西北老牌轮胎企业兰州金刚轮胎有限责任公司（以下简称"金刚轮胎"）近期迎来重大战略转折。2026年1月5日，企业注册资本发生大幅变更，由1.008亿 元跃升至2.539亿元，增幅高达151.95%。这一资本运作的背景，是该公司总投资6.5亿元的改扩建项目取得实质性突破——搁置近二十年的全钢胎生产线 于2025年底全线贯通，首条全钢轮胎成功下线，标志着这家西北轮胎"独苗"正式按下"重启键"。 | 风险等级 | 风险说明 | 风险内容 | 更新时间 | | --- | --- | --- | --- | | 利好 | 注册资本增加 | 从"10080万元"增加到"25396.825396万元"，增加"15316.8 | 2026-01-05 | 二十载曲折路，6.5亿激活"沉睡"资产 金刚轮胎成立于2002年，前身是甘肃省轮胎厂。早在2003年，其占地600亩的厂区便已启动建设，原规划年产100万条斜交胎和60万条全钢胎。然而，受多 重因素掣肘，其全钢胎项目在完成60%建设进度后陷入长达近二十年的停滞，企业主要依靠斜交胎生产及贴牌维持生存，错失了全钢胎发展的黄金期。 转折点出现在2023年。通过与中化二建集团有限公 ...

Charles Zhuang 庄怀超 SFC CE: BTE209 微信: zhuangcharles; 电话: (852) 9748 7114; 10 Dec 2025 环球富盛理财有限公司 贵州轮胎 Guizhou Tire (000589.SZ) 越南三期顺利推进，拟在摩洛哥建设第二海外生产基地 Vietnam's third phase is progressing & To build a second overseas production base in Morocco 最新动态 ➢ 25Q1-Q3 公司归母净利润同比增长 50.55%。2025 年前三季度，公司实现营收 27.63 亿元，同比增长 3.54%；归母净 利润为 2.01 亿元，同比增长 50.55%；实现扣非净利润 1.86 亿元，同比增长 56.05%。2025Q3，公司实现营收 7.96 亿元，同比增长 1.44%；实现归母净利润为 4.50 亿元，同比下降 19.72%；实现扣非净利润 4.28 亿元，同比下降 20.72%。 动向解读 策略建议 ➢ 盈利预测。我们预测公司 2025-2027 年归母净利润分别为 6.12 ...

Core Viewpoint - Guizhou Tyre is making progress on its two major projects: the all-steel radial tire project with an annual capacity of 380,000 units and the semi-steel radial tire project with an annual capacity of 6 million units, aiming to enhance production capabilities and customer service [2]. Group 1: Project Updates - The first phase of the all-steel radial tire project, which has a capacity of 200,000 units, has reached operational status last year [2]. - The second phase of the all-steel radial tire project, with a capacity of 180,000 units, is still under construction [2]. - The first tire from the semi-steel radial tire project was produced in July this year, with sales expected to commence in the first quarter of next year [2].

Core Viewpoint - Guizhou Tyre Co., Ltd. has decided to postpone the expected operational date of its "Annual Production of 380,000 All-Steel Engineering Radial Tire Intelligent Manufacturing Project" from July 30, 2025, to March 31, 2026, due to the complexity of product specifications and the need for thorough testing and validation of equipment performance [1][3][4] Fundraising Overview - The company has issued 18,000,000 convertible bonds with a face value of RMB 100 each, raising a total of RMB 1,800,000,000, with a net amount of RMB 1,787,304,244.76 after expenses [1] - The funds are managed in dedicated accounts at various banks, ensuring compliance with regulatory requirements [2] Fund Usage Status - The original project of "Annual Production of 3 Million High-Performance All-Steel Radial Tires" was terminated due to feasibility changes, and the funds were redirected to the "Annual Production of 380,000 All-Steel Engineering Radial Tire Intelligent Manufacturing Project" [2] - As of June 30, 2025, the cumulative investment in the new project is RMB 140,944,030 out of a total commitment of RMB 180,000,000 [2] Reasons for Postponement - The postponement is attributed to the large product specification range and the lengthy development and validation cycles required for new products, necessitating a cautious approach to funding and project quality [3][4] Impact of Postponement - The delay does not affect the project's implementation subject, location, investment purpose, or total committed investment amount, and is not expected to significantly impact the company's current operations [4][5] Approval Process - The board of directors has approved the postponement, adhering to necessary approval procedures and regulatory compliance [5]

Core Viewpoint - Guizhou Tire Co., Ltd. has decided to postpone the expected usable status date of its fundraising project "Annual Production of 380,000 Steel Engineering Radial Tires Intelligent Manufacturing Project" from July 30, 2025, to March 31, 2026, due to the complexity of product specifications and the need for thorough development and testing [4][5][6]. Fundraising Basic Situation - The company issued 18 million convertible bonds with a face value of RMB 100 each, raising a total of RMB 1,800 million, with a net amount of RMB 1,787,304,244.76 received by April 28, 2022 [2]. Fundraising Usage Situation - The original project "Annual Production of 3 Million High-Performance Steel Radial Tires Intelligent Manufacturing Project" was terminated, and funds were redirected to the "Annual Production of 380,000 Steel Engineering Radial Tires Intelligent Manufacturing Project" [3]. - As of June 30, 2025, the cumulative investment in the fundraising project was RMB 1,407,944.03 million, with a total commitment of RMB 1,800 million [3]. Postponement Details and Reasons - The postponement of the project is attributed to the large product specification range and the lengthy development and validation cycle required for new products, which has delayed equipment procurement, installation, and debugging [3][5]. Impact of Postponement on the Company - The postponement is a cautious decision based on actual project implementation conditions and does not affect the project’s implementation subject, location, investment purpose, or total committed investment amount [5][6]. - The company will enhance supervision and management of fundraising usage to improve efficiency and expedite project construction [5][6]. Related Review Procedures - The board of directors has approved the postponement of the project, ensuring that necessary approval procedures were followed [6]. Sponsor Institution's Review Opinion - The sponsor institution has no objections to the postponement, confirming that it complies with relevant regulations and does not change the fundraising project direction [6].

Group 1 - The company held its ninth board meeting on July 18, 2025, with all nine directors present, including one participating via telecommunication [1] - The board unanimously approved the proposal to extend the expected usable status date of the "Annual Production of 380,000 Full Steel Engineering Radial Tire Intelligent Manufacturing Project" from July 30, 2025, to 2026 [2] - The extension was based on the current investment progress of the project and was confirmed by the sponsor, Guosen Securities Co., Ltd., with no objections raised [2]