v Due to booming purchases and sales, related companies in the auto sector continued to refresh the new high of profit growth. The net profit of the leading automaker Shanghai Automotive [18.45 0.00%] doubled last year. However, several happy families have been guilty. Due to the sharp increase in the price of rubber, the 2010 annual report of the performance of tire-listed companies has changed. In addition to the double-money shares [16.870.42%], the “four diamonds” of the tires, the net profits of the tires A [10.14 0.40%], Aeolus [9.99-0.20%] and S-Gates [9.14 0.44%] There was a decline of more than 50%, among which Tire A had the largest reduction, and net profit fell by 70%.

Net profit fell by an average of 50%

黔 Tire A's previously announced performance forecast announcement shows that net profit in 2010 was 111 million yuan, down 50% to 70% year-on-year; S-Galllink’s 2010 annual report released on February 19 showed that although 2010 operating income rose year-on-year 36.44%, net profit has fallen by 63.81%; Fengshen shares expected the company's net profit in 2010 was 310 million yuan, down about 50% year-on-year.

Although Qian Qian shares previously predicted that the profit in 2010 or more than 50% increase over last year, but a large part of the profits, not the main business income, but from the transfer of equity in the two companies last year to obtain a net income of about 180 million yuan.

The continuous soaring price of rubber has caused a sharp decline in corporate profits. Listed companies have mentioned that the price of raw rubber is mainly rising. S.G.T. mentioned in its annual report that, although the tire industry was prosperous in 2010, due to factors such as high raw material prices, exchange rate fluctuations, global trade protection, and intensified competition in the domestic market, the downward trend in profits was inevitable. The gross profit margin of the company's main business during the reporting period was only 11.12%, a year-on-year decrease of 10.27%.

Since June 2010, rubber prices have risen suddenly. At that time, the 1105 natural rubber contract on the Shanghai Futures Exchange began to rise unilaterally from 20,000 yuan/ton, and last year it exceeded 30,000 yuan/ton in October; January On the 19th, the price of rubber broke the mark of 40,000 yuan in one fell swoop, and the highest rushed to 4,350 yuan. However, due to the recent tensions in the Middle East, the price of natural rubber in Shanghai has dropped. As of yesterday, the main contract of 1,103 yuan was closed at 39,930 yuan per ton, still consolidating at a high level.

Since the cost of rubber accounts for approximately 50% of the total tire production cost, rubber prices are one of the most sensitive aspects of tire manufacturing companies. According to the statistics of the China Rubber Industry Association, the profits of tire companies in the country from January to November 2010 decreased by 22% year-on-year, and the industry-wide loss was nearly 50%.

Some analysts pointed out that from the current situation, the days of tire companies in 2011 may still be difficult. Because the external easing policy has led to the continued proliferation of global liquidity, inflation expectations may cause overseas rubber prices to continue to rise, and China has become the world's largest natural rubber importer. The foreign dependence of rubber has reached 70%, so this year The cost pressure on tire companies may be even greater.

Obviously, the rubber companies have benefited from the tires of tire companies, and the listed companies, which are mainly engaged in rubber planting, have enjoyed quite satisfactory results. Hainan Rubber [14.83-3.89%] has quadrupled the listed price, setting the title for the most bullish new shares. According to its previous notice, this year's performance will increase by more than 80%, of which the important reason is that rubber prices have soared.

The performance of another rubber leading stocks Sinochem International [12.73 0.39%] is remarkable, rising 7.27% this year, while the Shanghai Securities Index [2862.63 0.25%] rose only 1.94% over the same period, significantly stronger than the broader market.