Huayi Thailand’s second phase rolls off the first tyre

On 30 August, the first tyre rolled off the production line in the second phase of the Thailand factory run by Huayi, which owns the Double Coin brand. Tyrepress China learned that the project’s second phase involves the production capacity of 300,000 all-steel radial tyres and officially started construction in March this year. If the second phase reaches capacity, the annual production capacity of Huayi’s Thailand factory will be increased to 1.5 million pieces.

The Thailand factory is a joint venture between Huayi and a Thai company, with a 1.2 million all-steel radial tyre production capacity in the first phase.

Huayi indirectly holds 43.35 per cent of the shares of the Thailand factory through Huayi (Hong Kong). In 2022, the factory’s capacity utilisation rate was 116 per cent, which is already in a state of overload production. In the first half of 2023, Huayi (Hong Kong)’s revenue and net profit were 1.493 billion yuan (approximately £168 million; €193 million) and 113 million yuan (about £12.7 million; €14.6 million).