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China Zhongwang 2015 First Quarter Net Profit Rises 15.9% to RMB 580 Million |
| On 22 April, China Zhongwang (stock code: 01333), announced its unaudited consolidated results for the three months ended 31 March 2015 (the “review period”). While quarterly revenue remained flat at approximately RMB3.59 billion, the Group benefited from the increasing share of high-end aluminium extrusion products in its product mix and achieved 2.5 percentage points year-on-year increase in gross margin to 29.3%. Net profit increased by 15.9% to RMB580 million. |
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| 2014 China Zhongwang Corporate Milestone |
| China Zhongwang summarized its 2014 corporate milestones. Among them were the proceeds of HK$4.23 billion raised through an open offer of ordinary shares and/or unlisted convertible preference shares, "2014 Top 500 Private Enterprises in China", and the honor of the first “Liaoning Industry Grand Award”. |
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"One Belt One Road" Initiative Offers New Opportunities |
| Driven by favorable national policies in relation to energy saving and light-weight development trends, the application of aluminium in downstream sectors such as transportation, machinery & equipment and electric engineering has been increasing. Coupled with new aluminium alloy and aluminium processing technology, the market potential for aluminium processed products is enormous. |
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About China Zhongwang Holdings Limited
China Zhongwang is the second largest industrial aluminium extrusion product developer and manufacturer in the world and the biggest one in Asia. It has, over the years, been focusing on the light-weight development of transportation, machinery and equipment and electric power engineering sectors through the provision of quality industrial aluminium extrusion products. It now has 93 internationally advanced aluminium extrusion production lines including 21 production lines of large-scale aluminium extrusion presses of 75MN or above.
In addition, to further leverage its existing strengths in the industry, the Group is developing the high value-added aluminium flat rolled product project. With a total designed annual production capacity of 3 million tonnes, the project is scheduled for development in two phases. Phase I of the project with a planned annual production capacity of 1.8 million tonnes consists of two production lines. Plant construction has been completed and equipment installation and testing is underway, to be followed closely by trial operation. This new business venture will not only enable the Group to further capitalize on its leading edge in aluminium alloy smelting and casting and product research and development, but also achieve synergies with its existing industrial aluminium extrusion and deep processing businesses by taking full advantage of their customer and market resources in related downstream application sectors.
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