On April 25, two listed tire companies released their reports for the first quarter of 2023 and 2024.
Tire World Network learned that the profit growth of these two companies in 2023 will exceed 300%.
At the same time, its gross profit margin is also at a high level, around 20%.
Linglong's revenue exceeded 20 billion yuan
According to the data, in 2023, Linglong Tire's operating income will be 20.165 billion yuan, a year-on-year increase of 18.58%, setting a new record;
net profit attributable to shareholders of listed companies was 1.391 billion yuan, a year-on-year increase of 376.88%.
Its gross profit margin reached 20.73%, an increase of 7.55 percentage points over the previous year.
Last year, Linglong Tire produced 79.117 million tires, a year-on-year increase of 20.4%;
sales were 77,981,500, a year-on-year increase of 26.09%.
In the first quarter of this year, its operating income was 5.045 billion yuan, a year-on-year increase of 15.04%;
The net profit attributable to the parent company was 441 million yuan, a year-on-year increase of 106.32%.
Fengshen's profits soared by 313%
In 2023, Fengshen Tire will achieve operating income of 5.739 billion yuan, a year-on-year increase of 15.05%;
The net profit attributable to the parent company was 349 million yuan, a year-on-year increase of 312.74%.
The gross profit margin of products was 19.49%, an increase of 5.25 percentage points.
Last year, Fengshen Tire produced 4677328 tires, an increase of 17.36% year-on-year;
sales 4744024, an increase of 19.08% year-on-year.
In the first quarter of this year, its operating income was about 1.469 billion yuan, an increase of 15.57% year-on-year;
The net profit attributable to the parent company was about 74.4413 million yuan, an increase of 45.96% year-on-year.