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Shandong Fengyuan Tire posts net surging in H1' 2020

Shandong Fengyuan Tire released first half year report of 2020 on August 4.

The company announced that it realized 482 million yuan of sales revenue by the end of June 30, yearly declining 19.43%, and 6,114,000 yuan of net profit belonging to shareholders, making a profit instead of suffering a loss.

And the company's gross profit ratio year-on-year increased 3.97% to 18.96%.

The company reported 1.967 billion yuan of total assets, slightly sliding 7.4% compared to the beginning of 2020, but net asset belonging to shareholders rose by 0.8% to 773 million yuan at the same period.

Fengyuan Tire contributed its growth to process control and meticulous management, raw materials' price declining.

Additional, Fenyuan tire's sale completed 115.54% on the basis of schedule, and its export created historical high, especially self-brand export post 18% higher than historical record.