Double Coin Group Half-Year Report: Net Profit 101 Million Yuan, YoY Growth 77.19%

Recently, Huayi Group, the parent company of Double Coin Group, released its 2026 half-year report, highlighting the operational resilience of its subsidiary Double Coin Tire Group Co., Ltd. In the first half of the year, Double Coin Group achieved operating revenue of 5.327 billion yuan and operating profit of 127 million yuan, with YoY growth of 78.87%; net profit was 101 million yuan, representing a 77.19% increase year-on-year.

Cost reduction and efficiency gains proven, profitability significantly improved

In an environment of high cost pressure across the industry, Double Coin Group's tire business operating costs decreased by over 5% compared to the same period last year, with the overall gross margin rising from 9.00% to 10.98%. Product pricing power strengthened correspondingly, with the average tire price increasing by nearly 3% to approximately 630 yuan per piece, effectively mitigating the impact of high raw material costs in the second quarter.

Segment-wise, all-steel tires remain the core profit driver, with H1 revenue of 4.883 billion yuan, representing 88% of total tire business revenue, and a profit margin of 11.65%, up 24.51% year-on-year—compared to MICHELIN and Bridgestone truck tire operating margins of 5.9% and 9.7% in the same period, Double Coin's all-steel tire profitability is gradually closing the gap with global giants. Semi-steel tire business revenue was 649 million yuan, and with Phase II of the Anhui Warrior base completed and operational, future growth prospects look promising.

Production and sales both thriving, capacity construction progressing orderly

In the first half of the year, Double Coin tire production and sales reached 8.38 million and 8.63 million units respectively, with a sales-to-production ratio exceeding 100%, reflecting a healthy market dynamic of strong demand.

Regarding capacity layout, the Jiangsu base expansion project for 1.8 million high-performance all-steel tires annually has achieved 67% capacity release; Phase II of the Anhui base project, with a total investment of 3.183 billion yuan for 15 million high-performance semi-steel tires annually, has been completed and operational, with capacity steadily ramping up. These projects enable the company to implement a local production and sales model, staying closer to market demands and enhancing service efficiency and response speed.

Dual-drive of brand and channels

The Double Coin brand holds dual certifications of "China Time-Honored Brand" and "Shanghai Time-Honored Brand." During the reporting period, high-speed rail branded trains featuring Double Coin, Warrior, and Feiyue, three major domestic brands, officially departed, further enhancing brand exposure. In the OEM market, the company provides original equipment for numerous commercial vehicle and construction machinery manufacturers; in the replacement market, it deeply covers terminals through diverse channels combining regional agencies and smart retail platforms.

Leveraging Huayi Group's strategic layout of "One Huayi, Nationwide Business, Overseas Development," Double Coin Group has formed a multi-base pattern of "Shanghai HQ + Jiangsu, Anhui, Chongqing, Xinjiang, Thailand," possessing integrated R&D, production, and sales capabilities along with overseas marketing capabilities. Industry analysis suggests that with continued capacity release and deep promotion of digital transformation, Double Coin Group is expected to further consolidate its competitive advantages and continuously improve the global competitiveness and market share of Chinese tire brands.