Aluminum maker records 4.9% rise in sales volume

China Zhongwang Holdings Ltd based in Liaoning province saw its sales volume increase by 4.9 percent year-on-year to 960,000 tons in 2019, the aluminum manufacturer said in a statement released on Friday.

Revenue amounted to 23.58 billion yuan ($3.32 billion), with gross profit margin standing at 30.1 percent and net profit for the year amounting to 3.18 billion yuan, the company said.

"With the structural transformation and upgrade of the aluminum industry, great potential will be unleashed in high-end application, further fabrication and new infrastructure construction," said Lu Changqing, president of the company.

"Leveraging its advanced equipment and extensive industry know-how, the company is committed to promoting the light-weight development of the transportation sector."

As the enterprise continued to explore the aluminum flat rolling market, sales and revenue of aluminum flat rolled products both increased, it said.

It has also become a supplier of high-quality aluminum extrusion products to a number of international automakers, including the UK plant of Jaguar Land Rover as a tier-one supplier. It was also nominated as an aluminum extrusion products supplier for the BMW Group, marking the group's accomplishment as a supplier to European luxury automobile brands.