, please use the dial information below. When prompted, ask for the "Tongxin International Conference Call" and/or be prepared to provide the conference ID. Details of the conference call are noted below:


    Date:                           August, 11th 2009
    Time:                           11:00am ET
    Conference Line Dial-In (U.S.): 1-877-941-8610
    International Dial-In:          +1-480-629-9031
    Conference ID:                  4135987
    Webcast link:                   
    Current liabilities:
    Accounts payable                         $13,926     $18,677     $21,037
    Accrued expenses and other
     liabilities                               1,670      11,602       7,393
    Income tax payable                         3,422      17,975      17,418
    Short-term loans                          24,965      18,976      16,669
    Short-term loans from shareholders             0       2,463       8,591
    Derivative liabilities                       452           0         452
    Total current liabilities                 44,435      69,693      71,560
    Long-term liabilities:
    Long-term loans                                0       2,736       4,523
    Long-term loans from shareholders              0      10,476           0
    Deferred tax liability                     2,256           0       2,243
    Other                                          0          24          25
    Total liabilities                         46,691      82,929      78,351
    Stockholders' equity:
    Preferred Stock, $0.001 par value,
     authorized 1,000,000 shares; none
     issued
    Common stock - $0.001 par value,
     authorized 39,000,000 shares; issued
     12,889,758 shares and outstanding
     11,300,336 shares                            13       8,762          13
    Reserve funds                                         13,059
    Additional paid-in capital                77,081                  77,081
    Treasury Stock, 1,589,422 shares          (7,682)                 (7,682)
    Accumulated other comprehensive
     income                                      426       2,373         426
    Retained earnings                         20,817       8,077       9,987
    Total stockholders' equity                90,655      32,271      79,825
                                            $137,346    $115,200    $158,176
    TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY



                      CONSOLIDATED STATEMENTS OF OPERATIONS
           FOR THE THREE MONTHS APRIL 1 THROUGH JUNE 30, 2009 AND 2008
            AND SIX MONTHS JANUARY 1ST THROUGH JUNE 30, 2009 AND 2008
     (US$ amounts expressed in thousands, except for share data and earnings
                                    per share)

                              Three Months Ended June  Six Months Ended June
                                        30,                     30,
                                   2009        2008        2009        2008
                               (unaudited) (unaudited) (unaudited) (unaudited)
    Revenue                       $34,862     $23,198     $64,361     $53,479
    Cost of goods sold            (26,994)    (18,511)    (48,065)    (41,245)
    Gross profit                    7,868       4,687      16,296      12,234
    Operating expenses:
    Selling, general and
     administrative expenses       (1,442)       (926)     (4,107)     (2,983)
    Other income                      302                     572           0
    Interest Expenses                (585)       (615)     (1,101)     (1,230)
    Income before income taxes      6,143       3,146      11,660       8,021
    Income taxes                   (1,720)       (694)     (3,138)     (1,977)
    Net income                     $4,423      $2,452      $8,522      $6,044
    Comprehensive income            4,423       2,452       8,522       6,044
    Net income per common
     share                           0.39        0.22        0.75        0.54
    Net income per common
     share-diluted                   0.34        0.19        0.66        0.47
    Weighted average shares
     outstanding               11,294,633  11,294,633  11,294,633  11,294,633
    Weighted average shares
     outstanding - diluted     12,925,932  12,925,932  12,925,932  12,925,932



                           TONGXIN INTERNATIONAL, LTD.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
       FOR THE SIX MONTHS ENDED JUNE 30, 2009 AND TWELVE MONTHS ENDED2008
                      (US$ amounts expressed in thousands)
                                               FOR THE SIX    FOR THE TWELVE
                                              MONTHS ENDED      MONTHS ENDED
                                                   JUNE 30       DECEMBER 31
                                                      2009              2008
                                                (unaudited)         (audited)
    Cash flows from operating activities:
    Net income                                      $8,522           $20,486
    Adjustments to reconcile net income
     to net cash provided by operating
     activities:
    Reversal of bad debt allowance                      --              (944)
    Depreciation expense                               733             2,828
    Amortization expense                                --                54
    Unrealized gain on warrant                          --           (13,535)
    Changes in operating assets and
     liabilities:
    (Increase)/decrease in inventories               2,288            (5,112)
    (Increase)/decrease in trade accounts
     / notes receivable                            (15,983)           11,453
    (Increase)/decrease in Due from
     related party                                  17,313            (1,724)
    (Increase)/decrease of prepaid
     expenses and other current assets               2,441            (1,275)
    (Increase)/decrease in Deferred tax
     assets                                            120               192
    (Increase)/decrease in Other
     Receivable                                        330                 2
    Increase/(decrease) in accounts
     payable                                        (7,111)              967
    Increase/(decrease) of accrued
     expenses, and other liabilities                (2,306)             (943)
    Net cash provided by operating
     activities                                      6,347            12,449

