Linglong Tire achieves all-time record share price
Shandong Linglong Tyre Company’s share price reached a record high of 53.80 yuan on 10 February 2021 just before the Chinese New Year. The price drew back in the days afterwards, but the peak represents an all-time high for Linglong that is over 40 per cent higher than the company’s previous record of 38.18, which was set on 22 July 2016.
Commenting at the end of 2020, shortly before Linglong hit its share high, company representatives spoke of the tyre manufacturer’s resilience: “On a macro-scale, the automobile industry has taken a significant hit thanks to the COVID-19 pandemic which hampered the outputs of factories in not just China but also Europe. In response to the new economic conditions, Linglong made adjustments to their business in order to maximise their profits. The sales team analysed the overall market sentiment and made the necessary adjustments to their sales prices in order [to] win more market share. ”
Linglong has been adhering to its current international development strategy and continued to plan its global production capacity layout for the past ten years. In 2020, Linglong established a “6+6” global strategy, which means to develop its global production capacity layout to six China-based factories and six non-China-based factories. The six factories outside China include a Thai factory that started production in 2014 and another comprehensive factory in Serbia that “will soon be put into production”.