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.
MESNAC has announced plans to invest in factories in Vietnam and Cambodia. The company’s board of directors has approved two investment plans. The investment in the Vietnam factory amounts to 107 million yuan, and the construction period is about 18 months. The total investment in the Cambodian factory is 27.97 million yuan, and the construction period is 14 months.
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On 19 June, the World Brand Lab released the latest “China’s 500 Most Valuable Brands” list. Compared with the data in 2023, there are still nine tyre manufacturers on this brand value list, and the ranking has not changed.
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Jiangsu General said the Thailand plant’s construction project (Phase II) has been modified. Specifically, the tyre manufacturer has increased the production capacity of semi-steel radial tyres at overseas bases and cancelled the plan to expand the production capacity of full-steel radial tyres.
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The first tyre produced by Sentury’s Morocco factory may roll off the production line before the end of September, with the manufacturer saying: “The factory infrastructure is close to completion and will soon enter the equipment commissioning stage”.
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On 30 May, Cheng Shin Rubber released its 2023 annual report. In terms of sales, the tyre manufacturer’s sales in 2023 were all lower than the previous year. Among all categories of tyres, the sales of motorcycle tyres increased by 0.34 per cent year-on-year, which was flat. However, the sales volume of PCR, TBR, bicycle tyres, inner tubes and other tyre products all declined to varying degrees. The decline in PCR and TBR products was 12.92 per cent and 26.08 per cent.
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On 31 May, Kenda chairman Yang Chi-Jen revealed some of the tyre manufacturer’s operations at the shareholders’ meeting. In his words, the company’s Phase II project at its Shenzhen factory in China stopped production on 1 June and was converted into a sales centre and shipping warehouse. After the suspension of production, the products distributed to the southern Chinese market will come from Kenda’s other tyre manufacturing bases, including the Kunshan and Tianjin factories. Before the suspension of production, the project mainly produced motorcycle tyres.
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Jiangsu General held an overseas dealer conference in Cambodia on 22 May and celebrated the first anniversary of its Cambodian tyre production base. At the meeting, the tyre manufacturer announced that the first phase of the Cambodian project had reached production. In other words, its Cambodian factory can now produce 5 million semi-steel radial tyres and 900,000 all-steel radial tyres per year.
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The Chinese customs department punished Yokohama’s Suzhou factory for “false declarations and unpaid taxes”.
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Recently, Huayi Group announced its 2023 results. Double Coin, which is responsible for the company’s tyre business, reported 2023 revenue of 10.184 billion yuan (approximately £1.1 billion; €1.3 billion), a year-on-year increase of 1.64 per cent per cent. Throughout the year, the company produced 14.509 million tyres and sold 14.874 million tyres, an increase of more than 10 per cent from the previous year.
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Tyrepress China learned during the 2024 Guangrao Tyre Show that local tyre manufacturer Fangxing Rubber is implementing a production expansion plan. Specifically, Fangxing Rubber’s current production capacity is 3 million truck and bus radials (TBR) and 3 million passenger car radials (PCR). After the expansion plans are enacted, the company will have increased its production capacity for TBR and PCR to 5 million and 6 million, respectively.
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In 2023, Jiangsu General’s revenue was approximately 5.06 billion yuan (approximately £540 million; €640 million), with a net profit of 220 million yuan (about £ 24 million; €28 million). Compared with the net profit of approximately 17 million yuan (about £1.8 million; € 2.16 million) in 2022, the company’s profit has increased more than tenfold in the past year.
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Aeolus’ revenue in 2023 will be 5.74 billion yuan (approximately £620 million; €730 million), an increase of 15.05 per cent from the previous year. Among the market shares, domestic market revenue accounted for 52.23 per cent, and replacement and OE accounted for 28.58 per cent and 23.65 per cent, respectively. According to the tyre manufacturer, it will launch a new 12R22.5 TBR product portfolio in the domestic market in 2023.
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Data from China Customs shows that tyre exports continued to grow in April. The quantity and value of exported tyres were 55.49 million units and 13.32 billion yuan (approximately £1.45 billion; €1.7 billion).
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In 2023, Chinese tyre manufacturer Triangle’s achieved revenue of 10.42 billion yuan (about £1.13 billion; €1.33 billion) and net profit of about 1.4 billion yuan (about £150 million; €180 million). Revenue of 10.42 billion yuan means that Triangle has surpassed Double Coin in the ranking of Chinese tyre manufacturers in 2023 and comes in behind ZC Rubber, Sailun and Linglong.
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On 15 May Chinese tyre manufacturer Linglong decided to appoint Xu Yongchao as vice president. The reason given by the tyre manufacturer was to “further enhance the company’s core competitiveness and combine it with the company’s business development needs,” but the company did not specify which particular part of the business the newly promoted executive would be responsible for.
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