Fengyuan Tire continues in red
On August 29, Shandong Fengyuan Tire Manufacture Co.,Ltd released its first half year report.
In the first six months, there have been 532 million yuan of sales revenue, yearly increasing 4.25%. However, the company was still in red, posted 26,742,000 yuan of net deficit belonging to shareholders at the same time.
To be noticed, the company has kept for net loss in the past two and half years since 2016.
In 2016, the company posted 8,076,500 yuan of net deficit and 49,465,000 yuan of net loss in 2017.
The report said compared to 2017, the company has two changes. The first was the growth rate obviously slowed down. Its total asset growth rate slid to 2.33% from 2017's 13.97% and sales revenue growth rate decreased to 4.25% from 2017's 69.39%. The second was the company's cash flow turned better from 2017's 36,948,000 yuan of loss to 2018's 13,262,000 yuan of loss.
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