
China Zhongwang Holdings Limited, a world-leading fabricated aluminium products developer and manufacturer, has announced results for the first quarter of 2019. The Group has reported revenue of RMB6.2 billion in Q1, up 74.1% year-on-year. Gross profit for the quarter increased 62.3% year-on-year to RMB1.8 billion. Net profit stood at RMB618 million, up 15.4% year-on-year.

The Group's total sales volume stood at 262,025 tonnes, up 101% from 130,385 tonnes in the same period last year, due to strong demand for aluminium alloy formwork and fabricated products from transportation segment. Increased capacity utilisation of flat rolling and industrial aluminium extrusion could also be attributed for the rise in sales volume.
Mr. Lu Changqing, Chairman and President of China Zhongwang , said, "Riding on the upgrades of aluminium alloy applications, China Zhongwang has been strategically investing in R&D and optimising the product portfolio in response to the changing clientele mix and market demand.”
“In light of the production capacity utilisation ramp-up, flat-rolled products, industrial aluminium extruded products, aluminium alloy formwork, further fabricated parts of new energy vehicles and large-sized parts for rail vehicles achieved outstanding results, resulting in stable growth of the Group's overall performance."
The production efficiency of the aluminium flat rolling project in Tianjin gradually improved during the quarter, which boosted sales volume and revenue of flat rolling business.
Mr. Lu concluded, "2019 marks the 10th anniversary of the listing of China Zhongwang on the Hong Kong Stock Exchange. Over the past decade, the Group has continued to optimise its product mix and service model, as well as extend its business footprints strategically, transforming into an integrated light-weight solutions provider. In the meantime, the Group has been sharing its achievements with shareholders by stable dividend pay-out. Looking into the future, we will grasp the opportunities arising from China's industrial upgrade and stay committed to our core businesses, contributing to the high-quality development of the aluminium fabrication industry."
Responses







