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.

On the evening of June 11, the Chinese tire industry leader Zhongce Rubber (603049.SH) officially announced the implementation of the 2025 annual equity distribution plan, and will distribute a cash "big red envelope" exceeding 1.25 billion yuan to all shareholders.

Dividend of 1.43 yuan per share, encouraging long-term value investment

The announcement shows that this profit distribution is based on the company's total share capital of 874,485,598 shares, with a cash dividend of 1.43 yuan per share (tax included), totaling 1.251 billion yuan distributed, with a dividend payout ratio of 30.15%. In terms of timing, the record date is set for June 17, 2026, and the ex-rights (ex-dividend) date and cash dividend payment date are both June 18.

Regarding tax withholding rules, the company strictly implements differentiated policies to encourage long-term investment: for individuals and securities investment funds holding for over 1 year, dividend income is temporarily exempt from individual income tax; for holdings of 1 month to 1 year (inclusive), the actual tax burden is 10%; for holdings within 1 month (inclusive), the actual tax burden is 20%. For QFII and Shanghai Stock Connect investors, income tax is withheld and paid at a rate of 10%, resulting in an actual payment of 1.287 yuan per share after tax.

Three years of consecutive performance growth, high dividend confidence is solid

The large-scale dividend stems from solid performance support. In 2025, Zhongce Rubber achieved operating revenue of 44.956 billion yuan, a year-on-year increase of 14.52%; net profit attributable to parent company was 4.147 billion yuan, a year-on-year increase of 9.51%; basic earnings per share was 4.95 yuan.

As the absolute leader in the domestic tire industry, Zhongce Rubber has maintained a tradition of high dividends in recent years, launching a plan to distribute 13 yuan for every 10 shares in 2024. From 2023 to 2025, the company's revenue and net profit grew steadily for three consecutive years, profitability was continuously consolidated, providing solid support for high dividends.

Digital intelligence empowerment and global capacity expansion in parallel, building a growth engine

Behind the high dividends is the strong momentum of Zhongce Rubber's dual drive of digitalization and globalization. Founded in 1958, the company owns well-known brands such as Chaoyang, Weishi, and Haoyun. In terms of smart manufacturing, the company partnered with Huawei to create an F5G-A all-optical factory demonstration project, honored with the national-level energy efficiency "Leader". In terms of the market, the company successfully entered the supply chain for the AITO M6 new energy vehicle, expanding its market footprint.

The globalization layout has also yielded substantial results. In 2025, the company's overseas revenue share reached 47.86%. Currently, Thailand and Indonesia bases are steadily increasing production; the 1.041 billion yuan investment in the Vietnam base is proceeding smoothly; the planned 500 million USD Mexico base is also under construction. Overseas capacity release will effectively avoid trade barriers, consolidating global competitive advantages.

Rewarding shareholders with substantial dividends and leading the future with innovative smart manufacturing and overseas layout. Zhongce Rubber is demonstrating the responsibility of an industry leader, expected to continuously accelerate high-quality development on the global track, creating long-term value for investors.

May26, Cheng Shin Rubber convened a shareholders' meeting to comprehensively reelect directors. The new board of directors is composed of family members of founder Luo Jie and senior professional managers, Luo Jie's second sonLuo Cairunresumed the position of Chairman of Cheng Shin, while General Manager is taken on by Luo Yuanlong, the third generation of the Luo family.

Former Chairman Chen Ronghua continued as a director, former General ManagerLi Jinchangpromoted to Vice Chairman, marking that the Cheng Shin management team has achieved a smooth handover, the second and third generation succession echelon of the Luo family is officially in place.

Observers note that Luo Cairun has long deepened his roots in the business front line, having served as General Manager and Chairman of Cheng Shin Rubber (China), leading the construction and operation of important production bases such as Kunshan. Regaining the Chairman's position this time, industry experts believe this will help lead Cheng Shin in the global volatile trade environment to precisely consolidate overseas core markets.

