On March 21, first all-steel radial tire of Shandong Yousheng Tire Limited Company was produced successfully.

With a floor area of 280mu, this project plans to invest 1 Billion Yuan in total, in which the investment of first phase is 500 Million Yuan. It is planned that in this June, the daily output of tire will reach 3000 units and the annual capacity will reach 1.20 million units and it is predicted that by the end of this year, the daily capacity will reach 6000 units and the annual capacity will reach 2 million units.

Founded in June 2019, Shandong Yousheng Company won the auction of the assets of Shandong Guopeng Rubber Co., Ltd. at a price of 117 Million Yuan in August 2019. On the basis of the equipment of the original Guopeng Rubber Company, it invested another 300 Million Yuan to purchase the latest production equipment to realize high-precision automation in production.