The story
Founded in 1993 by Liu Zhongtian, Zhongwang expanded rapidly through the 2000s and completed a US$1.26 billion IPO in May 2009—then the largest globally that year. In 2011, the company began developing its aluminium flat rolling business and invested over US$3.8 billion into production equipment and facilities in Tianjin.
In 2019, the U.S. Department of Justice charged Zhongwang with allegedly evading US$1.8 billion in anti-dumping duties by disguising aluminium exports as pallets. The company denied the accusations. Trading in China Zhongwang shares was suspended on August 30, 2021.
From Wikipedia’s article on China Zhongwang, shared under CC BY-SA 4.0.4