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China radialization rate increased earnings surge

China Rubber Industry Association Tire Branch recently announced 46 major tire companies statistics for the first half . January to June , the tire industry profits increased significantly by 23.5% . Among them, the tire production increased by 6.7% , sales revenue fell by 1.6% , export delivery value decreased by 2.1% , inventory is an increase of 6.8 % in the high inventory levels.
According to statistics, 46 tires corporate profits grew by 23.5% , profits up 19.3 %. Insiders said that the first half of this year, rubber prices fell about 25% over last year , coupled with this year China's natural rubber import tariffs lower than the 2012 800 yuan / ton, while the price cut tire at around 10% , thus enhancing the profitability of tire companies .
However , China's tire industry bargaining power is not strong, the trend showed lower tire prices , a larger decline in sales , profits and taxes growth rate than in previous years come down significantly . 46 tire companies total sales revenue of 99.98 billion yuan , of which sales fell 29 enterprises , accounting for 63 % of the total , there are seven top ten companies declined ; growth rate of more than 10% of companies only eight . Total output of 174 million sets of tires , including radial tires 154 million units, meridian 88.7 %, up 1.2 percentage points.