赛轮轮胎（601058）(601058.SH)是中国第一家在海外建厂的轮胎企业，如今持续加码海外布局。 近日，赛轮轮胎公告显示，公司拟在埃及投资建设"年产360万条子午线轮胎项目"，项目投资总额2.91 亿美元(按照当前汇率计算约合人民币20.9亿元)。 赛轮轮胎表示，埃及地处亚非欧三大洲交汇处，濒临苏伊士运河，连接欧洲、非洲及中东市场，产品可 以辐射周边国家和地区。 值得一提的是，2024年，赛轮轮胎内销营业收入达75.52亿元，同比增长19.9%；外销营业收入达238.11 亿元，同比增长25%。外销收入占营业收入比例约为75%，成为公司业绩主要支撑。 拟在埃及投资建设轮胎项目 目前，赛轮轮胎旗下轮胎产品主要有"赛轮""路极""黑鹰""锐科途""黑骑士""赛维""迈驰"等品牌，产品 销往欧、美、亚、非等180多个国家和地区。 作为中国第一家在海外建厂的轮胎企业，赛轮轮胎已在越南、柬埔寨、墨西哥、印度尼西亚等四个国家 建有生产基地，在海外项目建设与运营领域积累了丰富经验，逐渐形成了涵盖供应链管理、本地化生产 及跨文化运营的成熟体系。 8月14日晚间，赛轮轮胎发布公告，为满足当地市场需求及公司全球化战略布局的 ...

Core Viewpoint - The company plans to invest in a new tire production project in Egypt, which is expected to enhance its global capacity and market presence [2][4]. Group 1: Project Overview - The company intends to invest a total of $291 million in the "360 million radial tire project" in Egypt, with $255 million allocated for construction and $35 million for working capital [4]. - The project will add 3 million semi-steel radial tires and 600,000 all-steel radial tires to the company's production capacity [4]. - Located in the Suez Economic Cooperation Zone, the project aims to serve both the local Egyptian market and surrounding regions [4]. - The project is expected to reach 60% production capacity in the first year and 100% in the second year, generating an average annual revenue of $190 million and a net profit of $35 million, with a net profit margin of 18.3% [4]. Group 2: Global Expansion and Product Development - The company currently has a production capacity exceeding 70 million tires, with facilities in Qingdao, Dongying, Weifang, Shenyang, Vietnam, and Cambodia [5]. - Ongoing construction projects are progressing steadily, with significant capacity planned for completion by the end of 2024 [5]. - The company has established partnerships with major domestic and international firms, enhancing its presence in the non-highway tire sector [5]. Group 3: Product Innovation - The "Liquid Gold" tire utilizes a pioneering chemical vulcanization technology that reduces rolling resistance and improves wet grip and wear resistance [6]. - This innovation addresses long-standing industry challenges, enhancing safety, energy efficiency, and comfort for users [6]. - The average "Liquid Gold" tire can reduce fuel consumption by over 4% for buses and 3% for passenger cars, while increasing the range of electric vehicles by 5-10% [6]. Group 4: Financial Projections - Revenue projections for the company from 2025 to 2027 are estimated at 36.54 billion, 41.85 billion, and 46.16 billion yuan, respectively, with corresponding net profits of 4.50 billion, 5.26 billion, and 6.14 billion yuan [7][8]. - The expected earnings per share (EPS) for the same period are 1.37, 1.60, and 1.87 yuan, with price-to-earnings (PE) ratios of 10, 8, and 7 [7][8].

Investment Rating - The report maintains a "Recommended" rating for the basic chemical industry [1] Core Insights - The report highlights the price increases of lithium carbonate and photoinitiators, suggesting a potential recovery in the chemical industry driven by anti-involution trends [1] - The basic chemical sector has shown strong relative performance, with a 39.4% increase over the past 12 months compared to the 25.7% increase in the CSI 300 index [3] Summary by Sections Recent Trends - The report notes a decline in the Guohai Chemical Prosperity Index to 92.75 as of August 14, 2025, down 0.11 from August 7, 2025 [4] Investment Recommendations - Key opportunities identified include: 1. Low-cost expansion in companies such as Wanhua Chemical, Satellite Chemical, and others [5] 2. Improvement in industry prosperity for chromium salts, phosphate rock, and various chemical sectors [6] 3. Focus on new materials with high growth potential and low domestic substitution rates [7] 4. High dividend opportunities in state-owned enterprises like China Petroleum and Sinopec [8] Price Analysis of Key Products - Industrial-grade lithium carbonate price increased by 9.93% to 83,000 CNY/ton [10] - Photoinitiator (TPO) price rose by 5.56% to 95 CNY/kg [10] - Polyester filament price increased by 2.16% to 7,100 CNY/ton [10] Company Performance Tracking - Notable companies such as Zhenhua Co. reported a 10.17% increase in revenue for the first half of 2025 [13] - Wanhua Chemical's pure MDI price was reported at 17,900 CNY/ton, with a slight increase [11] Market Observations - The report indicates a potential inventory replenishment cycle in the chemical sector due to anticipated fiscal policy support in China and the US [29]

