ZC Rubber offers IPO update, Thailand factory supports profit in 1H 2022
ZC Rubber’s revenue reached 15.2 billion yuan in the first half of the year. Based on those numbers, the tyre manufacturer’s revenue in 2022 could exceed the levels achieved in 2021 (Photo: ZC Rubber)
Hangzhou Zhongce Rubber Co. Ltd (ZC Rubber) recently issued an update on the progress of its initial public offering (IPO). According to the data, Zhongce Haichao (a company established by four local Hangzhou enterprises in 2019 in order to invest in ZC Rubber, namely Hangzhou Great Star Industrial Co., Ltd., Hangcha Group Co., Ltd., Juxing United Holding Group Co., Ltd., and Hangzhou Haichao Enterprise Management Partnership (Limited Partnership) holds 41.08 per cent of the tyre manufacturer’s shares and is the company’s controlling shareholder. Qiu Jianping and his daughter Qiu Fei hold 46.95 per cent of the shares and corresponding voting rights of ZC Rubber through Zhongce Haichao and several other companies and therefore control ZC Rubber.
Giti Tire
Kelly Sikkema; Unsplash
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