On May 15, local time in Mexico, the semi-steel radial tire project with an annual output of 6 million units, a joint venture between Sailun Group and Tire Direct (Hereinafter referred to as "TD Company") of Mexico, held a groundbreaking ceremony in Irapuato, Guanajuato, Mexico.
Guangrao County is an internationally renowned tire capital. As economic development enters the new normal, it has faced the pain of transformation and development. To this end, Guangrao County has accelerated the implementation of the conversion of old and new driving forces, supported enterprises in carrying out "reborn" technological equipment transformation, and gradually explored a high-end, intelligent, branded and large-scale sustainable development path.
Recently, Chairman Jin Yongsheng and CEO Omar Saeed of Service Long March Tire visited Pakistani Prime Minister Muhammad Shahbaz Sharif and thanked the government for its support to the tire industry.
Karamay City, Xinjiang, with its rich resource advantages, outstanding policy advantages, convenient location advantages, and superior business environment, has become a key area for investment by many tire companies in recent years.
Recently, China's listed tire companies have released their 2023 performance reports and revenue and profits in the first quarter of 2024, once again refreshing the latest rankings in the tire industry.
On the evening of April 25, General Science (SH.601500) released its first quarter report for 2024. The company achieved operating income of 1.443 billion yuan in the first quarter of 2024, a year-on-year increase of 37.58%; the net profit attributable to shareholders of listed companies was 153 million yuan, a year-on-year increase of 1270.57%. Development has entered the "fast lane" and achieved a "good start".
As one of the regions with the fastest growth rate of tire imports in the world in recent years, the Middle East has received widespread attention from the industry. Many tire companies have targeted this market and announced plans to invest in and build factories.
The latest data from the National Bureau of Statistics shows that China's rubber tire casing output in March 2024 was 96.913 million units, a year-on-year increase of 4%. From January to March, China's cumulative output of rubber tire casings was 254.267 million units, a year-on-year increase of 12.7%.
The global market is changing rapidly, and the automotive industry is accelerating its iterations. After the first outbreak between 2010 and 2015, Chinese automobiles have entered a high-growth cycle again since last year, in other words, the second round of outbreak of Chinese automobiles has arrived.