A privately-owned enterprise in Liaoyang City, Liaoning Province made a notable achievement during the international financial crisis.

On 8 May 2009, Zhongwang Group, being the third largest aluminum extrusion manufacturer in the world and the largest one in Asia in terms of production scale, was officially listed on the Main Board of Hong Kong Stock Exchange. It raised a fund of US$1.3 billion, which became the initial public offering raising the largest amount of fund in the global capital market in 2009.

Borne in a family of farmers, Liu Zhongtian went to Changbaishan for operating lumber business with a borrowing of RMB200 in 1978 when he was 14. He founded Liaoyang Futian Chemical Factory (辽阳福田化工厂) in his homeland in 1989. In 1992, Futian Chemical Factory and Hong Kong Kong Lung Industrial Co. Ltd jointly established Liaoyang Zhongwang Chemical Co. Ltd (辽阳忠旺化工有限公司). Being 29 in 1993, Liu Zhongtian founded Liaoyang Zhongwang Aluminum Extrusion Co. Ltd (辽阳忠旺铝型材有限公司), which was specialized in producing aluminum extrusion used for making door and window frames in the construction industry. In August 1995, Liu Zhongtian established Liaoning Zhongwang Group by consolidating 5 companies and then has acted as chairman.

In 2003, Liu Zhongtian decided to change the Company’s core business from construction aluminum extrusion to industrial aluminum extrusion. Zhongwang successively invested a total of more than RMB2 billion in building plants and introducing international advanced production equipment, and now owns nearly 70 advanced aluminum extrusion production lines. Zhongwang Group started to supply incessantly its products to the fast-growing transportation equipment manufacturing industry of the PRC. Zhongwang’s annual income from industrial aluminum extrusion products mounted up to RMB6.2 billion in 2008 from RMB1.6 billion in 2006.

Zhongwang Group has begun to secure the leading position in the PRC aluminum extrusion industry with its customers throughout China and elsewhere in the world, and has become the largest industrial aluminum extrusion manufacturer in Asia and the third largest in the world. In 2008, Zhongwang’s annual net profit of over RMB1.9 billion surprised the whole industry.

As showed in the interim report of 2009, Zhongwang Group’s sales amount for the first half of 2009 exceeded RMB6.3 billion. As the first listing company of Liaoyang City, Zhongwang Group has received a fund of RMB1 million from Liaoyang Municipal Government for supporting the listing of enterprise, which indicated the commitment of Liaoyang City to making economic support to private companies therein.

In September 2009, Liu Zhongtian was elected as one of ten Liaoning meritorious private entrepreneurs (功勋民营企业家) by Liaoning Provincial Administration of Small and Medium Enterprises (辽宁省中小企业厅) and Liaoning Provincial Small and Medium Enterprises Association (辽宁省中小企业联合会). After the successful listing in Hong Kong, Zhongwang Group has set its objective of becoming the world largest advanced aluminum extrusion manufacturer.