China Zenix Confirms 2011 Revenue Guidance of Approximately RMB 4 Billion

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  Published in House and Home on Friday, December 2nd 2011 at 3:41 GMT by Market Wire
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China Zenix Confirms 2011 Revenue Guidance of Approximately RMB 4 Billion -- ZHANGZHOU, China, Dec. 2, 2011 /PRNewswire-Asia/ --

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"Bridge Arc" Wheels Continue Strong Growth in November 2011

ZHANGZHOU, China, Dec. 2, 2011 /PRNewswire-Asia/ -- China Zenix Auto International Limited (NYSE: [ ZX ]) ("Zenix Auto" or "the Company"), the largest commercial vehicle wheel manufacturer in China in both the aftermarket and OEM market by sale volume, today announced that management confirms revenue guidance of approximately RMB 4 billion for the 2011 year ending December 31st.

In January 2011, Zenix Auto introduced its patented "Bridge Arc" wheel, which is based on an architectural design borrowed from the legendary thousand-year-old stone bridge in Northern China. This new wheel design features heightened strength with substantially lighter weight, providing fuel savings for truck operators in a rising fuel environment.

Monthly unit sales have experienced vigorous growth from approximately 3,500 units in April 2011 to nearly 60,000 in October 2011 with a further increase to almost 63,400 units in November 2011.

Mr. Jianhui Lai, Chairman and CEO of China Zenix, commented, "We remain confident that we will achieve our 2011 revenue guidance due to the strong demand in the 2011 fourth quarter for our fuel-saving new bridge arc wheels, which continue to attract more truck operators."

About China Zenix Auto International Limited

China Zenix Auto International Limited is the largest commercial vehicle wheel manufacturer in China in both the aftermarket and OEM market by sales volume. With a large intellectual property portfolio, the Company offers more than 230 series of tubed steel wheels, tubeless steel wheels, and off-road steel wheels in both the aftermarket and OEM market in China and internationally. Zenix Auto's customers include group members of a number of large PRC commercial vehicle manufacturers, and it also exports products to over 70 distributors in 30 countries worldwide. With five large, strategically located manufacturing facilities in multiple regions across China, the Company has an aggregate annual production capacity of approximately 12.5 million units of steel wheels as of December 31, 2010. For more information, please visit: [ http://zenixauto.com/en ].

Safe Harbor

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, the revenue guidance and quotations from management in this announcement, as well as Zenix Auto's strategic and operational plans, contain forward-looking statements. Zenix Auto may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees.  Statements that are not historical facts, including statements about Zenix Auto's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: our growth strategies; our future business development, including our ability to successfully develop new tubeless steel wheel products and the planned introduction of aluminum wheels; our ability to expand our distribution network; overall growth in the aftermarket and OEM market in China and elsewhere, which depends on a number of factors beyond our control including economic growth rates and vehicle sales; and changes in our revenues and certain cost or expense items as a percentage of our revenues. Further information regarding these and other risks is included in our filings with the United States Securities and Exchange Commission, including our final prospectus dated May 11, 2011. Zenix Auto does not undertake any obligation to update any forward-looking statement, except as required under applicable law.  All information provided in this press release and in the attachments is as of the date of the press release, and Zenix Auto undertakes no duty to update such information, except as required under applicable law.  

SOURCE China Zenix Auto International Limited

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