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China Zenix Auto sees profit climb 1% to US$21.5 mln in Q1

May. 10, 2012 (China Knowledge) - China Zenix Auto International Ltd<ZX>, the largest commercial vehicle wheel manufacturer in China in both the aftermarket and OEM market by sales volume, reaped US$21.5 million in net profit in the first quarter of this year, reflecting a year-on-year increase of 1%.

Earnings per American Depositary Share for the first quarter were RMB 2.62 or US$0.42.
During the period from January to March 2012, the U.S.-listed firm's revenue totaled RMB 1.04 billion, up 1% year-on-year from nearly RMB 1.04 billion.

Gross profit remained stable at RMB 286.1 million with gross margin of 27.4% in the first quarter of 2012, compared with RMB 286.8 million in gross profits and 27.7% in gross margin for the same period of last year.

The Chinese auto wheel supplier had RMB 725.9 million in cash and RMB 20 million in short-term investments as of Mar. 31, 2012,

In addition, the company expects its revenue for this year would reach approximately RMB 4.5 billion.

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