On July 13, Guizhou Tire announced its first-half results announcement. It is expected to make a profit of RMB 80 million to RMB 115 million in the first half of the year, an increase of 160%-273% from RMB 0.3 billion in the same period of last year.
According to the analysis of the company, the main reason for the achievement was that the tire sales revenue increased significantly compared with the same period of last year, and the gross profit margin increased.
In 2017, due to the increase in raw material prices and the US “double opposition” and other factors, Guizhou tire losses amounted to 222 million yuan. In 2018, Guizhou Tire completed the adjustment of product structure and sales area structure, and the annual relocation of 3.25 million special tires. Although the export was blocked, the domestic market increased rapidly, and the tire production, sales and sales revenue were higher than the same period of last year. Both have experienced significant growth, gross profit margins have risen, and the main business has turned losses into profits.
In 2018, Guizhou Tire achieved a main business income of 5.786 billion yuan, an increase of 19.18% over 2017; the net profit attributable to shareholders of listed companies was 88.173 million yuan, an increase of 139.79% over 2017.
It is understood that in 2019, Guizhou Tire will continue to improve its product line to meet the demand-oriented sales model, maintain price stability, focus on product quality, improve product cost performance, actively adjust the effectiveness of sales structure and sales policy support, and support The Guizhou Tire Core Customer Program achieved results in the first half of the year.