Triangle Tire Successfully Listed on Shanghai Stock Exchange

On September 9, Triangle Tire Co., Ltd. was formally listed on Shanghai Stock Exchange, stock abbreviation: “Triangle Tire”, stock code: 601163, issue price: RMB 22.07 Yuan/share, IPO P/E ratio: 22.98, turnover rate: 0. In the call auction period, it rose by 19.98% and reached RMB 26.48 Yuan with 4,800 shares successfully transacted. The amount of transaction was RMB 141,414 Yuan. After the opening quotation, Triangle Tire immediately rose to the upper limit undoubtedly, which increased by 44% and reached RMB 31.78 Yuan.

Ding Yuhua, the president of Triangle Group, indicated that this listing was another new start for the development of Triangle. Standing on the capital market, this company will unswervingly implement the global brand strategy, actively promote the low carbon development, intelligent production and green consumption, and keep pace with the global development. Triangle Tire will seriously adhere to the philosophy that the scientist is the future, the highland and the fortune creator and technology is the driving force and source of development. Meanwhile, this company will lead the future development with the concept of talent development and innovate the development road with the spirit of integrity and perseverance. Triangle Tire will seriously perform the social responsibilities and continuously march towards brand development stably.

It is learnt that before this issue, the total capital stock of Triangle Tire was 600 million shares. Based on 200 million shares, the total capital stock after the issue was 800 million shares. The shares issued this time accounted for 25% of the total capital stock after the issue. The total funds of Triangle Tire raised from this issue were RMB 4.414 Billion Yuan, all of which were from the issue of new shares to raise funds. The net amount of the raised funds was RMB 4.285 Billion Yuan. After the issue, the net asset value per share was RMB 8.97 Yuan, and the earnings per share were RMB 0.96 Yuan. The funds will be invested in the removal, upgrading and transformation project with annual output of 2 million units of high-performance intelligent all-steel truck radial tires and the transformation and upgrading project with the annual output of 8 million units of high-performance passenger car tires in Nanhai New Area.

In the mid-year report of Triangle Tire in 2016, as at June 30, the total assets of the company were RMB 9.59 Billion Yuan, the total liabilities were RMB 6.47 Billion Yuan, and the shareholders’ equity was RMB 3.119 Billion Yuan. From January to June, the realized operating income of the company was RMB 3.325 Billion Yuan, which decreased by 12.98% on year-on-year basis; and the net profit attributable to the parent company shareholders was RMB 388 Million Yuan, which increased by 1.87% on year-on-year basis.

In the Top 75 Global Tire Ranking List of 2016 issued by American Tire Business on August 28, Triangle Tire ranked 15th by USD 2.4377 Billion. It is predicted that from January to September 2016, the realized operating income of the company will be RMB 5 Billion Yuan ~ RMB 5.3 Billion Yuan, which will decrease by 3.11%~8.59% compared with that in the same period of last year; the net profit attributable to the parent company shareholders will be RMB 550 Million Yuan ~ RMB 650 Million Yuan with a year-on-year change of -3.34%~14.24%; and the net profit attributable to the parent company shareholders after deducting the non-recurring profit and loss will be RMB 530 Million Yuan~ RMB 630 Million Yuan with a year-on-year change of -3.64%~14.55%.

Founded in 2001, Triangle Tire Co., Ltd. is engaged in commercial car tires, passenger car tires, engineering radial tires, giant tires, special tires, etc. So far, it has established the global cooperation relationship with such companies as Caterpillar, Terex, Doosan, Hyundai and Volvo and became a global strategic partner of such companies as Goodyear and Volvo with the annual production capacity of 23 million units. This company was granted the title of “Excellent Supplier” by China National Heavy Duty Truck Group Co., Ltd., FAW, Shaanxi Automobile Group Co., Ltd., etc. Since 2010, it has successively won a prize in the Caterpillar Supplier Quality Evaluation Project, including the Platinum Prize, the highest award, for three times. So far, Triangle has registered its trademark in main countries and regions in the world.

It is as early as 2000 that the brand of “Triangle” was recognized as the Chinese Well-known Trademark. The all-steel radial tire products were granted the title of Chinese Famous Brand Product by the State Administration of Quality Supervision, Inspection and Quarantine in 2004. In 2008, the “Complete Set of Production Technology & Equipment Development of Giant Engineering Radial Tires” Project of the company won the first prize in the national technical progress award, which is the highest technical prize in the Chinese tire industry since the establishment of the New China.

The market network of Triangle Company spreads over more than 170 countries and regions in the world, in which those exported to such areas as North America, Europe and Australia made up about 35%. It has established branches in such areas as North America, Europe, Russia and India. Meanwhile, it has also established the R&D Center in North America. In China, it provides supporting services for more than 50 automobile manufacturing enterprises including China National Heavy Duty Truck Group Co., Ltd., FAW, Dongfeng Motor Co., Ltd., CIMC, King Long, Yu Tong, SGM, Chery, Changan, Nissan, Lingong, SEM and XCMG.