农民工逆袭照进现实！62岁“闽商”靠卖轮胎干出一个IPO

Core Viewpoint - The article highlights the success story of Hai'an Rubber, founded by Zhu Hui, who transitioned from a tire repairman to the CEO of a company with annual revenue of 2.3 billion yuan and net profit of nearly 700 million yuan, positioning it as the third-largest global manufacturer of all-steel giant tires [3][9][19]. Group 1: Company Overview - Hai'an Rubber specializes in the production of all-steel giant tires used in heavy machinery and mining vehicles, with a significant portion of its revenue coming from overseas sales [7][9]. - The company has achieved impressive revenue growth, with projections showing an increase from 1.5 billion yuan in 2022 to 2.3 billion yuan in 2024, and net profit rising from 354 million yuan to 679 million yuan during the same period [9][19]. - Hai'an Rubber's primary revenue source is the sale of all-steel giant tires, which accounted for approximately 74.01% of total revenue in 2024, while the tire operation management business contributed 25.99% [6][8]. Group 2: Market Position and Clientele - Hai'an Rubber is recognized as the third-largest player in the all-steel giant tire market, following Michelin and Bridgestone, and is capable of producing a full range of giant tire specifications [9][19]. - The company has established strong relationships with major clients such as Zijin Mining and XCMG, with revenue from the top five clients increasing from 655 million yuan to 1.29 billion yuan, representing 57.58% of total revenue by 2024 [9][10]. - A notable aspect of Hai'an Rubber's business model is the dual role of some clients as both shareholders and customers, which has raised questions about potential conflicts of interest [10][14]. Group 3: Founder’s Journey and Financials - Zhu Hui, the founder of Hai'an Rubber, started his career as a tire repairman and founded the company in 2005 after returning to his hometown, marking a significant shift towards manufacturing giant tires [16][17]. - Zhu has successfully monetized his stake in the company, cashing out over 350 million yuan through equity transfers and dividends between 2020 and 2022 [18][19]. - The company is currently preparing for an IPO, aiming to raise 2.952 billion yuan, with over 80% of the funds allocated for expanding production capacity [19].