Hongsheng Rubber reports that overseas orders increased significantly in 2024, with a 20% increase in the first half of the year. And moving forward, the company’s production capacity has been scheduled until March 2025, according to an interview with local media in Guangrao.
At 2.28 billion yuan (about £250 million; €290 million), Doublestar’s revenue was almost the same year-on-year in the first half of 2024. Doublestar was still in the red during the reporting period. However, compared with the same period in 2023, its losses were further reduced to 57.1 million yuan (about £6.2 million; €7.4 million). According to Doublestar, “PCR product profitability continues to improve” but “insufficient market demand for truck and bus tyres” is why the tyre manufacturer is still losing.
Doublestar has sold its Guangrao-based factory, Guangrao Jixing, to Lubo Rubber for 205 million. The two parties signed a Property Rights Transaction Contract in September 2024, confirming what we published in May 2024.
Doublestar reduced the registered capital of Guangrao Jixing, a wholly owned subsidiary, on the grounds of “strategic optimisation and adjustment”. Information released by the tyre manufacturer shows that the registered capital of Guangrao Jixing has been reduced from 609 million yuan to 205 million yuan.
Less than two weeks remain until the opening of the 2024 Guangrao Tyre Show (ChinaGRTAE 2024). Tyrepress China learned from the organisers that several local companies in Guangrao will hold concurrent activities during the exhibition.
From 15-17 May, the 14th China (Guangrao) International Rubber Tire & Auto Accessory Exhibition will run with the theme of “Global Full Chain, New Quality and New Future”. A total of 780 booths are planned for this exhibition, an increase of 30 compared to the previous session.
Guangrao Tyre Exhibition’s organising committee reports that the event has opened pre-registration. Specific information can be found on its official website: grtirexpo.com.
The 14th China (Guangrao) International Rubber Tire & Auto Accessory Exhibition (ChinaGRTAE) will be held on 15-17 May. The three-day exhibition has more than 780 booths covering eight categories, including tyres, wheels, rubber tyre machinery and equipment, raw rubber materials, automobile repair and maintenance, and automobile accessories. In addition to tyre manufacturers such as Hengfeng and Huasheng, upstream and downstream companies such as Solprima, Xingda Steel Cord, and JD.com will also appear at the 2024 Guangrao tyre exhibition.
Recently, Guangrao County authorities, Shandong Province, held a press conference and stated that it would launch 10 policies to support the high-quality development of the local rubber tyre industry.
The 2023 Guangrao tyre exhibition came to an end on May 17, bringing to an end its first live show – held “offline” – since 2019. Tyrepress attended the three-day 2023 exhibition, and noted similarities with the past but also some changes in exhibitors and visitors to the show. This article was originally posted in Chinese on our sister website, Tyrepress China. A few years ago, the tyre industry in Guangrao underwent integration and reorganisation due to many factors. After undergoing multiple rounds of reshuffling, the local tyre industry has achieved industrial upgrading. At the 2023 Guangrao tyre exhibition, Huasheng, Zhongyi, Jinyu, Hengfeng, Fangxing, Yongsheng and other well-known local tyre companies have booths.
At the 2023 Guangrao tyre exhibition, Huasheng Rubber held a press conference and released a variety of electric vehicle tyres. Tyrepress China learned at the press conference that the new electric vehicle tyres released by the tyre manufacturer cover PCR and TBR. Passenger car tyres include three products: ultra-quiet series, self-repairing series and colourful customised series. The ultra-quiet series products use new polyurethane foam mute cotton material with an excellent silent effect. Compared with ordinary products on the market, the noise of this product is reduced by 6-10 decibels. Self-repairing series products can maintain stable performance between minus 35 and 120 degrees Celsius. Colourful customised series tyres are designed to meet the market’s demand for trends.
Shandong Province, one of the leading tyre production areas in China, is once again affected by the Covid-19 epidemic. On December 1, there were 41 new confirmed cases and 623 asymptomatic infections in this area. To ensure production can continue, two tyre companies have announced the implementation of closed-loop management.
Guangrao County in Dongying City seems to have gone silent in a short period. On October 20, Guangrao detected an asymptomatic case of Covid-19. Then things seemed to get serious. Data from the Dongying Municipal Health Commission showed that from the 22 to the 30, new asymptomatic patients of Covid-19 were found in Guangrao daily. The government launched a response policy in a short time. According to Guangrao residents, since the 23, some communities have asked people to stay at home, and some factories require closed-loop management.
On October 8, the Guangrao County Government announced a list of awards that included six tyre industry companies. The awards stem from the fact that this county’s tyre industry was set as one of the advanced cluster industries by Shandong Province in 2020. It is reported that some enterprises in Guangrao County engaged in tyre-related fields can obtain incentive funds.
In light of the Covid-19 pandemic, and in order to protect the health of exhibitors, visitors and partners the 11th China (Guangrao) International Rubber Tire & Auto Accessory Exhibition (referred to as China GRTAE 2020), which was originally scheduled to be held at Guangrao International Expo Center, Shandong from 15-17 May has been rescheduled for 8-10 September 2020.
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ChinaGRTAE Organising Committee
Tyrepress China/Xuda Wang
Tyrepress China/Xuda Wang
Önder Örtel; Unsplash
Xuda Wang
Guangrao County Government