| Type | Hong Kong Listed Company |
|---|---|
| Industry | Aluminium Processing |
| Founded | 1993 |
| Headquarters | Liaoyang, Liaoning, People's Republic of China |
| Area served | People's Republic of China |
| Key people | Chairman: Mr. Liu Zhongtian |
| Website | China Zhongwang Holdings Limited |
China Zhongwang Holdings Limited (Chinese: 中國忠旺控股有限公司) (SEHK: 01333) is the second largest industrial aluminium extrusion product developer and manufacturer in the world and the biggest one in Asia and China. The group is headquartered in Liaoning province, China. [1]
Contents |
The company produces high precision, large-section industrial aluminium extrusion products, used in transportation, machinery equipment and electric power engineering.[2]
After 18 years of dedication and hard work since its founding in 1993, the Group owned 75 leading aluminium extrusion production lines in the world as at 30 September 2011, of which the 125MN oil-driven dual action aluminium extrusion press is one of the largest and most advanced presses in China and in the world. It has built the world’s leading aluminium tilt smelting and casting equipment in the industry, as well as the largest customized industrial aluminium extrusion product die design and manufacturing centre in Asia. The Group’s annual production capacity as at 30 September 2011 was over 700,000 tonnes. The close coordination among the processes, namely product development, smelting and casting, die and extrusion, and the advanced technologies applied is the Group’s important source of competitiveness and outstanding features. The Group’s 2011 annual production capacity was approximately 700 kilotonnes.
| Name | Title |
|---|---|
| Mr. Liu Zhongtian | Founder, Chairman, President and Executive Director |
| Mr. Lu Changqing | Vice President, Executive Director and Joint Company Secretary |
| Mr. Chen Yan | Vice President and Executive Director |
| Ms. Zhong Hong | Vice President and Executive Director |
| Mr. Gou Xihui | Vice President and Executive Director |
| Mr. Wong Chun Wa | Independent Non-executive Director |
| Mr. Wen Xianjun | Independent Non-executive Director |
| Mr. Shi Ketong | Independent Non-executive Director |
| Mr. Lo Wa Kei, Roy | Independent Non-executive Director |
| Mr. Cheung Lap Kei, Vincent | Chief Financial Officer and Joint Company Secretary |
The company's revenue and profits for the six months ended 30 June 2011 dropped to approximately RMB 4,273,146,000 and RMB 411,600,000 respectively and the company's earnings per share was RMB 0.08. Sales from the China market for the six months ended 30 June 2011 increased by 57.9% over the same period the previous year, representing 97.9% of the total revenue. During the period, the China market became the main source of revenue. [3]
RESULTS
| Year ended 31 December (in RMB'000) | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|
| Revenue | 10,521,948 | 13,852,708 | 11,264,429 | 7,521,266 | 6,075,225 |
| Profit for the year attributable to owners of the Company | 2,595,867 | 3,528,815 | 1,910,438 | 852,158 | 551,426 |
ASSETS AND LIABILITIES
| As at 31 December (in RMB'000) | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|
| Total assets | 24,639,885 | 24,423,450 | 12,861,075 | 11,012,758 | 10,229,755 |
| Total Liabilities | 9,066,279 | 10,247,677 | 9,655,999 | 7,718,120 | 7,787,275 |
| Total equity attributable to owners of the Company | 15,573,606 | 14,175,773 | 3,205,076 | 3,294,638 | 2,424,480 |
Industrial Aluminium Extrusion Products, Deep-processing of Industrial Aluminium Extrusion Products and Aluminium Flat Rolled Products are the three core businesses of the company. China Zhongwang adopted an integrated business model to strengthen it's core competency:
Die design and Manufacturing
• One of the largest design and manufacturing centers for special industrial aluminium extrusion products in Asia
• In-house die design and production enable the Company to cooperate with key customers to produce customized aluminium extrusion products and shorten production cycle
Alloy Smelting & Casting
• One of the world’s leading aluminium smelting and casting facilities, providing customized products with required alloy formula
• In-house alloy smelting and casting facilities are prerequisites for producing high-end industrial aluminium extrusion products
Large Advanced Extrusion Equipment
• Core equipment imported mainly from Europe, which enables the Company to produce large section, high quality, high value-added aluminium extrusion products on a large scale
Product Development
• Developing and manufacturing high value added aluminium extrusion products for industrial customers.
• Gradually expanding to downstream deep processing areas
China Zhongwang was listed on the Hong Kong Stock Exchange in May 2009 with its IPO price of HK$7.0 per share.[4] It was the world's largest IPO in that year and raised the capital of US$1.26 billion.[5][6]
In October 2011, China Zhongwang announced major transactions in relation to the development of the synergistic aluminium flat rolled product business. The Group kick-started the development of the project as per its plan and entered into a total of six equipment purchase agreements with three independent third party suppliers via two wholly owned subsidiaries. According to the agreements, the Group will invest approx. USD3.8 billion (approx. HKD29.5 billion) in total payable in four instalments between 2011 and 2014 for the purchase of hot continuous rolling mills and cold rolling mills for the production of medium-to-high thickness plate and sheet products, smelting and casting lines, quenching furnaces and heat treatment furnaces for the ancillary production of medium-to-high thickness plate and sheet products, and aluminium foil rolling mills, amongst others, for Phase 1 development of the aluminium flat rolled manufacturing base which will have an annual production capacity of 1.8 million tonnes.
And in November 2011, through Panjin Zhongwang Aluminium Co., Ltd., a wholly owned subsidiary of the Company, China Zhongwang has successfully won the bid for the land use right of two pieces of land in Panjin City, Liaoning Province through public auction at a total consideration of RMB643 million. The Land will be used for the construction of the new facility for the manufacturing of aluminium flat-rolled products in Panjin City.
|
|||||||||||