Core Viewpoint - Linglong Tire (601966) emphasizes the importance of communication with the capital market and aims to enhance market confidence through various channels of interaction with shareholders [1] Group 1: Communication Strategy - The company maintains open communication with shareholders through multiple channels, including the Shanghai Stock Exchange E-interaction platform, investor hotlines, online earnings briefings, investor reception days, company research, brokerage strategy meetings, and institutional roadshows [1] - The company is committed to ensuring transparency in information disclosure while actively conveying the progress of its operational plans and long-term investment value [1] Group 2: Strategic Focus - Linglong Tire will continue to prioritize technological innovation as the core driving force behind its operations [1] - The company aims to advance its globalization strategy alongside the development of retail channels and supporting systems [1] - By leveraging multi-dimensional strategic synergies, the company seeks to strengthen its fundamentals and enhance its core competitiveness [1] Group 3: Long-term Goals - The company is focused on solidifying its foundation to achieve its established medium- to long-term strategic objectives [1]

Core Viewpoint - Linglong International (Europe) has achieved a significant milestone by receiving the Ford Q1 certification, marking its entry as a core partner in Ford's European supply chain [1][3]. Group 1: Certification and Standards - The Ford Q1 certification is recognized as the "gold standard" in Ford's supplier system, known for its stringent requirements across five dimensions, including quality systems and continuous performance [3]. - The certification indicates that Linglong has met Ford's highest global standards in product quality, production management, and service levels [3]. Group 2: Production and Capacity - As China's first tire production base in Europe, Linglong has established an automated and digital production system since its launch in 2024, setting an industry benchmark [5]. - The factory currently employs over 2,300 staff, with more than 70% being local Serbian employees, and has implemented a "three-culture integration plan" for effective cross-cultural management [5]. - The partnership with Ford is expected to further enhance Linglong's production capacity, with an annual output of 12 million semi-steel radial tires, allowing for agile responses to European market demands [5]. Group 3: Strategic Collaboration - The collaboration with Ford is anticipated to strengthen the competitiveness of Ford's supply chain, with potential future cooperation in advanced areas such as tires for electric vehicles [5]. - Linglong's proactive localization and high-standard quality systems will contribute to building a stable and reliable supply chain ecosystem, providing a solid practical example for enhancing global industrial chain resilience [5].

Group 1 - The core viewpoint of the news is that Linglong Tire (601966) is launching a high-end commercial vehicle tire series called "Terminator Series" in 2024, which includes five product lines designed for various freight scenarios and road conditions, aiming to set a new benchmark for high performance and reliability in commercial vehicle tires [2][6] Group 2 - The "Voyager LS86HP," a guiding wheel product targeting long-distance trunk transportation, offers a high-mileage solution with an exceptional lifespan of over 400,000 kilometers, enhanced by a high wear-resistant formula and a new profile design that improves wear performance by 28% [4] - The product features industry-leading anti-wear performance, designed to eliminate uneven tire wear, and ensures comfort and balance through 100% dynamic balance testing, optimizing the profile and construction for a smoother ride [4] - The tire incorporates a temperature control improvement through a variable temperature vulcanization process, reducing tire temperature by 3-5°C to minimize the risk of blowouts, and comes with a 5-year warranty and free replacement under the "Linglong Guard" service system [4] Group 3 - Linglong Tire emphasizes the importance of truck drivers in the logistics industry, recognizing them as the backbone connecting various sectors, and is committed to addressing their real needs through product innovation and service upgrades [6] - The company aims to provide safer, more efficient, and economical transportation solutions, focusing on product quality, performance, and continuous technological research and development to enhance logistics efficiency and reduce social logistics costs [6]

Core Viewpoint - Linglong Tire (601966) emphasizes that its dividend distribution plans are designed to ensure the necessary funding for daily operations and long-term development while sharing the company's growth with shareholders [1] Group 1: Dividend Strategy - The company states that its dividend plans are reasonable profit distributions made under the premise of ensuring operational and developmental funding [1] - Future dividend strategies will continue to focus on sharing the company's growth with shareholders [1] Group 2: Business Focus and Operational Efficiency - Linglong Tire will maintain its focus on core business operations, aiming to optimize operational efficiency and reduce costs while improving quality [1] - The company is committed to enhancing its profitability over time [1] Group 3: Financial Strategy - Linglong Tire plans to adjust its financing plans and capital usage strategies based on market conditions and the company's actual situation [1] - The company aims to ensure the safety and liquidity of its funds to achieve long-term stable development [1] - The ultimate goal is to create more value for shareholders [1]

