Xingyuan Tire Group released its operation performance in the first half year of 2018.
The report said that the company posted 5.522 billion yuan of sales revenue in the first half year of 2018, yearly decreasing 334 million yuan compared to the same period of 2017. And the company announced 345 million yuan of net profit, yearly decreasing 15.47%.
At the same time, the company's gross profit ratio also declined to 12.72% in the the first half year of 2018 from 2017's 13.69%.
At the same time, the company's loan from bank increased 1.077 billion yuan to 3.774 billion yuan by the end of June 2018.
Xingyuan Tire has mortgaged parts of machines and product storage to the bank.
