Gu Zhifu becomes the new director of Triangle
After Xiong Shunmin resigned, Triangle’s board of directors elected Gu Zhifu as a new member of the Strategic Development Committee.
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Triangle’s net profit fell sharply in the third quarter
Triangle’s third-quarter report shows its net profit from July to September fell sharply. In the third quarter of 2024, Triangle’s revenue was 2.61 billion yuan (about £290 million; €340 million), a year-on-year decline of 2.49 per cent; the tyre manufacturer’s net profit attributable to shareholders of listed companies was 270 million yuan (about £30 million; €35 million), a decline of 39.59 per cent.
Russian winter tyre buyers favouring Nokian Tyres, Triangle
Despite no longer manufacturing or even officially selling its products within the country, Nokian Tyres remains Russia’s best-selling brand of studded winter tyres. Statistics from major e-commerce platform Avito for September 2024 show that Nokian Tyres holds a 19 per cent share of this particular market segment, more than double the eight per cent share held by Pirelli. Ikon Tyres, the brand now produced in the former Nokian Tyres plant in Vsevolozhsk, holds a seven per cent stake in the studded winter segment. Cordiant and Michelin each hold a five per cent share.
Triangle board member resigns
Triangle board member Xiong Shunmin has resigned for personal reasons. After resigning from being director and a member of the board’s strategic development committee, Xiong Shunmin no longer holds any position at the tyre manufacturer and its holding subsidiaries.
Shandong builds two tyre industry clusters, Peninsula and Lubei
The Shandong authorities have presented a 2024-2027 action plan designed to improve the productivity of the tyre industry in its jurisdiction.
Tyrepress China found that Shandong Province is trying to build two tyre industry clusters, Peninsula and Lubei, accounting for more than 80 per cent of the province, with revenue of 60 billion yuan and 80 billion yuan, respectively.
Triangle’s sales fell 6.1% in the first half of 2024
In the first half of 2024, Triangle achieved revenue of approximately 5 billion yuan (roughly £535 million; €635 million), a decrease of around 200 million yuan from the same period in 2023. Net profit attributable to shareholders of listed companies increased by 0.67 per cent year-on-year to 612 million yuan (approximately £65 million; €78 million). However, after deducting non-recurring gains and losses, the company’s net profit fell by 3.23 per cent year-on-year. And it is worth noting that cash flow declined by 49.93 per cent compared with the first half of 2023.
Continental PremiumContact 7 tops What Car? tyre test
Hankook Ventus S1 evo3 SUV gave it a run for its money, but Continental’s PremiumContact 7 recently won the What Car? With a weighted score of 86 per cent, the PremiumContact 7 was one percentage point ahead of the second-placed Hankook Ventus S1 evo3 SUV (85%). Michelin’s Primacy 4+ rounded off the podium, albeit some way back, with a weighted score of 71 per cent. The test also considered a number of tyres outside the premium stable. Interestingly, What Car? ranked Triangles EffexSport TH202 ahead of the GT Radial FE2 SUV and the Landsail LS588 SUV.
Doublestar tops 2024 China tyre brand influence list
Several Chinese research institutions recently jointly released the “2024 China Brand Influence Index Report”. In the report’s “Top 10 Tyre Brand Influence” list, Doublestar ranked first.
Top Chinese Tyremakers: Manufacturers ranked by tyre production capacity in 2023
In 2023, Linglong’s various factories had a production capacity of 91.34 million tyres. Including the production of PCR products at the Serbian factory, in 2025 the tyre manufacturer’s annual production capacity will likely exceed 100 million tyres. Linglong’s tyre production base in Zhaoyuan, Shandong, has an astonishing production capacity of 36.1 million sets, including 30 million PCR, 5.85 million TBR, and 250,000 OTR tyres. The Dezhou base in Shandong has capacity for 9 million PCR and 3.2 million TBR tyres a year. The Guangxi production base can make 11 million PCR (1 million more than the designed capacity), 2 million TBR, and 140,000 OTR annually. The Hubei production base has capacity for the construction of 9 million PCR and 2.4 million TBR tyres. That opeartion’s designed PCR capacity is 12 million, and further under-construction capacity is expected to be completed in 2024. The Jilin production base can make 1.5 million PCR and 1 million TBR tyres. The company said that the capacity of the Jilin factory’s PCR production lines is expected to reach 6 million tyres a year in 2024. The company’s planned two production bases in Shaanxi and Anhui have not yet released their production capacity in 2023. The Thailand factory has 13 million PCR and 2.2 million TBR among overseas factories. Linglong said that its Thailand factory reduced its PCR production capacity by 2 million in 2023. The Serbian factory achieved a production capacity of 800,000 TBR tyres in 2023, and the designed scale of 1.6 million tyres is expected to be completed in 2024.
Overseas business supports sales of Chinese listed companies in 2023
In 2023, the overseas market has become essential for Chinese-listed tyre companies to increase revenue and profits. According to statistics from Tyrepress China, the overseas revenue of Sentury, Sailun, Jiangsu General, Prinx Chengshan, Triangle, and Doublestar in 2023 was higher than revenue in the Chinese domestic market. Aeolus, Linglong, and Guizhou Tyre have higher domestic market revenue.
Demand overtaking supply: Triangle Europe’s contribution to the global picture
Triangle Tyre Europe introduced EffeX SUV and EffeX Winter tyres at The Tire Cologne, products that build on the growing portfolio of latest-generation tyres that are designed to defy expectations in the marketplace. Tyres & Accessories spoke with European general manager, Corrado Moglia, and UK sales director, Steve Eke, and learnt more about how demand is outstripping supply, indeed the international business of the European business plays a strategic role in the overall Triangle global operation, which arguably punches above its weight in the global context.
RH Claydon and Triangle Tyre’s 144 m2 Hillhead 2024 booth
Triangle Tyre and RH Claydon will exhibit together from 25 to 27 June at Hillhead Quarry in Buxton, the UK’s largest quarrying, construction, and recycling exhibition. According to the company, Triangle Tyre Co., Ltd is the fourth largest tyremaker worldwide when it comes to radial OTR tyres. Established in 1953, R.H. Claydon is the official distributor of Triangle OTR tyres in the UK. RH Claydon and Triangle Tyre are hosting customers on a 144 square metre stand.
Autonomy, connectivity & tyres – Hillhead 2024
More than a dozen tyre-related firms are amongst the 600 or so exhibitors committed to participating in this year’s Hillhead show. Visitors will have the opportunity to meet with representatives from manufacturers, distributors and accessories/consumables suppliers, and get to see their latest ranges in a unique location.
Triangle Tire’s Europe and Middle East sales grew rapidly in 2023
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.
High quality exhibits and wide range on-show as GRTAE opens in Shandong
GTRAEThe 14th GuangRao Rubber Tire and Automotive Accessory Exhibition (GRTAE) opened in Dongying City, GuangRao County, Shandong Province, China today. First impressions and the facts released by organisers during the official launch conference, which also included speeches from local officials responsible for the leadership of relevant civic departments, there are some 550 exhibitors here presenting their tyre-related latest offerings to as many as 80,000 visitors.essions and the facts released by organisers during the official launch conference, which also included speeches from local officials responsible for the leadership of relevant civic departments, there are some 550 exhibitors here presenting their tyre-related latest offerings to as many as 80,000 visitors.
