Net Profit Soars 114.84%! General Shares Defies Trend with 'Frenzied Growth' in Semi-Annual Report

On the evening of August 27, General Shares (601500.SH) disclosed its 2026 semi-annual report: Operating revenue reached 4.448 billion yuan in the first half, up 11.2% year-on-year; Net profit attributable to the parent company was 138 million yuan, surging 114.84% year-on-year; Deducted non-recurring net profit was 137 million yuan, increasing significantly by 176.79% year-on-year.

This performance report is of high quality. In the first half of the year, the global tire industry encountered multiple headwinds: Middle East geopolitical conflicts disturbed shipping, natural rubber prices fluctuated widely, the EU "anti-dumping and anti-subsidy" policy on semi-steel tires for China took effect, and industry profitability was generally under pressure. Under the empowerment of Suhaol Holdings Group, General Shares implemented the "5X Strategic Plan", relying on the three driving forces to suppress cyclical fluctuations.

Overseas Dual Base Capacity Expansion, Building a "Safe Haven" Against Risks

During the reporting period, the May shipment volume of the Thailand base exceeded 1 million units, setting a new historical record; sales of the Cambodia base increased by 20% year-on-year, with capacity utilization remaining high. While consolidating markets in North America, Europe, and Southeast Asia, the company focused on emerging markets such as South America, the Middle East, and Africa, with revenue from overseas non-US markets increasing by 15.2% year-on-year in the first half. In March, the company launched the industry's first special bond for technological innovation worth 450 million yuan, and accelerated the site selection for the third overseas production base.

Breakthroughs in Material Innovation, High-Value Matrix Boosts Gross Margin

After more than ten years of research and development, the company successfully pushed "Plant Gold" Eucommia rubber to mass production, filling a gap in industry industrialization; the "Super Eucommia Tire" series launched in March entered the high-end new energy replacement track, winning multiple honors including the Xizhong Award and Golden Wheel Award. In the commercial vehicle sector, the "Longma Series" ET new energy heavy-load tires were successfully launched; for off-road tires, the "Double-Efficiency Black Gold" technology increased durability by more than 10% and achieved 100% environmental substitution of the anti-aging agent 6PPD. In June, the Thailand base mass-produced the first 28-inch UUHP ultra-high-performance tire, and the Cambodia base produced new low rolling resistance products that meet the US Smartway certification.

AI Cost Reduction and Efficiency, Brand Crossover "Breaking the Circle"

The company co-built an innovation laboratory with Lenovo Group. The all-steel X-ray defect detection project reduced manual quality inspection costs by more than 60%, winning the "2025 China Industrial AI Outstanding Application Award"; AI large models penetrated scheduling, quality inspection, and warehousing across the board, effectively reducing costs and improving yield rates. At the brand level, Qianlima Tires deeply participated in the 2026 "Su-Chao" League, Chitu Horse Tires fought in the Taklamakan Rally, the company appeared at the Canton Fair and the Cologne Tire Show in Germany, and empowered terminal stores with the "Far-Sea Voyage Action".

Industry experts pointed out that China's tire industry is shifting from "capacity for market" to "technology for space", and General Shares has seized the opportunity in the comprehensive game of global capacity, new materials, and intelligent manufacturing. The company stated that in the second half of the year, it will continue to be led by the "5X Strategic Plan", steadily promote the "10-Billion General" strategic goal, and create long-term sustainable value returns.