On May 14, Fengshen Tire Co., Ltd. released a record of investor relations activities.
The company introduced the company's sales situation and development plan.
Fengshen Tire said that since 2023, the tire industry has been relatively prosperous.
The company actively explores the market, develops new products, and continuously optimizes the market structure and product structure.
The company's revenue and profitability are stable and improving.
In terms of overseas markets, we accelerated the transformation of the sales model of truck and bus tires;
Through the promotion of the channel sinking model, the use of short chain and channel diversification to increase sales opportunities.
In 2023, overseas revenue will increase by 4.68% year-on-year, and gross profit margin will increase by 9.64 percentage points.
Fengshen Tire also mentioned that at present, the tire industry as a whole is in an upward cycle.
They plan to increase capital expenditure and enhance the overall competitiveness of enterprises.
Specific measures include investment in engineering radial tires and giant tire projects.
In addition, the company is also actively discussing the feasibility of future overseas construction investment.
According to the data, in the first quarter of 2024, its operating income will be 1.469 billion yuan and its net profit will be 74.4413 million yuan.