On 05/15/2008, Asia Automotive Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Asia Automotive Acquisition Corp. announced earnings results for the first quarter ended March 31, 2008. For the quarter, the company reported total revenue of $30.3 million, an increase of 49.3% compared to the fourth quarter 2007; and an increase of 26.7% compared to the same period of last year. Net income was $3.8 million, an increase of 65.9% compared to the fourth quarter 2007; and an increase of 38.4% compared to the same period last year.

Asia Automotive Acquisition Corp. reported earnings results for the fiscal year of 2007. For the year, the company reported a net income of $10,019,000 on a consolidated revenue of $89,873,000 against a net income of $6,169,000 on a consolidated revenue of $66,605,000 in 2006. Revenue increased a 34.9% year-over-year. Net income increased of 62.4% year-over-year. Adjusted net income of $10,524,000 (one-time transaction fee of $524,000, which is incurred for legal, audit professional fees. It has been included in selling, general and administrative expenses).