Triangle reduced sales

In the first half of 2024, the Chinese company Triangle received revenue of 5 billion yuan (700 million dollars), which is approximately 200 million yuan less than the previous year. Over six months, 12.032 million tires were produced and 12.228 million units of products were sold.

Triangle reports that although sales decreased, production volumes increased by 3.1%, and capacity utilization was around 90%. At the same time, inventory levels remained low.

It is also reported that excluding one-time income and expenses, Triangle's net profit decreased by 3.23% compared to the first half of 2023, and free cash flow decreased by 49.93%, which was due to increased costs and low sales margins.