①Linglong Tyre announced that the company plans to carry out overseas (Serbia) investment expansion projects, with an investment of US$0.645 billion; ② In the phase of rapid release of production capacity in the Serbian project, in order to compete for overseas markets, Linglong Tyre (601966.SH) plans to further increase the capacity of the Serbian base with 2.4 million units of bus tires completed in 2024, and 12 million units of passenger and light truck tires completed in 2025.
On August 8th, Cailian Press News (Reporter Xiao Lianghua) At the stage of the rapid release of production capacity in the Serbian project, in order to compete for overseas markets, Linglong Tyre (601966.SH) plans to further increase the capacity of the Serbian base.
Linglong Tyre announced tonight that the company plans to carry out overseas (Serbia) investment expansion projects. According to preliminary investment estimates, the total investment of the project is US$0.645 billion (approximately RMB 4.621 billion).
After the project is completed, it will achieve an annual output of 1.1 million sets of various high-performance radial tires, including: 0.8 million sets of TBR (full steel radial tires), 0.05 million sets of engineering radial tires, 0.15 million sets of agricultural radial tires, and 0.1 million sets of retreaded tires; 0.006 million tons of liquid regenerated rubber. The project plans to build a 24MW photovoltaic power station, which can achieve an average annual power generation of 29.3978 million kWh. After the photovoltaic power generation project is completed, it will be fully self-used. The project plans to complete preliminary work by the end of December 2024, start construction in January 2025, and be completed and put into use by the end of December 2030, with a construction period of 6 years.
Currently, Linglong Tyre has two overseas bases in Thailand and Serbia. Among them, the Serbian base is the only base of Chinese tire-listed companies located in Europe, which is close to the European market and has certain regional advantages in the industry.
Cailian Press reporter learned from an interview that the first phase of Linglong Tyre's Serbian base truck tires and passenger car tires obtained trial use permits in May and December 2023, and the production capacity of 2.4 million bus tires was completed in 2024, and 12 million passenger and light truck tires will be completed in 2025.
Linglong Tyre stated on the investor interaction platform on June 28th that the company's Serbian plant semi-steel project is in the fast production capacity climbing phase. The company attaches great importance to the construction progress of the Serbian plant and expects that the full steel will reach the design capacity by the end of this year and the semi-steel will reach the capacity of 12 million sets by the end of June next year.
It is reported that starting from January 2024, Linglong Tire's Serbian factory has successively passed audits by Volkswagen, MAN, Nissan, Hyundai, Ford, Audi (logistics) and Stellantis. The company stated that the gross margin of the Serbian factory supporting end will also maintain a relatively high level in the future.
On the same day, Linglong Tyre announced that the company's controlling shareholder Linglong Group plans to increase its shareholding in the company, with an amount of no less than RMB 0.15 billion and no more than RMB 0.2 billion.