As China’s tires move from “scale breakthrough” to “global competition,” Linglong Tire delivered an answer that combines resilience and foresight with a solid and steady 2025 financial report.
“Don’t worry about short-term fluctuations, only focus on long-term value.” This industry benchmark rooted in Shandong is embarking on a high-quality development path belonging to China’s intelligent manufacturing with “global layout, new energy leadership, and strong cash flow support.”
2025 is about accumulating strength and building a foundation, and 2026 is about making all-out efforts – the value realization period for Linglong Tire has arrived.
Stable chassis
Full of Resilience
In 2025, Linglong Tire’s overall operations will be stable and make progress, with core indicators improving across the board, demonstrating its solid foundation as an industry leader.
The annual operating income was 24.642 billion yuan, a year-on-year increase of 11.72%, and the revenue scale continued to expand.
Looking at the quarters, the first quarter was 5.697 billion yuan, the second quarter was 6.115 billion yuan, the third quarter was 6.349 billion yuan, and the fourth quarter was 6.481 billion yuan. “It has climbed steadily quarter by quarter, and the operating rhythm continues to improve.”
The assets and financial structure continue to be optimized. As of the end of 2025, Linglong Tire’s total assets were 47.375 billion yuan, a slight year-on-year increase of 0.62%; the net assets attributable to shareholders of listed companies were 23.100 billion yuan, a year-on-year “increase of 6.55%”. The net assets have steadily expanded, laying a solid financial foundation for “global expansion” and “technology research and development”.
The cash flow performance was particularly impressive. The net cash flow from operating activities for the year was 1.989 billion yuan, a year-on-year increase of 2.67%, maintaining a stable level for many consecutive years.
Abundant operating cash flow means that Linglong’s “strong main business hematopoietic ability and excellent repayment quality” are enough to support daily operations, production capacity construction and R&D investment. In the asset-heavy tire industry, this is the most hard-core safety cushion.
Against the background of raw material fluctuations in the industry, overseas production capacity climbing, and continued investment in R&D, Linglong’s profit scale has remained stable, with total profits of 1.542 billion yuan, net profit attributable to the parent company of 1.369 billion yuan, deducting non-net profits of 1.197 billion yuan, weighted average return on net assets of 6.10%, and basic earnings per share of 0.94 yuan. All indicators are within the reasonable range of the industry, and the ability to resist risks is outstanding.
Overall, Linglong Tire will have “steady revenue growth, high-quality assets, and abundant cash flow” in 2025. It will firmly hold on to its basic operating conditions in a complex external environment and pave the way for full development in 2026.
Positioning transition to global service provider
Relying on steady operations, Linglong Tire has completed its positioning upgrade from “domestic manufacturer” to “global green low-carbon tire service provider”, building a solid moat with its four core advantages of “technology, brand, supporting facilities and globalization”.
Linglong focuses on three major categories: passenger and light truck radial tires, truck and bus radial tires, and off-highway tires, covering all scenarios including passenger cars, commercial vehicles, and engineering machinery.
Relying on the six major brand matrix of Linglong, Atlas, and Leo, the products are exported to 173 countries and regions around the world, forming a “multi-level, global” brand layout.
“The supporting strength ranks firmly among the top echelons in the industry.” The annual report shows that Linglong has provided supporting services to more than 70 OEMs and more than 200 production bases around the world. Its partners include international brands such as Volkswagen, Audi, BMW, GM, and Ford, as well as domestic leading car companies such as Hongqi, BYD, Geely, and Chery. The commercial vehicle field covers giants such as MAN, Scania, and FAW Jiefang. The cumulative supporting tires exceed 300 million, achieving full coverage of global mainstream car series.
“The new energy track is the core highlight.” Linglong is deeply integrated with mainstream new energy car companies. With its exclusive technology of low rolling resistance, high silence and long battery life, it has been ranked first in China’s new energy vehicle tire supporting equipment for many years and has become the core choice of the supply chain in the electrification era.
“The global layout has entered a critical harvest period.” Linglong’s five domestic bases are in mature operation, intelligent transformation continues to deepen, and production efficiency and product yields are steadily improved; the three overseas bases are gradually developing and synergizing: the Thai base operates stably and continues to contribute overseas profits; the Serbian factory, as the first production base of Chinese tires in Europe, will steadily climb up and complete production capacity run-in in 2025; the Brazilian base is advancing in an orderly manner, further improving the layout of the American market.
From “product export” to “local manufacturing and local service”, Linglong Tire has effectively hedged trade risks, got closer to the core consumer market, and significantly improved its global response speed and comprehensive competitiveness.
The gradual improvement of the global production capacity and supply chain system has also given Linglong the underlying ability to transcend cycles and continue to grow, making it fully prepared to fully realize its growth potential in 2026.
2026 Work hard
Triple dividends
“The deep cultivation and foundation building in 2025 will also allow Linglong Tire to usher in a key window for all-round efforts and value realization in 2026. The resonance of the triple dividends will directly promote the implementation of high-quality growth.”
Concentrated release of production capacity dividends
“In 2026, the Serbian factory will achieve full production and increase efficiency, directly covering the high-end European market.
Avoiding tariff barriers has become Linglong’s new engine for overseas growth; the Thai base continues to optimize its product structure and its profitability has steadily increased; the Brazilian base has accelerated its construction progress and captured the increase in the South American tire market.
The coordinated efforts of domestic and foreign production capacity have supported the simultaneous increase of Linglong’s revenue scale and global market share.
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New energy supporting equipment is firmly at the forefront
“The penetration rate of new energy vehicles continues to increase, driving the growth of special wheels.
The demand for tires is exploding rapidly.
Linglong will continue to increase its sales volume of high-margin new energy tires by leveraging its first-mover supporting advantages and mature technology reserves, and its product structure will continue to upgrade to high-end and high-value-added products, driving the overall business quality to steadily improve.”
Structural optimization improves quality and efficiency
“Linglong will continue to promote high-end, green, and intelligent product upgrades, expand the market share of high-end brands, and increase high-end products.
Proportion of gross profit products.
The channel side deepens the new retail layout and improves the online and offline integrated service system; the production side achieves cost reduction and efficiency increase through formula optimization and smart factory transformation, and the operating efficiency of the whole chain is steadily improved.
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“At the same time, Linglong Tire will continue its stable financial policy, optimize its debt structure, reduce financial expenses, and support the implementation of long-term strategies and the improvement of shareholder value with solid financial fundamentals.”
The future is promising
“The global tire industry pattern is accelerating in its reshaping, and Chinese tires are moving from ‘followers’ to ‘leaders’. As a core representative of the industry, Linglong Tire is firmly at the forefront of industry development with its three core capabilities of technology research and development, global layout, and complete vehicle support.”
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“Today’s Linglong is no longer a traditional manufacturing company, but a comprehensive leader integrating global R&D, manufacturing, marketing, and services. Under the triple wave of the rise of new energy, localization of supply chains, and green and low-carbon trends, Linglong’s strategic investment in the past few years will gradually be transformed into tangible performance and value
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“2025 is a year for Linglong to lay a solid foundation and prepare for growth; 2026 is a year for Linglong to achieve breakthrough growth and realize value.
With the release of global production capacity, leading the new energy track, and continuous optimization of products and channels, Linglong Tire will achieve a comprehensive improvement in business quality in 2026.
, making steady progress towards the goal of being a world-class tire company.”
“From Shandong Zhaoyuan to 173 countries around the world, from supporting domestic products to serving the world, Linglong Tire goes through cycles with long-termism and defines the future with hard core strength.”
“2026 is a year of hard work, worth looking forward to.”
