Sailun Rakes in 2.16 Billion in Half Year

On the evening of August 30, Sailun Group disclosed its 2026 Semi-Annual Report. In the first half of the year, the group realized operating revenue of 20.027 billion yuan, a year-on-year increase of 13.88%; net profit attributable to the parent company reached 2.16 billion yuan, a year-on-year increase of 17.97%. Among them, net profit in the second quarter was 1.103 billion yuan, a significant year-on-year increase of 39.26%. The group simultaneously released a semi-annual dividend plan, proposing a cash dividend of 0.15 yuan per share (tax inclusive), with estimated cash dividends of 493 million yuan, implementing interim dividends for three consecutive years.

The weight of this performance report needs to be weighed against the industry background: in the first half of the year, raw material prices such as natural rubber and carbon black rose across the board, domestic tire export volumes increased while prices fell, the characteristic of 'revenue growth without profit growth' was obvious, compounded by trade barriers and rising shipping costs, putting pressure on the overall industry. In this environment, why did Sailun make such a big profit? At least four dimensions are working simultaneously.

First, global capacity hedging. Sailun's overseas layout capacity scale ranks first among Chinese tire enterprises: factories in Vietnam and Cambodia are stable and highly productive, covering core markets in Europe and the US; Indonesia and Mexico are continuously ramping up; the Egypt project targets Europe and Africa markets. Overseas base planning combines 12.75 million full steel tires, 89 million half steel tires, and 130,000 tons of off-the-road tires annual production capacity. In the fiscal year 2025 and the first half of 2026, Sailun's radial tire delivery volume and overseas factory production and sales volume both ranked first in the industry.

Second, product structure upgrading. In the first half of the year, tire production and sales volume both exceeded 45 million tires, up about 15% year-on-year, reaching a historical high for the same period. The increase in the proportion of high value-added products directly reflected in profits, sales gross margin was 26.99%, up 2.46 percentage points year-on-year. Liquid Gold Tires reached the highest level of EU label regulations; Off-the-road tires linked with mining giants like BHP and Rio Tinto, revenue ranked top among domestic engineering tire enterprises; Matching markets cover BYD, Geely, NIO, as well as VinFast, Proton and other domestic and foreign auto companies.

Third, brand premium. Sailun ranks 10th among the world's most valuable tire brands according to Brand Finance, the highest ranked Chinese brand; with a brand value of 125.189 billion yuan, it joins the top 100 of 'China's Top 500 Most Valuable Brands'.

Fourth, digital channel restructuring. Domestically connecting dealer B2B and store systems, overseas launching B2B portals and logistics visualization systems, self-developed S&OP platform achieving dynamic balance of supply and demand, awarded as the industry first batch of enterprises with digital transformation maturity Level 5.

Industry analysis believes that when trade barriers block low-end OEM, raw materials compress profits, only those with global capacity layout, technical barriers, brand premium, and digital efficiency combined can win. Sailun has provided a solid sample.