Qiao Xing Communications (PINK:QXMCF)

BEIJING, January 9, 2012 /PRNewswire-Asia-FirstCall/ -- Qiao Xing Mobile Communication Co., Ltd. ("QXM" or the "Company") (NYSE: QXM), a domestic manufacturer of mobile handsets in China, received a letter from the New York Stock Exchange (the "NYSE") on December 15, 2011 stating that the average closing price of the Company's security had been less than $1.00 over a consecutive 30-trading-day period, which means the Company has fallen below the NYSE's minimum share price continued listing standard as established in Section 802 of the NYSE Listed Company Manual. The NYSE letter has no immediate effect on the listing of the Company's common stock.

In accordance with applicable rules in Sections 801 and 802 of the NYSE Listed Company Manual, the Company has six months upon receipt of the notification to regain compliance by bringing its share price and average share price back above $1.00.

In the event that at the expiration of the six-month cure period, both a $1.00 share price and a $1.00 average share price over the preceding 30 trading days are not attained, the NYSE will commence suspension and delisting procedures.

The Company has notified the NYSE of its intention to cure the price deficiency. The Company is closely monitoring the trading price of its shares and will consider taking further actions to comply with the minimum share price requirements as appropriate.