Newly appointed Vice Chairman Li Jinchang, based on professional technical and manufacturing experience, promoted from General Manager to Vice Chairman. He possesses complete production, Chongqing and China Regional General Manager practical experience in Cheng Shin Group, contributing significantly particularly to factory intelligent transformation, production line efficiency improvement, and cost control.

New General ManagerLuo Yuanlongas a third-generation member of the Luo family, will inject innovative vitality after joining the management team. He has worked within the company for many years, having served as Cheng Shin Chief Operating Officer, Deputy General Manager, etc., actively participated in sales and marketing, and is responsible for corporate sustainability affairs.

His assumption of the General Manager role not only demonstrates that Cheng Shin's third-generation succession plan has entered a new stage, but also is expected to introduce young new ideas such as digitalization and green environmental protection to the traditional rubber industry.

Cheng Shin has long maintained healthy and stable financial performance. According to recent announcements, surplus repatriation cases from its important subsidiaries such as Cheng Shin Rubber (China) and Xiamen Cheng Shin Rubber totaled cash dividends repatriated of approximately RMB 1.05 billion.

At the same time, Cheng Shin is accelerating layout in India and Indonesia, and has entered the European high-end automotive supply chain. The subsidiary brand Maxxis continues to deepen cooperation with global car factories, products are already equipped with BMW Germany original plant Series 1, Series 2 sedans,BMW GroupMINI series cars, as well as multiple new vehicles from Volkswagen made in Germany.

The "7+5" global strategy Linglong Tire (601966.SH) once highly anticipated is facing a complete stall. In May 2026, within a mere 5 days, Linglong Tire successively announced the termination of two new projects, Tongchuan, Shaanxi and Brazil. Coupled with the suspension of the Anhui project, the company's expansion faces heavy obstacles. Linglong Tire pledged: by 2030, achieve a production and sales volume of 160 million tires, with sales revenue exceeding 80 billion yuan, aiming for a production capacity scale among the top five in the world. It seems now that these goals for Linglong Tire are far off.

Striving for production and sales volume to reach 160 million tires

On April 28, in its released 2025 Annual Report, Linglong Tire stated, "We will continue to firmly promote the '7+5' global strategic layout, relying on international production bases, partner with global partners, commit to upgrading product quality, lean supply chain management, and breakthroughs in technical innovation, jointly promoting the coordinated development of the industrial chain, and actively building an open, diverse, and inclusive cooperation ecosystem."

For over 6 years, Linglong Tire's "7+5" global strategy has undergone "upgrades," but now it seems it might face "bankruptcy."

In March 2020, Linglong Tire released the Outline of Mid-to-Long-Term Development Strategic Plan (2020-2030). The outline clearly pointed out that with the continuous expansion of Linglong Tire's business and the company's scale, the company's previous "5+3" development strategy could no longer meet the company's development needs. To promote localization of manufacturing, sales, and services, get closer to users and the market, segment the market, and increase market share, implement "6+6" development strategy, that is: six domestic production bases, six overseas production bases, breaking through 160 million units of tire production capacity by 2030.

At that time, Linglong Tire already owned four production bases in Zhaoyuan, Dezhou, Liuzhou, and Jingmen domestically.

In June 2021, Linglong Tire changed the original "6+6" strategy to "7+5" strategy, with the Tongchuan, Shaanxi base project approval.

On December 14, 2021, Linglong Tire's fifth base in China and seventh globally—Jilin Linglong Tire Co., Ltd. Phase I all-steel first tire off-line ceremony was held in Changchun.

At the same time, Linglong Tire's two major planned domestic production bases are in Tongchuan and Hefei. Moreover, Linglong Tire already owns two overseas bases in Thailand and Serbia, and is planning and constructing a third overseas factory in Brazil.

The overall goal of the "7+5" strategy has not changed, that is, planning to reach a production and sales volume of 160 million tires by 2030, with sales revenue exceeding 80 billion yuan, and a production capacity scale aiming for the top five in the world.

