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Jiangsu General Science Technology: Overseas production capacity is gradually being released, and future tire demand is expected to continue to improve | Directly hitting the earnings conference
① Chairman Gu Cui of Jiangsu General Science Technology stated that the company's tire projects in Thailand Phase II and Cambodia Phase II have been successively put into production, with capacity gradually being released, expected to become new performance growth points; ② The company believes that the rapid rise in the global total number of cars and new energy vehicles is driving strong growth in tire demand, while domestically produced tire brands with high cost performance advantages are highlighted under consumer downgrading, continuously increasing their market share overseas.
Jiangsu General Science Technology's (SHSE:601500) 809% YoY Earnings Expansion Surpassed the Shareholder Returns Over the Past Year
Jiangsu General Science Technology (601500.SH): Cumulatively spent 15.609 million yuan to repurchase 2.62 million shares.
On September 2nd, Jiangsu General Science Technology (601500.SH) announced that as of August 31, 2024, the company has repurchased a total of 2,624,500 shares, accounting for 0.17% of the total share capital. The highest purchase price was 6.08 yuan per share, and the lowest purchase price was 4.36 yuan per share. The total amount paid was 15,609,024 yuan (excluding transaction commissions and other transaction costs).
Tire semi-annual report inventory: strong demand, outstanding performance, continue to expand overseas market.
① Among the 9 listed companies in the tire industry, 8 companies have achieved growth in net income in the first half of this year due to strong market demand; ② Top companies in the industry, such as Sailun Group, Linglong Tyre, and Jiangsu General Science Technology, will continue to expand overseas production capacity in 2024 to meet the high overseas demand.
West Securities: The recovery of downstream auto industry sales drives tire demand. Semi-steel tire capacity utilization is high.
The sales of the downstream automobile industry rebounded, driving the demand for tires; the prices of upstream raw materials are fluctuating and rising, and marine transportation costs are high, putting pressure on the cost side of tire companies; the operating rate of semi-steel tires is high, while the operating rate of all-steel tires has declined.
Jiangsu General Technology Co., Ltd. 2024 Semi-Annual Report
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