Natural rubber prices have recently been rushed to 24,000 yuan / ton, up more than 100% over the same period last year, giving tire companies a huge cost pressure. According to sources, the policy of supporting the tire industry is expected to be introduced after the two sessions and will bring a glimmer of hope to the industry.
On March 4, there were market rumors that Qingdao Double Star (000599, closing price of 8.84 yuan) intends to raise prices by 10% in March. When the "Daily Economic News" reporter called the company, the other party said that the company was inconvenient to respond to price increases. Guoxin Securities analyst Chen Aihua told reporters that tire prices have already been implemented, prices of different prices of different products, compared with the fourth quarter of last year, an increase of 3% to 4%. In spite of the increase in prices, Tianxiang Automobile Group believes that the gross profit margin of enterprises with slightly better bargaining power may still drop by 3%, while the worse may decline by more than 5%.
According to Chen Aihua, an analyst at Guosen Securities, Tire A and Fengshen have relatively good control over costs and market, and the impact is relatively small. Although Qingdao Shuangxing has a large scale, its gross profit margin is relatively low and it is greatly affected.
Some sources pointed out that the policy of supporting the tire industry after the “Special Protection Case†will be discussed at the two sessions and is expected to be introduced after the two sessions. In fact, as early as the end of last year, the Economic and Technical Committee of the China Rubber Industry Association organized discussions and drafted the “conditions for the entry of the tire industry†in the industry. Analysts believe that the introduction of "Admission Conditions" will be beneficial to large-scale leading enterprises and will set off a wave of mergers and acquisitions within the industry. According to another report, the Guiding Opinions on the Structural Adjustment of the Rubber Industry and the 12th Five-Year Development Planning Guideline for the Tire Industry will also be introduced this year.
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