Recently, Triangle Tire Co.,Ltd released its third quarter report.
The company produced 4,279,300 units of tire in the third quarter, selling 4,554,000 units and realizing 1.952 billion yuan of revenue, rising by 20% compared to the same period of 2016.
In the first nine months, the company realized 6.035 billion yuan of revenue, year-on-year rising by 21.88%, and 369 million yuan of net profit belonging to shareholders, yearly decreasing 35.02%.
The report said that the company received 315 million yuan of land compensation from Weihai local government. By the end of September, the company has received 1.441 billion yuan of land compensation.
In the third quarter, the company decreased its tire price by 3% compared to the second quarter, which increased revenue cost.
