Aeolus Tyre H1 suffers severe losses
Aeolus Tyre Co., Ltd. released Aug. 30 the interim report for the first half of this year.
During the reporting period, Aeolus Tyre’s operating revenue totaled 3.74 billion yuan, up 4.46%.
At the same time, the net profit attributable to shareholders suffered a loss of 112 million yuan, plunging 218.33% over the same period last year.
Excluding non-recurring items, its net loss reached 124 million yuan.
In terms of return on investment, the tire producer’s return on equity was -4.7%, lessening 7.86 percentage points from the same period a year ago.
It means that in the first half of this year, the company has been loss making.
The company said its overseas sales income during the first six months was 1.69 billion yuan, accounting for 45.17% of the total operating income, keeping the export advantage among domestic brands in general, and it also maintained the leadership among domestic truck and bus tire exporters.
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