5 days 2 fall and stop, the stockholders lost over 130,000, "the first share of private tires"?

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5 days 2 fall and stop, the stockholders lost over 130,000, "the first share of private tires"?

2021-11-25 00:27:05 16 ℃

Author: Sai Wen Editor: Small city girl

"The First Share of Private Tire" Rouvet Tires have opened up the new high after the stock price, ushered in the embarrassing situation of 5 days.

On November 16th, the race tire touched the down, the market value was 4.595 billion, and the company's 34,700 shareholder (as of the third quarter of 2021) averaged over 130,000 yuan.

At the beginning of August, the random stock price started from 8 yuan / share, and once a degree broke through 16 yuan / share, the market value was close to 50 billion.

As the first A share of China's first A-share, the privacy tire enterprise is known as "the first share of private tires", which has increased by more than 600% in the past decade.

What happened to the rim tire?

This is to see from industry logic, what happened to the basis of the tire stock?

Since the second quarter of this year, because of the price of commodity prices, the prices of tire raw materials have risen, which directly triggered a wave of global tires.

Foreign car tire faucet solid specialization announced from September to the tire price, the price increase is 8%. And this is already the fourth ranking price within one year.

In June earlier, the company has risen three prices in companies such as Bridgestone and Excellent Horses.

Further, domestic tire enterprises have begun to start in the second half of this year. On June 29, Xiamen Zhengxin Haiyan tire said will be 3% -7% from July 1st. Then, the Fengshen tire also released the first July price increase notice. Data show that as of November 3 this year, 84 companies have completed the price increase, and many of the company's price increases have been pushed to 2022.

Under this global tire, the tire price of domestic manufacturers has increased by nearly 10%, and there is a minimum of about 2%.

Even so, the increase can still be completely covered by the increased cost. Because of the weak demand, under the multi-extrusion of the sea, the listed company of tire enterprises, Maori, a low point in the year. The domestic tire industry faucet exquisite tires have gross margin 20.56%, a year-on-year reduction of 7.83 percentage points. The first race of the domestic private tires also fell from 21.74% of Q2 to 17.34%.

From the current price increase effect, there are industry insiders forecast that there will be some improvements in the third quarter of the gross profit space in the fourth quarter. "From the end of the raw material, the price of raw materials is difficult to continue, and the company can be transmitted as long as the price changes of raw materials are relatively stable."

Comprehensive major brokers, the price of raw materials is falling, and although there is a rebound, the manufacturer has conducted the cost of the cost. The mitigation of the current epidemic also allows the situation of tire shipping container shortages to improve.

For domestic tire manufacturers, the most dark moments have passed.

And like exquisite tires, rolling tires, triangular tires, etc., listed companies, are quite brave in the short term.

For rocker tires, the company developed liquid gold tires will enter the harvest season. Liquid gold tire material is a wet killing glue, which achieves a comprehensive increase in the three major basic characteristics of tires (devil triangles) low rolling, high wear resistance, and strong grip. Compared to traditional tires, liquid gold tires are produced in production and use more low carbon energy. This is expected to directly enhance the company's product premium.

In 2021, according to the race plan, the integration of Weifang plant and the production capacity of the Shenyang factory is expected to reach 14.7 million all steel tires, 70 million half-steel tires. Overseas projects in the third phase of the company and Cambodia "annual production of 9 million half-steel tires" are also accelerating construction.

One thing to pay attention to, software shows that 34.89 times the pultout (TTM) of the rim tires (TTM), higher than the average value of 23.24 times, which is also higher than the market average 27.19 times P / E ratio (TTM).

The situation in the 5-day 2 decline is a bit unfair to prevent it. It can only be said that the industry and the company's fundamentals have not changed, and relatively high valuation may make the market and people have changed.


This paper relates to the content of the listed company, based on the personal analysis and judgment of information (including but not limited to interim announcements, regular reports, and official interactive platforms) based on its legal obligation, information or opinion in the text The market value observation is not responsible for any action due to adoption of this paper.