Qingdao Sentury Tire (002984.SZ) plans to invest in the construction of a high-performance passenger car and light truck radial tire project in Turkey.

Qingdao Sentury Tire (002984.SZ) has announced that the company plans to jointly invest with the TATKO Group, one of Turkey's leading independent multi-brand tire distribution and service enterprises, in the construction of an annual production project in Turkey for 7 million high-performance passenger car and light truck radial tires. The planned total investment for the project is USD 273 million, of which the company (including its wholly-owned subsidiaries) will account for 90.1% and the TATKO Group will account for 9.9%. It is reported that the project construction period is 18 months. After the project is completed, it is expected to achieve annual operating revenue of USD 205 million, a net profit of USD 42.11 million, and a net profit margin on sales of 20.58% during normal operations. Leveraging Turkey's geographical advantage in aligning with the "Belt and Road" Middle Corridor strategy, the project aims to create a tire manufacturing hub radiating to the European and Central Asian markets; at the same time, relying on Turkey's local automotive industry base, it will serve nearby regional vehicle OEM supporting demand. After the project is completed, it will form a global synergy effect with the company's overseas production bases in Thailand and Morocco, further improving the company's "833Plus" global strategic layout and promoting practical industrial cooperation between China and Turkey in manufacturing, job creation, and third-party markets.