On the evening of April 17, Aeolus Tyre Co., Ltd. announced its 2024 annual report. In 2024, the company achieved total operating revenue of 6.708 billion yuan, a year-on-year increase of 16.89%; net profit attributable to shareholders of the parent company was 281 million yuan, a year-on-year decrease of 19.47%; non-net profit was 236 million yuan, a year-on-year decrease of 28.55%.
Aeolus stated that in 2024, facing unfavorable factors such as rising raw material prices in the domestic tire industry, insufficient market demand, and overseas anti-dumping, the company was market-oriented, focused on market segments, persisted in scientific and technological research, implemented innovation-driven development, and worked hard to complete various operating goals for the year and achieve competitive growth.
During the reporting period, the company actively sought customer needs and expanded market channels. In the domestic market, the company actively launched new products, which strongly supported the sales growth of the domestic replacement market. In 2024, the replacement market achieved annual revenue of 2.486 billion yuan, an increase of 54.69% year-on-year.
In overseas markets, the company accelerated the transformation of its channel model, promoted channel expansion, increased investment in overseas market resources, enhanced its brand image, and increased sales opportunities. The overseas business achieved full-year revenue of 3.167 billion yuan, a year-on-year increase of 17.85%.
The company's R&D expenses in 2024 were 291 million yuan, an increase of 11.22% year-on-year. The total R&D investment accounted for 4.33% of operating income. In terms of radial engineering tires, the company adhered to the global leading strategy of giant tires and insisted on working together in structure, formula and market. In terms of bias engineering tires, the company transformed into special tires through technological upgrades, focusing on the development of new products such as hydropower mining, agricultural radial tires, and industrial vehicle tires. In terms of truck and bus tires, the company supported its products in occupying high-end market segments through technological breakthroughs, promoted the technological development of high-value-added digital tire products, assisted in market optimization and product structure adjustment, and enhanced the profit margins and brand image of the company's products.
Looking into the future, Aeolus will take the creation of sustainable development competitiveness and high brand value competitive advantage as its development strategy, continuously develop and improve its industrial tire product line, rely on key projects to promote the implementation of new quality productivity, achieve new breakthroughs in sales revenue, and become a global leader in industrial tire quality and a professional company with world-class influence.
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