Triangle tire released its 2017 annual report on April 26.
The company said that it realized 7.92 billion yuan of operation income in 2017, year-on-year rising by 18.05%.
Due to soaring raw materials' price , the company's net profit decreased to 483 million yuan compared to the same period of 2016.
Triangle Tire Co. Ltd. (stock code: 601163) was founded in 2001. As the tire industry leader in China, its range of products covers commercial tires, passenger tires, bias OTR tires, radial OTR tires and jumbo OTR tires, etc. Up to now, its annual production capacity has reached 22 million units.
Triangle Tire Co. Ltd., the main body of Tire Industry Tech- innovation Strategic Alliance in China, has a national technology development center, a national industrial design center, a post- doctoral scientific research station, and an American technology research & development center. What deserves to be pointed out is that the sole national engineering laboratory for tire industry in China has been built by Triangle Tire Co. Ltd.
After expansion project coming into operation, the company could produce 30 million units of tire per year.
Triangle tire's Huamao company will increase over 1 million units/year of high-performance commercial vehicle tires in the first half year of 2019.
Meanwhile, its Huayang company will increase over 4 million units/year of high-performance passenger vehicle tires at the same time.
Additional, Triangle Tire's American plant will be started construction in 2018. After competition, the company will increase 5 million units/year of high-performance passenger tires.
