Aeolus Tire released its first quarter operation report.
The report said that the company produced 1,319,200 units of tire in the first three months of 2018, and sold 1,276,200 units.
The company posted 1.434 billion yuan of operation revenue at the same time, yearly decreasing 25.29%, and 103 million yuan of net deficit belonging to shareholders.
The company said said that soaring raw materials price led to worsen performance.
In the first quarter of 2018, natural rubber price rose by 2% compared to the fourth quarter of 2017, and compound rubber up 1.5%.
At the same time, carbon black price lifted 4.3%, and steel cord increased 6.6%
While, Aeolus tire price only went 1% up, which could not offset raw materials' growth.
