Aeolus Tyre H1 Revenue Plunges
Aeolus Tyre released on Aug. 29 the interim report for 2016.
The company’s operating revenue lessened 13.64% year on year in the first half of this year to 2.85 billion yuan; and the net profit attributable to shareholders declined 1.76% to 144 million yuan.
Included was tire business revenue of 2.84 billion yuan, down 10.89%, with a gross profit margin of 21.37%.
The company’s domestic operating revenue dropped 11.69% to 1.44 billion yuan and the overseas revenue fell 10.05% to 1.39 billion yuan.
According to Aeolus Tyre, it still made great contribution to the society, maintained good profitability, and the sales margin also increased year on year.
In the first six months, Aeolus Tyre paid taxes of 129 million yuan, down 2.8% year on year.
Since the beginning of this year, affected by sluggish domestic market demand, increasing international trade barriers as well as RMB depreciation, Aeolus Tyre’s operating revenue fell considerably, but its sales profit margin increased to 6.15% from 5.67% in the first half of 2015.
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