Linglong Tire Got Profits of 1.214 Billion Yuan in the First Three Quarters

Linglong Tire released its third quarterly report of 2019 on October 26, showing that in the first three quarters, its operation revenue was 12.509 Billion Yuan, increasing 13.26% year-on-year; and the net profits attributable to shareholders of the listed company were 1.214 Billion Yuan, increasing 37.38% year-on-year, in which the net profits attributable to shareholders of the listed company in the third quarter were 489 Million Yuan, hitting another new high for the net profit in one quarter.

Bucking the trend of decline in both production and sales of domestic automobile, Linglong Tire keeps building four core driving forces that are strategic power, product power, innovation power and brand power and achieves growth on production and sales driven by these two-wheel drive, the retail market and the supporting market.

As for the strategic power, Linglong steadily pushes forward the “5+3” strategy. In terms of domestic factories, based on these three production bases in Zhaoyuan City, Dezhou City and Liuzhou City respectively, Linglong steadily carries forward the construction of factory in Jingmen City, Hubei Province. For the overseas factories, with Thailand production base became an important engine for the growth of the company performance and its second overseas production base, Serbia factory, held the ground breaking ceremony in March this year, Linglong plans to build its third overseas production base in Americas in the future. Regarding the product power, Linglong provides products to over 100 production bases of global well-known main engine plants, such as Volkswagen, GM, Ford, Nissan, FAW Hongqi, Geely, BYD, Chery, Greatwall, FAW Jiefang, Sinotruck, Shaanxi Automobile Group, DFLZM, Shenzhen CIMC and Xiamen King Long. Meanwhile, Linglong has set up more than 30 thousand marketing branches, extending all over the world.

For the innovation power, based on the enterprise technology centers certified by the state, Linglong has 6 R&D institutions in the world, and has invested more than 600 Million Yuan to build state-certified laboratories, which have successfully developed dandelion rubber tires, 3D-printed polyurethane tires and graphene tires and launched the research on radial tires used for large aircrafts, filling a number of domestic technology gaps.

In the aspect of brand power, Linglong Tire shortlisted the “Top 500 Brands in Asia” again.