China Zenix Announces Resignation of Chief Financial Officer - KMPH FOX 26 | Central San Joaquin Valley News Source

China Zenix Announces Resignation of Chief Financial Officer

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SOURCE China Zenix Auto International Limited

ZHANGZHOU, China, Feb. 24, 2014 /PRNewswire/ -- 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 sales volume, today announced that Mr. Yifan Li has tendered his resignation as the Company's Chief Financial Officer for personal reasons effective February 28, 2014.

The Company is commencing a search for a new chief financial officer.

Mr. Jianhui Lai, Chairman and Chief Executive Officer of Zenix Auto, commented, "We thank Yifan for his many invaluable contributions to our growth and the achievement of our strategic goals. I am grateful for his counsel and he has been a strong leader during challenging times in the auto industry. Since joining us in December 2010, Yifan has built a strong financial team and helped guide Zenix Auto through its Initial Public Offering in the United States and the transition to reporting as a public company. We appreciate his dedication and wish him the very best for the future."

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 430 series of tubed steel wheels, tubeless steel wheels, and off-road steel wheels in both the aftermarket and OEM market in China and internationally. The Company's customers include group members of a number of large PRC commercial vehicle manufacturers, and it also exports products to over 80 distributors in more than 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 15.0 million units of steel wheels as of September 30, 2013. For more information, please visit: http://www.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. The Company may make written or oral forward-looking statements in its periodic reports to the SEC, 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 the Company'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. Further information regarding these risks is included in our filings with the SEC. The Company 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 the Company undertakes no duty to update such information, except as required under applicable law.

For more information, please contact

Investor Contact:

Kevin Theiss / Shiwei Yin
Grayling
Tel: +1-646-284-9409
Email: kevin.theiss@grayling.com / shiwei.yin@grayling.com

Media Contact:

Ivette Almeida
Grayling
Tel: +1 917-302-9946
Email: ivette.almeida@grayling.com

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