Aeolus tyre and Guizhou Tyre suffers huge deficit in 2017
Recently, Guizhou Tire and Aeolus Tyre announced that the two companies suffered 655 million yuan to 715 million yuan of huge deficit in 2017.
Amongst, Guizhou Tyre announced about 180-240 million yuan of deficit, yearly diving 1284%-1679% compared to 2016's 15,227,200 yuan of profit.
The company said that its integrated factory relocation plan was delayed which expanded the company's lost.
And Aeolus Tyre posted 475 million yuan of deficit in 2017, yearly decreasing 661.78%
To be noticed, the company acquired 25,770,000 yuan of government subsidy in 2017, more that the total amount of 2015 and 2016, which has positively effected on the company's operation net profit.
Aeolus tyre said that it strengthened investment on its research to enhance production quality, which led the company's management fee increasing 24.9% to 520 million yuan.
At the same time, Aeolus tyre 's financial fee yearly increased 149.37% to 120 million yuan in 2017, due to fluctuated exchange and expanded loan, the company said.
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