Due to increase in net profit forecast, we have lifted TP to HK$9.30 and kept investment rating as "Accumulate", representing 6.5x 2021 PER and 5.5x 2022 PER.
Revenue amounted to approximately RMB2,844.0 million, representing a decrease of 1.0% over the same period last year Gross profit amounted to approximately RMB 606.3 million, representing an increase of approximately 9.9% over the same period last year Profit attributable to the shareholders was RMB 265.2 million, representing an increase of approximately 1.6% over the same period last year…
On August 22, Prinx Tire, as the designated tire brand, showed up in the first Ali Automobile Festival Live Carnival. During the activity, Prinx Tire was mounted to Cadillac, Tesla, Mercedes Benz and other well-known brands of cars and showed excellent performance.…
In the 17th World Brand Summit, hosted by World Brand Lab, held in Beijing on August 5, released the analysis report of the China’s 500 most valuable brands of 2020. In this annual report, Chengshan brand from Prinx Chengshan (Shandong) Tire Company LTD. was awarded as one of "the China’s 500 most valuable brands in 2020" with brand value 29.269 billion CNY, ranking 230th.…
On July 29th, the 1st International Quality Festival, jointly sponsored by Syobserve and many famous domestic financial and economic media, was held in Tianjin. Leading enterprises, experts and media from all over the country attended the grand meeting to share views and discuss the development of high quality manufacture. In the festival, Prinx Chengshan won the "2020 Outstanding Enterprise Award”, together with Hisense Hitachi, Fuxing Med…
On July 23rd, the 17th China International Tire and Wheel (Qingdao) Fair (hereinafter referred to as "Qingdao Fair") was held in Qingdao International Convention Center. Prinx Chengshan attended and displayed many best-selling and new products with four brands of Prinx, Chengshan, Austone and Fortune.…
On July 10th, the first industrial joint conference of Zhi’Anda commercial vehicle aftermarket, with the theme of "Industrial Cooperation and Win-Win Value", was held in Rongcheng, Shandong Province. More than 50 large group customers, logistics companies and partners from upstream and downstream of the industrial chain are invited to the conference to promote the development of automobile aftermarket, draw a new chapter of cooperation…
On June 18th to June 19th, Chengshan Tire launched live streaming in Haicheng City and Shenyang City , Liaoning Province respectively. This was the first trial of online roadshow and outdoor training stall for Chengshan Tire, which brought users a unique new experience of "purchasing tire".…
Chon Buri, Thailand - on June 7, the first recreational and sports activity of Prinx Chengshan Tire (Thailand) Co., Ltd. (hereinafter referred to as "Prinx Thailand") was officially launched. Within last days, various competition games were played. This activity will last about two months, and nearly 100 employees from Prinx Thailand will participate in it.…
On May 15, relief supplies mailed by Prinx Chengshan headquarter successfully arrived at Prinx Chengshan Tire (Thailand) Co., Ltd. (hereinafter referred to as "Prinx Thailand"), together with the packages and specialties from the family members of Prinx Thailand employees. This is the second batch of supplies that Prinx Thailand received this month. From the start of the epidemic outbreak, Prinx Chengshan headquarter cooperated with Pri…