Tongchuan Project Terminated

However, more than four years have passed, and Linglong Tire's "7+5" strategy not only did not advance further, but it is possible to "bankrupt."

In June 2021, an announcement by Linglong Tire showed that the Tongchuan project with an annual production capacity of 15.2 million sets of high-performance radial tires and 500,000 sets of retreaded tires had a total investment of 6.066 billion yuan.

Among them: construction investment 5.46 billion yuan, construction period interest 517 million yuan, working capital 88.6929 million yuan. Regarding funding raising, the company self-raised 2.466 billion yuan, bank loans 3.6 billion yuan.

However, in mid-2025, Linglong Tire introduced that the Shaanxi Tongchuan investment construction project had completed preliminary approval work, land tendering and auction, and factory design work. Currently, the project has not officially started due to the external "seven connections and one leveling" work not meeting engineering construction requirements.

On the night of May 22, 2026, Linglong Tire received a warning letter showing that in October 2025, the Tongchuan investment project underwent significant changes, and the company failed to disclose in time, violating relevant provisions of the Administrative Measures for Information Disclosure by Listed Companies.

The regulatory department stated that Wang Feng, as Chairman of Linglong Tire and General Manager at the time, and Sun Songtao, as Board Secretary, bore major responsibility for the company's above behavior.

According to relevant regulations, it was decided to take administrative regulatory measures of issuing warning letters against Wang Feng and Sun Songtao, and record them into the Securities and Futures Market Integrity Database.

Linglong Tire stated that for the above issues, the company has taken relevant measures to rectify, and held a Board meeting on May 11, 2026, to review and approve the "Proposal on Terminating the Investment Project in Tongchuan City, Shaanxi Province", which still needs to be submitted to the company's Shareholders' Meeting for deliberation.

Linglong Tire stated that due to the slow progress of preliminary project preparation work and supporting measures failing to land as scheduled, there exists significant uncertainty in the institutional guarantee and expected returns for project implementation.

To optimize resource allocation, after thorough demonstration and prudent analysis by the company, it was decided not to proceed with the above foreign investment project.

Brazil Project Terminated

Only 5 days later, problems arose with Linglong Tire's newly built overseas project.

On the night of May 27, an announcement by Linglong Tire showed that due to the failure to reach an agreement on core terms such as shareholding ratio and cooperation terms with the proposed partner, the Brazil investment construction project no longer has the conditions to advance on schedule.

After comprehensive evaluation, the company decided to terminate the above foreign investment project. Currently, both parties have reached a consensus on termination of cooperation matters, and will proceed with termination work according to their respective internal procedures after completion of relevant deliberations.

Linglong Tire stated that the termination of this investment matter was a prudent decision made by the company based on changes in the market environment, company strategic adjustment, and actual operating situation. The project has not entered into substantial construction investment and will not adversely affect the company's business development and daily operations.

On May 15, 2025, Linglong Tire held the 2024 Annual Shareholders' Meeting, passing the "Proposal on Carrying Out Overseas (Brazil) Investment Construction Project and Cumulative Foreign Investment". The company planned to jointly invest and construct an overseas (Brazil) investment construction project with SUNSET S.A. COMERCIAL INDUSTRIAL Y DE SERVICIOS ("14.7 million sets of various high-performance radial tires per year" and "35MW photovoltaic power station"). The total project investment was 1.193 billion USD (equivalent to 8.71 billion yuan).

A detail worth noting is that at that time, Linglong Tire introduced that according to the construction content, scale, and actual situation of the construction subject of this project, the planned construction period was expected to be 7 years, carried out in three phases, planned to start in the third quarter of 2025, and end for use by the end of December 2032.

Obviously, the Brazil construction project did not start in the third quarter of 2025, but Linglong Tire did not disclose the progress of this project.

