shandong linglong tyre: gross profit improvement with product structure adjustment, North America revenue accounts for approximately 18% | Focus on earnings conference
① Product structure improvement, combined with the profitability achieved by the second overseas base, shandong linglong tyre achieved growth in revenue and gross profit in the first three quarters of this year; ② Chairman and CEO Wang Feng said that in the first three quarters of 2024, North America's revenue accounted for about 18% of the total revenue, and the company will actively explore overseas markets in the future and accelerate the selection of sites for the third overseas base.
Strong demand, increased production capacity utilization, shandong linglong tyre's net profit in the first three quarters increased by nearly 80% year-on-year | Interpretations
①The product sales volume increased, overlaid with receiving anti-dumping tax refund from the usa, shandong linglong tyre's net profit in the first three quarters increased by 78.39% year-on-year; ②The company's relevant person in charge stated that this year, the company's semi-steel tyre orders continue to be full, domestic supporting business further optimized, the Serbia base has achieved monthly profit, and the production capacity is rapidly increasing.
Overseas new production capacity entering the release period. Jiangsu General Science Technology's Q3 revenue increased by more than 30% year-on-year | Financial interpretations
①Overseas new production capacity are gradually put into operation, semi-steel tire orders are full, jiangsu general science technology's revenue scale continues to expand; ②Company officials stated that in Q3 of this year, the company faced issues such as rising raw materials, marine transportation costs, and high cost amortization. As we enter the fourth quarter, the cost pressure has eased.
Share buyback and shareholding loans are quickly implemented! Industrial and Commercial Bank of China, Bank of China, China Construction Bank, China Merchants Bank, Citic Bank, and other banks have announced progress. Some banks have cooperation intention
①As of now, Bank of China has reached cooperation intentions with nearly a hundred listed companies, explicitly committing loans to 32 listed companies, covering industries such as integrated circuits, transportation, high-end manufacturing, and business services; ②The bank stated that it will strictly adhere to the risk compliance bottom line, rigorously prevent crediting funds that do not meet the conditions of the stock increase stake & buy back and reloan policy from illegally flowing into the stock market.
It is expected that relevant national authorities will establish a low-altitude economic regulatory bureau.
①The establishment decision has been approved, and the new bureau is currently in preparation; ② The low-altitude economy set up a dedicated bureau, which can better coordinate resources at all levels to promote industrial development.
Overseas market demand continues to be strong, sailun group expects a year-on-year increase of about 60% in performance for the first three quarters|interpretations
①The overseas market demand remains strong, sailun group expects the company's performance in the first three quarters to increase by about 60%; ②Natural rubbers, carbon black, synthetic rubbers, and other production raw materials have all seen price increases. To cope with cost pressure, many tire companies have announced price increases for their products.