作为企业掌舵者，该公司董事长王锋是可持续发展理念的坚定倡导者与实践者。在他的引领下，玲珑轮胎制定了清晰的碳中和路线图，将ESG管理提升至 公司战略核心地位，并系统性地推动其贯穿于研发、生产、供应链及品牌建设等各个环节，展现了杰出的战略前瞻性与领导力。 从玲珑轮胎（601966）获悉，日前，2025年度上市公司卓越ESG价值榜颁奖盛典举行，会上公布了2025年度上市公司卓越ESG价值榜获奖企业及企业家名 单。玲珑轮胎荣获"ESG卓越影响力企业"奖项；该公司董事长王锋获评"ESG卓越领军人物"，实现企业与个人的双项荣誉突破。 在全球"双碳"目标与可持续发展浪潮下，环境、社会和公司治理（ESG）已成为衡量企业核心竞争力的关键标尺。玲珑始终将可持续发展理念深植于战略 内核，以"绿色低碳、创新驱动、责任担当"为导向，在环境保护、社会责任与公司治理三大维度持续深耕，勾勒出一条"技术赋能、产业协同、价值共 生"的高质量发展路径。 在环境（E）维度，公司致力于绿色制造与全生命周期碳管理，持续加大环保技术投入，其绿色产品与智能工厂已成为行业标杆。在社会（S）维度，玲 珑积极构建和谐的产业生态，坚持对员工、客户、合作伙伴及社区履 ...

Core Insights - Linglong Tire's Chairman Wang Feng was awarded "2025 China's Top Ten Brand Figures" for his leadership in promoting long-termism, innovation, and internationalization of the brand [1][3] Group 1: Long-term Strategy - The tire industry is characterized as a capital and technology-intensive "marathon," and under Wang Feng's leadership, Linglong has focused on its core business for decades, investing in R&D, smart manufacturing, and global production bases [3] - Linglong has established seven advanced intelligent production bases globally, transitioning from "producing in China for the world" to "producing globally for the world," enhancing supply chain efficiency and customer trust [3] Group 2: Innovation-Driven Approach - Linglong integrates innovation into its core, investing 3% to 5% of its sales revenue annually into technological innovation, focusing on high-performance products that meet market demands for safety, comfort, and sustainability [4] - The company collaborates with global automotive manufacturers, moving from mere supply to joint R&D, gaining international recognition for its technological capabilities [4] Group 3: Value Co-creation Philosophy - Linglong emphasizes building a "value circle" with global partners, focusing on mutual growth with employees and collaborative development with partners to create a sustainable industrial ecosystem [6] - The company adheres to local laws and cultural differences while fulfilling its responsibilities towards the environment, community, and employees, aiming to be a respected "corporate citizen" [7] Group 4: Brand Building - Linglong invests in global top-tier events to establish emotional connections with users, sponsoring over 100 international sports events and collaborating with renowned brands like Real Madrid and Chelsea [8] - This long-term investment in brand exposure has helped Linglong build a trustworthy and high-quality brand image globally, marking a significant step for Chinese tire brands in the international market [9] Group 5: Commitment to Excellence - Linglong's journey from Shandong to the world reflects its commitment to building a world-class brand and fulfilling its mission of serving the nation through industry [10] - The company plans to continue its long-term strategy, innovation-driven approach, value co-creation, and brand mission to enhance the global presence of Chinese manufacturing [10]

Core Insights - Linglong Tire (601966) achieved a significant breakthrough in the 2025 CDP rating, receiving a "B" management level rating in both "climate change" and "water security" categories [1][5] - The CDP rating is recognized globally as a core benchmark for corporate environmental management maturity, indicating that the company has established a comprehensive management system covering strategic governance, risk identification, target setting, and specific actions [1][5] - Linglong Tire's achievement reflects its advanced environmental management practices, demonstrating systematic approaches to climate risk and opportunities for green transformation [1][5] Environmental Management Practices - The company has conducted environmental risk and opportunity assessments across its operations and entire value chain, setting quantifiable mid-term goals for emissions reduction and water conservation [3] - Specific management projects include energy efficiency improvements and water recycling initiatives, extending environmental management requirements to the supply chain by promoting carbon management among suppliers and establishing green procurement standards [3] Future Directions - In the context of global green transformation and increased supply chain transparency, this rating not only affirms Linglong Tire's past efforts but also enhances its credibility in international markets, serving as a valuable reference for high-quality and green development in China's manufacturing sector [5] - The company aims to continue aligning with international best practices, enhancing technological innovation, and refining management processes to achieve higher leadership levels in CDP ratings [5]

