China Zhongwang¡¯s revenues and profit drop in Q1 2017

The world’s leading aluminium extrusions product manufacturer China Zhongwang Holdings posted declines in profit and revenues during the first quarter of FY 2017. According to the company’s latest financial report, both the topline and bottomline reflected a drop from the corresponding period previous year.

China Zhongwang’s revenues in Q1 2017 stood at 3.1 billion yuan, down from 3.5 billion yuan in 2016. Profit was also down at 513 million yuan in Q1 2017 from 604 million yuan last year.

Total industrial aluminium extrusion sales were reported at 143,860 tonnes in the period under review. The sales value rose 5.2 per cent year-on-year to 3.33 billion yuan.

China Zhongwang attributed the rise in sales volume and value to the increased production and sales of high value-added aluminium extrusions. Demand for advanced aluminium extrusions such as aluminium alloy formwork has reportedly increased in the domestic as well as international market, the company stated in the report.

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