Liao Ning Zhong Wang Group
Encyclopedia
China Zhongwang Holdings Limited (Chinese: 中國忠旺控股有限公司) 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
.
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.
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.
RESULTS
ASSETS AND LIABILITIES
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 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
in May 2009 with its IPO price of HK$7.0 per share. It was the world's largest IPO in that year and raised the capital
of US$1.26 billion.
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.
Liaoning
' is a province of the People's Republic of China, located in the northeast of the country. Its one-character abbreviation is "辽" , a name taken from the Liao River that flows through the province. "Níng" means "peace"...
province, China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
.
Principle Business
The company produces high precision, large-section industrial aluminium extrusion products, used in transportation, machinery equipment and electric power engineering.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 aluminiumAluminium
Aluminium or aluminum is a silvery white member of the boron group of chemical elements. It has the symbol Al, and its atomic number is 13. It is not soluble in water under normal circumstances....
extrusion press is one of the largest and most advanced presses in China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
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
Asia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...
. 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.
Founder and Directors
| 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 |
| Mr. Gou Xihui | Vice President and Executive Director |
| Ms. 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 RMBRenminbi
The Renminbi is the official currency of the People's Republic of China . Renminbi is legal tender in mainland China, but not in Hong Kong or Macau. It is issued by the People's Bank of China, the monetary authority of the PRC...
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.
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 AluminiumAluminium
Aluminium or aluminum is a silvery white member of the boron group of chemical elements. It has the symbol Al, and its atomic number is 13. It is not soluble in water under normal circumstances....
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
Business model
A business model describes the rationale of how an organization creates, delivers, and captures value...
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
Asia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...
• 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
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
, 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
Downstream
-Science:* In geography, away from the source of a stream or river* In meteorology, away from the source of an air parcel or mass, along the normal direction of water or air flow* Downstream , in computer or telecommunications networks...
deep processing areas
Listing
China Zhongwang was listed on the Hong Kong Stock ExchangeHong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
in May 2009 with its IPO price of HK$7.0 per share. It was the world's largest IPO in that year and raised the capital
Capital (economics)
In economics, capital, capital goods, or real capital refers to already-produced durable goods used in production of goods or services. The capital goods are not significantly consumed, though they may depreciate in the production process...
of US$1.26 billion.
Special Announcement
In October 2011, China Zhongwang announced major transactions in relation to the development of the synergistic aluminiumAluminium
Aluminium or aluminum is a silvery white member of the boron group of chemical elements. It has the symbol Al, and its atomic number is 13. It is not soluble in water under normal circumstances....
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
Aluminium
Aluminium or aluminum is a silvery white member of the boron group of chemical elements. It has the symbol Al, and its atomic number is 13. It is not soluble in water under normal circumstances....
foil rolling mills, amongst others, for Phase 1 development of the aluminium
Aluminium
Aluminium or aluminum is a silvery white member of the boron group of chemical elements. It has the symbol Al, and its atomic number is 13. It is not soluble in water under normal circumstances....
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.