Prinx Chengshan Forecasts Major Profit Surge

Prinx Chengshan Holdings Limited (HK:1809) has released an update.

Prinx Chengshan Holdings Limited has issued a positive profit alert, forecasting a substantial increase in profit for the first half of 2024, with a range of RMB752 million to RMB850 million, marking an approximate 130% to 160% jump from the previous year. This growth is attributed to a surge in production and sales within the domestic auto industry, increased demand in the overseas tire market, and a refund of anti-dumping duties. Additionally, the company has seen a notable improvement in gross profit margins due to technological innovation, product optimization, and a significant rise in tire sales volume.

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