DMCC’s Ahmed Bin Sulayem is Recipient of JNA Awards 2014’s Outstanding Contribution Award

HONG KONG, Aug. 29, 2014 /PRNewswire/ — JNA (Jewellery News Asia), organiser of the JNA Awards, is pleased to announce that Ahmed Bin Sulayem, Executive Chairman of DMCC (Dubai Multi Commodities Centre), is the recipient of the 2014 Outstanding Contribution Award.

 

JNA Awards logo 2014
Ahmed Bin Sulayem

Ahmed Bin Sulayem

Bin Sulayem, the second individual to be receiving this annual accolade, will be honoured at the JNA Awards Ceremony and Gala Dinner on 16 September at the InterContinental Hong Kong. The much-anticipated awards event, the culmination of a year-long process, will be held alongside the world’s No. 1 fine jewellery event, the September Hong Kong Jewellery & Gem Fair.

Bin Sulayem’s accomplishments have had an extraordinarily positive and enduring impact, not only on DMCC and Dubai, but on the global gemstone and jewellery industry, according to Letitia Chow, Chair of the JNA Awards judging panel.

Chow added, “Under Ahmed Bin Sulayem’s leadership, DMCC has enhanced the flow of diamonds, precious metals, pearls and other commodities through Dubai – one of the world’s leading trade hubs. His vision and boldness in executing his role at DMCC has led to the expansion of the global commodities sector.

His leadership has not only established Dubai as a major commodities trading hub, but also promoted synergistic collaboration with trading partners in Asia.”

Under Bin Sulayem’s guidance, Dubai has become one of the leading diamond trading centres in the world – ideally positioned, geographically and operationally, to serve a pivotal role in the “New Silk Road.”

Commenting on the award, Bin Sulayem said: “It is an honour to accept this prestigious award on behalf of DMCC and Dubai as testament to the strength and leadership of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai. It is his vision that has enabled DMCC to establish Dubai as the global hub for commodities trade and enterprise, and in doing so making the most of the Emirate’s geographical location between the jewellery and gemstone-producing and consuming countries.”

Bin Sulayem continued, “Today’s gold trade through Dubai has grown from US$6 billion in 2003 to US$75 billion in 2013. The diamond industry has equally grown to some US$39 billion, and Dubai today is ranked among the world’s top three marketplaces for rough and polished diamonds. We are proud to have achieved this in just 10 short years.

“We look forward to continuing on this strong growth trajectory and to further collaborate with our trading partners in mainland China, Hong Kong, as well as other Asian key market players to maximise on the many opportunities that lie ahead.”

Bin Sulayem joined DMCC in 2001 and has since introduced revolutionary infrastructure such as Almas Tower, the tallest commercial tower in the Middle East purpose-built for the diamond trade; and a number of successful products and services, including the establishment of the DMCC Free Zone, the Dubai Gold and Commodities Exchange (DGCX) the Dubai Diamond Exchange (DDE), and other services such as gold refineries, gold and diamond vaults, and the UAE Gold Bullion Coins which were designed to celebrate the accomplishments and vision of the UAE’s leaders. Bin Sulayem has also played a leading role in reviving Dubai’s traditional pearling industry by launching the Dubai Pearl Exchange in 2007. In just over a decade, DMCC has enabled the flow of trade through Dubai to grow immensely while positioning its free zone as the global gateway for commodities trade and enterprise.

Now in its third year, the JNA Awards is an industry-wide event that honours and recognises excellence and achievement in the global jewellery trade with an Asian focus. In 2013, it conferred the Outstanding Contribution of the Year Award to celebrated jewellery master and sculptor Wallace Chan, who has made a significant impact on the global haute joaillerie scene following his spectacular debut at the Biennale des Antiquaires in Paris in 2012.

For the Awards’ 2014 edition, a total of 29 companies and six individuals from 11 countries and regions have been shortlisted across 16 categories.

The event has received an overwhelming response in attendance to the night of the awards ceremony and gala dinner. For more information on the event and past award recipients, please visit www.JNAawards.com.

Notes for Editors:

1. About JNA (www.jewellerynewsasia.com)

JNA is the flagship magazine of UBM Asia’s Jewellery Group. First published in 1983, the title is the leader in providing up-to-date international jewellery trade news with an Asian insight. It features original, in-depth reports by experienced journalists covering the latest developments in the diamond, pearl, gemstone, jewellery manufacturing, and equipment and supplies sectors.

