Mr. Wu Rui Lin commented that his planning of purchasing shares in Xing, as well as the recently announced re-purchase program by company’s subsidiary Qiao Xing Mobile, demonstrates the strong confidence of companies’ management.

BVI company’s CEO also said that the temporary sales decrease in Qiao Xing was primarily due to the heavy earthquake that happened in Sichuan, China, and the performance of the company would be better after some adjustments will be made to its business strategy. He said that, from the company level, more measures will be considered to increase its value.

The director of BVI registered UTi Worldwide Allan M. Rosenzweig reported in a Form 4 filed with the SEC that he bought the shares for $22.49 to $22.50 a piece.

Form 4s is filed with the SEC by companies’ insiders to report transactions in their companies’ shares. Open market purchases and sales should be reported within two business days of the transaction.