Guizhou Tyre makes profit in Q'3 on governmental compensation
Recently, Guizhou Tyre announced its performance in the third quarter of 2016.
During January to September, Guizhou Tyre announced that the company earned 6.5 million - 9.6 million yuan of net profit, compared to last year's 80,488,600 yuan in the same period.
In the third quarter, the company showed 57,117,100 - 60,217,100 yuan of net profit, compared to last year's 14,971,400 yuan in the same period.
Statistics showed that surging net profit helped the company avoiding deficit in the last nine months, but still declining compared to the same period of 2015.
The report said that due to local governmental's shanty areas rebuilding policy, the company recieved 150 million yuan of compensation in July. And it is said that the company could recieved 266 million yuan of compensation from local government after the whole rebuilding project completion, which helped the company avoiding deficit in the report.
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