Wanli Tire IPO Application Accepted, Plans to Raise 2 Billion for Factory Construction

On June 23, 2026, Wanli Tire Co., Ltd.'s IPO application for the Shenzhen Stock Exchange Main Board was officially accepted, with CITIC Haitong Securities as the sponsor. This largest radial tire enterprise in South China has officially entered the A-share review process, planning to raise 2 billion yuan, focusing on overseas base construction and intelligent capacity upgrade.

Steady Performance, Three-Year Revenue Exceeds 18.6 Billion

The prospectus shows that Wanli Tire has maintained steady growth in performance over the past three years. From 2023 to 2025, the company's operating revenue reached 5.588 billion yuan, 6.022 billion yuan, and 7.028 billion yuan respectively, with a compound annual growth rate of 12.14%; net profit attributable to owners was 398 million yuan, 417 million yuan, and 419 million yuan respectively, with profitability continuously strengthening.

As an enterprise actually controlled by the Guangzhou Municipal SASAC, Wanli Tire currently owns three major production bases in Conghua, Guangzhou; Hefei, Anhui; and Cambodia, producing 39.2 million radial tires annually. Among them, the Conghua base has built the largest single-plant semi-steel radial tire factory in the country. According to the 2025 Global Tire Top 75 list, Wanli Tire ranks 41st globally and 17th among Chinese mainland enterprises.

Focusing on the New Energy Track, Equipping 15 OEMs

In the new energy vehicle tire niche track, Wanli Tire possesses a first-mover advantage. According to certification by the China Rubber Industry Association, the company's new energy vehicle dedicated tire sales rank in the top three among domestic tire enterprises. Currently, the company has successfully equipped 15 OEMs including BYD, GAC, Dongfeng, Chery, and others, with cumulative sales exceeding 3 million units. For the GAC Aion N60 launched in April 2026, Wanli Tire was the only invited tire enterprise for exclusive equipping.

Raising 2 Billion for Factory Construction, Building a High-Resilience Global Supply Chain

For this IPO, Wanli Tire plans to raise 2 billion yuan, investing in five major projects, including the highly anticipated new Cambodia factory project, the Malaysia high-performance green rubber tire production base construction project, as well as the Conghua base Phase III expansion and R&D center upgrade project.

In recent years, the proportion of Wanli Tire's export revenue has consistently exceeded 50%. Through the implementation of this fundraising investment project, the company can not only expand and upgrade production equipment to achieve a leap in production capacity and R&D capabilities; on the other hand, it will accelerate the layout of overseas bases such as Cambodia and Malaysia, respond more efficiently to overseas customer needs, reduce logistics costs, and build a risk-resistant and high-resilience global supply chain system.

Starting from introducing US Firestone technology in 1988, to knocking on the door of the Shenzhen Stock Exchange today, Wanli Tire has completed a leapfrog from following technology to industry leadership in 38 years. This time, accelerating going global and new energy layout with the help of capital power will inject strong momentum into its journey towards the "10-billion tire" strategic goal.