Investment Rating - The report maintains a positive outlook on the chemical industry, particularly focusing on heat dissipation materials and helium gas from Russia, as well as incidents affecting Zhongkun Chemical [3][4]. Core Insights - The macroeconomic judgment indicates that non-OPEC countries are expected to lead an increase in oil production, with a significant overall supply growth anticipated. Global GDP growth is projected at 2.8%, with stable oil demand despite some slowdown due to tariffs [3][4]. - The trend towards liquid cooling in AI servers is highlighted, with significant power requirements leading to increased demand for specialized cooling materials. The report suggests monitoring companies like Bayi Shikong, New Era, Dongyangguang, Yonghe Co., and Juhua Co. [3][4]. - Recent incidents affecting helium supply in Russia and a fire at Zhongkun Biotech are expected to positively impact the helium supply-demand balance, with recommendations to focus on companies like Guanggang Gas, Huate Gas, and Jinhong Gas [3][4]. Summary by Sections Industry Dynamics - Oil supply is expected to increase significantly, with non-OPEC countries leading the way. Global oil demand remains stable, but growth may slow due to tariff impacts. Coal prices are expected to stabilize at low levels, while natural gas export facilities in the U.S. may reduce import costs [4][5]. Chemical Sector Configuration - The report notes a decrease in oil prices and an increase in coal prices, with industrial product PPI showing a year-on-year decline of 3.6%. Manufacturing PMI recorded at 49.3%, indicating a slight contraction in manufacturing activity [3][5]. Investment Analysis - Traditional cyclical investments should focus on leading companies in their respective sectors, including Wanhu Chemical, Hualu Hengsheng, and Baofeng Energy. Growth sectors include semiconductor materials and OLED panel materials, with specific companies highlighted for their potential [3][4][17].

Group 1 - The core viewpoint of the report is the recommendation rating for Sailun Tire (601058.SH) based on several positive factors [2] - The expansion of production capacity in Egypt is highlighted as a significant development for the company [2] - The company is making steady progress in globalization and is focusing on non-highway markets [2] - The performance of "liquid gold" products is noted to enhance the company's brand strength [2]

Investment Rating - The report maintains a "Recommended" rating for the company, with a target price based on the closing price of 13.39 CNY per share on August 15, 2025 [5]. Core Views - The company is expanding its overseas production capacity with a new project in Egypt, which will produce 3.6 million radial tires annually, with a total investment of 291 million USD [1]. - The project is expected to generate an average annual revenue of 190 million USD and a net profit of 35 million USD, with a net profit margin of 18.3% and a payback period of 6.15 years [1]. - The company has a strong existing capacity of over 70 million tires, with production facilities in various locations including Qingdao, Dongying, and Vietnam, and is steadily advancing its construction of new capacities [2]. - The company has established partnerships with major domestic and international firms, enhancing its presence in the non-road tire sector [2]. - The innovative "Liquid Gold" tire technology has improved performance metrics, reducing rolling resistance and enhancing safety and comfort, which is expected to boost brand strength [3]. - Revenue projections for the company from 2025 to 2027 are estimated at 36.535 billion CNY, 41.850 billion CNY, and 46.156 billion CNY respectively, with net profits of 4.504 billion CNY, 5.264 billion CNY, and 6.138 billion CNY [4][8]. Summary by Sections Investment and Expansion - The company plans to invest in a new tire production facility in Egypt, which will add significant capacity to its global operations [1]. - The project is strategically located to serve both local and regional markets, enhancing the company's international footprint [1]. Production Capacity and Partnerships - The company has a robust production capacity and is actively expanding its facilities in Vietnam and Cambodia, with significant progress reported in ongoing projects [2]. - Collaborations with leading companies in both domestic and international markets have strengthened its position in the non-road tire segment [2]. Product Innovation - The "Liquid Gold" tire technology represents a significant advancement in tire performance, addressing long-standing industry challenges and improving energy efficiency [3]. - The technology has been validated by multiple international testing organizations, further solidifying the company's reputation in the market [3]. Financial Projections - The company is expected to see steady revenue growth over the next few years, with significant increases in both revenue and net profit anticipated [4][8]. - The earnings per share (EPS) are projected to rise from 1.37 CNY in 2025 to 1.87 CNY in 2027, indicating strong financial health and growth potential [4][8].

