This is the End-October edition of our monthly China tire industry updates. It is based on content from our weekly China Tire Industry intelligence report. Following last month’s revelations about Triangle’s over-stated revenues, there is continued evidence of the same in the company’s Q3 results where Triangle revenues continue to decline while those of Linglong
This is the End-September edition of our monthly China tire industry updates. It is based on content from our weekly China Tire Industry intelligence report. This month in China’s tire industry we saw the culmination of Triangle’s 3-year project to raise USD 650m in cash through a share issue. We also saw a lesser-known company,
Continuing our reporting on developments in China’s tire industry, August has been an active month, with IPO approvals given to both Triangle and GST. Triangle’s is going well, with the share price of RMB22.07 raising up to USD640m. The 30% share that was sold online was over-subscribed by a factor of over 2000 times. (See
Last week, after many delays, Triangle Tire finally launched a programme to sell up to 200m shares on the Shanghai stock exchange. The issue price will be RMB22.07/share, leading to a potential gain of RMB 4285m (USD 641m) after costs and charges. The issue is scheduled to take place in the first half of September.
The biggest news in the China tire industry over the last weeks has been the IPO share issue of Linglong. It was a great success, with the Linglong share price rising 44% on the first day of trading and subsequently climbing to three times the issue price of RMB12.98. We have to ask: was the
I’ve just come back from a week in China and wanted to update readers on developments there. IPOs go ahead Linglong has announced that its initial public offering (IPO) is going forward and the company has published its revised prospectus. I have posted a story, together with detailed financials on my company website. The listing
On June 13th, Shandong Linglong Tires Ltd announced a preliminary notice of its initial public offering (share offering) on a Chinese stock exchange. The issuer’s stock is shortened as “Linglong tire”, stock code “601966”on the Shanghai Stock exchange. The company aims to issue 200m shares at RMB12.98 (USD1.97) each, raising a maximum of almost USD400m.
Following the successful launch of our weekly intelligence report on China’s tire industry we have decided to publish a monthly summary of the latest trends. By David Shaw Outlook improving We expect to see tire production volumes rise significantly in June and July. Orders beyond that period are uncertain. Last month we noted that some
By David Shaw Tire makers still in a bad way China’s tire makers are still in a bad way. Spring has not yet arrived after the long economic Winter caused by US tariffs, the economic slowdown and other factors. Nevertheless, there are signs that the last snows have fallen and a few early flowers might
In the last month there have been some significant developments in the tire industry with respect to labelling. First, China has developed its own label. It was shown at a press conference in Beijing on 22 April 2016. Second the EU has published a major study on tire labelling Third, the EU has begun a
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