Core Viewpoint - The company reported an increase in overall sales and revenue for the first half of 2025, with significant growth in international dealer channels and direct sales to automotive manufacturers, while domestic dealer channels experienced a decline [1][2] Group 1: Sales and Revenue Performance - The company sold approximately 14.1 million tires in the first half of 2025, representing a year-on-year increase of 2.8% [1] - Revenue for the period reached approximately RMB 5.7052 billion, reflecting a year-on-year growth of 6.4% [1] - The company’s gross profit was approximately RMB 9.475 billion, which is a year-on-year decrease of 28.2% [1] Group 2: Profitability Metrics - The profit attributable to the owners of the company was approximately RMB 5.076 billion, down 37.4% year-on-year [1] - EBITDA for the period was approximately RMB 7.910 billion, showing a year-on-year decline of 33.8% [1] - The EBITDA margin was 13.9%, which is a decrease of 8.4 percentage points compared to the previous year [1] Group 3: Channel Performance - Revenue from domestic dealer channels was approximately RMB 10.173 billion, a year-on-year decrease of 18.3% [2] - Revenue from international dealer channels was approximately RMB 38.958 billion, reflecting a year-on-year increase of 10.9% [2] - Direct sales to automotive manufacturers generated approximately RMB 7.917 billion in revenue, marking a year-on-year increase of 30.5% [2] Group 4: Product Segmentation - Sales of all-steel radial tires accounted for approximately 55.3% of the company's tire revenue, while semi-steel radial tires accounted for about 43.2% [2] - The share of cross-ply tires in total revenue was approximately 1.5% [2] - Revenue from the company's Shandong and Thailand tire production bases accounted for approximately 61.6% and 38.4% of total tire revenue, respectively [2]
浦林成山(01809.HK)上半年纯利降37.4%至5.08亿元 整体销量和收入同比均有增加