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.
Kumho TireKumho Tire's restructuring with Doublestar is cited as a key driver of Doublestar's profit turnaround, implying positive synergy.
Qingdao Doublestar Co LtdExpects first-half net profit of 110-160 million yuan, swinging from a loss, due to asset restructuring with Kumho Tire.