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Sailun reports that two of its vice presidents, Gu Kai and Li Jiqing, have resigned due to work adjustments. After resigning as vice president, Gu Kai will continue to hold other positions in Sailun, and Li Jiqing will continue to serve as a director and secretary of the board of directors.
On 30 October, Sailun announced it is building an industrial park in Cambodia called “Cambodia Kampot Special Economic Zone Project” (Kampot SEZ). Furthermore, Sailun said that it is preparing to set up a wholly-owned subsidiary, Kampot Bay Investment Co., Ltd., in Cambodia, which will be responsible for implementing the Kampot SEZ. The project’s total investment is about US$110 million, which will be covered by Sailun’s self-raised funds.
At the same time as announcing its plans for as Cambodian industrial park project, Sailun also noted that details associated with its Mexican factory have changed. The tyre manufacturer has negotiated with the Mexican project’s partner, TD (Tire Direct International Holding, S.A.P.I. DE C.V.), to adjust the registered capital and investment ratio of the Mexican implementation entity STT (SL & TD Tire Manufacturing, S.A.P.I. DE C.V.).
Sailun has extended its premium partnership with German football club FC Ingolstadt 04, giving the tyre brand a continued LED board advertising presence at the team’s home pitch until 2027. It will also continue to be responsible for the tyres on the team bus.
In a stock exchange submission dated 11 October 2024, Sailun Group Co., Ltd. shares its estimation that net profit attributable to shareholders of the listed company for the first three quarters of 2024 will range between RMB 32.10 billion and RMB 32.80 billion (£3.47 billion and £3.55 billion), a year-on-year increase of 58.52 per cent to 61.98 per cent compared with the same period of last year.
Sailun Group plans to merge two wholly owned subsidiaries tasked with establishing additional tyre and materials manufacturing capacities. The company emphasises that the intended absorption merger announced on 24 September will not have a significant impact on its business or financial situation.
Sailun Indonesia factory held a groundbreaking ceremony on 17 September. The tyre manufacturer called the Indonesian project “another important layout of the globalisation strategy”, “meeting the product and service needs of the local market”, and “enhancing the competitiveness and influence of Chinese tyre brands in Southeast Asia and even the global market”.
Sailun Group has published its operating data for the second quarter of 2024, reporting having produced 18.1579 million tyres in the three months to 30 June 2024 and selling 17.9620 million tyres. Revenues from these products amounted to 7.57 billion yuan (£809.02 million) for the period.
At the beginning of June, Sailun Europe presented not only new passenger car tyres from its EcoPoint3 ecosystem at The Tire Cologne but also provided an overview of its current truck tyre range. Highlights included the second generation of fuel-efficient truck tyres, the Fuel Pro SFL2, SDL2, and STL2. Additionally, the manufacturer showcased its mileage-optimised truck tyres, Transport Pro S and Pro D, along with the new city bus tyre, City Pro Z.
During a meeting held today with Vietnam’s Deputy Prime Minister, Tran Luu Quang, Sailun Group confirmed its intention to continue investing in its business within the country. According to Vietnam News Agency, company chairwoman Liu Yanhua said Sailun Group will invest an additional US$200 million in Vietnam in future.
Two years have passed since Sailun Group made a memorable first appearance at The Tire Cologne, launching its EcoPoint 3 technology. The company returned in 2024 to make a significant statement about its ambitions for the international market, including Europe. During a large-scale presentation attended by Chairwoman Liu Yanhua and Founder and Honorary Chairman Yuan Zhongxue, Sailun Group introduced its first dedicated Sailun EV tyre, the Atrezzo E-Range. Mr Yuan proudly showcased to a European audience the massive strides China’s tyre industry has made over the past decades.
On 30 May, Cheng Shin Rubber released its 2023 annual report. In terms of sales, the tyre manufacturer’s sales in 2023 were all lower than the previous year. Among all categories of tyres, the sales of motorcycle tyres increased by 0.34 per cent year-on-year, which was flat. However, the sales volume of PCR, TBR, bicycle tyres, inner tubes and other tyre products all declined to varying degrees. The decline in PCR and TBR products was 12.92 per cent and 26.08 per cent.
Sailun Group is showcasing its tyre solutions across Europe ahead of its participation in The Tire Cologne 2024. The company’s ‘Road to Cologne 2024’ tour includes stops in Italy, Spain, France, the UK, Poland, and Germany, where it will engage with international sales partners and present its latest generation tyre lines. The tour aims to strengthen customer relationships and highlight Sailun’s advancements in tyre technology.
Sailun Group and Tire Direct have broken ground on Aztema, their new joint venture factory in Mexico, with the partners laying a symbolic foundation stone at a ceremony on 15 May 2024. The first phase of construction at the Aztema plant will result in a facility with an initial capacity to produce 6 million car tyres a year; the partners plan to start production in March 2025.
Sailun Group Co. Ltd has released an English-language version of its 2023 Sustainability Report. The 81-page document is the company’s 11th annual Sustainability Report and covers a range of subject areas, including sustainability management, social, environmental and governance.
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