Doublestar doubles net profit despite tire sector woes

Qingdao, China – Despite the downturn in the Chinese tire sector, Doublestar has posted surge in earnings and sales for the first half of 2016: net profit was up by 106 percent year-on-year to 54 million yuan (€7.3 million), while revenue jumped 62 percent to €330 million.

Domestic sales, taking up two thirds of the company’s total revenue, gained 82 percent compared with 2015. Overseas sales was up 17 percent.

An industry leader in ‘s’mart’ manufacturing, the company started up its first-phase high-performance radial truck and bus tire project at its new…

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