    Cash flows from investing activities:
    Acquisition of Hunan Tongxin
     Enterprise Co. Ltd., net of cash
     acquired of $5,319                                 --            (7,700)
    Cash paid for purchase of fixed
     assets and intangible assets                   (3,566)           (9,493)
    Cash paid for investment                          (265)              (75)
    Net cash used in investing activities           (3,831)          (17,268)

    Cash flows from financing activities:
    Proceeds from loans                              3,773            23,649
    Proceeds from loans-related parties             (8,591)            9,894
    Debt repayments                                    (25)          (23,444)
    Debt repayments-related parties                     --           (16,425)
    Net cash (used in) provided by
     financing activities                           (4,843)           (6,326)

    Effect of foreign exchange rate
     changes                                         1,388               199

    Net increase (decrease) in cash and
     cash equivalents                                 (939)            9,651
    Cash and cash equivalents at
     beginning of year                              11,313             1,662
    Cash and cash equivalents at end of
     year                                           10,374            11,313

    Supplemental information:
    Income taxes paid                                3,138             2,843
    Interest paid                                    1,102             2,702

]]>
      
    
    
      [Press Release] Tongxin International Begins Production Runs on 17 New Contracts
      message_959
      26 Feb 2009 10:00:00 GMT
      http://chinasecurities.com/ir/Tongxin/messages/959
      
        CHANGSHA, China, Feb. 26 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC), a China-based manufacturer of engineered vehicle body structures ('EVBS'), announced today the addition of 17 new manufacturing contracts for customers in Hubei, Fujian, Nanjing, Guangxi, Jiangsu and Shandong provinces. Tongxin has also begun shipping its 1041 cab model to a Wuhan-based customer for its joint-venture manufacturing platform in the Middle East. Both of these programs are forecasted to contribute $6 million to $12 million in revenues in 2009.


Over the past year, Tongxin has been focused on expanding its product offerings to its customer base of 130 customers throughout 20 provinces in China. Providing cost-effective and complete EVBS based on the design specifications provided by the manufacturer is the core activity of their personnel across five sales regions in China. The Company estimated the EVBS market size in China to be $19 billion in 2007 which included vehicle bodies for commercial vehicles and passenger cars. Tongxin has successfully tested and introduced five new models from its mini, light, medium, heavy and SUV product lines to 17 commercial vehicle manufacturers in China. Prior to Tongxin securing these contracts, each vehicle manufacturer was producing 100% of their cabs independently.


The Company has also announced a contract with a long-standing, Wuhan-based customer who has initiated a joint-venture manufacturing platform in the Middle East. The manufacturer has selected Tongxin's single cab, over-the-engine model 1041 as the exclusive cab model for the manufacturer's light commercial vehicle production line. Light commercial vehicles are categorized as those with a gross vehicle weight of 7,000lbs to 12,000lbs. The joint venture has an estimated demand of 3,400 - 5,000 units a year. In the Middle East, single cab transport vehicles are the most widely sold units in the market. Tongxin has identified this market as the 'emerging market commercial vehicle' segment which Ernst and Young approximates at more than 400,000 vehicles a year. Based on an average selling price in 2008, the corresponding value of the segment is $520 million for Chinese joint-ventures and domestic manufacturers in this segment. Tongxin has been working to secure the Middle East contract since September 2008, when the Company first shipped out pre-production parts to the manufacturer for testing and design approvals.


'We have been very pleased with the results of our sales teams,' opened CEO and Vice-Chairman Duanxiang Zhang. 'The sales cycle for original equipment is a long process and requires diligence and persistence to secure contracts. As we widen our product offering to our customer base, we are confident we will continue to uncover other opportunities for our company to place additional models into production. Competition in the market is increasing and manufacturers are under pressure to reduce costs and use engineering talent wisely. These two conditions will provide Tongxin with a growing list of prospects throughout the year,' Zhang concluded.


