- China Zhongwang
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China Zhongwang Holdings Limited
中国忠旺控股有限公司
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[citation needed] and the biggest one in Asia and China. The group is headquartered in Liaoning province, China. [1]
Contents
Principle Business
The company produces high precision, large-section industrial aluminium extrusion products, used in transportation, machinery equipment and electric power engineering.[2]
History and Scale
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[citation needed].
Founder and Directors
Name Title Mr. Liu Zhongtian Founder, Chairman, President and Executive Director Mr. Gou Xihui Vice President and Executive Director Mr. Lu Changqing Vice President, Executive Director and Joint Company Secretary Mr. Chen Yan Vice President and Executive Director Mr. Zhong Hong 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 Financial Performance
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 2,595,876 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 2,442,480 Products and Plants
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-douse 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 largesection, high quality, high value-added aluminium extrusion products on a large scale
Product Development
• Developing and manufacturing high valueadded aluminium extrusion products for industrial customers.
• Gradually expanding to downstream deep processing areas
Listing
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]
Special Announcement
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.
References
External links
Metal companies of ChinaAluminum Corporation of China Limited • CITIC Resources • Chihong Zinc and Germanium • China Metallurgical Group Corporation • China Minmetals • China Molybdenum • China Zhongwang • Hunan Nonferrous Metals • Jiangxi Copper • Jinchuan Group • Jinduicheng Molybdenum • Shenzhen Zhongjin Lingnan Nonfemet Company • Tongling Nonferrous Metals • Western Mining Company • Xingye Copper • Xinjiang Xinxin Mining Industry Company • Shaanxi Youser Group • Yunnan Copper • Yunnan Tin • Zhaojin Mining • Zijin Mining
Metal companies of ChinaCategories:- Companies listed on the Hong Kong Stock Exchange
- Companies established in 1993
- Aluminium companies
- Manufacturing companies of the People's Republic of China
- Warrants issued in Hong Kong Stock Exchange
- Privately held companies of the People's Republic of China
- Metal companies of China
- Companies based in Liaoning
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