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Linglong Tire's net down in Q1' 2017

Linglong Tire released its performance report in the first quarter of 2017 on April 26.

The report said that the company realized 3,374,391,800 yuan of revenue in the first three months of 2017, year-on-year rising by 51.19%, but net profit yearly down by 6.67% to 255,305,800 yuan.

The company said that it increased its tire product price in the first quarter of 2017, but price growth didn't remove raw materials' growth.

Not long before, the company released its annual report, reporting 10.518 billion yuan of revenue in 2016,year-on-year increasing 20.43%, and 1.01 billion yuan of net profit, yearly up 49.11%.