CEFC Anhui International to Enhance Tire Market Development
CEFC Anhui International Holdings Co., Ltd. released on Aug. 19 the interim report for 2016.
During the reporting period, the company’s business revenue surged 132.08% year on year to 5.27 billion yuan and the net profit attributable to shareholders jumped 148.92% to 106 million yuan.
The company attributed the business growth to better profitability after divesting the agrochemical business and focusing on the development strategy of “energy+finance”, which kept stable growth.
At the same time, the company’s new rubber business developed well and became a new driving force.
In the first half of this year, the company’s business sector of energy earned a business profit of 110.96 million yuan by trading product oil and fuel oil; and that of finance earned 92.77 million yuan, largely from the factoring business.
As the development potential of natural rubber grows, CEFC Anhui International said it plans to enhance developing end customers, such as tire producers, in the second half of this year, expand market occupation, and further increase the profit margin of its rubber trade.
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
