Capacity utilization of Xingyuan Tire over 90%

Recently, Shandong Xingyuan Tire Group released its operation in 2017.

In 2017, Xingyuan Tire's capacity utilization surpassed 90%, higher than industrial average level. With sufficient full-steel tire order， the company's operation kept good, Xingyuan tire said.

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. Shandong Guangda Tires Co., Ltd., Shandong Xingyuan New Building Materials Co., Ltd. and Shandong Xingyuan New Wall Body Co., Ltd. It is a large diversified private joint-stock group company focused on the production of tires while integrating new building materials and new product development. The group has a total staff of more than 5,000 people, including more than 680 engineering and technical personnel, with total assets of 5.8 billion yuan.

The Group now has an annual output of 5.8 million sets of all-steel truck radial tires, and possesses seven leading brands: “HILO”, “National Treasure”, “Annite” “Qiangwei”, “AMBERSTONE”, “Guangda”, and “Xingyuan”, among which the HILO trademark has been identified as “China Famous Brand” by the State Administration for Industry and Commerce. Our products have passed the ISO/TS16949, ISO9001 Quality Management System certification, ISO14001 Environmental Management System certification, the CCC certification, the U.S. DOT certification, the European ECE certification, the Brazil INMETRO certification, the Indian BIS certification, and the Kenyan ITS certification.

Statistics showed that by the end of 2017, Xingyuan Tire's total assets has reached 11.584 billion yuan,rising by 8.19% compared to the same period of 2016; the company's debt yearly decreased 2.13% to 4.371 billion yuan.

In 2018, the company has to pay back 3.31 billion yuan. And the company claimed that it was working on a proper financing plan to love the problem.