The company only stated in the 2025 Annual Report that the Brazil investment construction project is currently in the planning and design phase, while carrying out business negotiations with partners on matters such as shareholding ratio, and has not entered the substantial construction investment phase.

Did Linglong Tire also violate regulations when disclosing the Brazil construction project? A relevant person in a listed company's Board Secretary's Office stated that Linglong Tire didn't tell lies, but told too little and too vaguely, letting investors look at a full year's annual report without knowing the project had "actually failed."

"This is not sustainable at the information disclosure compliance level." Overall, Linglong Tire's two domestic and foreign major projects totaling a proposed investment of 14.776 billion yuan have both ended in failure, and the company's "7+5" strategy is effectively defunct.

Revenue Growth Slowing

Not only were the above two projects, Linglong Tire's project in Anhui also did not go smoothly.

In May 2026, Linglong Tire also announced that the company's project with an annual production capacity of 14.6 million sets of ultra-high-performance self-healing and smart radial tires in Anhui Province was terminated due to insufficient energy consumption indicators, and transferred to build two new projects in Lu'an High-tech Industrial Development Zone, Anhui. Currently, about 140 million yuan has been invested, but only the living area and part of production supporting facilities have been completed, the main workshop is still in the planning and design phase, and the project construction cycle cannot be executed as originally planned.

When new construction projects do not meet expectations, Linglong Tire's 2030 visionary goals seem unlikely to be realized.

In 2023, Linglong Tire's operating revenue increased by 18.58% year-on-year, breaking through 20 billion yuan for the first time to reach 20.162 billion yuan. In 2024 and 2025, the company's operating revenue was 22.058 billion yuan and 24.642 billion yuan respectively, increasing 9.39% and 11.72% year-on-year respectively.

From 24.642 billion yuan growing to 80 billion yuan, Linglong Tire's operating revenue needs to grow by an average of 11.1 billion yuan per year in the next 5 years. Without new capacity release, the company cannot reach this goal.

In Q1 2026, Linglong Tire's operating revenue reached 6.057 billion yuan, increasing 6.33% year-on-year, entering a slow revenue growth period.

In 2025, Linglong Tire's tire product production volume reached 94.2981 million units, sales volume reached 91.3468 million units, inventory volume reached 16.4931 million units.

As of the end of 2025, Linglong Tire's design capacity reached 126 million units, achieved production capacity reached 114 million units, capacity utilization rate was 82.43%.

Obviously, Linglong Tire's production and sales volume reaching 160 million units still has a considerable distance. Under the continuous "blows," Linglong Tire's stock price has continued to probe downward, currently oscillating around 12 yuan per share.

For this reason, on May 21, Linglong Tire announced that the company's controlling shareholder intends to increase holdings in the company's shares, with the increase amount not less than 180 million yuan (inclusive), and not more than 230 million yuan (inclusive).

Recently, Sailun Group has welcomed major progress on both lines of "technology upgrade" and "capacity expansion". On May 21, the technical transformation project of the high-performance tire laboratory of Sailun R&D Technology Center was approved by the Qingdao Municipal Bureau of Ecology and Environment; earlier in April, its project with a total investment of 2.34 billion yuan, "12.6 million sets of high-performance radial tire production per year project", also successfully obtained the environmental impact assessment approval. From meticulous R&D to bold capacity expansion, Sailun is accelerating the leap towards "Global Smart Manufacturing".

Technical transformation empowers, forging R&D "precision". The technical transformation project approved in May, with a total investment of 47 million yuan, will purchase 31 sets of high-end equipment including high-speed uniformity testers, two-station rolling resistance testers, etc. After the project is completed, the annual test sample volume will remain unchanged at 1000, but the detection accuracy and information level will be significantly improved, providing solid data support for high-performance tire R&D.

