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玲珑轮胎(601966.SH):拟赴港上市,国产轮胎龙头能否获得青睐?
智通财经网· 2025-04-28 10:24
Group 1 - The core viewpoint of the article is that Linglong Tire is advancing its "7+5" global strategy and plans to list H-shares in Hong Kong, which is expected to enhance its financing channels and support its international business development [1][9] - Linglong Tire's main products include passenger and light truck tires, truck and bus tires, and off-road tires, with a market presence in 173 countries. The company has shown stable revenue growth, with year-on-year increases of 18.6%, 9.4%, and 12.92% for the years 2022, 2023, and Q1 2025 respectively [2][5] - The company has experienced fluctuations in profit, with net profits of 1.391 billion, 1.752 billion, and 341 million yuan for the same periods, attributed to product and market structure adjustments, leading to a decline in gross margin to 15% [2][4] Group 2 - Linglong Tire is enhancing its product competitiveness through innovation and a diversified brand matrix, with new products launched in 2024 and 2025 achieving high market recognition [4][5] - The company is implementing its "7+5" global strategy, establishing seven production bases in China and five overseas, including a factory in Serbia that is expected to reach a design capacity of 12 million semi-steel tires and 2.4 million all-steel tires by 2025 [4][5] - The company is also investing 1.19 billion USD (approximately 8.71 billion yuan) in a new factory in Brazil, which is projected to further enhance its production capacity and growth expectations for 2026 [5][6] Group 3 - The global tire industry has been steadily growing since 2020, with a market size reaching 1.784 billion units in 2023, primarily driven by replacement market demand [6][7] - Linglong Tire is positioned well within the industry, with 36 Chinese companies, including Linglong, ranking among the top 75 global tire manufacturers, reflecting the increasing competitiveness of domestic brands [7][8] - The company has been actively expanding its presence in the high-end market, securing partnerships with major automotive brands and enhancing its reputation as a quality supplier [8][9] Group 4 - Linglong Tire has a stable dividend policy, distributing a total of 0.367 yuan per share in 2024, with a planned dividend of 0.07 yuan per share in Q1 2025, maintaining a payout ratio of 30% [8][9] - The company's market capitalization has significantly increased, with a premium of over 90% for investors holding shares since the beginning of the year, leading to a total shareholder return exceeding 100% [8][9]
理想为何看不上国产轮胎?
阿尔法工场研究院· 2025-03-05 13:18
以下文章来源于车与轮店主联盟 ,作者Sky 车与轮店主联盟 . 《车与轮》有车与轮新媒体矩阵和《轮胎经销商》杂志,汇聚轮胎行业50万人。主导《奚仲奖评选》、《中国轮胎测试排行榜》、《车与轮选胎指南》、 《中国轮胎10大人物评选》。《年度颁奖盛典—奚仲奖》被誉为中国轮胎行业奥斯卡。 作 者 | Sky 来源 | 车与轮店主联盟 导语:这种"既要国产化红利,又要洋品牌光环"的做派,到底是谁在拖中国工业的后腿? 近日,理想汽车产品线总裁汤靖表示:"短期内不会将国产轮胎作为标配。"这一言论,无疑是对国产轮胎行业的一种"轻视",也让我们不禁要问: 国产轮胎,真的就那么不堪吗? 其实,国产轮胎早已不是吴下阿蒙,从超跑到国民车,从技术专利到全球销量,中国轮胎企业用实力打脸偏见。 今天,我们有必要为国产轮胎正名,也请部分国内企业收起傲慢与偏见,睁开眼看看这个早已换了剧本的行业! 原配市场逆袭:国产轮胎 早已打入"国际大厂核心圈" 赛轮液体黄金轮胎与小米汽车联合研发,用新材料技术重新定义新能源车配套标准; 森麒麟为百万级超跑昊铂SSR定制轮胎,让国产轮胎首次站上性能鄙视链顶端。 玲珑轮胎成功为宝马2系和奥迪A3提供轮胎配套服务 ...