China Zenix Auto has entered into a Memorandum of Understanding to form a strategic partnership with SinoTruk (Hong Kong) Limited (3808.HK) ("SinoTruk"), a subsidiary of China National Heavy Duty Truck Group, the third largest heavy-truck manufacturer in Mainland China.
Management's revenue guidance for the year ending December 31, 2011 is approximately RMB 4.0 billion. "With the capital infusion from our IPO, we will continue to further broaden our exclusive distribution network in China and increase investment in R&D. We are encouraged by the growing acceptance of our higher value added tubeless wheels in China. We believe that our newly strengthened financial resources will enable us to achieve our long-term strategic plans in China and India, as well as other potential markets."