On March 28, Xingda International Holdings Limited released its annual report of 2018, which realized annual operating income of RMB 7.558 Billion Yuan with an increase of 9.7% compared with that of RMB 6.887 Billion Yuan in the previous year, and the net profit was RMB 372 Million Yuan, basically similar to that in the previous year, with the gross profit of 17.49%.

In 2018, the total sales volume of radial tire steel cords of the company was 666,600 tons, which increased by 2.0%; and the sales volume of bead wires and other wire products increased by 11.9% to 134,100 tons. The Jiangsu subsidiary had an annual production capacity of 625,000 tons of steel cords, and the Shandong subsidiary had an annual production capacity of 103,000 tons. In 2018, the capacity utilization rate of both production bases was 91%.

In the segmented field, the sales volume of radial tire steel cords for trucks increased by 5.7% to 440,100 tons, while the sales volume of radial tire steel cords for passenger cars decreased by 4.4% to 226,500 tons. The reason for this phenomenon is that the demand for passenger car tires in the domestic market has declined.

It is understood that this company can provide customers with a wide range of products, including 331 kinds of radial tire cord wires, 112 kinds of bead wires and other steel wires. At the same time, because of the strong demand in the southeast Asian market and Indian market, it has decided to build a production base in Thailand, and the first-phase project of the new plant in Thailand is designed to have the production capacity of 50,000 tons of radial tire steel cords. 

(Si Xianchao)