Guizhou Tire performed better in H1' 2018

On August 23, Guizhou Tire released its half year performance, which showed the company performed better in the past half year of 2018.

The report said that the company realized 2.779 billion yuan of sales revenue during January to June, yearly rising by 37.95%. And net profit was 30,819,100 yuan of net profit, yearly growing 313.36%.

The company produced 2,805,300 units of tires, yearly increasing 17.39% in the first half year, and sold 2,777,600 units of tires, year-on-year up 26.46%.

Although the company's tire export was blocked, its tire sales in domestic market showed largely growing and gross profit obviously increased, which helped the company realized profitable performance.

Besides, the company completed relocating its special tire production line, which could produced 3,250,000 units of special tires every year.

The company predicted that it would sell 5,814,300 units of tire in 2018. Amongst, there would be 3,866,300 units sold in Chinese market and 1,948,000 units sold in oversea market.

In the first half year, the company has reached 47.78% of sales target, Guizhou Tire said.