On August 21st, Guizhou Tire, the leading commercial tire manufacturer in China, took the lead in releasing its financial report for the first half of 2023. Against the backdrop of continuous downturn in the industry, how did Guizhou Tire achieve a surge against the trend?
Data shows that Guizhou Tire's revenue in the first half of the year reached 4.441 billion yuan, a year-on-year increase of 12.45%. Based on this growth rate, Guizhou Tire is expected to hit the target of 10 billion yuan this year.
In terms of profits, Guizhou Tire has performed surprisingly well, with a net profit of 340 million yuan, a year-on-year increase of 112.02%! Profit growth far exceeds revenue, indicating that Guizhou Tire's products are both good and popular!
In terms of tire production and sales, Guizhou Tire produced 4.0352 million tires in the first half of the year, a year-on-year increase of 9.04%! The sales volume reached 3.9396 million units, a year-on-year increase of 14.37%!
There are four main factors contributing to the surge in tire performance in Guizhou:
1. After the end of the epidemic, the domestic economy has steadily improved, driving an increase in demand for tires.
2. Vietnam's tire factory has been put into operation, and overseas demand continues to increase.
3. The continuous growth of the construction machinery tire sector is driving.
4. Tyres mainly from the Three Super Series have received market praise.
Disclaimer: The image materials and articles on this platform come from the internet, so the copyright belongs to the original author. If any infringement is caused to your copyright and interests, please contact us. We apologize deeply and promptly delete it. Article source: Car and Wheel
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