No Data
Prinx Chengshan's US Unit Recalls Snow Tires Over Safety Issue; Shares Fall 3%
PRINX CHENGSHAN (01809.HK) has recalled over 0.54 million snow tires in the North American region.
PRINX CHENGSHAN (01809.HK) announced that its wholly-owned subsidiary PRINX CHENGSHAN Tire North America has notified the USA Department of Transportation's National Highway Traffic Safety Administration about a voluntary safety recall of some Fortune Tormenta and PRINX Hicountry tires sold as replacement tires. These tires are labeled as snow tires according to the United Nations Economic Commission for Europe Regulation No. 117 "Uniform provisions concerning the approval of tires with regard to rolling noise and/or wet grip and/or rolling resistance," but they do not comply with Federal Motor Vehicle Safety Standard No. 139 "New pneumatic tires for light vehicles."
Prinx Chengshan Announces Major Tire Recall in North America
Prinx Chengshan (1809.HK): The overseas production capacity layout is taking shape, and the quality of earnings is steadily improving.
Earnings forecast and investment rating: We expect prinx chengshan's net income attributable to the parent company to be 1.252 billion yuan and 16.01 billion yuan in 2024 and 2025, respectively. Based on comparable company valuations in the industry, considering the Hong Kong stock market.
Prinx Chengshan (01809.HK): The US Department of Commerce has confirmed that the final dumping rate of its Thai subsidiary is 12.33%.
Prinx Chengshan (01809.HK) announced that it has recently learned that the U.S. Department of Commerce has finally determined that the final dumping rate applicable to its wholly-owned subsidiary Prinx Chengshan Tire (Thailand) Co., Ltd. is 12.33%. Prinx Chengshan stated that although the final affirmative determination by the U.S. International Trade Commission is expected to be made on the 25th of this month and an order issued on December 2 this year, the U.S. International Trade Commission has ruled that an industry in the United States has suffered significant damage from truck and bus tires imported from Thailand, these tires were being imported to the United States by the U.S. Department of Commerce.
Sealand: High-end transformation is the key factor of the next wave of tire opportunities.
After experiencing the first differentiation achieved through overseas base layout, domestic tire companies are very likely to usher in the second differentiation marked by high-end transformation.
