Double Coin revenue sets a new record

On April 22, Shanghai Huayi Group released its 2024 annual report, stating that revenue increased by 9.27% to $6.13 billion, and net profit increased by 5.76% to $125 million.

The tire company Double Coin, a subsidiary of Huayi, played a crucial role in improving financial performance. Last year, Double Coin produced 17.059 million tires, and sales volumes reached 16.24 million tires, a 9.1% increase over the previous year. Revenue increased by 7.43% to $1.5 billion, a new record for the company.

Double Coin owns factories in China and Thailand, and it is reported that the utilization rate of all production facilities was very high, reaching 103.7% at the Chongqing plant and 104.4% in Xinjiang. The company is also expanding its truck tire plant in Jiangsu, and the second phase of production has been launched in Anhui.

Double Coin produces tires for passenger and commercial vehicles, as well as special equipment under the Double Coin and Warrior brands.