Core Viewpoint - Linglong Tire (601966) has technological reserves and research capabilities for aviation tires, with related projects currently under development and not yet in the sales phase [1] Company Summary - Linglong Tire is actively developing aviation tire technology, indicating a potential expansion into a new market segment [1]

Group 1 - The core viewpoint of the article is that Linglong Tire (601966) has set an internal phased operational goal referred to as "1131" [1] - The company plans to announce specific operational targets for 2026 in an announcement scheduled for April 2026 [1]

Core Viewpoint - Linglong Tire (601966) is enhancing its non-road tire segment through a "3+3" global strategy, focusing on improving product technology, specifications, sales channels, and regions to increase production and sales scale in this area [1] Group 1: Company Strategy - The company is implementing a "3+3" global plan in the non-road sector to boost its market presence and operational scale [1] - Linglong Tire aims to enhance product performance and expand its sales channels and regions to increase its business share in the non-road tire market [1] Group 2: Product Offering - The company provides non-road tire products suitable for various equipment and vehicles, including those used in engineering machinery, road transport, and internal operations [1] - Linglong Tire's products are recognized for their durability, load capacity, and adaptability to complex working conditions [1] Group 3: Client Base and Market Reach - The company is a long-term supplier to major clients such as SANY Heavy Industry (600031), China Power Construction (601669), China Railway Tunnel, Conch Cement (600585), and Jiuquan Steel Group [1] - Linglong Tire's products have been sold to multiple countries across Asia, Europe, Africa, North and South America, and Oceania [1] Group 4: Future Growth Potential - The ongoing expansion in the non-road sector and the continuous improvement in production and sales rates are expected to drive new profit growth for the company [1] - The company has developed technical reserves and research capabilities for aviation tires, although it has not yet entered the sales phase for this product line [1]

证券日报网讯12月30日，玲珑轮胎（601966）在互动平台回答投资者提问时表示，公司始终秉持尊重人 权与保障劳动条件的核心价值，已构建起"全链条覆盖、多部门协同、数字化驱动"的内部管理流程与合 规管控体系，并建立多维度核查与动态评估机制，确保从原材料源头到产品终端的全链条合规。塞尔维 亚玲珑已于25年4月获得由国际品牌商、行业协会及非政府组织联合发起的供应链社会责任倡议(RSCI) 的审核认证，这也是对在其劳工权益、健康安全、环境保护、商业道德等领域合规性的权威认可。公司 管理层在收到美国海关与边境保护局(CBP)的暂扣令后已迅速启动内部应急响应机制，组成专项工作 组，采取多项措施积极应对。 ...

Core Viewpoint - Linglong Tire (601966.SH) has received a temporary import suspension order from CBP for its products in Serbia and is actively responding to mitigate the impact on its operations [1] Group 1: Company Response - The company has established a special task force to address the import suspension issue promptly [1] - It plans to adjust production schedules and sales strategies flexibly while coordinating closely with CBP and partners to protect its legitimate trade rights [1] - The company aims to have the suspension order revoked to minimize related impacts and ensure stable business operations [1] Group 2: Financial Impact - The tire export business from the Serbian subsidiary to the U.S. accounts for approximately 2.7% of the company's consolidated revenue for the period from January to November 2025, indicating a relatively limited impact [1]

Core Viewpoint - Linglong Tire is a leading global tire manufacturer with strong sales performance and rapid growth, focusing on a diverse and expanding product portfolio [1] Group 1: Company Overview - Linglong Tire submitted its Hong Kong IPO prospectus on June 30, which became invalid after six months on December 30 [1] - The company is engaged in the design, development, production, and sales of a wide range of tire products [1] - The product portfolio includes passenger and light truck tires, truck and bus tires, and off-road tires, with various specifications to meet different application scenarios [1] Group 2: Brand and Product Offering - The company offers its products under several proprietary brands, including Linglong, Lio, Yufeng, Atlas, Greenway, and Ruijie [1]

Group 1 - The core viewpoint of the article is that Shandong Linglong Tire Co., Ltd. has seen its Hong Kong IPO application expire after six months, indicating a potential delay in its market entry [1] - Linglong Tire is recognized as a global leading tire manufacturer, engaged in the design, development, production, and sales of a diverse and increasingly rich portfolio of tire products [1] - The company's product range includes a wide variety of passenger and light truck tires, truck and bus tires, and off-road tires, catering to different application scenarios [1] Group 2 - Linglong Tire offers its products under several proprietary brands, including Linglong, Lio, Yufeng, Atlas, Greenline, and Ruijie [1] - The company has demonstrated strong sales performance and rapid growth, highlighting its competitive position in the tire manufacturing industry [1]

