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You are here: Home1 / Doublestar

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New Doublestar factory in Cambodia

International News
Doublestar

On 20 February 2023, the board of directors of Doublestar reviewed and approved the proposal to build a factory in Cambodia. The tyre manufacturer reportedly plans to establish a joint venture with UBE Development Co., Ltd in order to complete the plans.

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Related news:

  1. Serbia open for business
  2. Sailun’s Cambodia factory begins tyre production
  3. China’s GS Tire raises Cambodia investment to $300 million
  4. Sailun bond issuance application approved
20th February 2023/by Xuda Wang

Doublestar suffers huge losses

Company News, International News
Austin Diste; Unsplash

At the end of January, three Chinese tyre companies released their 2022 performance forecasts, which show that Aeolus and Linglong are in profit, but reveal huge losses at Doublestar.

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Related news:

  1. Serbia open for business
  2. The top 10 listed Chinese tyre companies 2022
  3. Chinese listed tyre companies release third-quarter results
  4. Sailun rising: China’s listed tyre companies ranked in 2022 Q3
3rd February 2023/by Xuda Wang

Domestic Chinese tyre companies in recruitment drive

International News
Andreas Felske; Unsplash

Recently, several tyre manufacturers have released recruitment information, which is not enough to be strong evidence that China’s tyre industry is gradually recovering. However, the recruitment information shows that some Chinese tyre companies have not hesitated in the challenging environment.

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Related news:

  1. Serbia open for business
  2. The top 10 listed Chinese tyre companies 2022
  3. Sailun rising: China’s listed tyre companies ranked in 2022 Q3
  4. Aeolus and Doublestar both report sharp declines in net profit
7th December 2022/by Xuda Wang

Sailun rising: China’s listed tyre companies ranked in 2022 Q3

Company News, International News
Sailun

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.

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Related news:

  1. The top 10 listed Chinese tyre companies 2022
  2. Chinese listed tyre companies release third-quarter results
  3. Show review: Reifen China 2014
  4. Chinese tyre makers off-shoring in Southeast Asia
2nd November 2022/by Xuda Wang

Doublestar deputy general manager steps down

Company News, International News
Doublestar

Zhang Zhentao, deputy general manager of Doublestar, submitted a written resignation application to the board of directors recently. Doublestar confirmed that Zhang Zhentao is not employed by company following his resignation, but did not disclose where he is working now. Zhang Zhentao is mainly engaged in financial work and has served as the deputy general manager of Doublestar since May 2020. Before that, he was part of the financial management of Tsingtao Brewery.

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Related news:

  1. Doublestar names Antonio Smith as general director for Spain and Portugal
  2. Kumho USA appoints new CEO amidst global reshuffle
  3. Continental Tires (China) appoints general manager
  4. Toyo Tire & Rubber chairman resigns
15th September 2022/by Xuda Wang

Up & Running: Kumho publishes first annual report since 2018

Company News

For the first time since being acquired by China’s Doublestar four years ago, Kumho Tire has published an annual report. Under the title ‘Up and Running’, the South Korean tyre maker reports on the course of the 2021 business year, which the manufacturer closed with a turnover of KRW 2.6 trillion won (£1.65 billion), a year-on-year increase of 20 per cent.

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Related news:

  1. Kumho brand name off-limits to tyre maker’s potential purchaser
  2. Acquisition ugliness: Kumho Tire execs threaten mass resignation
  3. Yokohama Rubber ends technology tie-up with Kumho Tire
  4. Kumho Tire CEO ‘grateful’ for dealers’ support as first post-acquisition tyre launched
10th August 2022/by Stephen

Aeolus and Doublestar both report sharp declines in net profit

Company News, International News
Doublestar

Aeolus and Doublestar recently reported operating results for the first half of 2022. Both show sharp declines in net profits for the two companies that have controlling interests in global tyremakers Prometeon and Kumho respectively.

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Related news:

  1. Serbia open for business
  2. The top 10 listed Chinese tyre companies 2022
  3. Profits fall at large Chinese tyremakers
  4. Doublestar back in pole-position for Kumho purchase
19th July 2022/by Xuda Wang

The top 10 listed Chinese tyre companies 2022

Company News, International News
Mylene2401; Pixabay

Chinese listed tyre companies have successively released their 2021 annual reports in recent weeks. Here, Tyrepress analyses these annual reports’ comparing developments in revenue, operating conditions and overseas factory strategy. And the short story is Linglong remains the largest tyremaker amongst the top 10 listed Chinese tyre companies and that Sailun is the fastest growing.

