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Huayi Thailand’s second phase rolls off the first tyre

Huayi

On 30 August, the first tyre rolled off the production line in the second phase of the Thailand factory run by Huayi, which owns the Double Coin brand. Tyrepress China learned that the project’s second phase involves the production capacity of 300,000 all-steel radial tyres and officially started construction in March this year. If the second phase reaches capacity, the annual production capacity of Huayi’s Thailand factory will be increased to 1.5 million pieces.

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Related news:

  1. Revenue of Double Coin parent (Huayi) exceeded 10 billion yuan in 2022
  2. Double Coin opens Canada distribution centre
  3. Huayi’s tyre turnover totalled 4.968 billion yuan
  4. Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory
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Revenue of Double Coin parent (Huayi) exceeded 10 billion yuan in 2022

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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).

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Related news:

  1. Huayi’s tyre turnover totalled 4.968 billion yuan
  2. Double Coin opens Canada distribution centre
  3. Jiangsu General investing US$300 million in Thailand tyre plant
  4. ZC Rubber expanding PCR capacity to meet growing domestic demand
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Sailun rising: China’s listed tyre companies ranked in 2022 Q3

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Sailun

Based 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.

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Related news:

  1. The top 10 listed Chinese tyre companies 2022
  2. Chinese listed tyre companies release third-quarter results
  3. Show review: Reifen China 2014
  4. Chinese tyre makers off-shoring in Southeast Asia
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Huayi’s tyre turnover totalled 4.968 billion yuan

On 30 August 2022, Shanghai Huayi, the parent company of Double Coin Tire Group first half results showing the company generated revenue of 4.968 billion yuan (about £614 million, 719 million euros), and operating costs were 4.559 billion yuan (about £564 million, 660 million euros). Within that, the revenue of all-steel radial tyres and semi-steel radial tyres was 4.6 billion yuan (about £569 million, 666 million euros) and 368 million yuan (roughly £45.51 million, 53.25 million euros).

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Related news:

  1. Jiangsu General investing US$300 million in Thailand tyre plant
  2. Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory
  3. China’s GS Tire raises Cambodia investment to $300 million
  4. Guizhou Tyre reports increased production and sales
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The top 10 listed Chinese tyre companies 2022

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Mylene2401; Pixabay

Chinese 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.

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Related news:

  1. Chinese tyre makers off-shoring in Southeast Asia
  2. Serbia open for business
  3. Show review: Reifen China 2014
  4. ZC Rubber still number one tyre manufacturer in China 
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Double Coin opens Canada distribution centre

Huayi, which trades under the Double Coin brand name has established Huayi Tire Canada in Vancouver, British Columbia. According to reports, the location reduces delivery times for the firm’s truck and bus and OTR tyres.

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Related news:

  1. Double Coin Thailand up to speed
  2. Inter-Sprint to Market Double Coin Truck Tyres
  3. Hankook Opens Second Canadian Distribution Centre
  4. Conti signs North American deal with TravelCenters
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