Shandong Linglong Tire's net rising by low raw materials price
Shangdong Linglong Tire Co. Ltd. (Linglong Tire), a leading Chinese tire manufacturer, saw annual growth of 23.64 percent in net profit attributable to shareholders of the listed company in the first half year of 2020.
The company said its net profit attributable to shareholders of the listed company reached 897 million yuan in the first half year of 2020.
Linglong Tire's sales revenue reached 8.24 billion yuan, down 0.8 percent year on year.
Founded in 1975 and headquartered in east China's Shandong Province, Linglong Tire sells its products to companies in over 180 countries and regions, including world-class automakers such as Volkswagen, General Motors and Ford.
The company now has two overseas manufacturing plants in Thailand and Serbia, respectively.
Amongst, Thailand factory is one of best profitable factory in Shandong Linglong Tire. In the first half year of 2020, Linglong (Thailand) reached 604 million yuan of net profit in the first half year of 2020.
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