About Tongxin International Ltd.


Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments. The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin maintains a network of 130 customers throughout 20 provinces in China. Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.


Forward-Looking Statements


Statements contained in this press release, which are not historical fact, constitute 'Forward-Looking Statements.' Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.


    For more information, please contact:

    HC International, Inc.
     John Mattio
     Tel:   +1-914-669-5340 (U.S.)
     Email: john.mattio@hcinternational.net
     Web:   http://www.hcinternational.net


SOURCE  Tongxin International Ltd.



 Source: PR Newswire (February 26, 2009 - 11:00 AM EST) 
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      [Broadcast] Welcome to Chinasecurities
      broadcast_159
      17 Mar 2009 14:49:10 GMT
      http://chinasecurities.com/ir/Tongxin/webcasts/159
      
      
    
    
      [Press Release] Tongxin International to Host Business Update Call With Chief Financial Officer
      message_960
      26 Jan 2009 15:02:00 GMT
      http://chinasecurities.com/ir/Tongxin/messages/960
      
        NEW YORK and CHANGSHA, China, Jan. 26 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC), a China-based manufacturer of engineered commercial vehicle body structures ('EVBS') and stamped body parts, announced today a conference call to introduce the Company's CFO, Jackie Chang, to investors and provide a business update.


On the call, Mrs. Chang will update investors on her projects for the year including SOX compliance, the Company's plans to install a new enterprise resource planning system, provide detail on finances, and then field questions from investors.  Also joining the call will be Mr. Rudy Wilson, CEO and Chairman of Tongxin International, who will provide an update on acquisition plans including Meihua Bus.


To attend the call, please use the dial information below.  When prompted, ask for the 'Tongxin International Conference' and/or be prepared to provide the conference ID detailed in the information below.


    Conference Line Dial-In (U.S.):    1 800-762-8795
    International Dial-In:             + 1 480-629-9039
    Conference ID:                     3969013
    Webcast link:                      http://viavid.net/dce.aspx?sid=00005641



The conference call will take place at 10:00 a.m. ET on Thursday, January 29th, 2009. Interested participants should call 800-762-8795 when calling within the United States or 480-629-9039 when calling internationally.  Please dial in at least 10-minutes before the call to ensure timely participation. A playback will be available through February 5th, 2009. To listen, please call 800-406-7325 within the United States or +1 303-590-3030 when calling internationally. Utilize the pass code 3969013 for the replay.


This call is being webcast by ViaVid Broadcasting and can be accessed by clicking on this link http://viavid.net/dce.aspx?sid=00005641 , or at ViaVid's website at http://www.viavid.net , where the webcast can be accessed through September 16th, 2009.


About Tongxin International Ltd.


Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments.  The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process.  EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders.  Tongxin maintains a network of 130 customers throughout 28 provinces in China.  Headquartered in Changsha, Tongxin also maintains distribution facilities in Dali, Ziyang and Zhucheng and sales offices in Hong Kong, Beijing and Shanghai.


FORWARD LOOKING STATEMENTS


Statements contained in this press release, which are not historical fact, including the anticipated date of listing of the Class A Common Stock on the NASDAQ Global Market, constitute 'Forward-Looking Statements.' Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.


    For more information, please contact:
    Investor Relations Contacts
     John Mattio & Rita Jiang
     HC International, Inc.
     Tel:   +1-914-669-5340 (U.S.)
     Email: john.mattio@hcinternational.net; rita.jiang@hcinternational.net
     Web:   http://www.hcinternational.net



SOURCE  Tongxin International Ltd.



 Source: PR Newswire (January 26, 2009 - 4:01 PM EST)
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      [Press Release] Tongxin International, Ltd. Appoints Marcus Chao to Board of Directors
      message_961
      02 Dec 2008 08:03:00 GMT
      http://chinasecurities.com/ir/Tongxin/messages/961
      
        International Business and Manufacturing Experience Adds Depth to Independent Board

NEW YORK and CHANGSHA, China, Dec. 2 /PRNewswire-Asia-FirstCall/ -- Tongxin International, Ltd. ('Tongxin')('Company')(Nasdaq: TXIC), a manufacturer of engineered commercial vehicle body structures ('EVBS'), SUV passenger vehicle bodies and stamped body parts for the Chinese commercial vehicle market, today announced the appointment of Mr. Marcus Chao to Tongxin International's board of directors. Mr. Chao's appointment will total Tongxin's board of directors to nine members.


