Cheng Shin Reports 2017 Financial Results, Decreasing from 2016

Cheng Shin Group recently announced its 2017 financial report. In 2017, Cheng Shin accumulated revenue of 3.85 billion U.S. dollars, profit of 880 million U.S. dollars, gross profit margin of 22.86%, net operating profit of 290 million U.S. dollars, profit-making ratio of 7.48%, pre-tax surplus of 290 million U.S. dollars, and net profit of 192 million U.S. dollars in the current period. The surplus was 190 million U.S. dollars, with an annual growth rate of -58.17% and EPS of 1.71 yuan.

Cheng Shin’s products include bicycles, car tires, and are currently ranked ninth in the rubber tire market. Chairman Luo Cairen hopes to enter the global top 5 in 2025. Cheng Shin’s factories in India and Indonesia were put into production last year. In addition to the European, American and Taiwanese bicycle brands, Zhengxin has become the supplier of HERO, the largest bicycle/motorcycle brand company in India.