Investigation Overview
An investigation on behalf of investors of China Zenix Auto International Limited (NYSE: ZX) shares over potential securities laws violations by China Zenix Auto International and certain of its directors and officers in connection with certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of China Zenix Auto International Limited (NYSE: ZX) concerning whether a series of statements by China Zenix Auto International regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Zhangzhou, China based China Zenix Auto International Limited designs, manufactures, and sells commercial vehicle wheels to aftermarket and original equipment manufacturers in the People's Republic of China and internationally. China Zenix Auto International Limited reported that its annual Total Revenue rose from 323.69 million CNY in 2016 to 434.73 million CNY in 2017 and that its Net loss of 3.73 million CNY in 2016 turned into a Net Income of 1.39 million CNY in 2017.
On June 15, 2018, China Zenix Auto International Limited announced that the NYSE decided to delist the company's stock from its exchange, effective as of June 14, 2018.
Sahres of China Zenix Auto International Limited (NYSE: ZX) closed on June 14, 2018, at $1.38 per share.