中策橡胶：坚持技术创新、建设“未来工厂” 努力成为一流跨国轮胎制造企业

Company Overview - The company, Zhongce Rubber Group Co., Ltd., primarily engages in the research, production, and sales of various tire products, including all-steel tires, semi-steel tires, bias tires, and car tires, and is one of the largest tire manufacturers in terms of sales scale both domestically and internationally [5][12] - The company has established a strong brand presence with multiple well-known brands such as "Chaoyang," "Goodride," and "West Lake," and its products are sold across most provinces in China and exported to Europe, North America, Africa, Southeast Asia, and the Middle East [5][12] - The company has been recognized as a national high-tech enterprise and has received various accolades, including being listed among the top tire manufacturers globally [12][33] Financial Performance - The company's revenue for the reporting periods was as follows: 31.89 billion CNY in 2021, 35.25 billion CNY in 2022, and 39.25 billion CNY in 2023, with over 99% of revenue coming from tire product sales [18] - The net profit for the same periods was 1.22 billion CNY in 2021, 2.64 billion CNY in 2022, and 3.79 billion CNY in 2023 [21] - Research and development expenses were 1.26 billion CNY in 2021, 1.40 billion CNY in 2022, and 1.47 billion CNY in 2023, representing approximately 3.94%, 3.97%, and 3.75% of total revenue respectively [20] Technological Innovation - The company has established several innovation platforms, including provincial-level technology centers and research institutes, and has engaged in collaborative projects with universities and research institutions to enhance its R&D capabilities [6][17] - The core technologies include ground pressure distribution optimization, tension control technology, and the application of nanomaterials in tire manufacturing, all of which have been industrialized [14][28] - The company holds 1,362 domestic patents and 25 international patents, demonstrating its commitment to innovation [15] Market Position and Strategy - The company has a market share of 2.54% in 2021, 2.39% in 2022, and 2.58% in 2023, with expectations for growth due to new production lines and enhanced brand recognition [33] - The company aims to expand its market share through increased investment, technological innovation, and resource integration, while adhering to sustainable development principles [22][23] - Future strategic measures include leveraging various financing channels, enhancing brand development, and accelerating talent acquisition and training [25] Industry Context - The company operates within the rubber and plastic products industry, specifically in the tire manufacturing sector, which is experiencing a technological revolution focused on high-performance, environmentally friendly, and intelligent products [30][31] - The industry is supported by favorable policies, technological advancements, and a broad downstream market, presenting significant opportunities for growth [32] - The company is positioned as a leading player in the industry, ranked first in the China Rubber Industry Association's 2024 tire enterprise ranking and among the top ten global tire manufacturers according to Tire Business magazine [33] IPO and Fundraising - The company plans to issue up to 87.45 million new shares, accounting for no less than 10% of the total share capital post-issue, with the funds raised directed towards various high-performance tire projects and facility upgrades [39][40] - The management team is composed of experienced professionals with a strong background in the tire industry, ensuring effective execution of the fundraising projects [41]