On March 27, Jiangsu Xingda Steel Tyre Cord Co., Ltd. published its unreviewed 2019 performance report, its realized operating revenue of the whole year was 7.583 Billion Yuan, with an increase (year-on-year, the same below) of 0.3%; its gross profit rate increased by 1.9 percentage points to be 19.4%, and its net profit attributable to the shareholders rose by 9.5% to be 288.80 Million Yuan.
As one of the largest radial tire steel tire producers in China, in 2019, with its strong business network, the total sales of framework materials of Xingda reached 818300 tons, with an increase of 2.2%. Among it, the total sales of radial tire steel cord increased by 1.5% to be 676600 tons, accounting for 82.7% of total sales; the sales of the products such as bead wire increased by 5.7% to be 141700 tons.
Seen from market segmentation, the sales of steel cord in domestic market increased by 0.7% to be 501400 tons, accounting for 74.1% of total sales of steel cord; the sales of steel cord in overseas market increased by 4.0% to be 175200 tons, accounting for 25.9% of total sales of steel cord, and the clients were mainly from the countries such as Thailand, Brazil, Germany and Slovakia.
By the end of 2019, the annual capacity of Xingda Steel Tyre Cord had reached 730500 tons, in which the annual capacity of Jiangsu and Shandong production base respectively reached 627000 tons and 103500 tons. Xingda continues to promote its global strategy, it has completed the construction of the plants for Thailand Factory and put into trial operation, it is predicted that the capacity in the second half of 2020 will reach 70000 tons.
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