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The Research Team of Liaoning Provincial People's Congress Visits China Zhongwang

Time:17 August 2015 Font size

Recently, the research team of Liaoning Provincial People's Congress led by Li Wenke who is the deputy director of the Standing Committee paid a visit to China Zhongwang.

 

Li Wenke highly praised the group. He noted that the group has sustained a strong growth on the strength of its advantage. It has also ranked top among those non-public-owned enterprises in the province and China.

 

In recent years, the Chinese government has actively pushed forward the structural economic reform as well as encouraged the industrial upgrade. The development of lightweight transportation has also accelerated to create a favorable business environment for the high-end aluminium processing industry. As a pioneer in the high-end manufacturing industry, China Zhongwang has identified the opportunity earlier than other enterprises and thus made sufficient preparation. According to a relevant source, the project of aluminium flat rolled product which has been prepared for 5 years will be put into operation at the end of 2015. It will be devoted to producing the medium-to-high thickness aluminium plates for transportation and chemical container in the fields of aerospace, marine, commercial vehicles, special vehicles and rail vehicles. Without domestic companies engaging in the production of this product, the domestic market has to be reliant on the import completely. 

 

Under the background of enormous economic downward pressure, China Zhongwang has maintained the stable growth. According to the 2015 first quarter financial report, quarterly revenue is RMB 3.59 billion, the group benefited from the increasing share of high-end aluminium extrusion products in its product mix and achieved 2.5ppts year-on-year increase in gross margin to 29.3%. Net profit increased by 15.9% to RMB580 million.