Recently, Li Youzhi, the deputy provincial governor of Hunan Provincial Government led a team to visit China Zhongwang, touring around aluminum alloy auto-body plant, processing plant, mold plant and engineering research center. Both sides also made a detailed discussion and reached an agreement for cooperation. 

In the seminar, Li Youzhi pointed out that Hunan Province benefits from its advantageous geographical location, resources and environment and should develop aluminium extrusion industry based on those advantages. He hoped that China Zhongwang will give more support to the economic development of Hunan Province in the future. According to the relevant manager of the Group, China Zhongwang has always been committed to fostering the local economy through effective means. In days to come, the Group would also strengthen the cooperation and exchange with those enterprises in Changde, Hunan Province so as to achieve the joint development.  

The interim financial report of the Group in 2014 showed that China Zhongwang recorded steady growth in product sales during the review period. Revenue rose 13.2% year-on-year to approximately RMB7.95 billion while gross profit margin slightly increased by 0.2ppts to 28.2%. Profit attributable to equity shareholders increased 18.6% to RMB1.27 billion. The Group’s sales volume of aluminium extrusion products amounted to 368,000 tonnes during the review period, representing a 16.5% growth over the corresponding period of last year. China remained the major market of the Group, where sales volume and amount grew by 13.0% and 9.3% year-on-year to approximately 323,000 tonnes and RMB6.75 billion respectively.