Business Daily Media

Men's Weekly

.

Prinx Chengshan Announces 2022 Annual Results

Growing against headwinds and achieving growth in both revenue and net profit

Results Highlights:

  • Revenue for the Period was approximately RMB 8,152.0 million, representing an increase of 8.2%
  • During the period, the sales volume of tires amounted to approximately 18.5 million units, which was basically flat year-on-year
  • Gross profit was approximately RMB 1,169.8 million, representing a year-on-year increase of 12.6%
  • Profit attributable to shareholders of the Company was approximately RMB 393.8 million, representing a year-on-year increase of 42.5%
  • Basic earnings per share amounted to RMB 0.62, representing a year-on-year increase of 44.2%
  • Proposed final dividend of HKD0.20 per share

HONG KONG SAR - Media OutReach - 3 April 2023 - Prinx Chengshan Holdings Limited (hereinafter referred to as the "Company" or "Prinx Chengshan", together with its subsidiaries, the "Group"; stock code: 1809.HK) announces its results for the 12 months ended 31 December 2022 (the "Reporting Period").


Looking back at 2022, Prinx Chengshan focused on strategy and seized opportunities. With the unremitting efforts of all employees, through flexible strategies and tenacious resilience, relying on the production capacity layout at home and abroad and diversified marketing channels, and under the challenges of fierce competition in the domestic and foreign tire market, it achieved growth in both operating income and net profit. The Company achieved outstanding performance in the international replacement market, and the operating income from the international distributor channel increased by 31.9% year-on-year.

Since its listing in 2018, Prinx Chengshan has firmly implemented the strategy of international development. During the Reporting Period, the first and second phases of the Tire Production Base in Thailand have entered the stage of high-quality and efficient operation, and the production expansion project of the Tire Production Base in Shandong has reached full capacity in 2022. The construction of smart factories and the production capacity layout at home and abroad have laid a solid foundation for future development.

During the Reporting Period, Prinx Chengshan actively explored the market and optimised the channel layout. Based on deep insight into consumers, Prinx Chengshan has formulated the brand strategy of "Multi-brand, Differentiated Development with Integration of Internationalization and Localization". Its four major brands: Chengshan (Chengshan), Prinx (Prinx), Austone and Fortune completed system revamp. By reshaping the brand experience and value proposition in an all-round way and using a younger language, we will reiterate our commitment to users and partners in the era of sustainable travel. Prinx Chengshan is committed to helping every user explore a better life with the wisdom and perceivable technology of new manufacturing.

In line with the brand renewal, Prinx Chengshan has successively launched new products, such as passenger car tires "Hua Ren", "Hua Yue", new electric vehicle product"XLAB COMFORT EV" and"XNEX SPORT EV" . The "XNEX SPORT EV" tires won three international design awards with both physical appearance and strength. The product of Prinx electric vehicles was launched in the self-operated flagship store on JD.com and was well received by users.

Prinx Chengshan drives development with technological innovation and improves efficiency with lean production. Through the establishment of a fundamental research system with independent intellectual property rights, the design automation and performance prediction intelligence have been realised, providing effective technical support for product development. In 2022, the Group was granted 78 new patents, including 1 invention patent and 48 utility model patents, and was granted 330 intellectual property rights.

With the principle of sustainable development as the foundation of its development strategy and daily operation, Prinx Chengshan adheres to the concept of people-oriented, research and development of innovative products and green and sustainable development, and has been awarded the title of "Energy Efficiency Leader" for seven consecutive years, further enhancing the core competitiveness of the industry.

Looking forward to 2023, with the global economic downturn and inflation, market demand will remain weak, while the war in Russia will continue to affect the global supply chain system. Since the lifting of domestic epidemic prevention and control policies in December 2022, it is expected that the Chinese economy will rebound rapidly in 2023, showing a trend of recovery. The suppressive factors of the tire market have been improved, and the domestic King Wan is expected to resume growth under the epidemic recovery, and the All Steel Radial Tire market is expected to recover; Overseas orders for Semi-Steel Radial Tires have gradually recovered since the fourth quarter of 2022, and the domestic replacement market is expected to pick up with the increase in residents' outbound activities.

Hashtag: #PrinxChengshan

The issuer is solely responsible for the content of this announcement.

