Tire Listed Companies Reported Half-Year Results

On August 2, Linglong Tire fired the first volley in the semi-annual performance competition of listed tire companies. Another six listed tire companies in China also announced the operating data for the first half of 2018 subsequently. Among the ten listed tire companies, Giti Tire, Aeolus Tyre and Shandong Fengyuan Tire have not disclosed their semi-annual results.

Tire Listed Companies’ Half-Year Results Statistics

Unit: 100 million RMB

It can be seen that 4 companies saw an increase in the operation revenue, while 3 other companies suffered a decline in the operation revenue. Both the increasing rate and the decreasing rate were less than 10%.

As for net profit attributable to shareholders of listed companies, 4 companies have achieved positive growth. Among them, Sailun Jinyu Group and Guizhou Tires witnessed a high growth rate. Linglong Tire achieved the highest rate of 20.77% to 524 million RMB.

Industry experts said net that prices of natural rubber, synthetic rubber and steel cords have stayed at lows this year, but prices of carbon black, rubber additives, energy, manpower and environmental protection costs were still at a high level.

However, in the first half of 2018, the overall prices of the main feedstock of tires has dropped somewhat from last year. At the same time, the price hikes of tires eased the cost pressure. These have a positive impact on the industry's semi-annual and even full-year profit levels.

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