New Stock News | Shandong Linglong Tyre (601966.SH) submits application to Hong Kong Stock Exchange, becoming China's largest OE tire manufacturer.

According to the disclosure on June 30 by the Hong Kong Stock Exchange, Shandong Linglong Tyre Co., Ltd. (hereinafter referred to as: Shandong Linglong Tyre (601966.SH)) submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CITIC SEC and CICC International as joint sponsors. The prospectus shows that Shandong Linglong Tyre is a leading global tire manufacturer, mainly engaged in the design, development, production, and sale of a diverse and increasingly rich range of tire products, with strong sales performance and rapid growth. The company's product portfolio includes a wide range of passenger and light truck tires, bus tires, and off-road tires, with multiple specifications to adapt to different application scenarios. The company offers its products under a range of proprietary brands, including Linglong, LEO, YUFENG, ATLAS, GREENSAVER, and ROADSUN. As of December 31, 2024, Shandong Linglong Tyre has established seven major research and development centers and seven major production bases globally, with five located in China, two in Thailand, and Serbia respectively. The company mainly sells its products directly to over 60 automobile manufacturers, including eight of the top ten global automobile manufacturers based on global sales in 2024, along with other renowned brands from China, Germany, Europe, the United States, and Japan as its customers. It also distributes its products through a network of over 1,240 distributors to retail. According to Frost & Sullivan data, based on global sales in 2024, Shandong Linglong Tyre is the largest OE tire manufacturer in the Chinese market, and the third-largest OE tire manufacturer globally. Since 2020, the company has been the largest OE tire manufacturer for new energy vehicles in the global market for five consecutive years. In terms of performance, in the fiscal years of 2022, 2023, and 2024, Shandong Linglong Tyre achieved revenues of approximately 17.06 billion,19.65 billion, and 22.58 billion yuan respectively; while during the same periods, net profits were approximately 0.92 billion, 1.91 billion, and 1.52 billion yuan respectively.