Mr. Chao has over 30 years of management experience in global corporations.  His background covers materials, engineering, manufacturing, supply management, and business development for manufacturing companies in the automotive industry.   Prior to his retirement from Delphi Global Supply Management as a Director in 2005, Mr. Chao was the Chairman and President of Delphi (China) Holding Company from 1995 to 2001.   From 2001 through 2007, Chao developed and served as CEO & President for the Shanghai-based Lean Enterprise China Inc (LEC), an affiliate organization to the Lean Enterprise Institute (LEI) for greater China. Both LEC and LEI are non-profit organizations promoting and educating lean manufacturing practices in China.


Mr. Chao holds a bachelor degree in Taiwan and a Ph.D. in Chemistry from the University of Kansas.  He also received a MBA from Wayne State University. Mr. Chao has been an active leader in the Asian-American communities in Michigan and served as the president of the Association of Chinese Americans and the Detroit Chinese Professional and Academic Association.  He currently serves on the board of directors for the Asian Pacific American Chamber of Commerce and Wu Manufacturing for Excellence Foundation.


Mr. Rudy Wilson, CEO of Tongxin International, welcomed Marcus Chao to the board. 'We believe that Mr. Chao's extensive experience in corporate and international business will add great value to our Board', Wilson stated. 'Marcus' experience with lean manufacturing and his work in China for the field will also provide us valuable insight into our own practices and areas we can improve productivity, manage costs and maximize profits.' Wilson commented.


About Tongxin International, Ltd.


Tongxin International Ltd. is the largest independent OEM supplier of EVBS in China. The Company is capable of providing EVBS for both the commercial vehicle and light vehicle market segments, in addition to designing, fabricating and testing dies used in the manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin services more than 130 commercial vehicle manufacturers in China and select export markets.


Cautionary Statement Regarding Forward Looking Information


This press release contains forward-looking information and statements. Forward-looking statements are statements that are not historical facts, including targeted net income. These statements can be identified by the use of forward-looking terminology such as 'believe,' 'expect,' 'may,' 'will,' 'should,' 'project,' 'plan,' 'seek,' 'intend,' or 'anticipate' or the negative thereof or comparable terminology, and statements which may include discussions of strategy, and statements about industry trends future performance, operations and products of the entities referred to above. Our actual results may differ materially depending on a number of risk factors including, but not limited to, our ability to timely and accurately complete orders for our products, our dependence on a limited number of major customers, political and economic conditions within the PRC, our ability to expand and grow our distribution channels, general economic conditions which affect consumer demand for our products, the effect of terrorist acts, or the threat thereof, on consumer confidence and spending, acceptance in the marketplace of our new products and changes in consumer preferences, foreign currency exchange rate fluctuations, our ability to identify and successfully execute cost control initiatives, and other risks outlined above and in the 'risk factors' described in our other public filings.  All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks factors detailed in our reports filed with the Securities and Exchange Commission.  We undertake no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.


SOURCE  Tongxin International, Ltd.



 Source: PR Newswire (December 2, 2008 - 9:03 AM EST)
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      [Press Release] Tongxin International Ltd. to Present at ROTH 'China Comes to Vegas' Conference
      message_962
      17 Nov 2008 08:00:00 GMT
      http://chinasecurities.com/ir/Tongxin/messages/962
      
        NEW YORK and CHANGSHA, China, Nov. 17 /Xinhua-PRNewswire-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC), a China-based manufacturer of engineered vehicle body structures (EVBS) for China's domestic and export commercial vehicle market, today announced that the Company will present at the Roth China Conference in Las Vegas on Thursday, November 20th. The Conference will be held on November 19-21 at Wynn Hotel, Las Vegas.


The Company's presentation will take place at 11:30 a.m. PT in the Palmer 1 Room and management will participate in one-on-one meetings with analysts and investors throughout the three-day event.  Mr. William Zielke, a director for the Company and member of the Board, will present on behalf of Tongxin International.


Management will discuss the Company's performance to date, its current business segments, customer base, and sales channels throughout China plus update investors on its pending joint venture with Meihua Bus.


