Wanli Tire plans IPO to fund Malaysia green tire plant and Cambodia expansion

Chinese tire manufacturer Wanli Tire has filed for an initial public offering on the Shenzhen Stock Exchange’s main board, aiming to raise up to Yuan 2 billion (€258 million) to fund overseas expansion. The funds will be split across five projects, with the largest allocation—Yuan 930 million—earmarked for a high-performance green tire production base in Malaysia. Another Yuan 180 million will go toward a new manufacturing plant in Cambodia, while Yuan 310 million is designated for an upgrade of the company’s R&D center. An additional Yuan 180 million is slated for expanding Wanli’s Conghua production base, and Yuan 400 million is reserved for working capital. The investments align with Wanli’s strategy to strengthen its global footprint, improve production intelligence, and enhance operational efficiency. The company plans to establish a Malaysian subsidiary in which it will hold a 70% stake, though further details about the project were not disclosed. Wanli reported a 16% year-on-year revenue increase in 2025, reaching Yuan 70.3 billion, while net profit rose marginally to Yuan 419 million from Yuan 417 million in the prior year.