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China Zenix Auto International Limited (OTC: ZXAIY) announced the completion of its merger with Newrace Mergersub Limited, resulting in the Company becoming a wholly-owned subsidiary of Newrace Limited. Shareholders will receive $0.27 per ordinary share and $1.08 per American depositary share (ADS) in cash. This merger follows shareholder approval on January 21, 2022, and effective January 28, 2022, the listing of ADSs will be suspended on the OTC Pink tier. The Company will also file a Form 15 to suspend its reporting obligations under the Securities Exchange Act.
China Zenix Auto International Limited (OTC: ZXAIY) has convened a General Meeting of shareholders on January 21, 2022, in Beijing to discuss the approval of a merger with Newrace Limited. This merger, proposed in the Merger Agreement dated October 19, 2021, would make Zenix a privately held entity, leading to the delisting of its American depositary shares (ADS) from the OTC markets. Shareholders eligible to vote must be recorded by December 20, 2021. Zenix is the largest commercial vehicle wheel manufacturer in China, with extensive production capabilities.
China Zenix Auto International Limited (OTC: ZXAIY), a leading commercial vehicle wheel manufacturer in China, will release its unaudited financial results for Q3 2021 on November 30, 2021, before market opening. The company operates six manufacturing facilities with an annual production capacity of approximately 15.5 million wheels. It offers over 800 series of wheels, servicing both the aftermarket and OEM markets. Zenix Auto products are exported to more than 54 distributors across 24 countries.
China Zenix Auto International Limited (OTC: ZXAIY) reported its Q2 2021 financial results, showing revenue of RMB 527.2 million (US$81.7 million), a 5.0% year-over-year increase. The company experienced a net loss of RMB 244.0 million (US$37.8 million), significantly larger than the loss of RMB 78.6 million in Q2 2020. Sales to the OEM market grew by 10.4%, while aftermarket sales declined. Rising raw material costs have contributed to the losses. As of June 30, 2021, Zenix Auto had cash and equivalents of RMB 434.3 million (US$67.3 million).
China Zenix Auto International Limited (OTC: ZXAIY) plans to release its unaudited financial results for Q2 ended June 30, 2021, on August 31, 2021, before market opening. As one of China's largest commercial vehicle wheel manufacturers, Zenix Auto offers over 800 series of wheels and has an annual production capacity of approximately 15.5 million units. The company's products are sold to major PRC commercial vehicle manufacturers and exported globally. A conference call will follow the earnings release for investor inquiries.
China Zenix Auto International Limited (OTC: ZXAIY), a leading commercial vehicle wheel manufacturer in China, is set to release its unaudited financial results for Q1 2021 on May 26, 2021, before market opening. The company produces over 883 series of wheels and has a production capacity of approximately 15.5 million units annually. This financial disclosure follows the impact of the coronavirus on the automotive industry. For participation in the earnings call, stakeholders can connect via specified phone numbers.
China Zenix Auto International Limited (OTC: ZXAIY) plans to release its unaudited financial results for Q4 and fiscal year 2020 on March 31, 2021, before the market opens. The Company is one of China's largest commercial vehicle wheel manufacturers, offering approximately 948 series of wheels. With a production capacity of 15.5 million units annually, it exports to over 68 distributors in more than 27 countries. Interested investors can participate in the conference call to discuss results using provided dial-in details.
China Zenix Auto International Limited (OTC: ZXAIY) reported a significant decline in financial results for Q1 2020, with revenue of RMB320.8 million (US$45.3 million), down 52.1% year-over-year. The company experienced a net loss of RMB60.6 million (US$8.6 million), compared to a net loss of RMB4.5 million in Q1 2019. Sales in the Chinese OEM market dropped 51.9%, while aftermarket sales decreased by 56.4%. Despite these challenges, Zenix Auto maintained a strong cash position with approximately US$163 million in bank balances as of March 31, 2020, and remains focused on financial strength during this pandemic period.