Decisive moves to create a closed-loop industrial chain. The Dongjiakou radial tire project with annual capacity of 12.6 million sets approved in April, covering about 329 mu, will add more than 1000 sets of key equipment. This project is by no means isolated expansion; its factory area is simultaneously constructing the "500,000 tons of functional new material production per year project". The newly built tire project can directly consume self-produced rubber raw materials, achieving seamless connection upstream and downstream, greatly reducing external purchasing and logistics costs, forming a highly competitive closed-loop advantage. At the same time, the project's environmental protection investment reaches 12 million yuan, customizing refined governance systems for waste gas in different processes, sticking to the bottom line of green development.

The promotion of these two projects is a microcosm of Sailun's global strategy implementation. Currently, Sailun builds a resilient supply network through the dual-wheel drive of "Domestic High-End Manufacturing" and "Overseas Smart Factories": The first all-steel tire came off the line at the domestic Shenyang Xinheping Factory, entering the capacity ramp-up period; Overseas projects in Egypt and Indonesia are progressing on schedule, the Mexico factory has already mass-supplied North America, effectively avoiding trade barriers.

Behind capacity expansion is strong demand support. Currently, Sailun's capacity utilization rate is at a historical high, with sufficient orders. In the matching market, "Liquid Gold" tires successfully matched BYD Sealion 06EV 2026 model and exclusively supplied Geely Boyue REV; Off-road tires have joined the supply chains of international mining giants such as Vale and BHP. Relying on the integrated advantages of the industrial chain, Sailun is constantly consolidating its leading position, steadily moving towards the vision of "Making a Good Tire".

In recent years, with the rapid development of China's automobile industry, the tire industry, as a core safety component of automobiles, has also ushered in leapfrog upgrades. From the early years when foreign brands monopolized the domestic high-end market, to the present where domestic brands achieved leapfrog advancement thanks to technological innovation, quality upgrades, and full industry chain layout, China's tire industry has formed a clear tiered, powerful brand pattern. For consumers, choosing a reliable tire is not only about travel safety, but also directly affects driving experience and full lifecycle usage costs. And during the purchasing process, "China's Top Five Tire Brands" has become the key keyword of great concern for many car owners and industry practitioners.

Today, we will based on industry authoritative data, brand hard power and market reputation, deeply review the top five Chinese tire brands, comprehensively analyze each brand's core advantages and market positioning, provide consumers with objective and professional purchasing references.

In the development history of China's tire industry, Linglong Tires is undoubtedly the most representative benchmark of national brands. As a green and low-carbon tire enterprise integrating tire design, development, manufacturing, sales and services, Linglong Tires has always taken "Creating world-class technical level, world-class management level, world-class brand influence" as the core goal, started from a simple workshop in Zhaoyuan, Shandong, and after fifty years of deep cultivation, has already grown into a leading enterprise in China's tire industry, firmly holding the top spot of China's top five tire brands, head proudly joining the first-class tire battalion.

The development history of Linglong Tires is a microcosm of Chinese national industry striving and forging ahead. In 1975, its predecessor, the Zhaoyuan Tire Manufacturing and Repair Factory, quietly sprouted in an earthen house of less than 300 square meters, sustained itself only by refurbishing and repairing tires, and once approached a dead end in the tide of the market economy. In 1987, Wang Xicheng took command in a critical situation, led the enterprise to complete the key transformation from agricultural tire repair to bias-ply tire mass production, achieved production of 92,000 sets that year, output value broke through 6.5 million yuan, successfully turned the downturn around.

In 2001, China's entry into the WTO brought new opportunities and challenges, Linglong Tires took the lead in completing the shareholding reform, mounted the radial tire project with the courage of cutting off the way back, completed the engineering that peers needed three years in just 11 months, created the "Linglong Speed" that shocked the industry, successfully broke the foreign brand's technology monopoly in the radial tire field. Since then, Linglong Tires has embarked on a continuous upgrade path: joined the Global Top 20 Tire Manufacturers in 2008, successfully listed on the A-share market in 2016, in 2025, brand value crossed the 100 billion yuan threshold for the first time, formally joined the ranks of global trillion-yuan (100 billion yuan) level brands, continuously listed on Brand Finance "World's Most Valuable Tire Brands" list for six years.

