玲珑轮胎(601966.SH)：预计明年上半年能够实现满产

Core Viewpoint - Linglong Tire (601966.SH) has successfully established its first overseas base in Thailand within 11 months, while the second base in Serbia is facing delays due to various challenges, but is expected to ramp up production by mid-next year [1] Group 1: Overseas Expansion - The first overseas base in Thailand was completed from foundation to product rollout in just 11 months [1] - The second overseas base in Serbia is experiencing a longer construction period and increased investment intensity due to pandemic and geopolitical factors [1] Group 2: Production and Profitability - The construction and capacity ramp-up of the Serbia base are progressing as planned, with full production expected in the first half of next year [1] - The company aims to achieve profitability quickly as production capacity continues to be released and sales scale increases [1] Group 3: Market Positioning - The increasing tariff barriers imposed by the EU on Chinese products are expected to enhance the local manufacturing and service advantages of the Serbia base [1]