Updated: Linglong ups annual sales; mulls new overseas sites

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…

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