On February 25, Prinx Chengshan (Cayman) Holding Limited released its 2018 financial report. Its annual operating income and various profit items all achieved growth. Hereinto, the operating income increased by 7.6% compared with the previous year, and profit before tax increased by 167.5%. Various economic indicators such as earnings per share all showed growth.
In 2018, Prinx Chengshan realized an operating income of RMB 5,206 Million Yuan, a net profit before tax of RMB 562 Million Yuan, and a net profit attributable to shareholders of the listed company of RMB 478 Million Yuan. This was the best year for its operation in the past four years.
In 2018, the company produced 10.69 million radial tires, of which 4.78 million were all-steel tires and 5.91 million were semi-steel tires. The annual tire sales volume was 11.09 million, which was a record high, representing a year-on-year increase of 4.4%.
In addition, the company closely aligned with market demand. Its market share has further increased by increasing channel coverage. The number of vehicle type it work with vehicle manufacturers has increased by 10%. It has begun business with 43 new customers in international market, and the geographical coverage of its business has extended to countries such as Argentina and Guinea.
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