Wuhan, PRC, Dec. 13, 2017 (GLOBE NEWSWIRE) -- Yangtze River Development Limited, (NASDAQ GLOBAL SELECT MARKET: YERR) (the “Company”), an international infrastructure company that engages in the business of real estate development via a port logistic project located in the middle reaches of China’s Yangtze River in Wuhan City, announced today the Year End Shareholder Meeting Update.
The Company believes it will benefit from new government initiatives within the People’s Republic of China (the “PRC”), including the recent designation of the Yangtze River New District as a tax free / free trade zone. In addition to its prime location and status as a major infrastructure player in the (OBOR) One Belt One Road initiative, the company is also well positioned to benefit from recent thawed relations between the PRC and the United States and the economic opportunities that it represents.
In May of this year the Company announced that it had hired a new CFO, Mr. Tze-Kit “Jerry” Chan. Mr. Chan has an MBA from The Chinese University of Hong Kong and is a CPA and member of the American Institute of CPA’s
In April of this year, YERR was up-listed from the OTCQX to the NASDAQ Capital Markets and, subsequently, was up-listed in August to The NASDAQ Global Select Market, which has the highest initial listing standards of any of the world’s stock markets. When the company completed its reverse merger in 2015 the valuation at that time was $10.00 per share and the company reached a milestone this year by surpassing that initial valuation and currently has a $2.6 Billion dollar market cap, adding over one billion dollars in market valuation this year.
See Thru Equity upgraded their Buy recommendation in May to $13.25 and subsequently increased its price target to $23 in September; copies of these research reports are available upon request.
The company believes that it has laid the foundation this year for successful access to the highest level of the US capital markets in 2018 and is currently exploring multiple funding partners.
ABOUT YANGTZE RIVER DEVELOPMENT LTD.:
Yangtze River Development Limited primarily engages in the business of real estate development with a port logistic project located in the middle reaches of the Yangtze River. Wuhan Newport is a large infrastructure development project implemented under China's latest “One Belt One Road” initiative and is believed to be strategically positioned in the anticipated “Free Trade Zone” of the Wuhan Port, a crucial trading window between China, the Middle East and Europe. To be fully developed upon completion of three phases, within the logistics center, there will be six operating zones, including port operation area, warehouse and distribution area, cold chain logistics area, rail cargo loading area, exhibition area and residential community. The logistics center is also expected to provide a number of shipping berths for cargo ships of various sizes. Wuhan Newport is expected to provide domestic and foreign businesses a direct access to the anticipated Free Trade Zone in Wuhan. The project will include commercial buildings, professional logistic supply chain centers, direct access to the Yangtze River, Wuhan-Xinjiang-Europe Railway and ground transportation, storage and processing centers, IT supporting services, among others.
For additional information please go to: http://www.yerr.com.cn
FORWARD-LOOKING STATEMENTS:
This document includes “forward-looking” statements, as that term is defined in the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. Forward-looking statements are any statements other than statements of historical fact, including statements regarding Company's expectations, beliefs, hopes, intentions or strategies regarding the future. Among other things, these forward-looking statements may include statements regarding the change of Company's plan of operation, future opportunities as a result of the matter referenced in the above statements; and any other statements regarding Company's future beliefs, expectations, plans, intentions, financial condition or performance. In some cases, forward-looking statements can be identified by the use of words such as “may,” “will,” “expects,” “should,” “believes,” “plans,” “anticipates,” “estimates,” “predicts,” “potential,” “continue,” or other words of similar meaning. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those discussed in, or implied by, the forward-looking statements. Factors that might cause such a difference include, but are not limited to, general economic conditions, our financial and business prospects, our capital requirements, our financing prospects, our relationships with employees, and our ability to realize the anticipated benefits of such transaction, and those disclosed as risks in other reports filed by us with the Securities and Exchange Commission, including those described in our most recently filed Quarterly Report on Form 10-Q, Annual Report on Form 10-K and subsequent amendment on Form 10-K/A, current report on Form 8-K, and other filings with the SEC.
We caution readers that any such statements are based on currently available operational, financial and competitive information, and they should not place undue reliance on these forward-looking statements, which reflect management's opinion only as of the date on which they were made. Except as required by law, we disclaim any obligation to review or update these forward-looking statements to reflect events or circumstances as they occur.