2. About the Headline Partners

2.1 Rio Tinto Diamonds (www.riotintodiamonds.com)

Rio Tinto operates a fully integrated diamonds business from exploration through to sales and marketing. It is one of the world’s major diamond producers through its 100 percent control of the Argyle mine in Australia, 60 percent interest in Diavik mine in Canada, 78 percent interest in the Murowa mine in Zimbabwe and 100 percent interest in the Bunder project in India.

Rio Tinto’s share of the production from its three operating diamond mines is sold through its sales and marketing office in Antwerp, with representative offices in Mumbai, Hong Kong and New York. It also operates a niche cutting and polishing factory in Perth for the rare pink diamonds from its Argyle mine. Rio Tinto is a leading supporter of the Kimberley Process, as well as a founding member of the Responsible Jewellery Council.

2.2 Chow Tai Fook Jewellery Group Limited (www.chowtaifook.com)

Chow Tai Fook Jewellery Group Ltd, a leading jeweller in Mainland China, Hong Kong and Macau, was listed on the Main Board of The Stock Exchange of Hong Kong in December 2011 and has become the world’s largest pure-play jeweller by market capitalisation. Chow Tai Fook is now a constituent stock of the Hang Seng China 50 Index and the Hang Seng Mainland 100 Index. Its principal products are mass luxury jewellery and high-end luxury jewellery products including gem-set jewellery, gold products, platinum and karat gold product, and watches.

The Group’s iconic brand “Chow Tai Fook” and 85 years of operations represent key competitive advantages of its business. The Chow Tai Fook brand is recognised for its trustworthiness and authenticity, and renowned for its product design, quality and value.

The Group has an extensive retail network, with over 2,100 points of sale in more than 470 cities in Greater China, Singapore and Malaysia. It also has a growing presence in e-commerce. The Group’s vertically integrated business model provides an effective and tight control over the entire operation chain from raw material procurement, design, production, to marketing and sales through its extensive retail network.

3. About the Honoured Partners

3.1 Diarough Group (www.diarough.com)

Diarough Group was established in Antwerp in 1975 and owns diamond polishing factories in China, India, Thailand and Botswana, with a network of sales offices around the world. Diarough is known among the most professional and respected names in the international diamond industry.

Diarough believes in building and nurturing long-term business relationships based on mutual trust, finding solutions to business and marketing problems, creating marketable opportunities through innovative products and providing excellent client services.

Its jewellery manufacturing unit Uni-Design has produced many award-winning jewellery pieces, which have been proudly worn by celebrities on the red carpet over the years.

The Group employs over 3,500 people and is engaged in a wide range of diamond business activities like rough trading, cutting, polishing, jewellery manufacturing and marketing to retailers, chain stores, global brands and private labels worldwide. Diarough employs advanced technology and modern work speed with traditional ethical business practices upon which the Company was founded.

3.2 Gubelin Group (www.gubelin.com)

Since 1854, the name Gubelin has stood for the very highest standards in gemstones, jewellery and watches. With its selection of the most sought-after timepieces and jewellery of its own design, the family-run business is represented at all the prime locations in Switzerland: Lucerne, Zurich, Basel, Bern, St. Moritz, Lugano and Geneva. Last November, Gubelin Jewellery established its presence in Hong Kong.

Besides the jewellery boutiques and the Gubelin Ateliers, the group has a newly-established Academy and a world-renowned Gemmological Laboratory. The Gubelin Gem Lab is one of the oldest and most respected institutions of its kind, relied on by dealers, auction houses, royal families and collectors since the 1920s.

3.3 KARP Group (http://www.karpjewellery.com/)

With over four decades of experience and expertise in the diamond trade, KARP caters to international luxury brands. Apart from being a DTC Sightholder, the group is recognised as an “institution” in the industry, using the most technologically advanced manufacturing systems in the business. KARP manufactures a huge array of products, from 0.005-carat goods to stones weighing 10 carats and above.

It excels in the production of certified fine makes, fancy-cut goods and fancy coloured diamonds. The manufacturer is one of the few companies that has achieved up to 5-micron precision in diamond manufacturing.

