Double Coin is increasing PCR production capacity

Recently, Huayi Group announced its 2023 results. Double Coin, which is responsible for the company’s tyre business, reported 2023 revenue of 10.184 billion yuan (approximately £1.1 billion; €1.3 billion), a year-on-year increase of 1.64 per cent per cent. Throughout the year, the company produced 14.509 million tyres and sold 14.874 million tyres, an increase of more than 10 per cent from the previous year.

In 2023, Double Coin’s production capacity remained stable. Annual report information shows that the second phase of the company’s Anhui factory semi-steel radial tyre project started at the end of 2023 and is expected to be constructed and put into production in 2024. The second phase of the Double Coin Anhui factory project involves 3.6 million semi-steel radial tyres.

Increases in production capacity also include production lines in Thailand. Huayi Group said it had “increased production by 300,000 units through research and development projects, expanded production by 300,000 units, and increased production capacity by a total of 600,000 units”.

Data from Huayi’s annual report shows that Double Coin currently has five factories: three Chinese factories in Jiangsu, Chongqing, and Xinjiang and one Thailand factory producing TBR products, with a total designed production capacity of 9.85 million units. The factory in Anhui, China, produces PCR products and now has an annual production capacity of 5 million to 6 million units.