Prinx Chengshan Holdings Limited （1809.HK）

(Incorporated in the Cayman Islands with limited liability)

(Shandong, China, March 28, 2025) Prinx Chengshan Holdings Limited (“Prinx Chengshan” or the “Company”, Stock Code: 1809.HK), a global leader in tire manufacturing, today announced its 2024 annual operating results. Amid complex global economic conditions and cyclical industry challenges, the Company demonstrated unwavering resilience under the ethos of “Conquering Obstacles, Advaning Fearlessly”, achieving record-breaking revenue of RMB 10.97 billion, a 10.3% year-on-year increase. This milestone marks the Company’s entry into the RMB 10 billion revenue tier, underscoring its evolution into a global industry leader.

Resilient Growth: Steady Performance and Enhanced Profitability

In 2024, Prinx Chengshan delivered outstanding results:

Revenue Breaks RMB 10 Billion Milestone: in 2024, revenue reached RMB 10.97 billion (+10.3% YoY), with a compound annual growth rate (CAGR) of 13.3% since its 2018 IPO, reflecting robust operational resilience.

Profitability Soars: EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose to RMB 1.99 billion (+16.4% YoY), while profit attributable to shareholders surged 26.9% to RMB 1.31 billion. Basic earnings per share stood at RMB 2.06 (+27.2% YoY).

Global Sales Momentum: The Company sold 27.97 million tires (+11.7% YoY), with international markets contributing RMB 7.54 billion (+19.1% YoY), accounting for 68.7% of total revenue, a testament to its globalized footprint.

Passenger Vehicle Tires Lead Growth: Semi-steel tire sales (key products for passenger vehicles) reached 19.5 million units (+18.6% YoY), contributing 41% of revenue. Since 2018, the passenger vehicle tire segment has achieved a CAGR of 26.6%, far exceeding industry averages, driven by synergies in capacity expansion, channel optimization, and product innovation.

The Board of Directors proposed a final dividend of HKD 0.5 per share, reinforcing confidence in sustained growth through its progressive dividend policy.

Innovation Leadership: Technological Breakthroughs of Product Metrics Upgrades

Green Intelligence Sets Industry Benchmark

Award-Winning R&D: Two R&D projects received the Second Prize of Shandong Provincial Science and Technology Award for the Rubber Industry. Six technologies were certified as internationally advanced or domestically leading.

Sustainability Milestones: Multiple products obtained EU carbon emission and fuel consumption certifications. The premium brand PRINX’s truck tire “Fuelwise·SmartDrive” S01 achieved EU rolling resistance Class A standard, reducing fuel consumption by 8.28% in professional tests.

Strategic Expansion: Acceleration of Global Capacity deployment

To address global supply chain restructuring, Prinx Chengshan unveiled two major capacity expansion projects in 2025:

Malaysia Tire Production Base:

Located in the Kedah Rubber City, Northern Economic Corridor, which will strengthens Southeast Asian raw material access and logistics efficiency via the Malacca Strait.

Total investment: USD 380 million.

Annual capacity: 6 million semi-steel tires and 0.6 million all-steel tires.

Domestic Off-the-Road (OTR) Tire Project:

Situated in Shandong Rongcheng Green Tire Industrial Park,Total investment: RMB 1.17 billion.

Annual capacity: 840,000 high-performance engineering radial tires and 10,000 giant OTR tires.

Expected to fill gaps in domestic high-end engineering tire production, generating RMB 1.0 billion in annual output post-2029 ramp-up.

This diversified capacity strategy will establish a global supply chain network of “multi-base advanced manufacturing + efficient global delivery,” enhancing risk resilience and market responsiveness.

Future Outlook: Navigating Cycles with Tenacity, Embracing Responsibility

Amid slowing global economic recovery in 2025, Prinx Chengshan adopts the core strategy of “seeking stability amidst challenges, advancing through stability, and driving stability through progress”:

Dual-Engine Growth: Leverage market insights to fuel R&D innovation and brand elevation, expanding international market share.

Product + Service Excellence: Deliver premium products and superior service to enhance customer experience.

Sustainability Commitment: Externally promote green manufacturing and low-carbon transition; internally improve employee welfare, building a sustainable ecosystem.

“As Prinx Chengshan approaches its 50th anniversary, we remain steadfast in inheriting the spirit of ‘pragmatism and diligence’ while embracing innovation to overcome challenges,” stated Mr. Che Hongzhi, Chairman of Prinx Chengshan. “With a global vision and localized execution, we will continue creating long-term value for shareholders, customers, and society.”

Media Contact:

Investor Relations

Prinx Chengshan Holding Company Limited

Email: investor@prinxchengshan.com

Website: www.prinxchengshan.com

About Prinx Chengshan Holdings Company Limited

Prinx Chengshan Holdings Company Limited (Stock Code: 1809.HK) is a Cayman Islands-incorporated modern enterprise specializing in tire design, R&D, manufacturing, and sales. As one of China’s most influential tire companies, it currently operates production bases in Rongcheng, Shandong, and Chonburi, Thailand. The Company’s four brands—PRINX, Chengshan, Austone, and Fortune—cover all-steel radial tires, semi-steel radial tires, and bias tires for passenger, commercial, industrial, agricultural, and specialty vehicles. Committed to innovation, Prinx Chengshan delivers green, safe tire products and premium services, advancing intelligent mobility and sustainable lifestyles worldwide.