Participation is by invitation and registration is mandatory. For more information on the conference, contact your Roth representative or visit http://www.roth.com .


About ROTH Capital Partners


ROTH is a full service investment banking firm dedicated to the small and micro-cap market. The firm is privately owned with current principals being majority owners. The core management team has been consistent for many years. Since the inception of the firm in 1984, ROTH has been a leader and innovator in the small and micro cap markets. ROTH's exclusive focus has been, is, and will continue to offer a full spectrum of investment banking services, including raising capital, research coverage, trading and market making, merger and acquisition advisory services, and investor conferences.


About Tongxin International Ltd.


Tongxin International Ltd. is the largest independent OEM supplier of EVBS in China.  The Company is capable of providing EVBS for both the commercial vehicle and light vehicle market segments, in addition to designing, fabricating and testing dies used in the manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders.  Tongxin services more than 130 commercial vehicle manufacturers in China and select export markets.


Forward-looking Statements


Statements contained in this press release, which are not historical fact, including the anticipated date of listing of the Class A Common Stock on the NASDAQ Global Market, constitute 'Forward-Looking Statements.' Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.


SOURCE  Tongxin International Ltd.



 Source: PR Newswire (November 17, 2008 - 9:00 AM EST)
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      [Press Release] Tongxin International, Ltd. Reports Third Quarter 2008 Financial Results
      message_963
      10 Nov 2008 08:01:00 GMT
      http://chinasecurities.com/ir/Tongxin/messages/963
      
        NEW YORK and CHANGSHA, China, Nov. 10 /Xinhua-PRNewswire-FirstCall/ -- Tongxin International Ltd. ('Tongxin') ('Company') (Nasdaq: TXIC) a manufacturer of engineered commercial vehicle body structures ('EVBS'), SUV passenger vehicle bodies and stamped body parts for the Chinese commercial vehicle market, today announced the Company's third quarter financial results ended September 30th, 2008.


    -- Third quarter revenues increased 4.7 % to $22.8 million vs. Q3 2007
    -- Third quarter net income decreased 16.2 % to $2.1 million vs. Q3 2007
    -- Nine-month revenues increased 21.3 % to $76.3 million vs. the same
       period in 2007
    -- Nine-month net income increased 8.0 % to $8.1 million vs. the same
       period in 2007


2008 Third Quarter Financial Results


Net revenues for the third quarter ended September 30, 2008 reached $22.8 million, an approximate $1.1 million or 4.7% increase over the same period of the prior year.  As reported earlier this year, the third quarter for Tongxin International and other companies in the automotive and steel sectors were hampered by factory reductions in preparation for, and during, the Beijing Olympics this summer.  Government restrictions on power and emissions were placed on many automotive manufacturers and supply from steel mills producing cold-rolled steel for the months of July, August and half of September were also reduced.  The effects of these measures anticipated a slow quarter for the entire sector.  As reported by the UK Telegraph on September 21st, manufacturers including both sectors of automotive, passenger and commercial, resumed full production in mid September.  Further adding to the challenges for the third quarter were slowdowns in production as the industry prepared for Euro III emission regulations in China.


Cost of goods sold were $18.5 million in the third quarter 2008, an increase of 13 % versus the same period, 2007.  Gross profits for the third quarter were $4.4 million compared to $5.5 million in the third quarter of 2007.  Gross margin percentages decreased to 19.2% in 2008 from 25.1% for the three months ended September 30, 2007. The decrease was directly attributed to higher costs in raw materials, specifically the 29% price increase in cold- rolled steel since January 1, 2008.  Pricing increases are yet being passed on to customers, particularly Tongxin's largest customers in the Company's network of 130 commercial vehicle manufacturers throughout China.  The Company anticipates a return to its standard gross margins of approximately 25% as steel pricing levels and material increases in contracts are recorded from recent invoices.


Total operating expenses for the third quarter of 2008 were $1.5 million versus $1.4 million for the same period in 2007.  Operating expenses as a percentage of revenues were 6.5% compared with 6.2% for the same period, 2007. Operating income and operating margin for the quarter were $2.9 million and 12.6%, versus $4.1 million and 18.9% in 2007.


