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Six Major Chinese State-Owned Banks Support Zhongwang's Tianjin Aluminium Flat Rolled Project |
| China Zhongwang announced a 10-year syndicated term loan facility agreement in the principal amount of up to RMB20 billion or its equivalent. The Facility was entered into by the Company's wholly owned subsidiary, Tianjin Zhongwang Aluminium Company Limited, with a consortium of six major state-owned banks in mainland China. The Facility is largely RMB-denominated and carries the same base rate as The People's Bank of China of the same duration. The proceeds will be used to support the development of the Company's high value-added aluminium flat rolled product project in Tianjin which is expected to commence production soon. |
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Guotai Junan initiated coverage on China Zhongwang with the issuance of a research report giving Zhongwang a "Buy" rating |
On 24 July, Guotai Junan initiated coverage on China Zhongwang with the issuance of a research report giving Zhongwang a "Buy" rating and a 6-18 month target price of HK$4.68. The report detailed the current application of aluminium extrusion and aluminium flat rolled products in domestic and overseas markets. It stated that there is great potential for high-end aluminium products in the industrial, transportation, and military sectors. Zhongwang can reap the benefits from the growing demand driven by the fast development in the railway transportation, commercial vehicles, as well as other high-tech industries.
The full report could be retrieved at China Zhongwang's Public Wechat Account. Please scan the QR code on the right to view it. |
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Liaoyang Mayor Pei Weidong Leads a Delegation to Visit China Zhongwang |
| Liaoyang Mayor Pei Weidong led a delegation of city and district government officials to visit China Zhongwang. The delegates visited Zhongwang's aluminium alloy vehicle compartment plant, raw material factory, processing factory, smelting and casting facilities to better understand the operation of Zhongwang. |
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Tianjing Zhongwang Participates at the Middle East Aluminium Expo |
| Tianjing Zhongwang participated at the Middle East Aluminium Expo, this year's largest aluminium industry exhibition held at Dubai International Convention & Exhibition Centre in the Middle East. At this major industry event, Zhongwang introduced and showcased a series of its latest product prototypes. |
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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 over 90 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 and equipment installation have been completed for the first production line, which is now in the final stage of equipment testing and is expected to be commissioned by the end of the year. 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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