Pirelli is an Italian tyre manufacturer with a century-long history. Currently, China National Chemical Corporation (ChemChina) holds a 37% stake in it, a shareholding relationship that began with the strategic cooperation agreement reached between the two parties in 2015. At that time, ChemChina became a major shareholder of Pirelli through acquisition, aiming to expand into the Asian market and increase its global business scale. However, in recent years, due to geopolitical factors, the Italian government has demanded that ChemChina reduce its stake, posing challenges to the cooperation between the two sides. It invests 4% of its sales revenue in technological research and development and has established multiple R&D centers around the world. The current equity dispute mainly involves international political and economic factors and does not affect Pirelli's tyre technical standards or market supply.
