Myiris.com
China Zhongwang's Net Profit Surges 63.5% to RMB1.81billion in 2012
Edited by : AL CIRCLE
2 min read
China Zhongwang Holdings Limited, the second largest industrial aluminium extrusion product developer and manufacturer in the world and the biggest one in Asia and China, announced its audited results for the 12 months ended 31 December 2012. The Group's revenue and profit attributable to equity shareholders amounted to approximately RMB13.5 billion and RMB1.81 billion respectively, representing increases of 31.0% and 63.5% year-on-year. Gross profit margin of the Group was up by 2.6 percentage points to 24.2% during the review year. Basic earnings per shares rose 63.5% to RMB0.33.
China Zhongwang's Executive Director and Vice President Lu Changqing said, "After more than a year of business adjustments, the Group's strategy of focusing on the PRC market paid off, delivering a marked improvement in its financial results. The Group continued to improve operational efficiency by strengthening product development, enhancing production technologies and optimizing equipment mix and capacity. Despite a lackluster global economic recovery pace, China remained one of the most vibrant economies of the world in 2012. Domestic demand for industrial aluminium extrusion products continued to rise steadily. Driven by China's rising demand, the Group's aluminium extrusion products sales volume in 2012 rose 25.6% to 555,670 tonnes. Sales from the China market rose 25.7% to RMB12.37 billion, accounting for 91.6% of the total revenue."
The Group sought continued expansion of the deep processing business in response to demand for these products in international markets. The sales volume of the Group's deep-processed products increased three-fold to 28,000 tonnes. As a result, export sales rose by 141.6% to RMB1.13 billion.
During the review year, the average selling price of aluminium extrusion products stood at RMB23,293 per tonne, up 0.02% when compared to 2011. The Group's gross profit margin rose 2.6 percentage points to 24.2%, of which the gross margin of industrial aluminium extrusion products climbed 3.4 percentage points year-on-year to 25.0%.
China Zhongwang's Executive Director and Vice President Lu Changqing said, "After more than a year of business adjustments, the Group's strategy of focusing on the PRC market paid off, delivering a marked improvement in its financial results. The Group continued to improve operational efficiency by strengthening product development, enhancing production technologies and optimizing equipment mix and capacity. Despite a lackluster global economic recovery pace, China remained one of the most vibrant economies of the world in 2012. Domestic demand for industrial aluminium extrusion products continued to rise steadily. Driven by China's rising demand, the Group's aluminium extrusion products sales volume in 2012 rose 25.6% to 555,670 tonnes. Sales from the China market rose 25.7% to RMB12.37 billion, accounting for 91.6% of the total revenue."
The Group sought continued expansion of the deep processing business in response to demand for these products in international markets. The sales volume of the Group's deep-processed products increased three-fold to 28,000 tonnes. As a result, export sales rose by 141.6% to RMB1.13 billion.
During the review year, the average selling price of aluminium extrusion products stood at RMB23,293 per tonne, up 0.02% when compared to 2011. The Group's gross profit margin rose 2.6 percentage points to 24.2%, of which the gross margin of industrial aluminium extrusion products climbed 3.4 percentage points year-on-year to 25.0%.
Previous article
TMS and ASM International launch a new journal on Energy Materials
Next articleAluminum processors in Henan lose advantage over rising production cost
Grow with
AL Circle
