In a stock Exchange announcement, Hainan Rubber said it expects to announce an annual operating loss of RMB9850m (USD1500m) for the 12 months to December 2015, compared with a profit of RMB22.4m a year ago. The company blamed the fall in the price of rubber. Source: Stock Exchange announcement
TDW, a Guangrao-based internet company has set up a information and sales portal for commercial vehicle tires at http://www.tdw360.com/ . The company was set up in October 2014 and aims to provide consumers with tires in the industrial, OTR, mining and truck segments. TDW stands for Tire that Drive the World, in English, or Tai
China Automotive News interviewed Wang Feng (王锋). He said Aeolus wants to be the top brand among China’s tire makers. He said China has hundreds of tire makers and thousands of tire brands, but the industry has not reached maturity. Consolidation is a natural consequence of industrial upgrading. Asked about the future integration with Pirelli,
The United States-based International Trade Commission is scheduled to hold a conference on the alleged dumping of Off-road tires today 29 Feb in Washington, DC. A series of companies who are active in this business are expected to speak. They include: American Omni Trading Co. LLC American Pacific Industries Inc. USA Inc. Apollo Vredestein, Apollo
One of China’s largest online tire sales portals said sales have doubled in 2015. In December, sales reached RMB 120m, which is equivalent to three months of sales in 2014. Tuhu said 90% of its users are male. Most of them are in the age range 20-39 years. This is consistent with overall internet use
Sentury general manager Lin Ye Long (林奕龙 ) spoke to staff saying that 2015 had been a difficult year, but Sentury has managed to improve sales and profits. He claimed that Sentury is the most profitable tire maker in Shandong. In 2015, Sentury spent USD400m on its new factory in Thailand and it is planning
Aeolus, Double Coin, Double Star, GiTi, Sailun and Guizhou Tire all announced in 2015 that they intend to buy financial services. TIRes suggests that this may for two reasons: partly to re-structure debts as banks tighten credit controls and partly to generate income from under-used capital when revenues from tires are falling. CCorporate results indicated
Zhu Fushou (朱福寿 ), general manager of DongFeng Motors has been expelled from the Party, and demoted following serious disciplinary violations, according to China’s Central Commission for Discipline Inspection (中央纪委 ) Source: Central Commission for Discipline Inspection (see third-to-last item)
A detailed report in TireWorld alleges that Toyo is selling defective tires in China. The magazine has carried out independent research to suggest that some of the waxes and oils used in the tires are leaching out to the surface. This surface bloom is affecting braking performance. Tire World suggests that Toyo is aware of
Customs data shows that Chinese tire exports to various countries fell in 2015 compared with 2014. The country exported 444.51 million units, down 6.6% on the previous year, but the value was down by 15.1%, to RMB 85,854million, suggesting an average price fall of around 10% per unit to RMB195 per unit. Internal commentary suggests
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