Major operating data for the first quarter of 2017 released by Triangle Tire Co. Ltd. on April 21 indicated that the purchasing price of major raw materials needed for tire manufacturing had risen by about 25% on average, leading to the surge in operating costs. Although tire prices rose by about 8%, it still caused the net profits belonging to shareholders of the listed company to see a month-on-month decrease of nearly 40%.
The tire output of Triangle Tire in the first quarter was 5,212,500, its sales was 5,569,900 and its output-sales ratio reached 106.86%; its operating avenue reached RMB 2.16 Billion Yuan, increasing by 22.8% compared with that of the fourth quarter of last year; its net profits were RMB 157 Million Yuan, decreasing by 39.1% compared with RMB 258 Million Yuan in the fourth quarter of last year.
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