Xingyuan Tire post decline in 2017

Xingyuan Tire Group recently announced that the company realized 10.945 billion yuan of operation revenue in 2017, declining 1.9% compared to the same period of 2016. Its net profit decreased 8.8% to 772 million yuan.

Xingyuan Tire mainly focused in Chinese market. The company realized 8.718 billion yuan of operation revenue in Chinese market in 2017, taking 79.65% of total revenue.

It is found that the company has 27 external guarantees for eight companies, with 1.679 billion yuan of guarantee value.

Shengtai Group and Hongyu Rubber respectively got 9 external guarantees and 6 external guarantees.

Shengtai Group accumulated acquired 870 million yuan of guarantee value. 

Since Shengtai Group's capital chain broke at the beginning of 2017, Xingyuan Tire intervened and provided capitals for Shengtai Group's full-steel tire project in the middle of 2017 under Guangrao government's persuade.

Xingyuan Tires Group is located in Guangrao Country, Dongying, one of the country’s top-100 counties, and the hometown of Sun Wu, enjoying a long history, a prosperous economy, and convenient transportation. It is also an emerging industrial manufacturing base in Shandong Province.

Founded in 1994, the Group consists of four subsidiaries: Xingyuan Tires Group Co., Ltd., Shandong Guangrao Xingyuan Rubber Co., Ltd.