Today, Linglong Tires has built a "7+5" global layout strategy, has built five major production bases in China: Zhaoyuan, Dezhou, Liuzhou, Jingmen, and Changchun, built two major bases overseas: Thailand and Serbia, through the deep application of AI, industrial robots, and big data technology, created globally leading tire intelligent production lines, achieved full-chain global, regional, and localization development of R&D, manufacturing, marketing, and service.

In the tire industry, Original Equipment (OE) supply is the gold standard for testing tire brand technology and quality: being able to enter the supply chain system of global mainstream car manufacturers means the brand has passed all dimensions of technology R&D, quality control, supply chain stability, etc., and have passed the harshest tests of the automotive industry. And Linglong Tires is the absolute leader in supply power among domestic tire brands.

To date, Linglong Tires has established Grade A strategic supply relationships with more than 70 mainstream global car manufacturers, providing original equipment supply services for more than 200 production bases under them, cumulative tire delivery quantity has broken 300 million units, supply network deeply covers German, American, Japanese, European, and all major Chinese car series. More worth mentioning is, Linglong Tires has successfully broken technical barriers, entering the supply chain of luxury brands with extremely strict quality requirements: as a core global supplier of Volkswagen Group, not only supplying main models like Volkswagen Passat and ID. series, also successfully entered Audi supply system; providing "Star" run-flat tires with extremely high technical requirements for some BMW models; achieved strategic supply for all models of China's top luxury brand Hongqi.

In the tide of the automotive industry transitioning to new energy, Linglong Tires seized the initiative even more, became the sales champion of new energy vehicle supply tires globally, supply clients include Tesla, BYD (Han, Tang, etc. all core models), Volkswagen ID. series, General Wuling (all series), Hongqi, Leapmotor, Seres, and other global top and mainstream new energy brands, for many years, firmly held the first echelon of China's new energy vehicle tire supply.

In the tire market with strong hands like forests, Linglong Tires' winning tool is always continuous increasing investment in innovation R&D. Over the more than 20 years since 2001, Linglong Tires' R&D expenses accounted for an average of 3%-5% of sales revenue, far exceeding the average level of Chinese and even international tire enterprises, built a "Three Countries Eight Places" global open R&D system, established research branches in Beijing, Shanghai, Jinan, Yantai, Akron USA, Hannover Germany, relying on national recognized enterprise technology centers, national industrial design centers, and nationally recognized laboratories, built China's first large-scale outdoor comprehensive tire test field—Central Asia Tire Test Field, provided top-level hardware support for product R&D and testing.

Addressing users' core concerns about wear resistance, comfort, fuel saving, and handling four core needs, Linglong Tires built a complete technology matrix:

• Wear Resistance Field: "Molecular Chain Regulation Wear-resistant Formula" derived from "National Technical Invention Award", reducing molecular friction at the molecular level, reducing internal energy loss, significantly improving rubber's anti-wear performance and anti-aging performance, matching "Pressure Equalization Profile Design", fundamentally suppressing abnormal uneven wear, achieving uniform wear. • Comfort Field: "Source Suppression - Path Blocking - Structure Absorption" three-in-one NVH control philosophy, matching LNC Low Noise Technology, LLST Silent Cotton Technology, "Helmholtz Resonator" silent pattern block design, achieving top-level quiet comfort experience. • Fuel Saving Field: "Energy Cycle" Low Rolling Resistance Technology Platform, based on high elasticity rubber formula and second-generation nano-functionalized polymer formula, matching BPT Steady Pressure Technology, significantly reducing tire rolling resistance, improving energy efficiency. • Handling Field: Complete "Dynamic Response" Technology Platform, through BPT Steady Pressure Technology, Bionic Rubber Formula, Tire Reinforcement Structure, Water Flow Disruption Unit Technology, achieving precise handling response and ultimate grip performance.

