GITI tire released its 2017 annual report
GITI tire released its 2017 annual report on April 16 night.
The company said that it realized 3.458 billion yuan of operation income in 2017, year-on-year rising by 14.36%, creating the historical record.
Amongst, the company sold 3.424 billion yuan of tires, realizing 12.49% of gross profit.
In 2017, the company realized 1.687 billion yuan operation income in Chinese market and 1.737 billion yuan in oversea market.
But the company's profit yearly decreased to 61,110,000 yuan, due to soaring raw material price.
To be noticed, the company's receivable account increased 54.83% to 1.08 billion yuan, compared to the beginning of 2017.
The company explained that it adjusted its market structure in 2017, which led its receivable account growth.
In 2017, GITI tire produced 16,612,200 units and sold 16,539,700 units.
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