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 tyre industry has long been considered a high-energy consumption industry, and manufacturers based in China have therefore been profoundly impacted by their government’s carbon neutrality and carbon peaking policies. Prinx Chengshan comments that Shandong Province, where its factory in China is located, frequently issues guidance to aid qualitative development within the tyre industry.
On May 16, Risingsun, a Chinese manufacturer of air-free tyres, was listed on the National Equities Exchange and Quotations (NEEQ). The move means the company’s shares can be publicly traded.
Tyrepress China learned that China’s Shandong Province exported 75.419 million new pneumatic rubber tyres in the first quarter, an increase of 11.1% over the same period last year. The total export value was 19.45 billion yuan, a year-on-year increase of 17.6%; the average export price was 257.9 yuan per tyre, a rise of 5.8%.
On 22 May, General Tires Technology (Cambodia) held its opening ceremony, which means Jiangsu General’s second overseas production base has officially begun operation. Cambodian Prime Minister Hun Sen and Chinese Ambassador to Cambodia Wang Wentian attended the ceremony and cut the ribbon for the Jiangsu General Cambodia factory.
In 2022, Linglong Tire’s revenue was 17 billion yuan (approximately £1.94 billion; €2.24 billion). Within that, Linglong achieved a revenue of 16.73 billion yuan (about £1.91 billion; €2.2 billion) specifically from tyres. Linglong balanced its domestic and overseas businesses but the revenue brought in by domestic trade was slightly higher. The company’s tyre sales in China reached 8.55 billion yuan, and its export and overseas sales reached 8.18 billion yuan.
The 13th China (Guangrao) International Rubber Tire & Auto Accessory Exhibition (ChinaGRTAE 2023), will be officially unveiled in a few days. On 8 May, a week before the start of the exhibition, the government of Dongying, the city to which Guangrao County belongs, held a press conference on the overall situation relating to the exhibition. At the time, the organisers said that between 15-17 May at least 20,000 professional visitors will participate in the exhibition, and more than 800 foreign businessmen would visit. Tyrepress has China learned that the theme of this exhibition is “Gathering the power of the industrial chain; Building a new development pattern”. In terms of format, ChinaGRTAE 2023 will be mainly offline and supplemented by online.
On 5 May, Jiangsu General announced plans to build a tyre plant in Baotou City, Inner Mongolia, China. The total investment is about 1.51 billion yuan (about £170 million; €200 million). After completion, it will produce 1.2 million all-steel radial truck tyres and 100,000 OTR tyres per year. Jiangsu General says it is “the first modern tyre factory in Baotou City”.
On 15 May, the 13th China (Guangrao) International Rubber Tire & Auto Accessory Exhibition (ChinaGRTAE 2023) opens. Since it was first held in 2010, the Guangrao Tire Exhibition has held ten offline and two online exhibitions. The ChinaGRTAE 2023 is this large tyre exhibition’s first physical event since 2019.
In 2022, Sailun’s revenue was 21.9 billion yuan (approximately £2.55 billion; €2.89 billion), a year-on-year increase of 21.69 per cent. Sailun became the first listed Chinese tyre company with revenue exceeding 20 billion yuan. At the same time, the company’s revenue in 2022 surpassed Linglong, becoming the number one listed tyre company in China. During the reporting period, Sailun produced 43.2078 million tyres, sold 43.903 million tyres, and realized a net profit of 1.33 billion yuan (about £150 million; €180 million).
From 15-17 May 2023, the 13th China (Guangrao) International Rubber Tire & Auto Accessory Exhibition (ChinaGRTAE 2023) will be held in Guangrao County, Shandong Province, China. According to the show’s organiser, more than 50 tyre manufacturers are participating in the ChinaGRTAE 2023. In addition to local tyre manufacturers, well-known tyre manufacturers such as Goodyear, Continental, Dunlop, CST (Cheng Shin Tire), Giti, Sailun, Nexen, and Kenda, will also set up booths at this exhibition. Upstream and downstream enterprises in the tyre manufacturing industry chain, such as Solprima, Xingda Steel Cord, MAK, Jinfei Kaida wheel, and Yueling wheel hub, will also participate in this exhibition.
In March 2023, China exported 52.98 million new pneumatic rubber tyres, a year-on-year increase of 12.3 per cent. After experiencing a downturn in January, China’s tyre exports substantially grew in the last two months of the first quarter. Due to the sluggish performance in January, the export volume of Chinese tyres from January to March was 139 million, an increase of only 1.3 per cent compared with the same period in 2022.
Recently, Shanghai Huayi, the parent company of Double Coin, announced its operating data for 2022. In 2022, the revenue of Huayi’s tyre segment reached 10.02 billion yuan (approximately £1.175 billion; €1.338 billion), a year-on-year increase of 6.62 per cent. Regarding net profit, Huayi relies heavily on Huayi Group (Hong Kong), which is responsible for overseas business (especially the business of factories in Thailand). During the reporting period, Huayi Group (Hong Kong) achieved a net profit of 172 million yuan (about £20 million; €23 million). The Double Coin Tire Group, responsible for Huayi’s domestic tyre business in China, lost 26.4318 million yuan (about £3.1 million; €3.53 million).
On 24 March, the Chinese Ministry of Industry and Information Technology revealed its 2022 Green Manufacturing List. Tyrepress China noted that the list of green factories includes five tyre manufacturers, namely Jinyu Tires, Triangle, Zodo Tire, Doublestar Dongfeng, and Sailun. Among them, Doublestar Dongfeng is the manufacturing base of Doublestar, located in Shiyan, Hubei.
On 18 March, China Customs announced the export data for the first two months of 2023. In January, China exported 46.84 million new pneumatic rubber tyres with a total weight of 620,000 tons. The tyre export value of the month reached 10.97 billion yuan (approximately £1.3 billion; €1.48 billion).
On 24 March, Jiangsu General terminated its plans to build a tyre factory in Anqing, Anhui. The tyre manufacturer said that the relevant procedures could not meet the project’s construction and development needs due to factors such as industrial policies, local policies, and land planning. Considering “time cost, project planning and market”, Jiangsu General terminated the investment. At the same time, the company believes that the expenditure on the Anqing project is relatively small, and the termination will not significantly impact its financial status and operations.
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