Guizhou Tyre plans to invest in Techking
TechkingGuizhou Tyre’s wholly-owned subsidiary Advance Investment plans to invest 25.5 million yuan (about £3 million pounds; 3.45 million euros) in Qingdao Win-Win Industry Fund.
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Pessimistic Chinese tyre industry: what does the future hold?
Christian Lue; Unsplash2022 has been a challenging year for the Chinese tyre industry. This year is coming to an end, but a feeling of anxiety is crossing regions and classes and spreads throughout the industry. From manufacturers to distributors, from vulcanisation workshop workers to corporate executives, many professionals are asking the question: Where is the future of China’s tyre industry?
Multiple factors affect Guizhou Tyre overseas market
Guizhou TyreRecently, Guizhou Tyre (also known as Advance Tyre) disclosed utilising production capacity. In 2022, China has implemented relatively strict control measures against the epidemic, and the logistics are not smooth, which indirectly leads to weak demand for truck and bus tyres. Affected by the above factors, Guizhou Tyre’s domestic plant has a capacity utilisation rate of around 80 per cent for all-steel radial tyres. Over the same period, capacity utilisation for OTR tyres was about 95 per cent.
Sailun rising: China’s listed tyre companies ranked in 2022 Q3
SailunBased on stock market reporting for the third quarter of 2022, the top nine Chinese listed tyre companies ranked by revenue are Sailun, Linglong, Triangle, Huayi (the holding company of Double Coin), Guizhou Tyre, Sentury, Aeolus, Jiangsu General, and Doublestar. (The leading Chinese tyre company according to Tyrepress global rankings is ZC Rubber (Hangzhou Zhongce), but it is not listed.) The figures show that Sailun has completed a meteoric rise this year to become the Chinese tyre industry’s stock market leader, with an income of more than 6 billion yuan in the quarter, putting it within reach of the global top 10 tyre manufacturers.
Chinese listed tyre companies release third-quarter results
LinglongAt the end of October, several listed companies, including Linglong, Triangle, Sailun, Aeolus, Jiangsu General, Guizhou Tyre (Advance), Doulestar and Sentury, released their operating results for the third quarter. In the third quarter, Linglong produced 17,015,900 tyres and sold 16,623,600 tyres, with a revenue of about 4.37 billion yuan (about 520 million pounds, 600 million euros) and a net profit of about 110 million yuan (about 13.1 million pounds, 15.22 million euros).
Guizhou (Advance) Tyre plans to expand EU sales
Online investor Q&AOn 14 October, Guizhou Tyre (also known as Advance Tyre) answered several questions from investors during an online T&A. Tyrepress has analysed the questions and presents a selection of Guizhou Tyre’s answers here.
Hämmerling expands its Samson tyre range
HammerlingHämmerling – The Tyre Company GmbH, a tyre wholesaler based in Paderborn, Germany and active throughout Europe, with its own Athos, Talas and Sämm tyre, is expanding its Samson product line-up to include a wide range of truck and bus tyres.
Guizhou Tyre reports increased production and sales
On 31 August, Guizhou Tyre released its semi-annual report. In the year’s first half, Guizhou Tyre produced 3.7005 million tyres, a year-on-year increase of 3.53 per cent, and sold 3.4447 million tyres, a rise of 1.07 per cent. During the same period, the tyre company’s revenue reached 3.949 billion yuan (about £490 million, 570 million euros), an increase of 13.16 per cent, and achieved a net profit of 160 million yuan (about £19.86 million, 23.12 million euros).
Guizhou Tyre expands industrial tyres’ production
Guizhou TyreGuizhou Tyre (also known as Advance Tyre) is preparing to launch an industrial tyre manufacturing expansion project with an annual output of 300,000 a year. The total investment in this project is about 24 million yuan (£2.926 million; 3.486 million euros; US$3.588 million). The expansion project does not involve the acquisition of new land.
Guizhou Tyre Vietnam plant officially put into operation
Guizhou TyreGuizhou Tyre Vietnam plant’s first-phase project has officially begun operation with an annual output of 1.2 million all-steel radial tyres. This equates to between 2500 and 2800 units and the products are mainly sold to the United States, Europe and other regions that have implemented anti-dumping and anti-subsidy investigations on Chinese tyres or imposed special tariffs. The tyre maker said that the first-phase project’s production and sales are still in the ramp-up stage.
The top 10 listed Chinese tyre companies 2022
Mylene2401; PixabayChinese listed tyre companies have successively released their 2021 annual reports in recent weeks. Here, Tyrepress analyses these annual reports’ comparing developments in revenue, operating conditions and overseas factory strategy. And the short story is Linglong remains the largest tyremaker amongst the top 10 listed Chinese tyre companies and that Sailun is the fastest growing.
Guizhou Tyre raises 1 billion yuan for Vietnam tyre factory in private share issue
Guizhou TyreOn 4 September 2020 Guizhou Tyre Co. Ltd’s board of directors approved plans for a private share issue. The plan was to raise 1 billion yuan in funding via the sale of now more than 200 million shares to 35 selected investors. By 11 September, the company had received the green light from the state-funded Guiyang Industrial Investment Holding Group Co., Ltd. that it would purchase no less than 43.5 per cent of the issued shares.
Guizhou Tire begins $350 million construction project on two China factories
Guizhou Tire recently broke ground on two new tyre production facilities near the firm’s headquarters in Guizhou, Guiyang province. According to Asian Rubber Journal reports, when operational, the first – a $307 million plant – is expected to generate nearly $426 million annually. Capacity is salted to be 3 million truck tyres a year.
Vietnam factory: Guizhou Tyre establishes subsidiary
It’s almost two years since we first heard of Guizhou Tyre Co. Ltd’s intention to establish a plant in Vietnam, and plans have been taking shape since then. On 4 March, the Chinese tyre maker’s Board of Directors approved the establishment of a new wholly-owned subsidiary.
CITExpo 2018: still room for small-medium Chinese players, though times are tough
Visiting CITExpo in 2018 had the potential to be a gloomy affair. A trade show that has specifically targeted medium-sized tyre Chinese manufacturers as a gateway for raising global interest, the trading environment in major export markets in Europe and North America have not been the most hospitable, with tariffs or anti-dumping duties affecting various product segments. In the UK, we heard from a major Chinese truck tyre importer that business had effectively been put on hold with the announcement that the EU was imposing tariffs in May. Pressure had also been mounting domestically, as the Chinese government moved to bring a halt to production at factories it considered to be too polluting, which led to upstream supply chain problems, as raw materials suppliers to the tyre industry were among those affected.
