A jump in results | Triangle Tyre released its semi-annual report

On August 27, Triangle Tyre released its semi-annual report. It has achieved growth against the trend in main economic indicators, with total output of 10.35 million tyres, a year-on-year increase of 20%, and total sales of 10.19 million tyres, a year-on-year increase of 7.7%, registering an operating income of RMB 3,861 million, a slight year-on-year decrease of 0.57%, net profit of RMB 456 million, a year-on-year increase of 21%, and earnings per share (EPS) of RMB 0.57, a year-on-year increase of 21%. These were very exceptional results, adding a touch of color to the development of the industry in the shadow of COVID-19 epidemic.

Since the start of this year, the combination of the COVID-19 epidemic and international trade friction brings about a decline in domestic consumption and investment, and a setback in export, causing an unprecedented impact on the tire industry. In the face of difficulties and challenges, Triangle Tyre guides the market depending on its products and services, and makes appropriate adjustment to its market layout by steadfastly adhering to its brand strategy. Thanks to these efforts, it has scored steady growth in production and sales against the trend for the first and second quarters, demonstrating its brand strength.

Since the second quarter of this year, with the downgrading of the epidemic risk and the recovery of social and economic activities in China, the market demand is gradually released, especially the resumption of logistics and infrastructure construction activities, giving an impetus to the growth of supporting services for commercial tires and radial engineering tires. By discovering potential customers and demand in the international market, Triangle Tyre has gained an increase of over 20% in foreign sales in the first half of the year compared to the same period last year, with a significant increase in the sales of passenger car tyres in North America, Europe, Asia-Pacific and the Commonwealth of the Independent States (CIS), the Middle East, Africa and other regions.

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