China Zhongwang net rises to 1.3b yuan

Business | 23 Aug 2019 6:38 pm

Mainland aluminum products manufacturer China Zhongwang (1333) said interim net profit grew by 26.7 percent year-on-year to 1.39 billion yuan (HK$1.53 billion).

Earnings per share were 0.2 fen.

The company declared an interim dividend of 10 HK cents.

Revenue grew by 38.3 percent from a year ago to 12.9 billion yuan, mainly attributable to the increase in orders resulting from the increase in the demand for high-quality industrial aluminum extruded products from the downstream market, said the company.

Gross profit margin dropped by 1.4 percentage points to 30.3 percent.

Shares of Zhongwang went up by 2.58 percent to HK$3.18.

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