Group 1 - The core viewpoint of the article is that Shandong Linglong Tire Co., Ltd. has seen its Hong Kong IPO application expire after six months, indicating a potential shift in its market strategy [1] - Linglong Tire is recognized as a global leading tire manufacturer, engaged in the design, development, production, and sales of a diverse and increasingly rich portfolio of tire products [1] - The company's product range includes a wide variety of passenger and light truck tires, commercial vehicle tires, and off-road tires, catering to different application scenarios [1] Group 2 - Linglong Tire offers its products under several proprietary brands, including Linglong, Lio, Yufeng, Atlas, Greenline, and Ruijie [1] - The company has demonstrated strong sales performance and rapid growth, highlighting its competitive position in the tire manufacturing industry [1]

Group 1: AI and Technology Developments - The launch of DeepSeek-R1 in January 2025 has become a core investment theme, driving significant capital market momentum and shifting the focus from performance competition to cost, efficiency, and commercialization capabilities in the AI sector [2] - The AI industry has seen a concentration of funds towards leading companies, with notable stock performances such as the "Yi Zhong Tian" combination, which saw gains exceeding 450% [2] - The human-robotics sector has entered a commercialized phase, with over 46 billion yuan in total orders and more than 20,000 units sold, indicating a shift from conceptual collaborations to practical applications [4][5] Group 2: Film and Entertainment Industry - The film "Nezha 2" achieved a record-breaking box office of 15.4 billion yuan, marking a significant milestone for the Chinese animation industry and contributing to a total annual box office of over 50 billion yuan, a 75 billion yuan increase from 2024 [3] - The success of "Nezha 2" and other animated films reflects the growing market potential for domestic animation, providing a reference for future creative and investment strategies in the film industry [3] Group 3: Market Dynamics and Competition - The intense competition in the food delivery industry, initiated by JD's entry with a no-commission model, has led to significant market disruptions and a series of subsidy wars among major platforms, resulting in a 141 billion yuan loss for Meituan's core local business despite record user numbers [7] - Regulatory bodies have intervened to address the chaotic competition, leading to commitments from major platforms to improve service quality and return to rational development [7] Group 4: Capital Market Trends - The A-share market has seen a record high in cash dividends, totaling 2.61 trillion yuan, reflecting an increase in companies' willingness to return profits to shareholders and enhancing market resilience [11] - The emergence of "GPU dual heroes" in the capital market, with multiple domestic GPU companies going public, signifies a milestone for the domestic AI chip industry and a shift towards self-sufficiency [10] Group 5: Industry Regulation and Quality Improvement - The lithium battery supply chain has experienced a price recovery due to regulatory efforts to combat "involution" competition, with lithium carbonate futures seeing significant price increases [12] - The charging battery industry is transitioning to a more orderly development phase following regulatory changes and recalls by major brands, addressing issues of safety and compliance [13]

Investment Rating - The report provides a positive investment outlook for the tire industry, highlighting significant growth potential and opportunities for domestic tire manufacturers to capture market share from foreign brands [1]. Core Insights - The report emphasizes a substantial replacement opportunity in the tire market, particularly for domestic brands, as they currently hold only 30% market share domestically and 20% internationally. The potential for growth is driven by the increasing demand for cost-effective and high-quality products [3][17]. - The analysis indicates that the tire industry is expected to experience a "Davis double" effect in 2026, where both volume and pricing are anticipated to rise, leading to improved profitability for leading domestic tire manufacturers [3][25]. - The report outlines a multi-faceted approach to market dynamics, focusing on long-term replacement potential, mid-term supply-demand tracking, and short-term monitoring of key variables such as production capacity and cost factors [6][20]. Summary by Sections Research Framework - The long-term perspective indicates a significant replacement space for domestic tire manufacturers, with a focus on supply-demand dynamics and key variables to monitor [6]. 2025 Marginal Changes - The report discusses how changes in trade policies in 2025 will enhance the cost advantages of domestic manufacturers, allowing them to capture more market share from foreign competitors [25]. 2026 Core Changes - It is projected that 2026 will mark a breakthrough year for high-end tire supply, with domestic manufacturers expected to increase their market share in premium segments significantly [25][29]. Stock Recommendations and Focus - The report recommends several domestic tire companies, including Zhongce Rubber, Sailun, and Linglong, while also suggesting to monitor others like Haian Rubber and Triangle for potential investment opportunities [3][29].