Triangle Tire posts 75.38% of net growth in 2019
On April 22, Triangle Tire released its 2019 annual report and quarterly report of the first quarter of 2020.
The annual report showed that Triangle Tire realized 7.94 billion yuan of sales revenue, year-on-year increasing 5.72% compared to the same period of 2018, and 847 million yuan of net profit belonging to the shareholders, yearly surging 75.38%.
The company contributed the growth to its brand influence lifting in China and overseas, which led to sales revenue and market share increase.
In 2019, the company produced 19,058,700 units of tires, year on year increasing 13.62%, and sold 20,221,600 units of tires, yearly up 20.69%.
The company said it would launch more new products in 2020 including commercial tire, passenger tire, engineer tire and special tire etc..
According to its first quarter report, Triangle tire announced 1.811 billion yuan of sales revenue in the first three months, yearly decreasing 3.82%, and 160 million yuan of net profit belonging to shareholders, yearly increasing 5.35%.
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