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China Zhongwang Reports Excellent Performance on Well-behaved Auto Aluminum Market
Apr 11,2017 10:32CST
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Source:SMM
China Zhongwang posted a 12.1% rise in net profit to 3.14 billion yuan in 2016 thanks to rapid expansion in automobile aluminum market, according to the company’s 2016 earnings report.

SHANGHAI, Apr. 11 (SMM) - China Zhongwang posted a 12.1% rise in net profit to 3.14 billion yuan in 2016 thanks to rapid expansion in automobile aluminum market, according to the company’s 2016 earnings report.

Processing business is main driver of its performance, with sales up 22.7% on a yearly basis to 90,000 tonnes and sales revenue up 25.1% to 2.44 billion yuan.

Total sales increased 3.9% year-on-year to 765,000 tonnes, creating income of 16.7 billion yuan.

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