Shunbo Alloy has signed up Ma’anshan Shunbo Alloy Industrial Base Project Investment Contract with the Bowang District Government of Ma’anshan City, Anhui Province in China.
The site is in Bowang New City Industrial Park with Shunbo having a registered capital of CNY 1bn and an operating period of minimum 10 years. The project will be implemented in two phases with the first phase completing in 2023 and the second phase at the end of 2025.
Upon completion, the company will produce 400,000mt of green recycled aluminium, 300,000mt of flat ingots, and 200,000mt of round rods. The downstream might include aluminium plates, aluminium foils, and aluminium profiles. The annual output of 100,000mt of aluminium ash resources will be utilized to form aluminium calcium acid and prefabricated building wall panels. After the project is fully operational, the company is aiming at CNY600mn of profit.
The company has two production bases in Jiangsu and Hubei regions.
Chongqing Shunbo Aluminium refines recycled aluminium products. The Company engages in aluminium alloy ingots melting, casting, manufacturing, and marketing.
In 2020, Shunbo Alloy achieved an operating income of CNY4.869bn, up by 11.84pc, and CNY196mn profit, up by 16.44pc.
In the first quarter of 2021, the company achieved operating income of CNY1.663bn, up by 116.13pc and net profit attributable to the parent was CNY78.515mn, a surge of 135.77pc.
($1= CNY 6.45)