Linglong Tire released its 2026 interim report. In the first half, it achieved operating revenue of 12.73 billion yuan, up 7.8% year on year, but net profit attributable to shareholders was only 101 million yuan, down 88.1% year on year, while non-GAAP net profit attributable to shareholders fell sharply by 99.3% to 5.55 million yuan. The company explained that the decline was mainly affected by fluctuations in foreign exchange gains and losses. The appreciation of the renminbi resulted in an exchange loss of about 342 million yuan in the first half, compared with an exchange gain of 691 million yuan in the same period last year, reducing total profit by about 1.033 billion yuan year on year. In addition, overall prices of major tire raw materials rose, with natural rubber prices up 11.6% year on year, butadiene rubber up 10.4%, and carbon black up 3.5%. Linglong Tire also announced the termination of its investment and plant construction project in Tongchuan, Shaanxi, which has been reviewed and approved by the board of directors and the shareholders' meeting. It is still uncertain whether the early-stage expenses such as land purchase payments can be fully recovered. In the secondary market, the company's share price has fallen for four years and eight months in a row, with a cumulative decline of 21.65% this year and a latest market value of 16.6 billion yuan. On the same day, Triangle Tire released its interim report, with operating revenue of 5.085 billion yuan, up 6.4% year on year, and net profit attributable to shareholders of 340 million yuan, down 14.1% year on year, outperforming Linglong Tire.
Shandong Linglong Tyre Co LtdNon-GAAP net profit plunges 99.3% due to FX losses and higher raw material costs; project termination adds uncertainty.
Triangle Tyre Co Ltd