China XD Plastics (CXDC US)

China XD Plastics Company Limited is a specialty chemical company. The Company is engaged in the research, development, manufacture and sale of modified plastics for automotive applications in China and to a lesser extent, in Dubai, the United Arab Emirates (UAE).

It was alleged that the company has filed reports in China that showed materially smaller amounts of revenue and net income for fiscal years 2010-2012 than its SEC filings. A lawsuit was filed in Jul 2014, and the case was dismissed in Mar 2016.

On 17 Feb 2017, the company chairman offered a buyout at $5.21 per share without disclosing the expansion plans of existing facilities and construction of a new production plant. The share was valued at $58.32 by Jason Cooper.

China XD Plastics: 2013 Annual Report, 26 Mar 2014

Seeking Alpha: China XD Plastics: Management’s Buyout Is Woefully Inadequate, 8 Sep 2017

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