Core Viewpoint - Hai'an Group successfully listed on the Shenzhen Stock Exchange with an issue price of 48.00 yuan per share and a price-to-earnings ratio of 13.94 times [1] Group 1: Company Overview - Hai'an Group is the largest all-steel giant tire manufacturer in China and one of the top four manufacturers of giant engineering radial tires globally [2][4] - The company was founded in 2005 by Chairman Zhu Hui, who aimed to address the domestic production challenges of all-steel giant tires, which were previously dominated by foreign giants [2] - After 20 years of development, Hai'an Group has achieved annual revenue exceeding 2 billion yuan and has successfully mass-produced a full range of all-steel giant tire products, breaking the monopoly of three major international brands [2] Group 2: Strategic Importance of IPO - The IPO is strategically significant for Hai'an Group, enabling the expansion and upgrading of production equipment, improving processes, and breaking through capacity bottlenecks [3] - The listing will attract more talented individuals in the industry, enhancing the company's overall R&D capabilities and laying a solid talent foundation for long-term development [3] - It will also increase the company's brand awareness in the domestic and international all-steel giant tire industry, facilitating market share expansion and new customer acquisition [3] Group 3: Market Position and Financial Performance - The global market for all-steel giant tires is dominated by three major brands (Michelin, Bridgestone, and Goodyear), which hold over 80% of the market share [5] - Hai'an Group has been recognized for its continuous R&D investment and technological innovation, filling the gap in China's all-steel giant tire manufacturing and expanding its market influence [5] - The company's main business includes the R&D, production, and sales of giant all-steel engineering radial tires, as well as the management of mining tire operations [5] Group 4: Financial Metrics - From 2022 to the first half of 2025, Hai'an Group's main business revenue was 1.457 billion yuan, 2.208 billion yuan, 2.244 billion yuan, and 1.030 billion yuan, respectively, with net profits of 319 million yuan, 639 million yuan, 641 million yuan, and 317 million yuan, indicating rapid growth and a stable development trend [6] - The gross profit margins during the same period were 38.04%, 46.63%, 48.17%, and 45.65%, showing an upward trend [6] Group 5: Production Capacity and Services - Hai'an Group has successfully developed and mass-produced a full range of all-steel giant tire products, with production capacity reaching 7,300 units and a utilization rate of 87.84% [8] - The company provides comprehensive lifecycle management services for mining tires, which significantly reduces operational costs and enhances efficiency [9] - The company plans to raise 2.952 billion yuan through the IPO for capacity expansion and automation upgrades, which will add approximately 22,000 units of production capacity [10][11]
全钢巨胎龙头海安集团 今日深主板上市
21世纪经济报道·2025-11-25 10:26