Sailun’s revenue in the first three quarters was close to 20 billion yuan
Sailun’s revenue and operating profit in the first three quarters were both better than the same period last year (Photo: Sailun)
On 18 October, Chinese tyre manufacturer Sailun announced its primary financial data for the first three quarters 2023. Data disclosed by the tyre company showed that revenue in the first nine months was close to 20 billion yuan, reaching 19.01 billion yuan (approximately £2.13 billion; €2.45 billion), a year-on-year increase of 13.72 per cent.
Sailun’s profits increased significantly from January to September compared to last year. According to Sailun’s disclosure, its operating profit in the first three quarters was 2.31 billion yuan (approximately £260 million; €300 million), a year-on-year increase of 81.63 per cent.
Sailun said there are three reasons for the significant year-on-year increase in tyre sales and net profit: “(China’s) domestic economic activities have significantly recovered”, “the negative impact of tyre destocking in foreign (markets) has also been gradually eliminated”, and “the company continues to improve product quality and optimise product structure”.
Sailun stated that the relevant data are preliminary accounting data and have not been audited by an accounting firm.
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