Net income was $2.1 million, representing a decrease of 16.2% from $2.5 million reported in the same period prior year.  The net income reflects the $175,000 one-time transaction costs recorded by Tongxin International, Ltd (previously Automotive Acquisition Corporation) for the Company's business combination with Hunan Tongxin.  The Company incurred $521,000 in taxes for the quarter and pays an effective tax rate of 23.5% for the year. Corresponding net profit margins were 9.1% for the quarter which represented a 230-basis point decrease versus the same quarter, 2007.  This decrease was related to increases in raw material costs.  Earnings per share for the quarter was $0.19 based on 11.2 million shares.


'We believe our management team properly estimated the effects of the factory restrictions and associated demands of the Euro III emission standards on our sales and shipments in the third quarter,' opened Rudy Wilson, CEO of Tongxin International.  'Despite our predictions, we were encouraged to see a slight increase in revenues quarter over quarter especially since the same set of circumstances were not present for our 2007 third quarter.  Considering the highly-restrictive environment in which we were operating around the dates of the Olympics, an increase in revenues during third quarter demonstrates the resilience of the commercial market and our position as the leading EVBS supplier,' Wilson concluded.


2008 Nine-Month Financial Results


Revenue increased approximately 21.3% to $76.3 million for the nine months ended September 30, 2008 as compared to $62.9 million for the same period last year.  Operating expenses for the nine months ended September 30, 2008 were $4.7 million compared to $3.9 million for the same period in 2007.  Operating expenses as a percentage of revenues remained steady at 6.2% for the nine months ended September 30, 2008 compared to the same period in 2007. Operating income for the nine months ended September 30, 2008 was $11.9 million, a decrease of 5.3% compared to $12.6 million for the nine months ended September 30, 2007. Net income was $8.1 million for the nine months ended September 30, 2008, an increase of 8.0% compared to same period last year.  Net income for the nine months ended September 30th, 2008 reflected an one-time transaction cost of $320,000 associated with the Company's business combination on April 17th, 2008.  Earnings per diluted share were $0.73 based on 11.2 million shares.


'We are very confident about our business operation and that our team will reach our guidance of the year.  After polling our top customers and scheduling our builds and deliveries of the fourth quarter, the market has responded with added demand pent up from manufacturers and their customers in October.  A combination of lowered steel prices, strong order bookings from our customers and the relaxing of the Euro III compliance time table should result in a return to our standard margins and pace of business we experienced during the first quarter of this year,' Wilson added.


Balance Sheet and Cash Flow Discussion


As of September 30, 2008, Tongxin International had approximately $19.0 million in cash and cash equivalents.  The company maintained a current ratio of 1.1 to 1 and $12.0 million in accounts receivable on September 30, 2008. Corresponding days sales outstanding (DSO) were 47 days.  Stockholders' equity was $34.2 million on September 30, 2008, representing an increase of 52.8% versus same period 2007.


The Company has approximately five million warrants with strike price of $5.00 and callable at $10.00.  If exercised, warrants would yield $25.2 million in proceeds to the company.


Business Outlook


Based on its order bookings and accrued demand for the same time period, the Company anticipates a strong fourth quarter as its customer base completely resumes production and the extension of timetables to meet Euro III regulations.  Additionally, the Company is completing USGAAP audit of Meihua Bus for which a framework agreement was signed on July 28th, 2008. Preliminary results for Meihua Bus indicate higher than expected revenues and net income for the 2008 year.  Tongxin anticipates closing the Meihua acquisition before year end.


    Company News and Events
    -- Tongxin International announced the appointment of Ms. Jackie Chang as
       CFO and CAO of Tongxin International. Ms. Chang's appointment was
       effective November 1, 2008.
    -- Tongxin is participating at the Rodman and Renshaw Growth Conference
       during November 10-12th and conducting a non-deal road show to meet
       with prospective and current investors in the New York area the week of
       the 10th of November
    -- Tongxin will also participate in the Roth China Conference held in Las
       Vegas the 19-21st of November.


Conference Call


The Company will host a conference call on November 10th, 2008, at 5:00 p.m. EST.  To attend the call, please use the dial information below. When prompted, ask for the 'Tongxin International' and or be prepared to provide the conference ID.


