On August 31, Qingdao Double Star Co., Ltd. disclosed that it will establish a joint venture company in Algeria to build 2 million sets of annual steel tires and 5 million sets of semi-steel tire factory.
It is understood that the joint venture company was jointly established by Qingdao Double Star Subsidiary Hong Kong Double Star International Co., Ltd. and "SARL EL HADJ LARBI PNEUMATIQUES", of which Hong Kong Double Star invested 5 million dollars, and the joint venture invested 245 million dollars. Under the joint venture agreement, the two parties will also set up a trading company in Dubai, UAE to sell joint venture factory products in designated regions.
Qingdao Double Star semi-annual report data shows that the total operating income was 2.159 billion yuan, an increase of 9.28% (year-on-year, the same below), of which, foreign sales of 861 million yuan, an increase of 29.30%. Foreign exports account for about 40% of the total, of which the US market exports account for about 1%, the proportion is small.
Qingdao Double Star semi-annual report data shows that the total operating income was 2.159 billion yuan, an increase of 9.28% (year-on-year, the same below), of which, foreign sales of 861 million yuan, an increase of 29.30%. Foreign exports account for about 40% of the total, of which the US market exports account for about 1%, the proportion is small.
（R-12）