3.4 Paspaley Pearling Company (www.paspaley.com)

Paspaley Pearling Company is the leading producer of Australian South Sea pearls, supplying strands, loose pearls and mother-of-pearl shells to many of the world’s leading jewellery wholesalers, manufacturers and retailers.

The Paspaley family became involved in pearling in the 1920s and is the world’s only South Sea pearl producer with origins in the natural pearl industry. Paspaley Pearling Company Pty Ltd was incorporated in 1953 and built its success and reputation as a pioneer in the cultivation of South Sea pearls. Today, the Company sets the benchmark for modern pearling practices, operating numerous pearl farms dotted along more than 2,500 kilometres of the remote and pristine coastline of north-west Australia.

Paspaley’s harvest represents the majority of Australian South Sea pearl production and has a well-deserved reputation for exceptional quality.

3.5 Shanghai Diamond Exchange (www.cnsde.com)

Authorised by the State Council, the Shanghai Diamond Exchange (SDE) is the only diamond exchange in China and provides diamond dealers a fair and safe transaction venue under close supervision. It also enjoys a favourable taxation policy and is operated in accordance with international best practices of the diamond industry.

Established in 2000, the SDE is a non-profit, self-regulating membership organisation and a member of the World Federation of Diamond Bourses.

3.6 The Israel Diamond Institute (www.israelidiamond.co.il)

The Israel Diamond Institute Group of Companies (IDI) is a non-profit, public interest company representing all institutions involved in the Israeli Diamond Industry. Israel is one of the world’s leading diamond centres, and the Israeli diamond industry has an illustrious history dating back to the late 1930s.

IDI works for the benefit of Israel’s diamond industry in the areas of marketing and business promotion, international communications, R&D, rough sourcing, professional training, publishing and security consultancy. IDI is responsible for industry participation in major trade fairs around the world, organising Israeli Diamond Pavilions, receptions, press conferences and other events at these fairs.

IDI operates a representative office in Hong Kong, which fosters trade relations with Asian markets.

3.7 The Guangdong Land Holdings Limited (www.gdland.com.hk/en)

The Guangdong Land Holdings Limited (GDLAND), with its headquarter in Hong Kong, is listed on The Stock Exchange of Hong Kong Limited, and is a subsidiary of GDH Limited, which is Guangdong Province’s largest conglomerate operating outside Mainland China.

The principal business of GDLAND is property development and investment, including but not limited to the development and operational management of the innovative commercial real estate, urban complex and industrial business complex. As the strategic arm of GDH Limited, GDLAND engages in the business development of commercial real estate, as well as the projects of urban and industrial complex.

GDLAND’s flagship project, namely the “Buxin Project”, is planned to become the biggest and most advanced jewellery mart in the world, including a large-scale jewellery trading and exhibition centre along with other facilities, with a lot size of over 87,000 square metres. The Buxin Project, which is located in the Buxin area of Luohu district in Central Shenzhen, close to the Shuibei Gold and Jewellery Base, is expected to develop the area into one of the most influential gold and jewellery trading and exchange platforms in China and around the world.

4. About UBM Asia

Owned by UBM plc listed on the London Stock Exchange, UBM Asia is Asia’s leading exhibition organiser and the biggest commercial organiser in mainland China, India and Malaysia. Established with its headquarters in Hong Kong and subsidiary companies across Asia and in the US, UBM Asia has a strong global presence in 24 major cities with 30 offices and over 1,300 staff.

With a track record spanning over 30 years, UBM Asia operates in 20 market sectors with 160 dynamic face-to-face exhibitions, 75 high-level professional conferences, 28 targeted trade publications, 18 round-the-clock vertical portals and virtual event services for over 1,000,000 quality exhibitors, visitors, conference delegates, advertisers and subscribers from all over the world. We provide a one-stop diversified global service for high-value business matching, quality market news and online trading networks.

UBM Asia has extensive office networks in China, Southeast Asia and India, three of the world’s fastest growing B2B events markets. UBM China has 11 offices in the major cities in mainland China, including Beijing, Shanghai, Guangzhou, Hangzhou, Chengdu and Shenzhen, where we organise more than 70 exhibitions and conferences. In ASEAN, UBM Asia operates from its offices in Malaysia, Thailand, Indonesia, Singapore, Vietnam and the Philippines with over 60 events in this region. UBM India teams in Mumbai, New Delhi, Bangalore and Chennai organise 20 exhibitions and 60 conferences every year across the country.

