Linglong Profits Fall More Than 65% as Commercial Tire Demand Drops

Chinese tire major Shandong Linglong Tire Co. expects to report a sharp drop in 2022 profits, due in part to low demand for commercial and replacement tires.

In a Shanghai Stock Exchange filing 31 Jan, the tire maker said it expected ‘net profit attributable to shareholders of listed companies’ to come in between Yuan240 million and Yuan280 million (€32 million – €38 million) , down 65% to 70% from the year before.

Linglong said …

Source: ERJ