China Enterprises Ltd. discloses first half results

Oct. 1, 2001

China Enterprises Ltd., formerly known as China Tire Ltd., achieved a 29% growth in total sales revenue during the first six months of 2001.

The company attributes the boost to "improved marketing strategies and expanding distribution network resulting in both increased sales volume in both bias and radial products."

China Enterprises' first half gross profit margin was 12.1% vs. 9.6% for the same period last year thanks to lower raw material costs and economies of scale brought on by production increases.