For more information, contact:

JNA Awards Marketing
UBM Asia (Hong Kong
+852-2516-2184
marketing@jnaawards.com

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Kerui Makes Inroads into the Market of Large GT-driven Screw Compressors

DONGYING, China, Aug. 26, 2014 /PRNewswire/ — Recently, Kerui Petroleum Equipment Co., Ltd. (hereinafter referred to as “Kerui”) signed a contract with a company from Southeast Asia. In accordance with the provisions of the contract, Kerui will provide a set of large GT-driven (gas turbine driven) screw compressor units to the company, which will be used in its LPG project. With the designed capacity of 1,580.8 kW, this set of units is driven by a natural gas engine. The power of the compressor axis is 1,142.2 kW, and a speed-increasing gearbox is equipped between the compressor and the engine. The overall technology is at the leading level in the world.

In order to ensure smooth delivery of the project and to meet technical requirements of customers, Kerui has established partnership with a global well-known screw compressor manufacturer and signed a strategic partnership agreement with this company, which has a long history and rich experience in the field of screw compressors, to promote the project jointly. This partnership is significant for both parties to complement each other’s advantages and to achieve the goal of win-win.

In the project, by integrating global resources and making continuous innovations in R&D and design, and based on its solid R&D foundation and proven skid technology, Kerui has provided satisfactory system solutions to its customers. Meanwhile, Kerui guarantees the project runs properly through the established partnership, strict quality control and efficient project management.

In this project, the biggest difficulty of technology is how to drive the set of units with a natural gas engine. As far as we know, only a few domestic and foreign companies have used natural gas engines to drive screw compressors. In particular, the technical requirements are very high for large-power screw compressors. After successful delivery of the project, Kerui and its partner’s compressor skid technology will make a qualitative leap and reach the global leading level, so as to help build GT-driven screw compressors both in China and in the world.

Kerui Colombia Created a New NPT Record in Daywork Drilling

DONGYING, China, Aug. 22, 2014 /PRNewswire/ — In the first half of 2014, the Z103H well, a Colombian drilling project undertaken by Kerui Petroleum Equipment Co., Ltd. (hereinafter referred to as “Kerui”), was completed smoothly. This well’s drilling period, completion period and construction period are 12.35 days, 22 days and 28.75 days respectively. Having been reduced to 2.5 hours, the Non-Productive Time (NPT) was favorably commented by Party A.

Since 2010 when Kerui started to provide the drilling and construction service for Party A in southern Colombia, this project has encountered many problems, such as difficult production organization, long distance and period of logistics, complexity of local community relations and employment environment, etc. Since the beginning of 2014, Kerui has taken a series of improvement measures, like further enhancing project plan management, strengthening process control, formulating the production and operation plan, the operators shift and incentive plan and the procurement plan in details, controlling the progress and key points, etc., in order to effectively improve production organization and project operation and to resolve relevant problems.

In the daywork drilling service launched at the end of 2013, the NPT indicator has met the requirement proposed by Party A, i.e., no more than 12 hours, and is increasingly optimized. Based on the previous well’s NPT, i.e., 5.5 hours, the Z103H well’s NPT has been reduced to 2.5 hours, thus getting the recognition of Party A.

China Zhongwang 1H2014 Net Profit Increases 18.6% to RMB1.27 billion

Declared Interim Dividend HK$0.08 per Share

Dividend Payout Ratio at 35%

Sales Volume of Deep-processed Products Jumps 39.2%

Export Sales Surges 41.2%

HONG KONG, Aug. 15, 2014 /PRNewswire/ —

Financial Highlights (Unaudited)

RMB Million

For the six months ended 30 June

2014

2013

Change (%)

Revenue

7,948

7,021

+13.2

China (as % of revenue)

6,747

(84.9%)

6,171

(87.9%)

+9.3

Overseas (as % of revenue)

1,201

(15.1%)

850

(12.1%)

+41.2

Gross profit

2,244

1,969

+14.0

Gross profit margin

28.2%

28.0%

+0.2 pct pts  

Profit attributable to equity shareholders

1,271

1,072

+18.6

Interim dividend per share (HK$)

0.08

n.a.

n.a.

