Tire Manufacturers Are Making Big Profits And Accelerating The Layout Of Overseas Bases
On April 24th, Qingdao Senqilin Tire Co., Ltd. released its first quarter report for 2023. The company achieved double growth in revenue and profit in the first quarter.
Data shows that from January to March, Senqilin's operating revenue was 1.658 billion yuan, a year-on-year increase of 14.53%; This data is an increase of 211 million yuan from 1.447 billion yuan in the same period last year.
The net profit attributable to shareholders of the listed company was 250 million yuan, a year-on-year increase of 7.33%; In the same period of 2022, it was 233 million yuan.
Last year, the company's performance also achieved significant growth. The actual operating revenue was 6.292 billion yuan, and the net profit reached 801 million yuan.
It is understood that Sen Qilin is accelerating its global strategic layout.
The company is located in Spain and Morocco to build overseas tire bases. The total investment of the two major bases exceeds 5.7 billion yuan.
Among them, the Spanish factory is intensifying construction, and the Moroccan base is expected to start construction in July this year.
After completion, Senqilin will become a Chinese tire enterprise with bases in Thailand, Spain, and Morocco.
