Pu Lin Chengshan announced on July 19th that it predicts the company's net profit to be between RMB 752 million and RMB 850 million for the six months ending June 30, 2024, with an expected surge of 130% to 160% compared to the same period in 2023.
This significant profit growth is mainly due to the booming production and sales of the domestic automotive industry, the steady growth of demand in the overseas tire market, and the refund of anti-dumping duties on passenger car and light truck tires originating from Thailand. Pulin Chengshan Group has always adhered to technological innovation as the driving force, continuously optimizing its product and business structure, and this strategy has achieved significant results. Its high value-added and profound product matrix has been widely recognized by domestic and foreign customers, effectively increasing the group's market share and penetration rate in various segmented markets, thereby significantly enhancing its profitability.
In the six months ending June 30, 2024, Pulin Chengshan Group achieved tire sales of 13.8 million units, a year-on-year increase of 19% compared to 11.5 million units in the same period of 2023. It is worth mentioning that its overseas market sales increased by about 21% year-on-year, and passenger car tire sales also increased by about 25% year-on-year. Meanwhile, due to the enhancement of product competitiveness, the company's gross profit margin has also significantly improved year-on-year. Looking back at the 2023 financial report, Pulin Chengshan achieved a total operating revenue of 9.95 billion yuan, a year-on-year increase of 22%, and a net profit of 1.03 billion yuan, a staggering year-on-year increase of 162.4%.
Post time: Jul-23-2024