Doublestar narrows loss as Cambodia plant ramps up

Qingdao, China — Qingdao Doublestar expects to narrow its net loss in 2025, supported by revenue growth and the ramp-up of its Cambodia plant, according to preliminary results reported in a recent stock exchange filing.

The Chinese tire maker forecasts a net loss attributable to shareholders of Yuan245 million - Yuan365 million (€30–45 million), compared with a loss of Yuan355.8 million a year earlier.

The company said annual revenue is expected to rise by more than 5% year-on-year, with fourth-quarter growth of about 9%, while overseas revenue is seen increasing by around 10%. The company did not provide sales figures.

Doublestar added that total annual profit is expected to increase by about 10%, with a stronger ~40% growth in the fourth quarter, driven by “product structure adjustments and the gradual ramp-up of the Cambodia factory.”

However, the company cautioned that its Cambodia PCR (passenger car tire) project has only recently reached full production and was still underperforming in terms of profitability.

“Although the Cambodia factory has already become profitable, its efficiency has not yet met expectations,” the company said, adding that rising raw material prices and exchange rate volatility continue to impact results.

Looking ahead, Doublestar said it will “continue to optimise its product structure” and expand in higher-end markets including Europe and the US, while working to “fully release” capacity at the Cambodia facility.

The group also plans to deepen synergies with its bias tire business and “strengthen its foundation, reduce costs and increase efficiency” to improve overall profitability.