Himile: Chinese overseas tire expansions driving up mould demand

Gaomi, China – Himile Mechanical Science & Technology has linked the rapid growth of its tire mould business to the accelerating capacity expansion of Chinese tire makers, particularly their recent wave of overseas plant investments.

In a 9 Sept investors update, Himile reported a first-half revenue of Yuan6 billion (€770 million), up 14.3% year-on-year, while net profit attributable to shareholders declined 5.3% to Yuan1.13 billion.

The decline in earnings, explained Himile, reflected a significant swing in foreign-exchange effects: Himile recorded exchange losses of Yuan102.3 million in the first half of 2026, compared with exchange gains of Yuan66.3 million a year earlier.

In particular, the Shandong group posted strong growth in its core tire mould operation during the six months to 30 June.

Tire mould sales increased 19.7% year-on-year to Yuan3.15 billion, but segment margin fell 3.72 percentage points to 36.49%.

The decline, Himile said, reflected the combined impact of project expansions, increased employee numbers and labour costs, as well as exchange-rate movements.

Himile said demand from Chinese customers had grown strongly in recent years, with domestic and overseas customers now each accounting for roughly half of the business by value.

Sales of tire curing press for the first six months stood at Yuan344 million, with the business supplying both electrically heated and steam curing presses.

The group did not provide prior-year sales figures for curing presses but said orders for electric units covered upgrades to existing production lines as well as new machines.

Commenting on the business environment, Himile noted that Chinese tire manufacturers have continued to increase their brand influence and market share globally in recent years

Leading Chinese manufacturers, it continued, have stepped up capacity deployment and “intelligent” manufacturing upgrades.

In response to this growth, Himile said it has “actively” pursued overseas factory construction since 2023, with the scale and concentration of the projects “significantly higher than in previous years.”

In particular, the Chinese machinery maker noted “rapid development” of the tire mould industry, due to the expansion wave.

The Chinese group, however, cautioned that recently announced tire capacity would take time to ramp up.

Furthermore, slower global economic growth, geopolitical tensions, rising raw-material prices and changes in international trade policies could affect tire makers’ investment schedules and the pace at which new capacity comes onstream, Himile said.

These factors, it cautioned, could ultimately affect both the timing and overall volume of tire mould orders.