ResultsHighlights:

• Sales volumeand revenue in the first nine months of 2019 recorded double-digit growth
• Aluminium extrusion business grew organically, rapidlyexpanding the aluminium alloy formwork leasing business
• Productioncapacity of aluminium flat rolling business continued on the rise, doubled therevenue and productivity

Financial Highlights:

HONG KONG, CHINA - MediaOutReach - 31 October 2019 - China ZhongwangHoldings Limited ("China Zhongwang" or the "Company", together with itssubsidiaries the "Group", stock code: 01333), a world-leading fabricatedaluminium products developer and manufacturer, announced its unauditedconsolidated results for the nine months ended 30 September 2019 ("the Periodunder Review"). During the Period under Review, the production efficiency of aluminium extrusion products and aluminium flat rolling products continued to rise, propelling the Group's sales volume to increase by 32.5% to 760,000 tonnes. The total revenue grew 14.0% to RMB18.7 billion. Gross profit was up by 3.0% to RMB5.42 billion, with a gross profit margin of 29.1%. Net profit was RMB2.22 billion.

Mr. Lu Changqing, Chairman and President of China Zhongwang, said, "To support the sustainabledevelopment of the Group's businesses, we have been exploring the feasibilityof various business models for the last few years. In mid 2019, the Groupcommenced the leasing business of aluminium alloy formwork, which provided theGroup with direct access to the end market and promoted light-weight solutionsfor green construction . At the same time, the production capacity of thealuminium flat rolling business continued to expand, constantly driving up theproduction efficiency to bring positive impact to the Group's sales volume."

Boosted Promotion of Aluminium Alloy Formwork Leasing Business

During the Period underReview, the Group persisted in promoting the leasing business of aluminiumalloy formwork. Compared with the aluminium alloy formwork sales business, thealuminium alloy formwork leasing business has a higher gross profit margin andprofit margin. In the medium and long term, the leasing of aluminium alloyformwork can create a recurring income source and contribute to a higher profit.After a few months of operation, the Group has gained a deeper understanding ofthe key factors in the execution and has made improvements in various stages,including production, assembly, transportation, warehousing, application,maintenance, and retrieval process. The aim was to raise the efficiency andleverage the advantage of the leasing model. In addition, the Group'scapability to produce a comprehensive range of aluminium formwork that includessupporting components and connectors has been developing according to schedule.By unlocking the potential of aluminium formwork's applied usage, it can becomethe long-term growth engine for the Group.

Productivity of Aluminium Flat Rolling Further Unleashed

The Group continued to explorethe market for aluminium flat-rolled products. During the Period under Review,aluminium flat-rolled products contributed the biggest proportion to theGroup's sales volume. Benefitting from the persistent increase in efficiency,the sales volume of flat-rolled products in the first nine months of 2019doubled. At present, the Group produces premium flat-rolled products forindustrial customers and in the fields of new energy vehicles and greenpackaging. Once the Group receives certification for premium products such as automotivebody sheets, its product portfolio will be fully upgraded and profitabilityenhanced. The Group's second production line has commenced small-volume pilotproduction.

Looking ahead, Mr.Lu said, "China is speeding up its high-quality development of the economy,the aluminium fabrication industry has been attracting an unprecedented levelof attention, boosting our confidence in the prospects of aluminium's applieduse. The Group will keep on optimising its production capacity and diversifyingits product portfolio. We will maintain our focus on product research anddevelopment and innovation, in order to make our contribution to thesustainable development of the society."

About China Zhongwang Holdings Limited

China Zhongwang is the second largest industrialaluminium extruded products developer and manufacturer in the world and thelargest in Asia. The Group provides a myriad of quality fabricated aluminiumproducts and offers integrated light-weight solutions for such downstreamsectors and fields as ecological construction, transportation, machinery andequipment and electric power engineering.

With shared resources, the Group's core businesses,namely industrial aluminium extrusion, aluminium flat rolling and furtherfabrication have achieved synergistic development. In 2017, the Group expandedits business presence in the transportation sector by acquiring AluminiumwerkUnna AG., a leading aluminium extrusion manufacturer, and Silver Yachts Ltd., alarge-scale all-aluminium superyacht builder, tapping into the end-usemanufacturing in the marine sector as well. Having built excellent teams ofresearch and development, technology and design, the Group is able to provideone-stop light-weight solutions covering independent design, manufacturing,fabrication and after-sales services. Looking ahead to the future, the Groupwill continue to promote the applications of high-end fabricated aluminiumproducts, aiming to offer light-weight solutions to the society so that peoplecan live a quality life with low energy consumption.

For further information on the Group, pleasevisit our official website at www.zhongwang.com.