Brand is the soul of an enterprise's existence and development. With the rise of China's manufacturing industry, many Chinese companies have shown their soft power and gained favor with brand value, turning crisis into opportunity and achieving growth against the trend. In the tire industry, some national brands are also rising and moving towards the global high-end with their own strength.
Recently, the National Bureau of Statistics released China's rubber tire cover output in April 2024, and the overall output hit another good record at last year's high growth level.
According to data released by the General Administration of Customs of China on May 18, in the first four months of 2024, China's rubber tire exports reached 2.86 million tons, a year-on-year increase of 5.6%; the export value was 50.6 billion yuan, a year-on-year increase of 7.1%.
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".