Proactively Engages in Light-weight Development
Further Optimises Industry Chain Deployment
Results Highlights:
• Revenue up 14.8% year-on-year to RMB3.56 billion.
• Gross profit up 10.2% year-on-year to RMB1.09 billion. Gross profit margin of 30.6%.
• Net profit up 4.5% year-on-year to RMB540 million.
• The Group was awarded “Demonstration Enterprise in Manufacturing Industry with Single Product Championship” by the Ministry of Industry and Information Technology of China, a further recognition of its market-leading position.
(Hong Kong, 27 April 2018) - China Zhongwang Holdings Limited ("China Zhongwang" or the "Company", together with its subsidiaries the "Group", stock code: 01333), a world-leading fabricated aluminium product developer and manufacturer, announced its unaudited consolidated results for the three months ended 31 March 2018 (“the Period under Review”). During the Period under Review, the Group’s total revenue rose by 14.8% year-on-year to RMB3.56 billion. Overall gross profit increased by 10.2% year-on-year to RMB1.09 billion. Net profit up by 4.5% year-on-year to RMB540 million.
Mr. Lu Changqing, Chairman and President of China Zhongwang, said, “The ongoing upgrade in China’s aluminium consumption structure has gradually increased the proportion of mid- to high-end aluminium application. With excellent design capabilities and production techniques, the Group grasped the market opportunities and engaged itself in developing high value-added products, to provide customers with one-stop light-weight solutions covering design, production and after-sales services, driving the Group to achieve satisfactory results.”
Seize Market Opportunities to Promote Integrated Light-weight Solutions
With foresight in tapping into the light-weight development, the Group has been well-equipped in advance in terms of product research and development (“R&D”) as well as production capacity for exploring new aluminium application in high-end industrial sectors. The Group has developed its unique aluminium alloy formwork system that targets the domestic and overseas construction industry. Backed by the professional technical team, top-notch equipment and superb production techniques, the Group is able to supply the customers with aluminium alloy formwork solution superior to average market quality, gaining continuous popularity and shares in the market. Moreover, the Group has earnestly been expanding its business into the sectors of new energy vehicle and rail transportation. It has developed various large-sized aluminium parts that meet industry standards while constantly strengthened the cooperation with end-use customers in the automotive, passenger car and railway vehicle sectors.
Market Leadership Signified by Comprehensive Strengths Cultivated from Persistent Endeavour
Recently, the Ministry of Industry and Information Technology of China and China Federation of Industrial Economics jointly announced the second batch of “The List of Champion Enterprises for Single Product and Single Champion Product in Manufacturing Industry”. By virtue of its comprehensive strengths cultivated in years of in-depth development in the realm of aluminium extrusion business, Zhongwang Group was awarded the “Demonstration Enterprise in Manufacturing Industry with Single Product Championship”, signifying its strong brand influence and recognition in the market.
Optimise Industry Chain Deployment and Unveil the New Flagship in Aluminium Fabrication Industry
In response to the increasing market demand for high-end products, the Group has been committed to developing the high value-added aluminium flat rolling project in Tianjin, the world’s largest top-notch aluminium flat rolling production base with state-of-the-art equipment. The first production line of the project has commenced commercial production in the second half of 2017. In the initial production phase, it has been producing principally high quality standard products for the customers from different sectors including manufacturing, transportation and special vehicle. Currently, the project has obtained a series of international authoritative certifications, paving the way for entering the global markets in the automotive, ship building, railway transportation and aviation sectors. The installation of the second production line has been completed and it is undergoing equipment testing. Upon completion, the project will become the new flagship of aluminium fabrication industry in China and the world.
Looking ahead, Mr. Lu added, “With the implementation of the ‘Made in China 2025’ strategy, China has stepped up efforts to reinforce its edges in manufacturing with emphasis on light-weight development, which generates huge growth momentum for high-end aluminium fabrication industry. We will further increase our resources and investment in R&D as well as innovation, further diversify the high-end product portfolio, leverage on our bountiful experience to relentlessly strive for excellence while translating our industry knowhow into unlimited possibilities of aluminium application.”