About Prinx Chengshan Holdings Limited

Prinx Chengshan Holdings Limited (stock code: 1809.HK) is a modern enterprise focusing on tire design, research and development, manufacturing and sales. It is one of the most influential tire enterprises in China and has two tire production bases in Rongcheng, Shandong and Chunwu, Thailand. Currently, the Company has four brands, namely Prinx (Prinx), Chengshan (Chengwan), Austone and Fortune (Fortune), and three product categories, namely All Steel Radial Tires, Semi-Steel Radial Tires and Bias Tires, covering passenger, commercial, industrial, agricultural and some special vehicle tires. The Company always adheres to the guidance of innovation, creates green and safe tire products and provides high-quality and convenient services, and continues to contribute to global users with a beautiful intelligent travel experience and sustainable lifestyle.

News from Asia

Lee Kuan Yew School of Public Policy Releases Strategic Roadmap for ASEAN's 5G-AI Transformation

New Research Reveals US$130 Billion Economic Opportunity and Outlines Policy Framework to Accelerate Regional Digital Leadership by 2030SINGAPORE - Media OutReach Newswire - 22 July 2025 - The Le...

DFI Retail Group Holdings Limited Half-Year Results For The Six Months Ended 30 June 2025 And Announcement Of Special Dividend

Highlights 39% underlying earnings growth Increased contributions from associates, Health & Beauty and Food Health & Beauty delivered strong like-for-like (LFL...

HeyMax Acquires Hong Kong’s krip to Accelerate Regional Expansion into Loyalty and Rewards Market

HeyMax’s first acquisition fast-tracks its regional expansion, bringing over 6,000 credit card deals offered by over 3,000 merchants, and personalized loyalty experiences to consumers in Hong Kong ...

CUHK Faculty of Engineering: Advancing Innovation Through Research Excellence and Global Collaboration

HONG KONG SAR - Media OutReach Newswire - 23 July 2025 - The Faculty of Engineering at The Chinese University of Hong Kong (CUHK) continues to strengthen its position in global engineering educat...

Adecco Singapore Marks 40 Years of Enabling Talent and Business Growth

SINGAPORE - Media OutReach Newswire - 23 July 2025 - Adecco Singapore has officially commemorated its 40th anniversary with a stakeholder event held at the National Gallery Singapore. The occasion...

Samsung’s Solve for Tomorrow 2025 Youth Innovation Competition is Now On

SINGAPORE - Media OutReach Newswire - 23 July 2025 - Samsung Solve for Tomorrow 2025, the highly-anticipated youth innovation competition, is back for its ninth edition in Singapore! As the natio...

Jollibee Group Evolves its Corporate Brand to Help Power Global Growth

Brand update brings to life its global purpose and positioning as a unified group of brandsMANILA, PHILIPPINES - Media OutReach Newswire - 23 July 2025 - The Jollibee Group, one of the world's fas...

AECOM to enhance mobility across the Greater Bay Area by delivering the Hong Kong Section of Hong Kong–Shenzhen Western Rail Link (Hung Shui Kiu-Qianhai)

HONG KONG SAR - Media OutReach Newswire - 23 July 2025 - AECOM, the trusted global infrastructure leader, today announced that its joint venture with AtkinsRéalis has been awarded the consultancy ...

OCBC Hong Kong Unveils New Brand Campaign

Connected to “As One Group, OCBC Enables Aspiration All Across ASEAN and Greater China” Demonstrating the Unwavering Commitment in Realising Customer’s Aspirations HONG KONG SAR - Media...

X.me Foundation Empowers Global Expansion of the X.me Social Media Platform

SINGAPORE - Media OutReach Newswire - 23 July 2025 - X.me (https://x.me) is a social media platform where users can freely express themselves, share content, engage, and interact while earnin...

Baby boomers are driving development feasibility leading to larger apartments

As residential developers continue to grapple with feasibility issues on apartment projects, the sector is struggling to deliver volumes of new st...

Hays launches FY25/26 Salary Guide: ‘Salary Paradox’ deepens as pay rises fail Australians

Rising dissatisfaction with pay, progression and perks is fuelling a new wave of career change in FY25/26, as Australians demand more from employe...

Australian Businesses Still Stuck in the AI Hype Cycle

Data Governance Failures, ROI Gaps and Unclear Strategy Slowing Progress Despite artificial intelligence (AI) dominating headlines and boardroom ag...

How to ensure your manufacturing business survives international tariff turmoil

Optimising your operations in FY2026 will help you combat the challenges of a volatile trading environment. Up, down, in out…Since the commence...

Why Apptio is Enhancing Visibility into AI and Hybrid Cloud

AI investments have become a strategic priority for business with the mindset that if you're not using AI, you're falling behind. But according to...

Beyond borders: Building a scalable strategy for international hiring

For many Australian businesses, growth increasingly depends on thinking beyond local borders.  As wage pressures rise, and specialised talent pool...

Sell by LayBy