Service Long March (SLM), Chinese tyremaker Chaoyang Long March’s joint venture in Pakistan, is preparing to list on the Hong Kong Stock Exchange. On 12 January, Muhammad Aurangzeb, Federal Minister of Finance and Revenue of Pakistan, exchanged views with Jin Yongsheng, chairman of Service Long March, and Omar Saeed, CEO, before attending the Asian Financial Forum in Hong Kong.
At the end of September, the list of Asia’s most influential brands of 2023 was published at the “Asia Brand Summit” in Hong Kong. A total of 500 brands from 20 countries and regions, were honoured at the 18th World Brand Lab summit themed “The Impact of New Technologies on Brand Transformation and Consumer Behavior.” Seven of them were tyre brands and all seven were ranked amongst the top 350 of the 500 honoured brands.
Following on from openings in mainland China and Singapore earlier in 2022, the Point S master franchisees in Hong Kong and mainland China have opened more Point S locations.
Bridgestone Corporation has announced plans to consolidate its aircraft tyre retreading operations in Asia. At the end of June 2023, it will close the Bridgestone Aircraft Tire Company (Asia), Ltd. operation in Hong Kong and transfer production to its Bridgestone Aircraft Tire Manufacturing (Thailand) Co., Ltd. facility in Chonburi, Thailand. The closure of the plant in Hong Kong will affect 102 employees.
Linglong Tire has withdrawn its support for the NBA China Games, which are taking place in Shanghai and Shenzhen this week. In a Chinese-language press release, the tyre maker stresses that the interests of the motherland, the People’s Republic of China, take precedence over everything else.
Having rejected earlier plans for a new tyre factory in Malaysia, Prinx Chengshan has invested 170.6 million yuan (£19.464 million) in buying at least 433,600 square metres of land in at Tambon Nong Suea Chang, Amphur Nong Yai, and Tambon Klong-Kew, Amphur Ban-Bung, Chonburi province in Thailand. According to stock exchange filings dated 25 December 2018, the deal comprises “several plots of land” and will be funded by the company’s recent global share offering.
With the striking of a ceremonial gong, Prinx Chengshan (Cayman) Holding Limited went live on the Hong Kong Stock Exchange at precisely 9:30am on 9 October. The tyre maker’s listing last month followed nearly a year of preparations and represents an important step in a growth and internationalisation strategy that also includes producing in Southeast Asia and making greater inroads into European and North American markets.
The striking of a ceremonial gong at precisely 9:30am this morning marked the listing of Prinx Chengshan (Cayman) Holding Limited on the Hong Kong Stock Exchange. Today’s listing follows nearly a year of preparations and represents an important step in the company’s growth and internationalisation strategy. Trading under stock code 1809, Prinx Chengshan is the first China-based tyre manufacturer to join the HKEX.
Next month, Prinx Chengshan will become the first Chinese tyre maker to be publicly listed on the Hong Kong Stock Exchange. Michael Chu, deputy general manager of the company’s international sales centre, told Tyrepress.com that the listing is expected to take place on 9 October. This move has been more than a year in the planning.
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