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Sailun ranks among the Top 20 tyre manufacturers in the world. Sailun has established modern tyre manufacturing plants in China (Qingdao, Dongying, Shenyang) and Vietnam, and set up sales networks and logistics centers in North America, Europe, Australia, Asia and other regions to service markets around the globe. With total manufacturing capabilities of more than […]
On 2 March 2023 the Department of Industry and Information Technology of Shandong Province stated that it agreed to Zhucheng Yong’an Rubber Technology (Yong’an Rubber) to undergo a “capacity replacement” at its tyre production facility. The company in Zhucheng, Weifang, plans to dismantle the production capacity of 300,000 all-steel radial tyres and 5.46 million semi-steel radial tyres and launch a project with an annual output of 70,100 tons of OTR tyres. The Chinese government calls this behaviour “capacity replacement”, meaning that a company must withdraw its equivalent production capacity if it wants to build a new project. Tyrepress’ sister website, Tyrepress China notes that Yong’an Rubber had undergone bankruptcy and reorganisation in 2020-21, having been acquired by Sailun.
On 18 January, Sailun Group announced an 833-million-yuan (£99.63 million) investment to upgrade OTR tyre production at its plant in Qingdao, China. The upgrade will allow Sailun to produce OTR tyres in sizes up to and including 49-inch. The tyre maker intends to complete this upgrade and adjust its production portfolio within a period of ten months.
On 30 December 2022, Sailun held a general meeting of shareholders to elect members of the sixth board of directors. Liu Yanhua was elected chairwoman of the tyre manufacturer, and Xie Xiaohong became president of Sailun. Liu Yanhua’s resume shows that she worked in two accounting firms before coming to Sailun. Prior to being elected as the chair, Liu Yanhua was the vice chairwoman, executive vice president and chief financial officer of Sailun.
In order to prevent the spread of the Covid-19 virus, China has divided the entire country into two areas: high-risk areas and low-risk areas. When the Covid-19 infection is found in a particular place, the government labels it as a “high risk” area and implements stricter epidemic prevention policies. On 4 December 2022, the Sailun Dongying factory was listed as a high-risk area. A day later, on 5 December the local authority adjusted the tyre factory to a low-risk area.
On October 27, Sailun held a board meeting and decided to cancel the wholly-owned subsidiary Sailun Tire International Corp (Sailun International). Sailun International’s registered capital is US$1 million, and its registered address is in the British Virgin Islands. The business scope of this subsidiary includes import and export trade, warehousing and distribution, and project investment. Sailun stated that Sailun International’s cancellation would neither significantly impact the company’s overall business nor harm its and its shareholders’ interests.
Based on stock market reporting for the third quarter of 2022, the top nine Chinese listed tyre companies ranked by revenue are Sailun, Linglong, Triangle, Huayi (the holding company of Double Coin), Guizhou Tyre, Sentury, Aeolus, Jiangsu General, and Doublestar. (The leading Chinese tyre company according to Tyrepress global rankings is ZC Rubber (Hangzhou Zhongce), but it is not listed.) The figures show that Sailun has completed a meteoric rise this year to become the Chinese tyre industry’s stock market leader, with an income of more than 6 billion yuan in the quarter, putting it within reach of the global top 10 tyre manufacturers.
In the first half of 2022, Sailun Group’s operating income rose 21.28 per cent year-on-year to a record high of CNY 10.493 billion (£1.29 billion). Net profit attributable to the listed company’s shareholders rose 1.6 per cent year-on-year to CNY 715 million (£87.63 million), and net cash flow from operating activities amounted to CNY 457 million (£56.91 million), up 42.15 per cent year-on-year.
The China Securities Regulatory Commission reviewed and approved Sailun’s convertible bond public issuance application on 13 September. The tyre company plans to raise about 2 billion yuan (about 250.2 million pounds, 286.3 million euros), mainly for constructing two factories in Vietnam and Cambodia. Sailun said that investing in two overseas factories could further expand its tyre production capacity overseas and increase its manufacturing scale and market share.
Macrolink Group, a significant shareholder of Sailun, recently received a civil ruling from the court in Beijing. The document shows that the court has accepted the reorganisation application filed by Hunan Fortune Group against Macrolink Group. It is reported that the cause of this incident was that Macrolink Group failed to pay off its due debts, and Hunan Fortune Group was the creditor.
On 20 July 2022, the launch ceremony of the Advanced Polymer and Metal Materials Industrial Park in Qingdao City, Shandong Province was held. Tyrepress noted that among the seven projects that started construction, the Functional New Material Industrial Park belonging to the National Engineering Research Center for Rubber and Tire (NECRAT) was included.
The recent news that Sailun Tyre plans to invest 17.48 billion yuan in setting up two factories in Dongjiakou, Qingdao, has received widespread coverage in Chinese media. The investment in the tyre factory is 15.18 billion yuan, involving 20 million sets of semi-steel radial tyres, 10 million sets of all-steel radial tyres, and 150,000 tons of OTR tyres. The investment in the 500,000-ton new material factory is 2.302 billion yuan. Sailun’s various production bases will mainly use the material factory’s products. According to Sailun’s calculations, the Dongjiakou tyre factory will achieve 21.9 billion yuan revenue and 2.96 billion yuan profit yearly. The annual turnover of the material factory is 12.035 billion yuan, and the average annual net profit is 923 million yuan.
Sailun Tire Americas is planning to open a US technical centre in Chattanooga, Tennessee, USA that will develop tyres for passenger, light truck, SUV, CUV and medium truck tyres applications as well as tyres for electric vehicles. Tyre developed there will ultimately end up at both OE and replacement destinations.
On 24 June 2022 Sailun decided to invest 15.18 billion yuan in building a new tyre factory in Dongjiakou, West Coast New District, Qingdao City, Shandong Province. The planned annual production capacity is 20 million sets of semi-steel radial tyres, 10 million sets of all-steel radial tyres and 150,000 tons of OTR tyres. At present, the Sailun board of directors has passed this investment proposal.
It doesn’t suffice for a product to be sustainable. The processes used to manufacture this product must be sustainable, too. This is the thinking behind EcoPoint³, the innovation in compounding technology that Sailun Group highlighted during The Tire Cologne. Arriving soon in tyres sold in the UK and Europe, EcoPoint³ results from more than a decade of development.
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