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Related news:

  1. Chinese tyre makers off-shoring in Southeast Asia
  2. Serbia open for business
  3. Show review: Reifen China 2014
  4. ZC Rubber still number one tyre manufacturer in China 
10th June 2022/3 Comments/by Xuda Wang

Doublestar working with Huawei on 5G tyre network

International News

The Doublestar Group reports that it has signed a cooperation agreement with information and communications company Huawei. According to information posted by Doublestar, the partners will utilise their respective strengths to develop the infrastructure for a 5G network over which tyre pressure, temperature and wear data can be transmitted and shared between vehicles and companies in real-time.

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Related news:

  1. Doublestar launches Crossleader self-seal tyre
  2. Why Doublestar’s Kumho purchase is a good idea
  3. Doublestar acquires Hengyu Technology
  4. 2nd Algerian tyre plant: Doublestar participating in JV
14th June 2021/by Stephen

Triangle returns to China car tyre top 10, Michelin retains top spot

International News
Stephen Goodchild

Triangle Tyre expresses pride in its comeback as a top-ten consumer tyre brand in the China Brand Power Index (C-BPI) 2020. The brand occupies ninth place, ahead of domestic rivals such as Warrior, Chaoyang, Giti and Linglong.

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  1. Giti enters the top 10 of leading tyre manufacturers
  2. 19 finalists chosen for 2015 AutoBild winter tyre test
  3. Michelin the number one consumer researched tyre brand: Tyre Reviews
  4. Zhongce Rubber enters global top ten tyre manufacturers
13th May 2020/by Stephen

Kumho synergies & new growth: Doublestar benefitting from acquisitions

Company News, International News, Premium

It was a difficult birth. As regular visitors to this site are well aware, Qingdao Doublestar Co Ltd.’s acquisition of Kumho Tire was punctuated by more than its share of complications: Threats of mass resignations, bickering over brand name use and questions about financing all belonged to the experience.

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Related news:

  1. Doublestar forms European joint venture with Zenises
  2. Doublestar the only bidder left to buy Kumho
  3. Zenises, Doublestar officially confirm strategic partnership
  4. Why Doublestar’s Kumho purchase is a good idea
19th September 2019/by Stephen

2nd Algerian tyre plant: Doublestar participating in JV

Company News, International News

Buried within the more than 134 pages of Qingdao Doublestar’s latest semi-annual report is the news that the state-owned tyre maker will extend China’s ‘one belt, one road’ strategy by working with a local partner to establish a tyre production facility in Algeria. The Chinese-language document states that its subsidiary Hong Kong Doublestar signed a joint venture agreement with El Hadj Larbi Pneumatiques during the reporting period.

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Related news:

  1. Zenises, Doublestar officially confirm strategic partnership
  2. Acquisition ugliness: Kumho Tire execs threaten mass resignation
  3. Kumho Tire proposal ‘tentatively’ accepted
  4. Doublestar names Antonio Smith as general director for Spain and Portugal
13th September 2019/by Stephen

Doublestar acquires Hengyu Technology

Company News, International News

Qingdao Doublestar Tire, owner of Kumho Tire since July 2018, has once again grown through an acquisition. The Chinese tyre maker says it has completed the purchase of Shandong Hengyu Technology Co., Ltd. for RMB 899 million (£103.1 million). Doublestar disclosed in March that it had signed an agreement with Hengyu Technology’s administrator to acquire 100 per cent equity in the business.

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Related news:

  1. Doublestar the only bidder left to buy Kumho
  2. Doublestar back in pole-position for Kumho purchase
  3. Why Doublestar’s Kumho purchase is a good idea
  4. Acquisition ugliness: Kumho Tire execs threaten mass resignation
31st May 2019/by Stephen

Kumho delisting from London Stock Exchange

Company News, International News

Kumho Tire plans to delist its shares from the London Stock Exchange (LSE) at the end of April 2019, according to South Korean company filings.

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Related news:

  1. Doublestar back in pole-position for Kumho purchase
  2. Doublestar the only bidder left to buy Kumho
  3. Kumho takeover implosion isn’t the end of market consolidation attempts
  4. Why Doublestar’s Kumho purchase is a good idea
18th March 2019/by Chris

Kumho the strongest ‘local’ in South Korea’s aftermarket

International News

It may not be the best-selling Korean tyre brand worldwide, but at home Kumho outsells its domestic rivals. Data from the Korea Tire Manufacturers Association (KOTMA) indicates that 6.52 million replacement market Kumho tyres were sold in South Korea in 2018. This is more than 40 per cent of all locally-made tyres sold in the country.

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Related news:

  1. Acquisition ugliness: Kumho Tire execs threaten mass resignation
  2. Kumho Tire deadline approaching
  3. Kumho Tire delisting as military supplier
  4. Kumho Tire CEO ‘grateful’ for dealers’ support as first post-acquisition tyre launched
6th March 2019/by Stephen
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