Guizhou Tyre's net profit nosedived in 3Q'

Guizhou Tyre released its third quater report on Oct. 30 that the company posted 1.4 billion yuan of sales revenue during June to September in 2015, yearly decreasing 16.56%, and its net profit declined 40.03% to 11.628 million yuan at the same time.

Due to dropping tyre price, the company's stock value was also cut by 42.11 million yuan in the first nine months. But sales decline contributed most on the company's profit drop, the company said in the report.