China Zhongwang’s revenue up 38.3% YoY in the six months ended 30 June

China Zhongwang Holdings Limited, the second-largest developer and manufacturer of industrial extruded aluminium products in the world and the largest in Asia, published announced its unaudited results for the six months ended 30 June 2019.

The Group’s overall sales volume increased 63.7 % year on year in the six months on higher sales of industrial extruded aluminium products and aluminium flat-rolled products. Sales volume rose from 325,096 tonnes to 532,275 tonnes.

The Group reported revenue of RMB 12.90 billion in the six months of 2019, an increase of by 38.3 % year on year. Gross profit grew by 32 % year-on-year to RMB 3.91 billion. Net profit for the period stood at RMB 1.47 billion, up15.7 % year on year.

EBITDA came in at RMB 3.4 billion, from last year’s EBITDA of RMB2.8 billion. This records a growth of 21.5% on the year.

Lu Changqing, Chairman and President of China Zhongwang , said, “On the back of the ongoing upgrading and transformation of China’s manufacturing industry, breakthroughs are being made in widening the applications of aluminium alloy, which is dubbed a ‘green metal’, in various industries. The Group’s outstanding capability in research and development, specialisation in high-end products and consistent optimisation of its product mix have enabled it to progressively expand its businesses, providing one-stop light-weight solutions for such high-end applications as ecological construction, new energy vehicles, rail transport, shipbuilding and aviation. The Group always dedicates itself to the aluminium fabrication, therefore it has long been in a leading position in the industry.”