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Hongyuan Wheel 2016 revenue surges

Zhejiang Hongyuan Wheel Co., Ltd. has lately released the annual report for 2016, showing its operating revenue rose 23.28% year on year to 202 million yuan.

As of 2016, Hongyuan Wheels’ assets totaled 286 million yuan, up 0.17% from the end of 2015; and the asset-debt ratio was 26.43%, growing 0.66 percentage points from 25.77% a year ago.

The net cash flow from its operating activities was -9.38 million yuan, while that in end-2015 was -17.11 million yuan.

During the reporting period, Hongyuan Wheel’s sales spending was up 82.44% year on year, largely due to greater sales volume, rising transportation costs, and higher bonus for salespeople.