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 Of
The
Securities Exchange Act Of 1934
FOR
THE MONTH OF JANUARY 2008
COMMISSION
FILE NUMBER: 001-33602
HLS
SYSTEMS INTERNATIONAL, LTD.
(Translation
of registrant's name into English)
10
Jiancaicheng Middle Road
Xisanqi,
Haidan District
Beijing,
People's Republic of China
(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
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Form
40-F o
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1):__
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7):__
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
|
Yes
o
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No
x
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If
"Yes" is marked, indicate below the file number assigned to the registrant
in
connection with Rule 12g3-2(b): 82-________.
The
following exhibits are submitted herewith
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Exhibit
Number
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|
Description
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99.1
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Press
Release dated December 27, 2007
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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.
| HLS SYSTEMS INTERNATIONAL, LTD. | |||
| |
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| By: |
/s/
Wang Changli
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||
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Name:
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Wang
Changli
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Title:
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President
and Chief Executive Officer
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||
Date:
January 7, 2008
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CONTACT:
Dr.
Wang Changli
(8610)
5898 1332
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-OR-
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INVESTOR
RELATIONS COUNSEL:
The
Equity Group Inc.
Adam
Prior
(212)
836-9606
aprior@equityny.com
|
FOR
IMMEDIATE RELEASE
HLS
SYSTEMS INTERNATIONAL COMPLETES REDEMPTION OF ALL
WARRANTS
Beijing,
China - December 27, 2007 - HLS Systems International, Ltd. (OTCBB: HLSYF)
(“HLS”) today
announced that it
has
completed the previously announced redemption of its warrants that traded under
the ticker symbol HLSWF. The
redemption date for the warrants was December 17, 2007.
There
were originally 11,500,000 warrants issued in connection with the August 2005
initial public offering of Chardan North China Acquisition Corp., a specified
purpose acquisition corporation that merged with HLS in September 2007. Each
warrant entitled the holder to purchase from HLS one share of the Company’s
common stock at an exercise price of $5.00. Prior to redemption, a total of
11,442,614 warrants were exercised, equal to approximately 99.5% of all warrants
originally issued. The remaining 57,386 warrants were cancelled at redemption
and the holders of those warrants will be paid the sum of $0.01 per warrant.
HLS
received total proceeds from all warrant exercises of approximately $57.2
million. As of December 26, 2007, there are approximately 41.9 million shares
of
HLS’ common stock issued and outstanding.
Dr.
Wang
Changli, HLS’ Chief Executive Officer, stated, “We have significantly
strengthened HLS’ cash position and net worth. As one of the largest and most
technologically advanced automation control systems companies in China, we
plan
to continue to grow our businesses aggressively in different segments. This
capital infusion will be crucial in those efforts.”
About
HLS Systems
HLS
has
become one of the leading automation systems providers in the PRC, developing
a
number of core technologies and completing numerous projects utilizing a wide
array of automation products. The Company specializes in the research,
development, production, sale and distribution of industrial automation and
control systems, competing effectively with both domestic Chinese companies
and
large, multinational participants in the industrial, rail and nuclear power
sectors.