Jiangsu General aims for 10 billion yuan turnover

Gu Cui, chairman of Jiangsu General, revealed the tyre manufacturer’s four development priorities in 2024: the Thailand factory phase II project, the Cambodia factory phase II project, China’s domestic semi-steel radial tyre market, and the OTR market. Specifically, the company hopes to achieve sales and market value of 10 billion yuan.

Public data shows that Jiangsu General’s revenue in the first three quarters of 2023 is 3.68 billion yuan (about £400 million; €470 million). If estimated according to this data, the tyre manufacturer’s revenue in 2023 should be around 5 billion yuan. If it wants to achieve full-year sales of 10 billion yuan, it may need to double last year’s operating performance.

The tyre maker said both of its overseas plants are showing good conditions in 2024. Among them, the shipment volume of semi-steel radial tyres from the Thailand base exceeded 500,000 units in January; in February, the daily output of semi-steel radial tyres exceeded 20,000 units. The Cambodian factory shipped more than 300,000 semi-steel radial tyres in January.