UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 or 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Commission File Number: 333-147086-01
TONGXIN INTERNATIONAL LTD.
_____________________________________________________________________
(Translation of Registrant's Name into English)
199 Pierce Street,Suite 202
Birmingham, Michigan 48009
_____________________________________________________________________
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
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paper as permitted by Regulation S-T
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Indicate by check mark if the registrant is submitting the Form 6-K in
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registrant foreign private issuer must furnish and make public under the
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or legally organized (the registrant's "home country"), or under the rules
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as long as the report or other document is not a press release, is not
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Indicate by check mark whether the registrant by furnishing the information
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Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes [ ] No [X]
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in connection with Rule 12g3-2(b):
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Exhibit 1: Financial Statements of Fiscal Year of 2007 of Tongxin
International Ltd.
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
TONGXIN INTERNATIONAL LTD.
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(Registrant)
By: /s/ William R. Herren
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Name: William R. Herren
Title: Chairman and CEO
/s/ Rudy Wilson
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Name: Rudy Wilson
Title: COO
Date: April 30, 2008
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Exhibit 1: Financial Statements of Fiscal Year of 2007 of Tongxin
International Ltd.
Tongxin International Ltd. Reports Record Selected Financial Results for
the Fiscal Year of 2007 - Annual Consolidated Revenue and Net Income
Increased by 34.9% and 62.4% Year-Over-Year, Respectively.
NewYork, April 30, 2008/Beijing-PRNewswire-FirstCall/--Tongxin International
Ltd. (OTCBB: AAAC), the largest independent supplier of Engineered
Vehicle Body Structures ("EVBS") in China, today announced selected
financial results for the Year ended December 31 of 2007.
Fiscal Year 2007 Highlights:
* Record consolidated revenue of US$ 89.9 million, an increase of 34.9%
year-over-year.
* Record EBITDA of US$16.8 million, and increase of 33.3% compare to 2006.
* Record net income of US$ 10.0 million, an increase of 62.4% year-over-year.
* Adjusted net income of $10,524,000 (one-time transaction fee of
US$ 524,000, which is incurred for legal, audit professional fees, has been
included in selling, general and administrative expenses)
"We are very pleased to report record growth for the 2007 calendar year as
we continue to participate in the rapidly expanding vehicle market in China.
Sales revenue for the calendar year grew by $23.3 million, a 34.9% increase
from the same period of 2006. This increase in revenue was driven by
increased sales to our existing customers as well as bringing on line new
customers with new products. In addition, we continue to see increased value
added in our product mix with more customers requesting completed cabs."
stated Mr. William R. Herren, Chairman and CEO of Tongxin International Ltd.
As of the close of the deal 12,880,250 shares were outstanding.
Summary of Selected Financial Results for Fiscal Year 2007
(All numbers in US$ thousands)
Years Ended December 31,
2007 2006 Change %
---------- ----------- ----------
Consolidated Revenues $ 89,873 $ 66,605 34.9 %
Cost of Goods Sold 69,865 51,456 35.8 %
Gross Profit 20,008 15,149 32.1 %
Total Operating Expenses 5,372 4,800 11.9 %
Income from Operations 14,636 10,349 41.4 %
Net Income 10,019 6,169 62.4 %
Depreciation/Amortization 2,122 2,220 (4.4) %
About Tongxin International Ltd.
Tongxin International, is the largest independent supplier of Engineered
Vehicle Body Structures ("EVBS") in China, capable of providing products
for both light, medium-sized and heavy-duty and van in addition to designing,
fabricating and testing dies used to stamp automotive body panels. EVBS
consists of exterior body panels including doors, floor pans, hoods, side
panels, fenders. Hunan Tongxin also manufactures complete cab structures
for commercial vehicles. Tongxin International's components must meet exacting
dimensions for fit and finish before they are assembled and finally painted.
These capabilities enable it to participate effectively in all sectors of
the automotive market including light and commercial vehicles.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, about Hunan Tongxin,
Tongxin International and their combined business and revenue expectations
after completion of the proposed merger. Forward-looking statements are
statements that are not historical facts. Such forward-looking statements,
based upon the current beliefs and expectations of Tongxin International and
Hunan Tongxin's management, are subject to risks and uncertainties, which
could cause actual results to differ from the forward looking statements.
The following factors, among others, could cause actual results to differ
from those set forth in the forward-looking statements: business conditions
in China; continued compliance with government regulations; legislation or
regulatory environments, requirements or changes adversely affecting the
businesses in which Hunan Tongxin is engaged; cessation or changes in
government incentive programs: potential trade barriers affecting
international expansion; fluctuations in customer demand; management of
rapid growth and transitions to new markets; intensity of competition from
or introduction of new and superior products by other providers of
distributed automotive engineered vehicle body structures; timing, approval
and market acceptance of new product introductions; general economic
conditions; geopolitical events and regulatory changes, as well as other
relevant risks detailed in Tongxin International's filings with the
Securities and Exchange Commission, and the Preliminary Proxy Statement/
Prospectus (Reg. No. 333-147086-01). The information set forth herein should
be read in light of such risks. Neither Tongxin International nor Hunan
Tongxin assumes any obligation to update the information noted within in this
press release.
For further information, please contact:
Mr. William R. Herren
Chairman and CEO
Mr. Rudy Wilson
COO
Tel: 1-248-593-8330