Qingdao Sentury updates pre-IPO files

On Oct. 19, Qingdao Sentury Tire updated its pre-IPO files. The company released its first half year performance, which has been four months that it first posted its prospectus on May 4.  

The report said that the company posted 1,931,453,400 yuan of sales revenue, and 218,384,500 yuan of net profit belonging to shareholders, showing 27.7% of gross profit.

The company said that Qingdao intelligent program has completed construction and planned to operate. After coming into operation ,Qingdao factory could produce 5,285,500 units of tires every year, realizing 690 million yuan of sale revenue.

And its Thailand factory has finished equipment debugging in the first half year of 2018, expected to produce 4,631,200 units of tires every year, realizing 210,341,400 yuan of net profit.

The company plans to fund capitals for a 80,000 units/year of air tire production line, which could realize 385.8 million yuan of sales revenue and 98,122,600 yuan of profit every year after completion.

It is predicted that the company would go public in the the first half year of 2019.