SORL Auto Parts, Inc.
Seller's NotesSORL Auto Parts, Inc. (Ruili Group Ruian Auto Parts Co., Ltd., ),a Sino-foreign joint venture (the “Joint Venture”), develops, manufactures and distributes automotive brake systems and other key safety related auto parts to Commercial Vehicles and Passenger Vehicles. Management believes that we are the leading commercial vehicle air brake systems manufacturer in China. In general, our customers are divided into three groups: OEMs in China, aftermarket distributors in China, and international customers, accounting for approximately 46.1%, 35.4% and 18.5%,, respectively, of the Company’s annual sales for 2017. We have established long-term business relationships with most of the major vehicle manufacturers in China. We sell our products to 75 vehicle manufacturers, including all of the key truck manufacturers in China. In addition to heavy-duty trucks, our products are also widely used in brake systems for buses. The Company’s Chinese sales network consists of 56 authorized distributors and over 2,000 sub-distributors throughout China. The Company has international sales centers in UAE, the United States and Europe. SORL is working to establish a broader global sales network.