On April 11, Huayi Group announced its 2018 tire production target. It is reported that this company plans to produce 11.34 million tires this year.
Huayi Group's tire business is operated by Double Coin Tire. In 2017, Double Coin Tire achieved an operating income of 8.036 billion yuan, a year-on-year decrease of 4.94%; operating cost was 7.172 billion yuan, a year-on-year decrease of 2.62%. The company's tire production last year was 9.913 million tires, an increase of 12.09% year-on-year; sales amount were 9.993 million tires, an increase of 10.07% year-on-year.
Huayi Group expects that in 2018, the production capacity of all-steel tire industry will continue to grow at a low rate and increase the intensity of mergers and reorganizations. At the same time, large-scale production plants will be upgraded through transformation and intelligent manufacturing, and their competitive advantages will be highlighted, and their capacity utilization rate is expected to increase.
It is understood that the Double Coin Tire has several production bases in Jiangsu, Chongqing, Xinjiang, Anhui, and other places, and established factories in Thailand. They have established sales companies and representative offices in many countries and regions around the world.
Huayi Group expects that in 2018, the production capacity of all-steel tire industry will continue to grow at a low rate and increase the intensity of mergers and reorganizations. At the same time, large-scale production plants will be upgraded through transformation and intelligent manufacturing, and their competitive advantages will be highlighted, and their capacity utilization rate is expected to increase.
It is understood that the Double Coin Tire has several production bases in Jiangsu, Chongqing, Xinjiang, Anhui, and other places, and established factories in Thailand. They have established sales companies and representative offices in many countries and regions around the world.
(R-11)
