On June 23, 2026, according to the official disclosure of the Shenzhen Stock Exchange, Wanli Tire Co., Ltd. (hereinafter referred to as “Wanli Tire”) main board IPO application has been officially accepted, and the company has entered the A-share listing review process.
Wanli Tire was founded in December 2004 and is headquartered in Conghua District, Guangzhou City. It is a secondary enterprise directly affiliated to Guangzhou Industrial Investment Holding Group Co., Ltd. Its development history can be traced back to Guangzhou South China Rubber Tire Co., Ltd. established in 1988. It is the first large state-owned enterprise in China to introduce professional technology to produce a full range of radial tires.
The actual controller of the company is the Guangzhou Municipal State-owned Assets Supervision and Administration Commission, the direct controlling shareholder is Guangzhou Wanli Group Co., Ltd., with a shareholding ratio of 52.98%, and the indirect controlling shareholder Guangzhou Industrial Investment Holding Group directly and indirectly controls 77.84% of the company’s shares.
At the main business level, Wanli Tire is deeply involved in the entire chain of tire R&D, production, sales and service. It has a national enterprise technology center, a CNAS nationally recognized laboratory and a postdoctoral research workstation. Its core products cover all-steel radial tires (mainly suitable for heavy-duty trucks) and semi-steel radial tires (mainly suitable for heavy trucks).
Passenger cars and light trucks), it owns many well-known brands such as Wanli, Diamond, Wanlixing, R&F, SUNNY, and APTANY. Its product matrix covers a full range of scenarios such as environmental protection, comfort, racing, sports, SUV, off-road, light-duty, run-flat, wear-resistant, ice and snow, and new energy vehicle tires.
At present, its sales network covers all provincial administrative regions in the country, and its products are exported to more than 150 countries and regions around the world. It is also a cooperative supplier of more than 20 leading OEMs such as GAC, BYD, Dongfeng, Chery, and Beijing Hyundai, providing original supporting services for more than 80 mass-produced models.
In terms of production capacity layout, Wanli Tire has currently established three major production bases in Conghua, Hefei and Cambodia, with an annual production capacity of 39.2 million radial tires.
Among them, the Conghua base is the largest single semi-steel radial tire factory in China, with an annual production capacity of up to 30 million units; the Hefei base focuses on the production of all-steel radial tires; the first phase of the Cambodian overseas factory in Southeast Asia has been officially put into production in January 2026, with an annual production capacity of approximately 6 million units. It is expected that the annual production capacity will increase to 12 million units after full production is reached by the end of 2026, and overseas supply capacity will double.
Operating data shows that Wanli Tire will achieve operating income of 4.336 billion yuan in 2024; in 2023, the company’s production and sales will increase by 18.77% and 19.42% year-on-year respectively, revenue will increase by 15.51% year-on-year, and profits will increase by 292 million yuan year-on-year. It has successfully ranked among the top 50 global tire companies. The compound growth rate of operating income in the past three years has reached 20%, and the growth momentum is strong.
In terms of industry status, Wanli Tire was successfully selected into the list of “Technological Reform Enterprises” of the State-owned Assets Supervision and Administration Commission of the State Council in 2024. It ranked 18th in the list of Chinese tire companies in 2025 and 41st in the list of the top 75 global tire companies in 2025. It was also among the first batch of “green factories” recognized by the country.
For this impact on the main board of the Shenzhen Stock Exchange, Wanli Tire has completed a number of core preparatory tasks during the counseling period: First, in April 2026, it obtained the approval of the Guangzhou State-owned Assets Supervision and Administration Commission on the management plan for state-owned shareholder identification, clearing the relevant obstacles for state-owned assets approval; second, in accordance with the new ”
The Company Law requires that the governance structure be upgraded, the board of supervisors be abolished, and the audit committee of the board of directors be established, so that the governance system becomes more compliant and improved; third, the direction of fundraising is clarified. The funds raised this time will focus on the two major sectors of research and development of special tire technology for new energy vehicles and the construction of overseas bases.
In the current fastest-growing field of supporting new energy vehicles, Wanli Tire has an early layout and sufficient technical reserves. As early as 2021, it pioneered special tires for “EV” new energy vehicles. Currently, it has successfully supplied 15 leading OEMs such as BYD and GAC, with cumulative sales exceeding 3 million units.
In April 2026, GAC Esafety’s new model N60 was launched. As the only tire supplier invited, Wanli Tire’s exclusive supporting product SP022EV equipped with original “variable pitch staggered frequency technology” and “3D self-guiding technology” was simultaneously unveiled, attracting great attention from the industry.
China’s tire industry is currently in a critical window period for transformation and upgrading. The demand for new energy vehicle tires continues to increase, and globalization has become the core development strategy of leading domestic tire companies.
Whether Wanli Tire can use the capital support from this IPO to further expand its production capacity advantages, strengthen technical barriers, and ultimately achieve the long-term strategic goal of “10 billion tires” has also become the focus of common attention of the industry and the market.