Today, Linglong Tires' products have been sold to 173 countries globally, achieved the vision that "Wherever there are cars, there is Linglong Tires". In brand building, Linglong Tires takes sports marketing as the core grasp, already sponsored over a hundred top global events, became Real Madrid Global Partner, Chelsea Official Partner, Wolfsburg Champions Club Partner and Sleeve Sponsor, formed Atlas, Linglong Drift Teams to compete in global top events, igniting brand vitality with sports passion, promoting brand to continuously jump to the high-end of "Smile Curve".

Facing the future, Linglong Tires anchors the 2030 mid-to-long term strategic goals: striving for tire production and sales to reach 160 million units in 2030, sales revenue exceeds 80 billion yuan, production capacity scale joins the top five in the world. Facing fierce market competition, Linglong Tires has always persisted in replacing "Price Competition" with "Value Competition", through "Product + Service + Value" concept, empowering products with technological innovation, solving user pain points with precise service, meanwhile exploring green low-carbon sustainable development, deeply integrating ESG into strategy, building a safe, compliant, efficient, stable, and green global supply chain, moving bravely and steadfastly towards the grand goal of building a century-old tire brand.

Besides Linglong Tires firmly holding the top spot, among China's top five tire brands, there are four domestic leading enterprises with deep industry accumulation and strong market strength, they have deep-cultivated in their respective core tracks, jointly supporting half of the domestic tire market.

Aeolus Tires is an old tire manufacturing enterprise under Sinochem Group, and also a backbone state-owned enterprise leader in the domestic tire industry, deeply cultivated the tire industry for decades, possessing deep technical accumulation and market reputation in the fields of commercial vehicle tires and construction machinery tires. Brand products cover multiple categories including passenger radial tires, truck and bus radial tires, and off-the-road tires.

Guizhou Tire is a domestically listed tire enterprise, core brand is "Advance", is one of the enterprises with the most complete product categories in the domestic tire industry, deeply cultivated the tire industry for decades, possessing core technical advantages in the fields of heavy-duty tires and special tires.

Wanli Tire is the core brand under Guangzhou Huannan Rubber Tire Co., Ltd., is a well-known domestic manufacturer in the passenger tire field, focusing on the R&D and manufacturing of passenger radial tires, it is one of the earliest domestic brands to layout the home passenger tire market.

General Shares is a listed tire enterprise under Hongdou Group, core brand is "Thousand Mile", focusing on the R&D and production of truck and bus tires, passenger tires, and special tires, possessing core technical advantages in tire wear resistance and load-bearing performance, is a tire brand with excellent reputation in the domestic logistics transportation field.

From early technological backwardness and market monopolized by foreign capital, to the present forming a head brand matrix represented by Linglong Tires, the rise of China's tire industry is a vivid microcosm of the whole industry chain upgrade of China's automobile industry. Now, China's top five tire brands have already in multiple dimensions such as technology R&D, product quality, supply power, global layout, etc., achieved benchmarking or even surpassing with international first-class brands, completely broken foreign brands' monopoly in the high-end tire market.

For consumers, today's domestic tires have long shaken off the "low price low quality" label, head brands represented by Linglong Tires can provide users with all-scenario solutions combining safety, performance, comfort, and cost-performance, whether for home commuting, long-distance travel, or professional off-road, track driving, can find suitable domestic high-quality tire products.

Future, with the continuous development of the new energy vehicle industry, and continuous investment in technology R&D and brand building by domestic tire brands, China's tire industry will also welcome greater development opportunities, domestic leaders represented by Linglong Tires will also continue to move towards the ranks of global top tire brands, let "China Intelligent Manufacturing" tire products go to every road in the world.

Following the release of the "2026 Special 301 Report" by the Office of the United States Trade Representative (USTR) on April 30, 2026, which listed Vietnam as the first "most serious concern" country in 13 years, on May 29, U.S. Trade Representative Jamieson Greer officially announced an investigation into Vietnam's actions, policies, and practices regarding intellectual property protection and enforcement under Section 301 of the "Trade Act of 1974".

