对于公司毛利率提升的具体原因，公司董秘卞亚波向投资者表示，海外轮胎市场需求旺盛，国产轮胎凭借性价比、竞争力优势，维持着较高景气度。公司依托泰国、柬埔寨“海外双基地”布局优势，持续推动全球营销网络布局和新业务的开拓，新项目进展顺利，同时积极应对原材料成本及海运费上涨、汇率波动等外部挑战，盈利水平得以提升。Jiangsu General Science Technology Chairman Gu Cui expressed that the company's tire projects in Thailand Phase II and Cambodia Phase II have successively commenced production, and the production capacity is gradually being released, expected to become a new business growth point; The company believes that the rapid growth of the global total number of autos and the rise of new energy autos are driving strong growth in tire demand. At the same time, under consumer downgrading, domestic tire brands with high cost performance advantages are highlighted, and the overseas market share continues to increase.
On October 8, Caixin Financial News (Reporter: Xiao Lianghua) The overseas market demand is strong, Jiangsu General Science Technology (601500.SH) overseas production capacity is continuously being released. At the 2024 semi-annual performance briefing held this afternoon, Chairman Gu Cui stated that the company's overseas twin bases maintain strong production and sales, with the tire projects in Thailand Phase II and Cambodia Phase II successively commencing production, and the production capacity is gradually being released, expected to become a new business growth point next year.
In the first half of this year, Jiangsu General Science Technology achieved outstanding results, with a nearly fourfold year-on-year increase in net profit; at the same time, benefiting from a 5.07 percentage point year-on-year increase in gross margin rate, the company's net profit growth in the first half far exceeded the growth in revenue.
Regarding the specific reasons for the company's gross margin improvement, the company's Secretary to the Board Bian Yabo told investors that the overseas tire market demand is strong. With the advantages of cost performance and competitiveness, domestic tire brands maintain a high level of prosperity. The company relies on the layout advantages of the overseas twin bases in Thailand and Cambodia, continuously promotes the global marketing network layout and the development of new businesses, makes smooth progress in new projects, actively addresses external challenges such as rising raw material costs, shipping costs, exchange rate fluctuations, and improves profitability.
The progress of production capacity release in Thailand and Cambodia bases Phase II is a focus of concern for participating investors.
Regarding this, Bian Yabo revealed that the company's overseas base's semi-steel tire orders are in short supply. Thailand Phase II commenced production on June 28, with full production expected in 2025. Currently, the daily production capacity of the first and second phases of the Thailand semi-steel factory has exceeded 0.027 million units. The company will continue to accelerate the release of production capacity to meet market demand.
As for the Cambodia base, Bian Yabo stated that the second phase of the Cambodia base achieved its first tire off the line on August 28, 2024, and is expected to achieve full production in 2025. Currently, the Cambodia factory is also maintaining strong production and sales, with full orders for full-steel and semi-steel tires, well exceeding the existing production capacity. The company is accelerating the Phase II project to meet the strong demand of customers.
Regarding the sustainability of tire demand growth of concern to investors, Gu Cui stated that the rapid growth of the global total number of autos and new energy autos is driving strong growth in tire demand. At the same time, under consumer downgrading, domestic tire brands with high cost performance advantages are highlighted, and the overseas market share continues to increase, showing an upward penetration trend. With the steady growth in auto production and sales, future tire demand is expected to continue to improve.
