Annual Sales of Himile Science & Technology’s Tire Molds exceed RMB2 bln

In spite of macro-economic slowdown and the U.S.’s anti-dumping and anti-subsidy probe in 2015, the operating revenue of Chinese tire mold manufacturer Himile Science & Technology still rose 26.87% year on year to 2.30 billion yuan, and the net profit attributable to shareholders increased 28.57% to 646 million yuan.

Over the past three years, the company’s compound annual growth reached 42.41%, much faster than domestic industry’s average of around 5%.

With regard to the product structure, revenue generated from tire molds was estimated to reach 2.01 billion yuan and account for nearly 90% of the company’s total.

Himile Science & Technology said the consecutive growth was contributed by the firm’s advantages in three aspects.

First, the company’s core equipment was supplied by Himile Group and it spent a fortune in purchasing advanced equipment for specific manufacturing segments. Himile had engaged in R&D as well as manufacturing of special-purpose processing equipment for tire molds for a long time.

Secondly, the company’s employees almost doubled in 2-3 years and enhanced its talent storage.

Thirdly, the company has rich experiences in molds processing and its products have covered all tire mold categories.

Himile is expanding the business to advanced machinery processing. It manufactured and processed parts and components for GE’s large capacity gas turbines and the business income surged 90% in 2015.

In addition, its precision casting business was expected to grow 50% to 113 million yuan.