China Wanda Group, the parent company of Shandong tyre manufacturer Wanda Boto, has become the controlling shareholder of Shenghang Group. Li Taoyuan, the former controlling shareholder and actual controller of Shenghang Group has signed a share transfer agreement and a voting entrustment agreement with China Wanda Group.
From 29 November to 2 December 2023, the National Exhibition and Convention Center (Shanghai) hosts the 18th instalment of Automechanika Shanghai. The show will span over 300,000 sqm, a 36 per cent increase compared to the previous edition. 5,652 exhibitors (up 71 per cent increase from the previous edition) and buyers from around the world will meet to discuss cooperation. Indeed, the organisers report that visitor pre-registration has already overtaken previous records from the 15th edition.
In early September, the 18th China International Tire Expo (CITExpo 2023) was held in Shanghai. After three years of waiting, this year’s show attracted many dealers from overseas. An exhibitor from Jiangsu General told Tyrepress China: “The results of this year’s China International Tire Expo are quite good. We made appointments with 60 customers before the exhibition. Basically, all of them came. At the same time, we also met many new customers at the exhibition today.” At the popular CITExpo 2023, Tyrepress China noticed that China’s tyre industry is showing two new trends: recovery and transformation.
Recently, several tyre manufacturers have released recruitment information, which is not enough to be strong evidence that China’s tyre industry is gradually recovering. However, the recruitment information shows that some Chinese tyre companies have not hesitated in the challenging environment.
In September 2018 Shandong Wanda Boto Tyre Co Ltd was invited to display some of its advertising on the NASDAQ screen in the world-famous Times Square in New York, USA.
Malaysian news site Utusan Online reports the signing of a Memorandum of Understanding between Chinese tyre maker Shandong Wanda Boto Tyre Co. Ltd. and government agency the Malacca State Development Corporation (PKNM). The MoU, signed on 11 April, will see Wanda Boto invest Rm 1.2 billion (£213.5 million) to set up a tyre factory in Lipat Kajang, near the town of Jasin, some 100 miles southeast of Kuala Lumpur. The plant is expected to be operational by mid-2018.
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Andreas Felske; Unsplash