Xingda reports 11% increase in sales volume in 1H 2023

Jiangsu Xingda, a leading tyre cord supplier, registered an 11 per cent growth in sales volume in the first half of 2023. Within the overall sales increase, steel cord sales grew by nearly 12 per cent, bead wire sales grew by 6 per cent, and hose wire sales grew by 12 per cent.

Xingda owns and runs three production bases in China and Thailand. In 2022, Xingda sold 1.055 million tons of steel wire products, commanding a market share of over 30 per cent in China and 20 per cent in the international market, according to company figures.

In the first quarter of 2023, Xingda launched the expansion of its production facility in Shandong, bringing the annual output there to 280,000 tons of steel cord and 100,000 tons of bead wire. The construction of the second phase of its Thailand manufacturing operation “will get underway soon”.

Upon completion, the Thailand factory will be able to output 250,000 tons of steel cord and 100,000 tons of bead wire a year, making it “a production base for high-end products exported to Europe and North America”, according to Xingda representatives.

Xingda has branches and technical service centres in Europe, the United States, India, Japan, South Korea and Brazil, while also establishing logistics and warehousing systems in the United States, Canada, Indonesia and Europe.