Tuesday, September 27, 2011

Lizhong Wheel

Lizhong Wheel: Received its maiden order of aluminum alloy wheels from Shanghai General Motors, China’s largest auto manufacturer with 1.04m automobiles sold in 2010. This marks co’s qualification as supplier to Shanghai GM and expects to become a key supplier of aluminum alloy wheels to Shanghai GM within the nxt 2 to 3 yrs. Contract amount was not disclosed. Co is has also passed a quality system evaluation by Changan Ford Mazda Automobile, and Changan PSA Automobile and expects to be a potential supplier as well. Lizhong trades at 7.4x current P/E, with hist avg at 6.6x

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