子。因此，瑞元鼎实投资有限公司、青岛煜明投资中心（有限合伙）、杨德华女士、袁嵩先生是袁仲雪先生的一致行动人。 注 2：上表中合计比例数与各明细数直接相加之和在尾数上若有差异，是由于数据四舍五入造成。 存在平仓风险或被强制平仓的情形，亦不存在需履行的业绩补偿义务。若出现平仓风险， 袁仲雪先生及其一致行动人将采取补充质押、提前购回被质押股份等措施应对风险。 制权稳定、股权结构、日常管理产生实质性影响，不会导致公司实际控制权发生变更。 特此公告。 赛轮集团股份有限公司董事会 | 证券代码：601058 | 2025-056 | 证券简称：赛轮轮胎 | 公告编号：临 | 赛轮集团股份有限公司 | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 关于股东部分股份质押延期购回及质押的公告 | 公司股东保证向本公司提供的信息内容真实、准确和完整，没有虚假记载、 | | | | | | | | | | | | | | | | 误导性 ...

Group 1 - Company has established production bases in Vietnam, Cambodia, Mexico, and Indonesia, making it the first tire company in China to build factories overseas, accumulating rich experience in overseas project construction and operation [3] - The new tire production base in Egypt aims to capture local market demand and enhance service capabilities for core customers, leveraging Egypt's geographical and policy advantages to expand into surrounding markets [3] - The total investment for the Egypt project is approximately $29.148 million, with an expected annual revenue of $18.997 million and a net profit of $3.477 million, resulting in a net profit margin of 18.30% and a payback period of 6.15 years [3] Group 2 - As of December 31, 2024, the company reported total assets of 40.285 billion yuan, a 19.45% increase year-on-year, and net assets of 19.509 billion yuan, a 31.35% increase [4] - The company achieved an operating revenue of 31.802 billion yuan, a year-on-year growth of 22.42%, and a net profit attributable to shareholders of 4.063 billion yuan, up 31.42% [4] - The company plans to build production capacities for 28.25 million all-steel radial tires, 109 million semi-steel radial tires, and 447,000 non-road tires [4]

证券代码：601058 证券简称：赛轮轮胎 公告编号：临 2025-056 赛轮集团股份有限公司 关于股东部分股份质押延期购回及质押的公告 公司股东保证向本公司提供的信息内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与公司股东提供的信息一致。 重要内容提示： 截至本公告披露日，公司实际控制人袁仲雪先生控制的股份（含其一致 行动人持有的股份）为 847,785,544 股，占公司总股本的 25.78%。本次袁仲雪 先生所持 76,689,800 股公司股份质押延期购回、瑞元鼎实质押 17,700,000 股公 司股份后，袁仲雪先生控制的股份累计质押 292,989,800 股公司股份，占其控制 公司股份总数的 34.56%，占公司总股本的 8.91%。 2025 年 8 月 15 日，赛轮集团股份有限公司（以下简称"公司"）收到实际 控制人袁仲雪先生的通知，其持有的 76,689,800 股公司股份办理了质押延期购 回业务、其一致行动人瑞元鼎实投资有限公司（以下简称"瑞元鼎实"）持有的 17,700,000 股公司股份质押给中国银河证券股份有限公司。具体情况如下 ...

Core Viewpoint - Company has clarified its investment plans in Egypt, addressing investor concerns regarding information disclosure and investment amounts [1] Group 1: Investment Details - Company plans to invest $290 million in a project to produce 3.6 million radial tires annually in Egypt [1] - Initial media reports suggested an investment of $1 billion, which the company has clarified as inaccurate [1] Group 2: Information Disclosure - Company’s board approved the investment project on August 14, and the announcement was made on August 15 [1] - Company responded to investor inquiries regarding potential information concealment, emphasizing transparency in its disclosures [1]