Prinx Chengshan (Cayman) Holding Limited recently subjected IPO document to HONGKONG Exchange, and applied for listing in main board market.
The company released its revenue in the past few years. In 2015, Prinx Chengshan posted 3.522 billion yuan of operation income and 163 million yuan of net profit. In 2016 and 2017, the company realized 3.822 billion yuan and 4.84 billion yuan of operation income, realizing 291 million yuan and 174 million yuan.
The company said in the past three years, raw materials' cost took 68.2%, 74.5% and 78.4% of production cost in the past three years. If raw materials keep soaring, it will effect on the company's operation.
By the end of 2017, Prinx Chengshan owned 200 agencies in China and 156 agencies overseas. Its cooperation companies included China National Heavy Duty Truck Group, China First Automotive Group and so on. At the same time, the company also supplied OEM tires for Cooper tire.
According to the documents, Prinx Chengshan was the 5th largest Chinese Commercial All Steel Radial Tires Manufacturer in 2016, and ranked 3rd within the replacement tire segment of such market for the same year.
The company is the 10th largest Chinese tire manufacturer and ranks as the 8th and 10th largest Chinese tire manufacturer in the All Steel Radial and Semi-steel Radial Tire market, respectively.
In 2017, Prinx Chengshan's all-steel and semi-steel radial tire sales took 95.7% of total sales.
The company predicted that it will realize 2.5% and 10.9% of growth on all-steel tire and semi-steel tire sales.