Sales Highlights

For the six months ended 30 June

2014

2013

Growth (%)

Tonnes

as %
of total
volume

Tonnes

as %
of total
volume

Sales volume                                                       

368,239

316,014

+16.5

–       Industrial extrusion

306,696

83.3%

268,747

85.1%

+14.1

–       Deep-processed industrial extrusion

36,547

9.9%

26,260

8.3%

+39.2

–       Construction extrusion

24,996

6.8%

21,007

6.6%

+19.0

China Zhongwang Holdings Limited (“China Zhongwang” or the “Company”, together with its subsidiaries the “Group”, stock code: 01333), the second largest industrial aluminium extrusion product developer and manufacturer in the world and the biggest one in Asia and China, announced the unaudited results for the six months ended 30 June 2014 (the “review period”). China Zhongwang recorded steady growth in product sales during the review period. Revenue rose 13.2% year-on-year to approximately RMB7.95 billion while gross profit margin slightly increased by 0.2 percentage points to 28.2%. Profit attributable to equity shareholders increased 18.6% to RMB1.27 billion.

To reward shareholders’ longstanding support for the Company, the board of directors has proposed an interim dividend of HK$0.08 (approximately RMB0.06) per share to the holders of ordinary shares and convertible preference shares, equivalent to a dividend payout ratio of 35%. Dividend yield reaches 2.3% based on the closing price of HK$3.47 per share as at 14 August 2014.

Mr. Lu Changqing, Executive Director and Vice President of China Zhongwang, said: “During the first half of the year, China experienced moderate but stable economic growth as the country continued to drive the restructuring of its economy and vigorously implemented its industry upgrade policies, with an emphasis on the development of a green and low-carbon society. Coupled with the mild economic recovery in Europe and the United States, the macro-environment has provided a positive setting for the Group’s business development. During the review period, China Zhongwang continued to focus on its three core businesses, namely, industrial aluminium extrusion products, deep-processed industrial aluminium extrusion products and aluminium flat-rolled products. Through the three operating aspects of product innovation, capacity expansion and market development, we have enhanced our production efficiency to grasp the business opportunities arising in the high-end aluminium processing industry in both domestic and overseas markets. Hence, our results in the first half of 2014 reported ongoing stable growth.”

The Group’s sales volume of aluminium extrusion products amounted to 368,000 tonnes during the review period, representing a 16.5% growth over the corresponding period of last year. China remained the major market of the Group, where sales volume and amount grew by 13.0% and 9.3% year-on-year to approximately 323,000 tonnes and RMB6.75 billion respectively. Driven by exports of industrial aluminium extrusion deep-processed products, the volume and amount of sales in the overseas markets grew by 50.7% and 41.2% over the corresponding period of last year to approximately 45,000 tonnes and RMB1.20 billion respectively.

Industrial aluminium extrusion products — expand capacities to drive growth

As the Group’s major source of revenue and profit, the volume and amount of sales of industrial aluminium extrusion products grew by 14.1% and 10.6% year-on-year to approximately 307,000 tonnes and RMB6.54 billion respectively, accounting for 82.3% of the Group’s overall sales revenue. At present, the Group owned 93 aluminium extrusion lines with an aggregate annual production capacity of over one million tonnes. In terms of production capacity, the Group is one of the leading players in the global aluminium processing industry. The Group has ordered two 225MN horizontal single-action aluminium extrusion presses, currently the largest of their kind in the world, which are scheduled to commence production in 2015. These additional production facilities will enable us to better meet the demand for complicated, large-section industrial aluminium extrusion products by downstream customers and further highlight our advantage in production.

Deep-processing business — capitalise on light-weight development opportunities from the transportation sector

During the review period, sales of industrial aluminium extrusion deep-processed products increased by 39.2% year-on-year to approximately 37,000 tonnes in volume and by 36.0% to approximately RMB990 million in value, accounting for 12.5% of the Group’s overall sales revenue. Since the commissioning of its deep-processing centre in 2013, the Group has developed a range of aluminium alloy prototypes for the transportation sector such as aluminium semi-trailers, fire trucks and high-speed train compartments suitable for alpine cold regions, arousing the interest of many potential customers. As the Group further enhances its effort to develop the rail transport, commercial vehicles and special-use vehicles sectors, the Group will seize the opportunities brought by the light-weight development in the transportation sector.

