Core Viewpoint - Zhongce Rubber, a leading domestic tire manufacturer, has officially initiated its IPO process, planning to issue approximately 87.45 million shares, accounting for 10% of the total post-issue share capital, with an expected listing date on May 23, 2025 [1][4]. Group 1: Company Overview - Zhongce Rubber was established in 1958 and has evolved into a major player in the tire industry, providing products for top domestic automakers such as FAW, BYD, and Geely, while also expanding its overseas market presence, with nearly half of its revenue coming from international sales [6][7]. - The company has a diverse brand portfolio, including well-known names like "Chaoyang," "Good Luck," and "Westlake," and has built a robust marketing network that spans most countries and regions globally [7]. Group 2: Financial Performance - From 2021 to 2023, Zhongce Rubber's revenue increased from 30.60 billion yuan to 35.25 billion yuan, while net profit rose from 1.38 billion yuan to 2.64 billion yuan. In 2024, the company is projected to achieve a revenue of 39.26 billion yuan and a net profit of 3.17 billion yuan, reflecting a growth rate of 30.73% [6]. - According to the 2023 global tire company rankings published by Tire Business, Zhongce Rubber ranks eighth globally with tire sales amounting to 4.38 billion USD [6]. Group 3: IPO and Fundraising - The IPO is expected to raise approximately 4.85 billion yuan, which will be allocated to five major projects aimed at upgrading the tire industry, including the establishment of a green 5G digital factory for high-performance radial tires and enhancements to the high-end green tire manufacturing chain [11]. - The listing marks a significant milestone in the company's development and signifies a new phase for the Chinese tire industry, with the potential to strengthen Zhongce Rubber's leading position in the global market [13].