According to an article published in Hong Kong’s ET Net dated on 15August 2011, China Zhongwang’s sales revenue rose by 87% quarter-to-quarter and reached RMB 2.78 billion in the second quarter of 2011. The profit attributable to shareholders rose by 50%, reaching RMB247 million in the second quarter of 2011 as a result of a 94% growth in China sales. Along with the increasing proportion of high-end products in the future, gross profit margin in the second half of the year will continue to rise.

Mr. Lu Changqing, Executive Director and Vice President of China Zhongwang, said, “The Group will raise the proportion of US export, especially the 2nd ,4th, 5th and 7th series of aluminum alloy products, which are exempted from the impacts of the US anti-dumping and countervailing investigations. He believed that these products could offset the rising cost pressure due to the tax increase. 
Besides, the Group will set up a specialized deep-processing team to raise the gross profit margin further. China Zhongwang will also increase the proportion of export sales and will not give up the US market which remains huge potential.

By the end of June 2011, the annual production capacity of Zhongwang surpassed 700,000 tons. The Group will install 18 more sets of large scale extrusion presses of over 75MN in the coming two years. It is projected that the annual production capacity will be increased to over 1,000,000 tons in 2013. Besides, the Group will complete the development of a high-precision aluminum flat rolled products project with annual production capacity of 3 million tons in several phases. The Group has tentatively decided to set up production bases in Tianjin, Liaoning Province and Heilongjiang Province. These new production facilities are expected to put into production in 2014 and it will reach its full capacity in 2018 with an annual investment of RMB 5 billion.

Mr. Lu said that the order volume for 2011 could hit 400,000 tons, with 180,000 tons already achieved in the first half of 2011. The Group is now working with General Motors to study on the production of aluminium automobiles.