An inclusive idealist. I am a Masters graduate from the University of Westminster. I’ve read over 1000 books, traveled to every province in China as a backpacker, and volunteered with several NGOs in Southeast Asia. I have many years of working experience as a journalist in the auto industry.
The 2025 Guangrao Tyre Exhibition is about to open in just over two weeks. Running from 15-17 May, this gathering of the Chinese tyre industry will be held at the Guangrao International Expo Center. Tyrepress China learned from the organisers that this year’s exhibition has new highlights.
In 2024, Triangle’s revenue and net profit both declined. Among them, revenue was 10.16 billion yuan (about £1.045 billion; €1.228 billion), a decline of 2.55 per cent; net profit was 1.1 billion yuan (about £113 million; €133 million), a decrease of 21.03 per cent. The cash flow situation was even worse, down 45.08 per cent year-on-year. Triangle said the main reason for its cash flow decline was that its “purchase payment amount increased and sales received cash decreased” in 2024.
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Pirelli’s board is expected to approve an accord on Monday to end Sinochem’s control of the tyre maker, Reuters report stating: “Chinese and Italian shareholders in Pirelli have been at odds over the group’s governance” with the upshot being that Sinochem was considered to have hindered Pirelli’s expansion in the United States.
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Linglong plans to jointly establish Linglong (Brazil) with Sunset S.A. Comercial Industrial Y De Servicios (Sunset) in Brazil and carry out business activities. Linglong holds 70 per cent of the shares, and Sunset holds 30 per cent. The tyre manufacturer said it would adopt a combination of monetary and non-monetary investment to establish Linglong (Brazil) under the premise that Brazilian laws and regulations permit.
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Aeolus’ revenue in 2024 was 6.71 billion yuan (about £693 million; €808 million), a year-on-year increase of 16.89 per cent. However, the tyre manufacturer’s net profit and cash flow fell sharply year-on-year. Net profit was 280 million yuan (about £29 million; €34 million), a year-on-year decrease of nearly 20 per cent. Net cash flow generated by operating activities was 200 million yuan (about £21 million; €24 million), a decrease of nearly 60 per cent.
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In Perth, Australia, Sailun and Rio Tinto signed a five-year supply agreement and global framework agreement for the Simandou project in Guinea from 2025 to 2030. Sailun said that its Maxam brand would provide a complete set of tyre solutions for Rio Tinto’s 230-ton mining trucks and supporting auxiliary equipment for the Simandou iron ore mine in Guinea and will gradually start cooperation with Rio Tinto’s other global projects.
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In April 2024, the tariff policy of the Trump administration in the United States may completely changed the pattern of China’s tyre exports. Therefore, China’s export data in March may be the end of the era of China’s tyre export expansion. Next, the geopolitical changes led by the United States will determine the long-term and specific impact on China’s tyre exports in the future.
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Prinx Chengshan recently announced its operating data for 2024. The tyre manufacturer achieved revenue of more than 10 billion yuan last year, reaching 10.97 billion yuan (about £1.15 billion; €1.32 billion). During the same period, Prinx Chengshan’s net profit was 1.31 billion yuan (about £140 million; €160 million), a year-on-year increase of 26.9 per cent.
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The organising committee of the Guangrao Tyre Exhibition announced more than 10 concurrent activities during the 2025 exhibition. It can be seen from the published list of activities that this year’s activities will cover the entire tyre industry chain, including both upstream carbon black and downstream retail industries. In addition, digitalisation and intelligence will also be the focus of discussion in concurrent activities.
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Yang Chi-Jen, chairman of Taiwan tyre manufacturer Kenda, recently told Taiwanese media that “the possibility of setting up a tyre factory in the United States in the future is not ruled out.”
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On 2 April, the Trump administration announced its intention to impose tariffs on all imported products entering the USA. Although the specific timing and final rates of these tariffs have yet to be determined, it is clear that this development will have a significant impact upon China’s tyre industry.
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On 28 March, Japanese tyre manufacturer Yokohama transferred senior executives who run its Chinese business. Specifically, the position of Associate Officer Tomoyuki Okuno was changed to Assistant to President of Hangzhou Qiantang Yokohama Tire. Before this, his position was President of this company. Hangzhou Qiantang is a passenger car tyre manufacturing base newly invested and built by Yokohama.
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Qingdao Doublestar’s 2024 annual report shows that the company’s lost 356 million yuan (about £38 million; €45 million) last year. Compared with the loss of 176 million yuan (about £19 million; €22 million) in 2023, Qingdao Doublestar’s loss more than doubled. In 2024, the tyre manufacturer’s revenue fell 6.89 per cent year-on-year.
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Prinx Chengshan has disclosed in its 2024 annual report that it plans to build a second overseas factory in 2025. The current site is Kedah Rubber City in northern Malaysia.
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On 1 April, HOdo Group transferred its 389 million shares of Jiangsu General to Jiangsu SOHO Holdings through an agreement transfer. The transfer price was 544 million yuan per share, totalling 2.12 billion yuan (about £226 million; €270 million).
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