Double Coin realizes revenue growth in 3Q'
Double Coin Tire released its third quarter report in recent days. The company realized 8% of revenue growth in the first three quarters. While, it first-half-year revenue growth was in red, about -16.34%, according to the report.
Journalists from Tireworld learned that the company collected 1.83 billion yuan subscribed capital after issuing new shares, yearly increasing 105.77%. Meanwhile, with Huayi Group paying 240 million yuan of land compensation, the company's non-operating revenue grew 142.93% compared to the same period of 2014.
The report also showed that the company's net profit was still in defict, year-on-year nosediving 202.12% to -177 million yuan.
On Sep.30, Double Coin announced that the company would close its bias tire production line in Shanghai Donghai Tire Co.,Ltd.
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