This is the third U.S. 301 investigation Vietnam has faced since 2026; previously, the U.S. side initiated investigations against Vietnam citing "overcapacity in manufacturing" and "failure to prohibit imports of forced labor products".

Focusing on the intellectual property field this time, the scope of review covers five major issues including online piracy, counterfeit goods, and border enforcement. According to legal provisions, the USTR must make a decision within 6 months of the investigation launch, no later than November 29, 2026, with a possible extension to the end of February 2027 under exceptional circumstances.

Vietnam Tire Exports Face Dual Pressure

Vietnam's tire industry has become the focal point of this trade friction. In 2024, Vietnam's tire production ranked sixth globally, with approximately 90% used for export, totaling about 4 billion USD in annual export value, with North America being the most important market.

However, in July 2025, the U.S. Department of Commerce launched an annual administrative review of anti-dumping and countervailing duties on five categories of exported products from Vietnam, covering light truck tires.

Since 2021, the U.S. has implemented "double anti" policies on passenger car and light truck tires from South Korea, Thailand, Vietnam, and the Taiwan region of China. Vietnam is the least affected region, with some enterprises having a tax rate of 0%, while others are at 22.30%.

Once the new round of 301 investigations take effect, this relatively favorable situation may be disrupted, leading to Vietnam's tires exported to the U.S. facing additional high tariffs.

Chinese-Invested Tires Face "Origin" Look-Through Review Risks

Currently, several top Chinese tire enterprises including Sailun, Guizhou Tire, Jinyu Tire, Haohua Tire, and Zhongce Rubber have established factories in Vietnam and continued capacity expansion.

Since 2026, Guizhou Tire's Phase III PCR project has completed its first container shipment, Haohua Tire increased its Phase II investment by 400 million USD, and Zhongce Rubber also announced an investment of 1.041 billion yuan to build a new factory in Ho Chi Minh City.

However, the core risk of the 301 investigation lies in the possibility that the U.S. may significantly tighten the criteria for "Vietnam Origin" certification, especially targeting enterprises that heavily rely on Chinese imports for key raw materials (such as rubber additives, cord fabric, and semi-finished tire blanks).

If insufficient processing depth is determined, the U.S. may retroactively levy anti-dumping duties originally targeting Chinese tires. This will directly weaken the tariff advantage of "Made in Vietnam," and even lead to the risk of past years' profits being reversed.

Forcing Vietnam Tire Supply Chain "De-Chinaization"

After the investigation enters the procedure phase, Chinese-invested tire enterprises in Vietnam will face the practical impact of "customs clearance suspension" and order contraction. U.S. importers, to avoid capital occupation and legal risks, may suspend purchases, leading to finished goods inventory backlog at Vietnam factories, decreased capacity utilization, and pressure on cash flow.

In the long term, to pass origin review, enterprises must significantly increase the local procurement rate of Vietnam factories and reduce parts imports from China. This means reconstructing an independent supply chain system in the short term, involving substantial capital expenditure and management costs, posing a severe test for SMEs with tight cash chains.

Global Leaders with Layout Have Stronger Risk Resistance

This 301 investigation will profoundly reshape the competitive landscape of tire enterprises in Vietnam. Small tire factories that only use Vietnam as a "simple assembly point" and lack full-process production lines and complete traceability management systems will face the risk of being cleared out of the U.S. market.

Conversely, top enterprises with a layout at multiple points globally can alleviate losses to Vietnam factories by flexibly allocating orders and transferring supply tasks for the U.S. market to bases not subject to investigation.

Overall, the U.S. 301 investigation on Vietnam is essentially an extension of its trade friction against China in the Southeast Asia region. For Chinese tire enterprises investing in Vietnam, this is no longer a question of "whether it will be affected," but an urgent topic of "how deep the impact is" and "how to respond"!