    Date:                           November, 10th 2008
    Time:                           5:00 pm ET
    Conference Line Dial-In (U.S.): 1-800-762-8932
    International Dial-In:          +1-480-629-9031
    Conference ID:                  3941507
    Webcast link:                   http://viavid.net/dce.aspx?sid=0000594C


Please dial in at least 10-minutes before the call to ensure timely participation.  A playback will be available through November 17th, 2008.  To listen, please call 800-406-7325 within the United States or +1 303-590-3030 when calling internationally.  Utilize the pass code 3941507 for the replay.


About TXI


Tongxin International Ltd., is the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments, in addition to designing, fabricating and testing dies used in the manufacturing process.  EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders.


Forward Looking Statements


Statements contained in this press release, which are not historical fact, including the anticipated date of listing of the Class A Common Stock on the NASDAQ Global Market, constitute 'Forward-Looking Statements.'  Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC.  Such actors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.


   For more information, please contact:

    Investor Relations Contact:
     John Mattio
     SVP, HC International, Inc.
     Tel:   +1-914-669-5340
     Email: john.mattio@hcinternational.net



                          Tongxin International Ltd.
                    Consolidated Statements of Operations
                     (US$ amounts expressed in thousands)

                                      Three months ended     Nine months ended
                                         September 30,        September 30,
                                        2008       2007       2008       2007
    Total Revenues                     22,849     21,822     76,328    $62,922
    Total Cost of Goods Sold           18,468     16,347     59,713     46,481
    Gross Profit                        4,381      5,475     16,615     16,441

    Operating Expenses:
    Selling and General and Admin.      1,493      1,360      4,698      3,855

    Other Income, net                     151         65        373         80

    Profit before Interest and
     Income taxes                       3,039      4,180     12,290     12,666
    Interest Expense                      437        518      1,667      1,520
    Income before Income taxes          2,602      3,662     10,623     11,146

    Income Tax Expense                    521      1,179      2,498      3,625

    Net Income                          2,081      2,483      8,125      7,521

    Net Income per share-basic          0.186      0.222      0.725      0.671
    Net Income per share-diluted        0.186      0.222      0.725      0.671

    Common shares used in
     calculating basic
     net income per share          11,205,270 11,205,270 11,205,270 11,205,270
    Common shares used in
     calculating diluted           11,205,270 11,205,270 11,205,270 11,205,270
        net income per share
         (Treasury method)


                          Tongxin International Ltd.
                          Consolidated Balance Sheet
                     (US$ amounts expressed in thousands)

                                                 September   December
                                                    30,        31,
                                                   2008       2007
    Assets
    Current assets:
    Cash and cash equivalents                    $19,013     $7,646
    Accounts receivable, net                      12,018     11,382
    Other receivable, net                          7,641      4,309
    Related party                                  6,951     10,056
    Notes receivable                               4,322      5,520
    Inventories                                   17,446     15,403
    Investment in marketable securities               73         --
    Prepaid expenses                               8,518      3,395
    Deferred tax assets                            1,689      1,710
    Total current assets                          77,671     59,421

    Investments in non-consolidated
     subsidiaries and affiliates                     912        820
    Plant and equipment, net of depreciation
     of $9,748 and $13,394, respectively          36,108     28,407
    Land occupancy rights                          2,019      1,876
    Total assets                                 116,710     90,524

    Liabilities and shareholders' equity

    Current liabilities:
    Accounts payable                              17,917     16,215
    Notes payable                                  2,933         --
    Accrued expenses and other liabilities        10,229      7,707
    Income taxes payable                          18,578     11,068
     - current                                     2,321         --
     - prior period/year                          16,257     11,068
    Dividend payable                                  --      5,279
    Short-term loans                              20,533     17,933
    Short-term loans from shareholders             3,152      4,912
    Deferred tax liability                             4          -
    Total current liabilities                     73,346     63,114

    Long-term loans                                   --      4,394
    Long-term loans from shareholders              8,634         --
    Other                                            522        630
    Total liabilities                             82,502     68,138

    Shareholders' equity:
    Common stock (authorized, 39,000,000
     common shares US$0.001 par value, issued
     and outstanding 11,205270 shares)             8,762      8,762

    Reserve funds                                 13,070      1,994
    Accumulated other comprehensive income         2,474      2,421
    Retained earnings                              9,902      9,209
    Total shareholders' equity                    34,208     22,386
    Total liabilities and shareholders'
     equity                                      116,710     90,524



SOURCE  Tongxin International Ltd.



 Source: PR Newswire (November 10, 2008 - 9:01 AM EST)
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