China Zhongwang Holdings Limited
China Zhongwang Net Profit Amounts to RMB2.34 Billion in the First Nine Months of 2017
China Zhongwang Net Profit Amounts to RMB2.34 Billion in the First Nine Months of 2017 Results Highlights: – Overall sales volume for the first nine months of approximately 489,000 tonnes, total revenue of RMB12.71 billion. – Net profit of approximately RMB2.34 billion, net profit margin of 18.4%. – In the third quarter, the Group’s revenue up 12.5% year-on-year to approximately RMB5.39 billion while profit for the period up 1.4% to approximately RMB1.08 billion. – Sales of aluminium alloy formwork posted continual quarterly growth, achieving sales volume of over 187,000 tonnes for the first nine months. – The first production line of the aluminuim flat rolling project has commenced commercial production. – Successively completed two overseas acquisitions of Germany-based Alunna and Australia-based SilverYachts, strategically expanding downstream applications of high-end aluminium products in aviation and marine sectors. (Hong Kong, 31 October 2017) – China Zhongwang Holdings Limited (“China Zhongwang” or the “Company”, together with its subsidiaries, the “Group”, stock code: 01333), a world’s leading fabricated aluminium product developer and manufacturer, announced its unaudited consolidated results for the nine months ended 30 September 2017 (the “Period under Review”). During the Period under Review, the sales of the high value-added aluminium alloy formwork business posted continual quarterly growth, driving the Group’s total revenue to reach approximately RMB12.71 billion, up by 2.0% as compared to the corresponding period of last year. Net profit was approximately RMB2.34 billion. The benefit of continuous product mix optimisation has been gradually realised in the third quarter. For the third quarter ended 30 September 2017, the Group saw an uptrend in both its revenue and profit for the period, which increased by 12.5% and 1.4%, respectively. Mr. Lu Changqing, President and Executive Director of China Zhongwang, said, “After the product mix adjustment in the first half of the year, the value added by the new products began to reveal in the third quarter. Meanwhile, the Group has completed two overseas acquisitions, namely Alunna, a Germany-based seamless extruded tubes manufacturer serving major players in the international aviation industry, and SilverYachts, a top all-aluminium superyacht builder based in Australia. The acquisitions mark a strategic step for the Group to make further inroads in expanding the application of aluminium in high-end sectors, and also signify the Group’s direct entry into the downstream end product manufacturing business. China Zhongwang is well-prepared to provide all-round integrated lightweight solutions, with its further optimised product mix and strengthened comprehensive capabilities.” Competitive Aluminium Alloy Formwork Business Contributes to Further Product Mix Optimisation Commercial Production of Aluminium Flat Rolling Project Commenced to Enhance Industry Chain Extension Successive International Acquisitions to Promote High-end Applications of Aluminium Looking ahead, Mr. Lu Changqing said, “The Group has incorporated and integrated with remarkable aluminium processing and downstream enterprises while consolidating its own product mix, industry chain extension and profitability. Such moves add momentum to the Group’s future sustainable growth. On behalf of the Board, I would like to welcome both Alunna and SilverYachts again in joining the China Zhongwang family, and look forward to witnessing with our shareholders a broader future to be created by the Group.” – End – About China Zhongwang Holdings Limited In addition, to further leverage its existing strengths in the industry, the Group is developing the high value-added aluminium flat rolling project. Upon completion, the project will become the world’s largest top-notch aluminium flat rolling production base with state-of-the-art equipment. This new business venture will not only enable the Group to further capitalise on its leading edge in aluminium alloy smelting and casting and product R&D, but also achieve synergistic development with its existing aluminium extrusion and deep processing businesses by taking full advantage of shared resources. For further information on the Group, please visit www.zhongwang.com.
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31/10/2017 Dissemination of a Marketing Press Release, transmitted by EQS Group. |