Shandong Linglong Tire released on Aug. 24 the interim report for 2016.
Statistics show that the company’s business revenue grew 11.89% year on year to 4.74 billion yuan in the first six months of this year; the net profit attributable to shareholders totaled 557 million yuan, surging 1379%; and the net profit excluding nonrecurring items reached 533 million yuan, up 105%.
The company aimed at boosting its business revenue and net profit to 9.2 billion yuan and 700 million yuan, respectively, in 2016.
As of end-June, the company’s business revenue accounted for 51.52% of its target for this year, and its net profit accounted for 79.57%, meeting the targets for the first half.
In the first six months, Linglong Tire’s revenue from main businesses totaled 4.66 billion yuan, with a gross profit margin of 31.91%.
Included were 2.20 billion yuan from domestic sales, up 9.28%, and 2.46 billion yuan from overseas sales, up 14.18%.
The company applied for 45 patents in the first half, including 15 patents of invention, 18 patents of utility model and 12 patents of appearance.
According to Linglong Tire, its competences exist in technical R&D, independent innovation, equipment and technique, quality, brand visibility, and marketing skills.
In the first half, Linglong Tire continued promoting globalized manufacturing strategy and improved the product quality of its Thailand plant, with an international sales structure taking shape.
