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Major shareholder Increases Stake in the China Aluminum Echoing the Excellent 2016 Interim Results

September 1, 2016 From:China Cans Clicks:1197 Share to

Press Release [For Immediate Release]   Major shareholder Increases Stake in the ChinaAluminum Echoing the Excellent 2016 Interim Results     (30 August, 2016, Hong Kong) China Aluminu...

 

Press Release

[For Immediate Release]

 

Major shareholder Increases Stake in the China Aluminum

Echoing the Excellent 2016 Interim Results

 

 

(30 August, 2016, Hong Kong) China Aluminum Cans Holdings Limited (“China  Aluminum Cans” or the “Company”, together with its subsidiaries known as the “Group”; stock code: 6898), the largest Aluminum aerosol can manufacturer in China, announced today that the Company’s major shareholder  purchased 1,454,000 shares on the open market for an average price of HK$1.64 per share, with a total amount of approximately HK$2.385 million. The increase of the   shareholding in the Company by the major shareholder demonstrates his strong confidence in the Company’s operation and future prospects.

On 29 August, China Aluminum announced its 2016 interim results. The net profit increased by 58.2% year-on-year to approximately HK$56.4 million.  Basic earnings per share was HK9.0 cents, up 7.1% year-on-year; The gross profit grew by 23.5% year-on-year to approximately HK$124.2 million, with gross profit margin advanced by 28.1% to 35.6% year-on-year.

The Company acquired an automated production line in November 2015 and substantially increased the production capacity, in particular, for the large sized aluminum aerosol cans. It has contributed to Company’s  steady growth in production and sales.

“The newly announced 2016 Interim Results has fully reflected the Company’s competitive edge and business prospects. The major shareholder’s move to increase his shareholding in the Company demonstrated his confidence in Company's investment value as well as the future growth prospects.”  Mr. LIN Wan Tsang, Chairman and Executive Director of China Aluminium Cans, commented, "In the face of the rapidly changing market environment, the Group will continue to diversify our product mix and develop new products with high gross profits and high demand. Meanwhile, we will actively optimize and integrate internal resources to consolidate our business foundation. The Group will make further investments in upgrading existing production facilities with more advanced machinery and equipment to enhance our product quality, production capacity and efficiency in order to keep in pace with the market developments, thereby creating more profit to our shareholders.”

 

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About China  Aluminum Cans Holdings Limited

The Company is principally engaged in the manufacturing of (i) monobloc aluminum aerosol cans, which are generally used in the packaging of fast-moving personal care products as well as pharmaceutical products; (ii) the content filling of aerosol cans, and production and sale of aerosol and non-aerosol products which focuses on the development of car care service products. In terms of aluminium aerosol cans, the Company accounted more than 30% market share in China for three consecutive years from 2010 to 2012. It is the largest manufacturer of aluminium aerosol cans in China.