The first three quarters reports released by Guizhou Tyre Co., Ltd. shows that its two projects under construction, the phase III of all-steel radial tires in Zhazuo County, Guiyang City and the annual production of 1.2 million all-steel radial tires in Vietnam, have increased investment more than RMB 400 million yuan by 192.26% compared with the end of 2019.

At present, the Zhazuo project has completed all main parts of the single building, and the equipment is being installed and debugged. The Vietnam project is in the process of plant construction and boiler equipment installation. Some equipment, such as air compressors, has arrived on site.

The total investment in Vietnam’s project is RMB 1.434 billion yuan. Guizhou Tyre intends to raise RMB 1 billion yuan (including issuance cost) for project construction through a non-public issuance of stocks. It is currently awaiting approval from the China Securities Regulatory Commission (CSRC).