Aluminium flat-rolled product business — commence production as scheduled to become a long term growth engine

The aluminium flat-rolled project is the largest development project ever launched by China Zhongwang since its incorporation, as well as its future growth engine in the long term. Upon completion of the project, it will become a production base featuring the world’s most advanced equipment and most comprehensive range of ancillary facilities. The project will supply products such as aluminium alloy plates, aluminium sheets and aluminium foils, which are extensively used in car bodies, parts and components, machinery making, petrochemical, aviation and aerospace, rail and shipbuilding, pharmaceutical and food packaging sectors. With its world-advanced production equipment and technologies, the Group is well-positioned to swiftly respond to the demand for high quality aluminium plates, sheets or foils from these sectors.

During the review period, construction of the Group’s aluminium flat-rolled plant was progressing as scheduled. Phase I of the project is expected to gradually commence operation in the second half of 2015 with an annual production capacity of 1.8 million tonnes. Aggregate annual capacity will be increased to 3 million tonnes by 2018.

Technology research and development enhance technical advantages with increased investment input

China Zhongwang has always been committed to product research and development, with the aim of achieving product differentiation with more sophisticated technologies and increasing the profitability in the long term. During the first half of 2014, the Group continued to increase its research and development efforts. Investment in research and development for the review period amounted to approximately RMB240 million, representing 3.0% of the overall revenue. The Group obtained 11 patents, including 4 invention patents and 7 utility model patents.

At the same time,the Group worked with a number of large enterprises and major academic institutions to create mutually beneficial partnership and cooperate in the research and development of aluminium alloy products for novel applications in the transportation sector. New strategic partners solicited during the review period included AVIC SAC Commercial Aircraft Company Limited, Shenyang Aerospace University and Dalian University of Technology.

Mr. Lu concluded: “Green and low-carbon environment has become the dominant direction in national development. In view of the increasingly stringent requirements for energy conservation and emission reduction in China, many automakers are stepping up with their effort to develop light-weight car bodies that require less fuel consumption. Given its characteristics such as lightness, ease in processing, and recyclability, aluminium alloy represents an unrivalled choice of material conducive to energy conservation and emission reduction for automakers. Meanwhile, urbanisation will drive rapid development of public transportation system. China’s vigorous effort to develop jumbo plane manufacturing and the upgrade and replacement of vessels are also offering unprecedented opportunities for the three core businesses of the Group. With its cutting-edge technologies and high-calibre personnel, state-of-art production equipment, diversified product mix and sound financial resources, China Zhongwang is well-positioned to benefit from China’s industrial restructuring and the trend to build a green society. The Group will fortify its industrial aluminium extrusion business, reinforce its deep-processing industrial aluminium extrusion business that delivers growth potential, and drive the development of its aluminium flat-rolled business in an orderly manner. With a business model formed by the three core resource-sharing and complementary businesses, the Group will realise a stable and healthy development, bringing sustainable growth and reward for our shareholders.”

About China Zhongwang Holdings Limited

China Zhongwang is the second largest industrial aluminium extrusion product developer and manufacturer in the world and the biggest one in Asia and China. It has, over the years, been focusing on the light-weight development in transportation, machinery and equipment and electric power engineering sectors through the provision of quality industrial aluminium extrusion products. It now has 93 globally advanced extrusion production lines (including 21 aluminium extrusion production lines of 75MN or above) and a production capacity of over one million tonnes per year.

In addition, to further leverage its existing strengths in the industry, the Group is developing high value-added aluminium flat rolled product business with an overall planned annual production capacity of 3 million tonnes. The project will be carried out in two phases. Phase I with a planned annual production capacity of 1.8 million tonnes will have two aluminium flat rolled production lines, the first one of which is expected to commence operation in the second half of 2015. By then, the Group will have initially achieved the goal of tapping the high-end aluminium flat rolled product sector to become our third core business complementary to and synergistic with the existing industrial aluminium extrusion product and deep-processed product businesses.

For further information on the Group, please visit http://www.zhongwang.com.

To see the full version of this release, including financial tables, click here:  http://photos.prnasia.com/prnk/20140815/8521404586