On April 12, 2014, with the establishment of the Shuangqin Group (Xinjiang) Kunlun Tire Co., Ltd. in the Midong Industrial Park in Urumqi City, the Xinjiang Kunlun Tire was officially married to Shanghai Double Money. The Double Money Co., Ltd. held a 51% stake in Xinjiang Kunlun Tire Co., Ltd. (abbreviated as "Xinkun Company") by way of capital increase subscription for 572 million yuan and became the controlling shareholder of Xinkun Company. After the capital increase, Xinkun Company was renamed as Shuangqin Group (Xinjiang) Kunlun Tire Co., Ltd. (referred to as “Shuangqin Xinkun Companyâ€) and became a registered capital of 940 million yuan and total assets of 2.3 billion yuan. It was composed of 9 shareholders. . This is a project for the industrial assistance of Xinjiang in both Shanghai and Shenzhen, and it is also the latest successful case for the autonomous region to promote the marketization of state-owned enterprises. “Shuangqin Xinkun Company will retain the Kunlun Tire brand,†said party secretary and deputy general manager Cu Zhengyu of Shuangqin Group Co., Ltd., briefing reporters on how to increase production capacity of Shuangqin Xinkun to an annual output of 2 million full-steel radial tires. At that time, 1.5 million of them will be Kunlun, and the remaining 500,000 will be double-money. Yang Guobo, general manager of Shuangqin Group (Xinjiang) Kunlun Tire Co., Ltd., said that Shuangqin Group invested 572 million yuan in capital, plus bank matching funds, will invest 1.2 billion yuan to build 1.2 million all-steel radial tire production lines for 2014 Construction started in the second half of the year and it will be put into operation in the first half of 2015. By 2020, it will reach 15 million production capacity. The two sides hope that in 3 to 5 years, Shuangqin Xinkun Company will be able to build 3 million steel radial tires, 1 million diagonal tires and 200,000 bias tires, achieving an annual sales income of 5 billion yuan. .
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