SHANGHAI, Aug. 27 (SMM) – Jiangsu Asia-Pacific Light Alloy Technology Co. registered a 28.98% year-on-year rise in net profits to 93.92 million yuan ($ 15.23 million) during the first six months of the year thanks to growing demand from the automobile sector and capacity expansions, it said in its semiannual financial report.
Its business revenues increased 13.28% on the year to 1.09 billion yuan during H1 2014, driven largely by pipe/tube, extrusion and bar segments, whose business revenues grew 12.25%, 23.97%, and 39.45%, respectively, on a yearly basis.
The company has been committed to technological innovation in new products, with R&D investment hitting 55.92 million yuan during the report period.
Its 80,000-tpy high-performance aluminum extrusion expansion project is currently under construction in Wuxi, it added.
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