YANTAI, China — Linglong Group Co. Ltd.'s revenue jumped by nearly one-third this past year over 2016, according to a recent filing on the Shanghai Stock Exchange.
The company, represented in the U.S. by Linglong Americas Inc., posted sales of $2.06 billion, representing a 32-percent jump over 2016.
Last year the company's tire sales volume grew significantly, Linglong said in its January filing.
"Market demand warmed up and the company has been improving its product quality and delivery capability," said the filing.
Operating and net profits rose 4 and 2 percent, respectively, to $161.2 million and $149.9 million, dropping the operating ratio two full points to 7.9 percent.
Linglong attributed the slower profit growth to the rising prices of raw materials, such as additives, carbon black and tire "framework."