China Zhongwang Holdings releases its results for the first three quarters

China Zhongwang Holdings Limited released its results for the first three quarters of 2014. The world’s second largest aluminium extrusion product developer and manufacturer showed a gross profit expansion of 1.0 percent to 28.6% as revenue increased by 12.6% to approximately RMB12.31 billion.

During this nine-month period, the profit attributed to shareholders has also increased to 24.0% compared to last year to approximately RMB 1.95 billiion.

The sale volume of aluminium extrusion produced by the company rose by 15.9% to approximately 574,000 tonnes. Deep-processed products that constitute about 9% of the total sales volume amounted to roughly 51,000 tonnes, contributing almost 11.25% to the total revenue.

The Group owns 92 aluminium extrusion production lines with the capacity of producing over 1 million tonnes. The sales revenue in the first three quarters increased 11.3% YOY amounting to approximately RMB 10.16 billion making it the Group’s stable source of income and profits.

The sales revenue for the deep-processed aluminium products grew by 22.7% to RMB 1.38 billion while oversees revenue increased by 29.8% to RMB 1.70 billion. The company even produced many successful prototypes in this field during the review period including aluminium intensive fire-trucks, semi-trailers, refuse collection vehicles, oil tank trucks and railway carriages.

During this period, the company also made a formal entry into aluminium flat rolled products with the construction of its new project located at Tianjin Wuqing Auto Parts Industrial Park. The plant is said to be operational in the second half of 2015.