GTC(SZ:000589)2022-11-17 14:46Economic Outlook - The GDP growth for the second quarter was only 0.4%, primarily due to multiple COVID-19 outbreaks affecting the economy [1] - With the pandemic under control and government measures in place, economic recovery is expected in the second half of the year [1] Production Capacity Utilization - The utilization rate for non-highway tires is over 95%, while the average utilization for highway tires is around 80% due to industry downturns and pandemic impacts [1] - The company categorizes its products into highway tires (for buses and trucks) and non-highway tires [1] Export Performance - The company plans to gradually increase tire exports, with the export ratio reaching nearly 30% in the first quarter of this year [2] - The production target for the Vietnam factory is set at 800,000 units, primarily targeting markets in the USA and Europe [2] Raw Material Costs - The price trend for major raw materials in the first half of the year showed a slow decline with minimal fluctuations [2] - Natural rubber prices in Vietnam are advantageous, although most other raw materials need to be imported, leading to a cost advantage over domestic factories [2] Employee Engagement - The implementation of stock incentives has significantly motivated employees, particularly core staff, enhancing their participation in management and innovation activities [2]