China Zhongwang and Brilliance Bus Join Hands to Successfully Develop All-Aluminium New Energy Public Buses

HONG KONG, July 20, 2015 /PRNewswire/ -- 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, announced that it has successfully designed, manufactured and developed all-aluminium new energy electric buses for Brilliance Bus (Dalian) Company Limited ("Brilliance Bus"). This co-operation marks China Zhongwang's inauguration as the first and only aluminium processing enterprise in China to have the capability of undertaking both the design and manufacturing of all-aluminium new energy public buses.

Brilliance Bus Designer Sun Hong said, "The strategic partnership between Brilliance Bus and China Zhongwang combines Zhongwang's strengths in the development and formation of aluminium alloy, and welding of aluminium extrusion products, as well as Brilliance Bus' expertise in the field of passenger vehicles, to usher in a whole new era of ultra-lightweight aluminium body electric buses. This is a breakthrough from the conventional image of "Square Body, Round Corner" buses. We see enormous growth potential for this new generation product."

The frame and body of this new public bus model use aluminium alloy as the key material.  Its weight is reduced by 40% compared to its steel counterparts. Aluminium-bodied vehicles are more durable, corrosion resistant and have better vibration absorption capabilities. The lighter auto bodies increase the vehicles' driving range, thereby conserving energy and reducing operating costs. In order to reduce the urban air pollution problem, China has enacted policies to encourage the development of new energy vehicles. These policies have played an important role in driving the growth of aluminium applications.

China Zhongwang has now completed two vehicle prototypes for Brilliance Bus, of which the first prototype is for display, and the second is currently undergoing road tests. It will commence mass production after passing the road test.

Mr. Lu Changqing, Executive Director and Vice President of China Zhongwang, said, "Brilliance Bus and China Zhongwang are working hand in hand to promote further developments in the reduction of carbon emissions in the global transportation sector. China Zhongwang has been actively advancing its Tianjin aluminium flat-rolled product project. The first production line under Phase I of the project, which is designed for production of medium-to-high-thickness plates that are used in the transportation sector, will commence operations by the end of this year. The completion and the operation of the project, together with our existing industrial aluminum extrusion and deep processing businesses, will enable the Group to develop and introduce an array of new light-weight products, technologies and manufacturing processes, further enhancing China Zhongwang's market position as Asia's leading developer and manufacturer of aluminium processed products."

For more information please visit: http://www.zhongwang.com/en/index.php?ctl=news&act=detials&cid=78&infoid=79&did=952

About China Zhongwang Holdings Limited

China Zhongwang is the second largest industrial aluminium extrusion product developer and manufacturer in the world and the biggest in Asia. It has, over the years, been focusing on the light-weight development of transportation, machinery and equipment and electric power engineering sectors through the provision of quality industrial aluminium extrusion products. It now has 93 internationally advanced aluminium extrusion production lines including 21 production lines of large-scale aluminium extrusion presses of 75MN or above.

In addition, to further leverage its existing strengths in the industry, the Group is developing the high value-added aluminium flat-rolled product project. With a total designed annual production capacity of 3 million tonnes, the project is scheduled for development in two phases. Phase I of the project with a planned annual production capacity of 1.8 million tonnes consists of two production lines. Plant construction has been completed and equipment installation and testing is underway, to be followed closely by trial operation. This new business venture will not only enable the Group to further capitalize on its leading edge in aluminium alloy smelting and casting and product research and development, but also achieve synergies with its existing industrial aluminium extrusion and deep processing businesses by taking full advantage of their customer and market resources in related downstream application sectors.

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

About Brilliance Bus (Dalian) Co. Ltd.

Brilliance Bus (Dalian) Co., Ltd. was established on July 29, 2010 with investments from Brilliance Automotive Investment (Dalian) Co., Ltd, as an automobile manufacturing enterprise. Brilliance Bus is committed to the development and manufacturing of new energy buses, new energy transportation vehicles and high-end private cars. The company's current products include city buses, group tourist buses, clean energy LNG buses, new energy all-electric buses, non-tank conversion transportation vehicles, all-electric sanitation vehicles and more. As well, the company is also involved in the entire vehicle production line from welding, painting, assembling and manufacturing to vehicle performance tests and processing of various equipment parts. In addition to the manufacturing of passenger vehicles and expansion of new product categories, Brilliance Bus also serves as the production platform for Dalian's special category coaches, new energy vehicles and school buses.

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