Guizhou Tire deficit in Q3'
Guizhou Tire released the third quarter report on Oct.28, and posted 5.037 billion yuan of revenue in the past nine months, rising by 23.66% compared to the same period of 2016.
The company reported 1.88 billion yuan of sales revenue during July to September, yearly rising by 28.86% compared to the same period of 2016.
However, the company's net profit dove to deficit with sales income largely raising.
Statistics showed that Guizhou Tire reported 21,650,000 yuan of deficit in the third quarter, yearly diving by 137.55%. In the past nine months, the company report 13,300,000 yuan of deficit, yearly decreasing 289.22%
Except surging raw material price, the company's export also affected by anti-dumping and anti-subsidy duties from America.
Meanwhile, the company received 150 million yuan of land compensation from local government in the third quarter 2016, which is another reason that the company's revenue slid 99.58% in the third quarter in 2017.
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