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Consumer Durables

Cheng Shin Rubber Ind Co., Ltd.

  • 47.40 TWD
  • +0.35
  • +0.74%
  • Taiwan
    Apr 26, 2018
  • Ticker
    TAI(2105)
  • Prev. close
    47.05
  • Market cap (TWD)
    152,508.59M
  • Market cap (USD)
    5,143.02M
  • Shares
    3,241.41M

Company Background

Cheng Shin Rubber Ind is Taiwan's largest tire maker and a top-10 global tire supplier, with factories in Taiwan, China, Vietnam and Thailand. It was founded in 1967 in the central Taiwanese county of Changhua, and was listed on the local stock exchange in 1987.

It supplies tires for cars, motorcycles and bicycles, marketing its products worldwide mainly through its Maxxis brand. Its customers include major international auto companies, such as BMW, Ford Motor and Toyota Motor.

Its chairman, Robert Lo, was born in 1953 and is the son of founder Luo Jye. Lo started working at Cheng Shin in 1989 as the vice president of the group's unit in the southern Chinese city of Xiamen. He took over from his father in 2014.

Business Summary

Cheng Shin Rubber Ind. Co., Ltd. engages in the manufacture and sale of rubber tires. Its products include radial tires, car tires, agricultural and industrial tires, motorcycle tires, bicycle tires, and bicycle inner tubes. The company was founded on January 1, 1967 and is headquartered in Changhua, Taiwan.

Financial Highlights

Dec 2017 TWDUSD
Revenue112,309.16M3,691.62M
Gross Profit25,678.07M844.04M
Operating income8,398.49M276.05M
Income before tax8,374.19M275.26M
Net income5,541.78M182.15M
EBITDA19,964.08M656.22M
Diluted EPS1.710.05
Dividends Per Share1.800.05
Total Assets179,084.25M6,017.91M
Total liabilities96,192.95M3,232.45M
Total equity82,205.29M2,762.41M
Operating cash flow8,562.37M281.44M
Currency in TWDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 133,086.54M 129,014.06M 116,726.29M 117,387.51M 112,309.16M
Gross Profit 35,327.79M 35,900.50M 35,557.79M 36,289.10M 25,678.07M
Operating income 22,214.77M 21,189.73M 18,620.38M 18,671.58M 8,398.49M
Income before tax 23,236.32M 21,230.73M 17,438.44M 17,869.85M 8,374.19M
Net income 18,548.52M 16,015.59M 12,776.65M 13,250.90M 5,541.78M
EBITDA 31,301.98M 31,743.21M 29,983.41M 30,216.64M 19,964.08M
Diluted EPS 5.71 4.93 3.93 4.08 1.71
Dividends Per Share 3 3 3 3 1.80
Total Assets 162,228.47M 169,870.36M 165,958.22M 168,164.72M 179,084.25M
Total liabilities 82,828.98M 81,313.34M 76,005.63M 79,895.33M 96,192.95M
Total equity 78,814.10M 87,763.39M 89,161.13M 87,493.25M 82,205.29M
Operating cash flow 28,773.44M 25,576.88M 27,638.29M 26,987.96M 8,562.37M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 4,483.85M 4,257.43M 3,675.94M 3,639.83M 3,691.62M
Gross Profit 1,190.23M 1,184.70M 1,119.78M 1,125.21M 844.04M
Operating income 748.44M 699.25M 586.39M 578.94M 276.05M
Income before tax 782.86M 700.61M 549.17M 554.09M 275.26M
Net income 624.92M 528.51M 402.36M 410.87M 182.15M
EBITDA 1,054.60M 1,047.51M 944.23M 936.92M 656.22M
Diluted EPS 0.19 0.16 0.12 0.12 0.05
Dividends Per Share 0.10 0.09 0.09 0.09 0.05
Total Assets 5,443.26M 5,375.30M 5,052.46M 5,217.80M 6,017.91M
Total liabilities 2,779.16M 2,573.04M 2,313.92M 2,478.98M 3,232.45M
Total equity 2,644.45M 2,777.14M 2,714.43M 2,714.73M 2,762.41M
Operating cash flow 969.41M 844.03M 870.38M 836.81M 281.44M

Valuation Measures

Dec 2017
PER30.70
ROA3.19%
ROE6.53%
Operating margin7.47%
Profit margin4.93%

Key executives

  • Chairman & General Manager: Tsai-Jen Lo
  • Head-Finance & Spokesman: Yung Li Lo
  • Director & General Manager-Xiamen: Shiu-Hsiung Chen
  • Deputy General Manager: Chung Jen Huang
  • Deputy General Manager: Wen Hsing Peng

Shareholders

  • LO MING HO (11.4%)
  • LO TSAI JEN (8.7%)
  • The Vanguard Group, Inc. (1.9%)
  • CHEN SHIU HSIUNG (1.7%)
  • BlackRock Fund Advisors (1.4%)
  • CHEN JUNG HUA (1.2%)
  • Norges Bank Investment Management (0.8%)
  • CHIU LI CHING (0.8%)
  • APG Asset Management NV (0.6%)
  • TSENG SUNG CHU (0.6%)

Contact Details

  • Website:http://www.cst.com.tw
  • Address: No. 215, Mei Kang Road, Huang Tso Village, Changhua, 51545, Taiwan
  • Phone: +886.4.852.5151

Related Companies

  • CST Rubber (Zhangzhou) Ind. Ltd.
  • Cheng Shin Tire & Rubber (Chong Qing) Co. Ltd.
  • Cheng Shin Tire & Rubber (China)
  • Cheng Shin Rubber Vietnam Ind Co. Ltd.
  • Cheng Shin Rubber Industry Co. Germany GmbH
  • Cheng Shin Rubber Canada, Inc.
  • Cheng Shin Rubber Xiamen Ind Ltd.
  • Cheng Shin Rubber USA, Inc.
  • Cheng Hsin Rubber US Ltd.
  • CST Trading Ltd.
  • Maxxis International Co. Ltd.
  • Chiao Hsin Enterprise Co. Ltd.

Competitors

  • Bridgestone Corporation
  • Federal Corp.
  • Hwa Fong Rubber Ind. Co., Ltd.
  • Kenda Rubber Industrial Co., Ltd
  • Nankang Rubber Tire Corp., Ltd.
  • Amerityre Corporation
Last Updated on 26 Apr, 2018

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