Taiwan-based Nankang Rubber Tire Corp. has released the business performance for May, showing its business income reaching 1.06 billion NT dollars, hitting a two-year high.
Statistics show that the company’s operating margin for the first quarter of this year was 20.02%, up 5% from the same period of last year; the net profit after taxes was 171 million NT dollars.
Nankang’s sales high-end ran-flat tires ran hot in European market, which was the key driver for the company’s revenue growth.
As the costs of raw materials keep declining, Nankang will roll out several new models with high added value in the second half of this year and is optimistic about the market this year.
Nankang’s three factories located in Taiwan and the Chinese mainland are at full capacity.
Over the past two years, Nanking adjusted product structure, concentrated more on R&D of high-tech products, and its profitability increased considerably.
Its run-flat tires were tested in Spain, passed the standards of BMW, and were officially launched in Europe.
Its special-purpose tires were exhibited in REIFEN lately and gain popularity among European customers.
Nankang’s product strategy is to improve the product line, satisfy the demands of the market and customers, and to become a first-class brand.
The company is mulling over cooperating with European brands and expanding the European market further. But it didn’t disclose the detail.