"废旧轮胎制备液体再生胶可循环轮胎应用技术"，在温和可控的低温环境下，通过连续化、自动化的精密系统，将废旧轮胎高效转化为性能优异的液态再 生胶。生产过程能耗显著降低，避免了高温裂解二次污染，实现清洁化连续生产。所得液体再生胶分子量分布均匀、相容性与流动性俱佳，大幅提升资源 附加值，推动了从"废弃"到"高值利用"的循环。 该技术不仅破解了废旧轮胎的"黑色污染"治理难题，更将之转化为可持续的绿色资源，有效减少原材料开采与整体碳排放，为轮胎行业提供了经济与环境 效益并重的解决方案，引领产业循环经济迈向高端化、低碳化新阶段。 近日，第十届铃轩奖颁奖典礼在苏州揭晓。在为期半年、经过29位专家严格评审的激烈角逐中，玲珑轮胎（601966）从百余项申报中脱颖而出，斩获双项 大奖："废旧轮胎制备液体再生胶可循环轮胎应用技术"荣膺前瞻类优秀奖，"新玲珑大师致途"夺得量产类优秀奖。玲珑第六次成为该汽车零部件权威奖项 唯一获奖的轮胎企业，彰显了其持续领先的创新能力。 当前，全球汽车产业正经历深刻变革，中国在新能源与智能网联汽车领域已走在世界前列。玲珑紧跟产业趋势，以前瞻技术与高端产品双轮驱动，为汽车 产业提供面向未来的解决方案。 ...

Summary of Tire Industry Conference Call Industry Overview - The tire industry is experiencing significant growth opportunities, particularly for domestic brands in the global market. Current market share for domestic brands in major markets like Europe and North America is around 15%, with substantial room for growth as they aim to replace foreign brands in the lower-tier segments [1][3][11]. Key Insights - **Market Share Growth**: Domestic tire brands are expected to increase their market share significantly by 2026, particularly in high-end segments, where they aim to capture over 50% of the market [2][3]. - **Global Expansion**: Leading domestic tire companies are accelerating their global expansion strategies, establishing production capacities in regions outside Southeast Asia to mitigate trade risks and enhance performance certainty [1][6][20]. - **Profitability**: Domestic tire companies exhibit strong profitability, with net profit margins around 10% and ROE exceeding 20%. Non-road tire products have gross margins as high as 40%-50% [1][23]. Market Dynamics - **Trade Policies**: Changes in trade policies in Europe and the U.S. are creating both challenges and opportunities for domestic tire manufacturers. The ability to adapt to these changes is crucial for maintaining competitiveness [6][17]. - **Cost Pressures**: Global automotive manufacturers are under significant cost-cutting pressures, which may benefit domestic tire companies due to their competitive pricing and cost structure [15][18]. Future Projections - **Valuation Potential**: The tire sector is currently valued at approximately 10 times earnings, with potential to rise to 15-20 times as growth prospects improve and trade disruptions lessen [24][25]. - **High-End Market Penetration**: By 2027, domestic brands are projected to achieve over 60% market share in the domestic semi-steel tire segment, driven by advancements in high-end model supply [21]. Company-Specific Insights - **ZC Rubber**: Anticipated to significantly increase production capacity by 2026, with a focus on high-end model supply [26]. - **Sailun**: Maintains a strong overseas presence, with plans to expand production in Indonesia and Mexico, while enhancing its high-end model offerings [27]. - **Sime Darby**: Focused on semi-steel tire production, with plans to enhance profitability through new capacity in Morocco [28]. - **Linglong Tire**: Aims to shift focus from low-end to high-end models to improve profitability [29]. - **Princeton**: Currently undervalued but expected to see valuation improvements with new production coming online in Malaysia [30]. Conclusion - The tire industry is poised for significant growth, driven by domestic brands' increasing market share, global expansion strategies, and strong profitability metrics. The evolving trade landscape and cost pressures on global manufacturers present both challenges and opportunities for domestic players. The overall outlook for the industry remains positive, with substantial potential for valuation increases in the coming years.

证券日报网讯 1月8日，玲珑轮胎在互动平台回答投资者提问时表示，公司正在充分考量资本市场，特 别是中小股东的意见与建议，秉持维护股东利益、对全体股东负责的原则，结合当前资本市场环境的变 化和公司自身资金需求、业务发展规划等多重因素，审慎讨论并分析港股发行节奏，相关进展情况敬请 关注公司后续公告。 （文章来源：证券日报） ...