é»” Tire A's interim net profit fell by 30%

Tire A (000589) issued a midnight report Monday evening. From January to June 2010, the company achieved a net profit of RMB 75.9276 million, a decrease of 32.36% year-on-year.

In the first half of the year, the company's operating income was 2.805 billion yuan, an increase of 35.63% year-on-year; earnings per share were 0.30 yuan, a year-on-year decrease of 31.82%.

As the prices of major raw materials such as natural rubber rose sharply to historically higher levels during the reporting period, the cost of main operations increased significantly, and the gross profit margin of the tire business decreased compared to the same period of last year. As a result, the company's net profit fell sharply year-on-year.

é»” Tire A closed at 12.25 yuan on Monday, up 0.66%.