When facing thousands of listed company announcements every day, which ones should you read? What are the key points to take away from the dozens or hundreds of pages of material announcements? Are the many professional terms in the announcements bullish or bearish? Check out Caixin's "Quick Read Announcement" column, where our reporters across the country will provide you with accurate, fast and professional interpretations on the night of the announcement.

On the evening of today, Shandong Linglong Tyre announced that in the first three quarters of this year, the company's revenue reached 15.949 billion yuan, a year-on-year increase of 9.77%; the net profit attributable to shareholders of the listed company was 1.712 billion yuan, a year-on-year increase of 78.39%. In the third quarter alone, revenue reached 5.569 billion yuan, a year-on-year increase of 5.22%; net profit attributable to the mother was 0.786 billion yuan, a year-on-year increase of 97.30%; non-net profit attributable to the mother was 0.469 billion yuan, a year-on-year increase of 19.57%.

Financial Association News on July 29th (Reporter: Xiao Lianghua) In the first three quarters of this year, the tire industry has remained highly prosperous, with Shandong Linglong Tyre (601966.SH) increasing its production capacity utilization rate. Combined with overseas production in Serbia becoming profitable, the company achieved double growth in revenue and net income.

The company stated that the main reason for the increase in net profit in the third quarter was the increase in sales volume and receiving anti-dumping and countervailing duties refunds from the USA.

"This year in the third quarter, the company's semi-steel tire orders have remained strong, domestic supporting businesses have been further optimized, and the Serbia facility has already achieved monthly profits, with production capacity ramping up rapidly." The company's relevant person in charge told Financial Association News reporters that next year, the Serbia facility's production volume will significantly increase, expected to provide greater support to the company's performance.

On the cost side, in the third quarter, there were significant increases in the prices of natural rubber, synthetic rubber, and other raw materials. At the same time, marine freight rates are high. In response to cost pressures, domestic tire companies are raising prices in the fourth quarter, with the hope of improving product gross profit margins.

Shandong Linglong Tyre has raised prices twice, with some product series of all brands of semi-steel tires and all products of all brands of all-steel tires in the domestic retail market seeing price increases of varying degrees.

It is worth noting that due to outstanding performance, shandong linglong tyre and sailun group (601058.SH) have disclosed profit distribution plans for the third quarter. Among them, shandong linglong tyre proposes to distribute a cash dividend of 1.62 yuan per 10 shares (tax included), and sailun group plans to distribute a cash dividend of 0.15 yuan per share (tax included).

Several industry insiders told Caixin that currently, there is a trend in the global tire industry of a decline in market share for first-line brands and an increase in market share for second and third-line brands. China's tires are rapidly increasing their global market share due to their high cost performance advantages, and there is still broad room for improvement in the future.