TRIANGLE TYRE(SH:601163) Zheng Quan Zhi Xing·2025-06-18 08:20Company Overview - Triangle Tire Co., Ltd. will hold its 2024 Annual General Meeting on June 27, 2025, at 14:00 in Weihai, Shandong Province [1] - The meeting will include various agenda items such as the 2024 Work Report of the Board of Directors, the 2024 Financial Settlement Report, and the 2024 Profit Distribution Plan [1][2] Financial Performance - For the year 2024, the total assets of the company reached approximately CNY 19.28 billion, a 2.78% increase from 2023 [20] - The total liabilities decreased by 0.85% to approximately CNY 5.84 billion, while total equity increased by 4.43% to approximately CNY 13.44 billion [20] - The company's operating revenue for 2024 was approximately CNY 10.16 billion, a decrease of 2.55% compared to 2023 [20] - The net profit for 2024 was approximately CNY 1.10 billion, reflecting a decline of 21.03% from the previous year [20] Industry Trends - The tire industry is maturing, with global tire production concentrated in developed markets, while Chinese tire manufacturers are rapidly growing through technological innovation and international expansion [9][10] - The domestic tire industry is transitioning towards quality improvement rather than quantity, focusing on green and intelligent manufacturing practices [10][11] - The demand for high-performance and environmentally friendly tires is increasing, driven by consumer preferences and regulatory pressures [11][12] Strategic Initiatives - The company aims to leverage domestic industrial systems and talent advantages to enhance its market position, particularly in the context of the growing new energy vehicle market [13][14] - Triangle Tire plans to focus on digital transformation, green manufacturing, and high-quality development to align with national policies and market trends [14][15] - The company is committed to enhancing its brand value and expanding its market presence through innovative product development and strategic partnerships [14][15]