Despite an unfavourable market environment and intensive competition, the Group has invested a total of HK$42.1 million in capital expenditure and HK$215.2 million in the establishment of two new extrusion manufacturing joint ventures in Nanhai, PRC, in order to maintain the Group's leading position in the market. These investments have enabled the Group to secure its status as the largest aluminum extruder in Asia.

The Group's major subsidiary, Asia Aluminum Group Limited ("AAG"), which is engaged in the manufacture of aluminum and stainless steel products, contributed a net profit of HK$128.8 million, an increase of 2.7% from the previous period.

Mr Kwong Wui Chun, Chairman of Asia Aluminum Holdings said: "The PRC continues to be our largest and most promising market. We are pleased to report that aluminum extrusion and panel supply contracts have already been secured for Guangzhou Airport and several massive residential projects in Shanghai and Fujian. There are many others currently under negotiation."

In Hong Kong, the Group has obtained a supply contract for the Science Park. Sales to international markets and the PRC domestic market were HK$242.3 million and HK$700.0 million respectively.

"We will pursue a multi-faceted growth strategy through a combination of vertical and horizontal expansion. We will continue to expand our production capacity through mergers and acquisitions to achieve economies of scale and strengthen our position as a global player in the industry. We are confident that the two new joint ventures will become major profit contributors to our Group in the near future," continued Mr Kwong.

Asia Aluminum Holdings Limited (SEHK: 930) is a world leading manufacturer of aluminum extrusion and stainless steel products for the infrastructure and construction industries. Headquartered in Hong Kong, the Group operates five extrusion plants in Nanhai, PRC with a total annual capacity of 120,000 metric tonnes, being the largest in Asia.