Yantai, China – Linglong posted €1.4 billion (10.5 billion yuan) revenue in 2016, up 20% from 2015 according to its annual report. Net profit rose by 49% to €135 million.
It’s worth noting that the company’s 2015 revenue showed a 15% decrease year-on-year, against a backdrop of China’s slowed economy and market headwinds.
Moving up to higher-end original equipment supply has helped the company’s performance, according to the report. Last August it became a global supplier of Volkswagen, the first one among Chinese tire makers.
With overseas markets…