Departing a profitable market isn’t for everyone: Pirelli & C. reports that Russia accounted for “about 3.5 per cent” of its global revenues of 1,699.7 million euros in the first quarter of 2023, which means the tyre maker Q1 2023 revenues in Russia amounted to approximately 59.5 million. Not a colossal sum when compared with total sales, but nonetheless more than Pirelli made in that market in the first quarters of the two previous years.
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.
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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Sailun
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