China Zhongwang Holdings 2013 profit up 18%

China Zhongwang Holdings said Thursday that its profit attributable to equity holders for the year ended 31 December 2013 rose to RMB2.13 billion or RMB0.39 per share from RMB1.81 billion or RMB0.33 per share in the previous year.

Revenue for the year grew 6 percent to RMB14.31 billion from RMB13.50 billion in the prior year. The company's major revenue was generated from sales of aluminium extrusion business, which amounted to about RMB14.30 billion, or 99.9 percent of the total revenue.

China Zhongwang's board of directors has proposed a final dividend of HK$0.13, approximately equivalent to RMB0.10, per ordinary share and convertible preference share. The proposed final dividend is subject to the approval of the Company's shareholders at the forthcoming annual general meeting.

China-based China Zhongwang Holdings is engaged in the production, and sale of aluminum products for industrial and construction markets.

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