China Zhongwang Posts 17.9% Rise in H1 Profit on Product Portfolio Adjustment

SHANGHAI, Aug. 21 (SMM) –China Zhongwang Holdings Limited reported 7.89 billion yuan ($1.23 billion) in revenues during H1 2015, down from 7.95 billion yuan a year ago, it said in its interim report filed to the Hong Kong Stock Exchange. 

Despite lower revenues, the company managed to post a 17.9% year-on-year rise in profit attributable to its shareholders to 1.5 billion yuan. It attributes higher profit to product portfolio adjustment. 

Besides, it gross margin also increased from 28.2% in H1 2014 to 32.2%, its interim report showed. 

Its revenues from industrial aluminum extrusion segment totaled 7.4 billion yuan in H1 2015, down from 7.5 billion yuan a year earlier. However, its revenues from construction aluminum extrusion segment rose from 401 million a year ago to 433 million yuan.    

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