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Sailun Tyre's net surged in first three quarters

Sailun Group released its performance datas of third quarter on Oct.15.

Sailun Tyre performed well in the first three quarters, and its net profit largely increased compared to the same period of last year.

Statistics showed that the company posted 11.163 billion yuan of sales revenue, yearly decreasing 1.45% and 1.73 billion yuan of net profit belonging to  shareholders, yearly surging 23.4%.

Amongst, the company produced 11,610,700 units and sold 12,131,100 units of tires in the third quarter of 2020, and realized 4 billion yuan of sales income.

Besides self-made tire production, Sailun Group also sold other tyre companies' production.

During July to September, Sailun Group realized 209 million yuan of tire trade revenue. By the end of September, Sailun Tyre's total assets has reached 20.54 billion yuan, yearly increasing 14.91% compared to the end of 2019.

Due to raw material price change, the company's tyre production price also declined 6.17% in the third quarter, yearly declining 6.17%.

At the same time, price of natural rubber, carbon black, synthetic rubber and steel cord decreased 14.23% at the same time, which is one of reason that its profit grew in the past nine months.