With sales revenues of 1.59 billion US dollars, Aeolus has made its debut among the top 20 tire enterprises on the ranking list of the world’s top 75 tire Enterprises of 2012, released by Rubber and Plastic News of the US recently. With sales income of 470 million US dollars, Double Happiness Tires ranked 47th. With annual sales revenues of 221 million US dollars, Huanghai Shares ranked among the top 64 tire enterprises globally.
The ranking was released by US-based Crain Communications Inc., which calculated sales revenues of companies from the previous year.
2011 witnessed increasing prices of natural rubber and tougher competition under worse economic conditions, The company, according to its annual work arrangement of China National Tire & Rubber Corporation, deepened management reforms, expanded, carried out technical innovations, performed project construction, accelerated structural adjustments, explored profit-making modes, realized sustainable developments and enhanced its industrial position. Its sales revenues exceeded 10 billion yuan ($ 1.58 billion) for the first time reaching 10.2 billion yuan, up 26% year on year. The growth rate was higher than its average growth rate 22% for the world’s top 75 tire enterprises. Its profits surged 270 million yuan, up 5% year on year and ranking first among seven domestic listed tire enterprises. 2012 has been accompanied by a slowdown of global economic growth and weak domestic market demand. Aeolus has persisted in following its “2215” strategy of China National Chemical Corporation, which follows “three satisfactions” annual work theme, adjusts structure and transforms methods, promotes world-level manufacturing and strives for developments. Its foreign exchange earned through exports has nearly reached 300 million US dollars from January to June of this year, up 5% year on year. Its profits had exceeded 200 million yuan, up 24% on a yearly basis. Foreign exchange earned through exports and profits has reached new record highs.
Data in the ranking list shows that Aeolus's global ranking had risen three places compared with the previous year. It is known that 30 Chinese enterprises entered the ranking list of the world’s top 75 tire enterprises of 2012, increasing by five compared with the 27 enterprises of the previous year. There are five Chinese enterprises among the top 20 tire enterprises. Aeolus is the only state-owned company among the five enterprises.