Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date
of
Report (Date of Earliest Event Reported): September 25, 2007
CHINA
AUTOMOTIVE SYSTEMS, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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000-33123
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33-0885775
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(State
or other jurisdiction of
incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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No.
1 Henglong Road, Yu Qiao Development Zone
Shashi
District, Jing Zhou City
Hubei
Province
People’s
Republic of China
(Address
of principal executive offices (zip code))
(86)
716-832-9196
(Registrant's
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2 below):
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -
12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers; Compensatory Arrangement of Certain
Officers.
Item
9.01 Financial Statements and Exhibits.
Item
5.02
Departure of Directors or Principal Officers; Election of Directors; Appointment
of Principal Officers; Compensatory Arrangement of Certain
Officers.
On
September 25, 2007, Mr. Qizhou Wu, aged 42, was appointed as the Chief Executive
Officer of the Company. As the principal executive officer, Mr. Wu will be
responsible for the management of the Company. Prior to his appointment as
the
CEO of the Company, Mr. Wu was the Chief Operating Officer of the Company from
March 2003 to September 2007. He was the General Manager of Jingzhou Henglong
Automobile Parts Manufacture Co. Ltd. from September 1999 to December 2002
. He
has also been the President of Hubei Henglong Industry Group since August 2003.
Mr. Wu has not had any related transactions or currently proposed transactions
with the Company since the beginning of the Company’s last fiscal year, in which
the amount exceeds US$120,000, and in which Mr. Wu had or would have a direct
or
indirect material interest. There is no family relationship between Mr. Wu
and
any director, executive officer, or any person nominated or chosen by the
Company to become a director or executive officer of the Company.
The
Company entered into an employment agreement with Mr. Wu in connection with
his
promotion, which will take effect from September 25, 2007. Mr. Wu will receive
an annual base salary of US$100,000 plus an annual discretionary bonus and
separation benefits. Mr. Wu’s employment agreement is attached hereto as Exhibit
99.1.
On
September 25, 2007, Mr. Jie Li, aged 38, was appointed as the Chief Financial
Officer of the Company. As the principal financial officer, Mr. Li will be
responsible for the financial management of the Company. Prior to his
appointment as the CFO of the Company, Mr. Li served as the Corporate Secretary
of the Company from December 2004 to September 2007. Prior to joining the
Company in September 2003, Mr. Li was the Assistant President of Jingzhou
Jiulong Industrial Inc from 1999 to 2003 and the general manger of Jingzhou
Tianxin Investment Management Co. Ltd. from 2002 to 2003. Mr. Li has not had
any
related transactions or currently proposed transactions with the Company since
the beginning of the Company’s last fiscal year, in which the amount exceeds
US$120,000, and in which Mr. Li had or would have a direct or indirect material
interest. There is no family relationship between Mr. Li and any director,
executive officer, or any person nominated or chosen by the Company to become
a
director or executive officer of the Company.
The
Company entered into an employment agreement with Mr. Li in connection with
his
hiring, which will take effect from September 25, 2007. Mr. Li will receive
an
annual base salary of US$60,000 plus an annual discretionary bonus and
separation benefits. Mr. Li’s employment agreement is attached hereto as Exhibit
99.2.
Item
9.01
Financial Statements and Exhibits
Exhibits
Exhibit
99.1 Employment Agreement with Qizhou Wu
Exhibit
99.2 Employment Agreement with Jie Li
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 hereunto
duly authorized.
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CHINA
AUTOMOTIVE SYSTEMS, INC.
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Date:
September 25,
2007
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By: |
/s/ Hanlin
Chen
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Hanlin
Chen
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Chairman
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