Qingdao Doublestar Co Ltd

Qingdao Doublestar released its 2026 half-year report, with first-half net profit attributable to the parent of 143 million yuan, turning from a loss to a profit year on year. The company's operating revenue was 13.83 billion yuan, net profit attributable to the parent after deducting non-recurring items was 102 million yuan, and net operating cash flow was 1.889 billion yuan. In the second quarter, operating revenue was 7.2 billion yuan, up 533.3 percent year on year, and net profit attributable to the parent was 101 million yuan. In the first half of 2026, the company completed a major asset restructuring with Kumho Tire, becoming a specialized tire research, production and sales platform with two brands, Doublestar Tire and Kumho Tire.

Qingdao Doublestar announced that it expects attributable net profit for the first half of 2026 to be between 110 million and 160 million yuan, swinging from a loss of 186 million yuan before adjustments and a loss of 35.41 million yuan after adjustments in the same period last year. The change in performance is mainly due to the company's successful completion of the major asset restructuring with Kumho Tire and the supporting fundraising project, which promoted resource synergy and complementary advantages between Doublestar Tire and Kumho Tire. Despite a significant rise in raw material costs, the company's total profit for the first half still exceeded 1 billion yuan, achieving growth in both total profit and attributable net profit. The company plans to accelerate the synergy between Doublestar Tire and Kumho Tire, optimize factory layout and capacity release, in order to enhance overall profitability.