Zhongwang, China, released its three-quarter report on the evening of October 31. In the first three quarters, the group's overall earnings reached 12.71 billion yuan, up 2.0% from the same period last year, and its overall net profit reached 2.34 billion yuan, with a net interest rate of 18.4%. The company said that product structure optimization had gradually promoted the performance in the third quarter. As of September 30, the group's earnings and profits showed an increasing trend, increasing by 12.5% and 1.4% respectively compared with the same period last year.

    Lu Qing, president and executive director of Zhongwang, China, said: "After the product restructuring in the first half of the year, the value of new products began to be reflected in the third quarter. The group has also completed two international mergers and acquisitions, namely, the German Una Aluminum Company, which specializes in seamless aluminium tubes for aviation giants, and Silver Yachts, the top Australian all-aluminium superyacht manufacturer. The acquisition not only opens up a new high-end aluminium application field for the group, but also is an important step for the group to directly enter the downstream terminal manufacturing. Zhongwang, China, is ready to provide comprehensive solutions for lightweight products with richer product portfolio and more comprehensive strength.

    Aluminum alloy formwork shows its advantages and product structure continues to be optimized.

    During the retrospective period, the group has continuously improved the production efficiency and finished product rate of aluminium alloy formwork in practice, making the sales of this product continue to rise. Sales in the first three quarters of this year were 48,000 tons, 63,000 tons and 76,000 tons respectively, with cumulative sales of about 187,000 tons, accounting for 38.3% of the group's total sales. Benefiting from the patented alloy formulation and surface treatment technology, the quality of Zhongwang aluminium alloy template is much better than that of similar products in the market. The average unit price of Zhongwang aluminium alloy template is as high as RMB 33,088 yuan, thus driving the average unit price of the group to rise by 22.5% to RMB 26,014 yuan annually. During the retrospective period, aluminium alloy templates brought in 6.19 billion yuan of revenue, accounting for 48.7% of the group's total revenue. The Group continues to optimize and adjust its production capacity and product structure. One of the two 225MN super-large extruders ordered earlier has been put into production this month. The investment of new equipment will effectively release the value enhancement brought by product structure adjustment.

    Aluminum calendering production line formally put into operation and improve industrial chain layout

    In the third quarter, the first production line of Tianjin aluminium calendering project was put into operation, which marked that the group's layout in the aluminium processing industry chain was more perfect. In the initial stage of production, the project mainly produces high-quality aluminium alloy strip products, providing transportation, industrial equipment, chemical containers and other fields. Technology and R&D teams are actively promoting the certification process for high-end products. The second production line is carrying out equipment commissioning as planned. The formal development of aluminium calendering business is conducive to consolidating the group's long-term competitiveness.

    Continuous completion of international mergers and acquisitions to promote downstream applications of high-end aluminium materials.

    The Group has recently officially completed two international mergers and acquisitions, which is a milestone for Zhongwang to develop its international business. Germany Una Aluminum Co., Ltd. ("Una Aluminum") focuses on the production of high-end seamless tubes, shunt extrusion tubes and other high-quality aluminium alloy extrusion products, which are widely used by well-known customers in the aviation and automotive industries. Silver Yachts Ltd. ("Silver Yachts") is the only company in the world capable of designing and producing large-scale all-aluminium alloy superyachts over 70 meters. It is the leader of innovative application of aluminium alloy in navigation field. The business of these two excellent enterprises is highly complementary to the existing business of the group, and the synergistic effect of the acquisition will bring win-win situation.

    Looking forward to the future, Mr. Lu Changqing said: "While consolidating its product structure, industrial chain layout and profitability, the Group has absorbed and integrated outstanding aluminum processing and downstream enterprises to add vitality and sustainable growth to the Group's development. Once again, on behalf of the Board of Directors, I welcome Una Aluminum and Silver Yachts to join the Zhongwang Family and look forward to working with all shareholders to witness Zhongwang's broader future.