Guizhou Tire released its 2018 performance report on April 13.
Statistics showed that Guizhou Tire produced 345,600 tons of tires in 2018, year-on-year rising 25.96%, and completed 334,400 tons of tire sales, yearly rising 21.23%.
In 2018, the company realized 6.397 billion yuan of sales revenue, yearly decreasing 8.22%, and net profit belonging to shareholders was 88,173,100 yuan, turning a loss into a profit.
However, the company received a tariff information from Guizhou Customs on April 12 that the company illegally declared amount of importing natural rubber, which formed 22,689,900 yuan of underpaid tax and 43,752,400 yuan of value-added tax needed to pay back.
Guizhou Tire said underpaid tax made 5,151,300 yuan of affection on its sale revenue, and 4,378,600 yuan on its net profit.
