Sailun Jinyu oversea factory forward thrust
On April 28, Sailun Jinyu Tire released its 2017 annual report.
It is found that overseas factory is the main profit resource for Sailun Jinyu Tire Co.,LTD. Statistics showed that the company posted 13.807 billion yuan in 2017, year-on-year rising by 24.02%, and 330 million yuan of net profit belonging to shareholders, yearly decreasing 8.93%.
Sailun Jinyu Tire has six subsidiaries in all. Its plants in Vietnam posted 341 million yuan of net profit in 2017, comparing to its Shandong branch's deficit.
With half-steel tire project coming into operation, the company's half-steel tire orders will be transferred to Vietnam plants, which would largely lift Vietnam factory's profit capacity.
By the end of 2017， Sailun Jinyu tire has reached 15.055 billion yuan of total assets, yearly lifting 16.64%, and 5.967 billion yuan of net profit belonging to shareholders, surging 31.66%.
At the same time, Sailun Jinyu produced 35,641,400 units of tires, up 14.42% and sold 35,122,800 units, up 14.16%. The company realized 9.886 billion yuan of overseas sales, and 2.875 billion yuan of domestic sales.
The company also said that it plans ti produce 38 million units of tires in 2018.
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