Recently, the 2024 SEMA SHOW in Las Vegas, USA, was grandly held. General Science (601500.SH) once again made a brilliant appearance, attracting numerous international customers with its high-cost-performance products and strong overseas expansion strategy, further solidifying its position in the global tire market.
This year's SEMA SHOW attracted over 161,000 attendees and 2,400 exhibiting companies from around the globe, making it a significant event for the automotive aftermarket. General Science (601500.SH) showcased its brands, including Celimo, TBB Tires, and Goodtrip, featuring a range of passenger and commercial vehicle tires tailored for the North American market. These included the highly acclaimed TBB Tires off-road tires TS-07 H/T, TS-37 A/T, Celimo's ultra-high-performance luxury car tire Salient CS580, and Goodtrip's comfortable and eco-friendly economy car tire GP-16. Additionally, the TBB Tires commercial vehicle tires KTX747, GR320, and GR100, launched for the North American market, drew the attention of numerous professional visitors.
During the exhibition, General Science's booth was bustling with visitors, and there was a steady stream of clients seeking cooperation. In addition to domestic U.S. clients, there were also international clients from regions such as Mexico and Indonesia, fully demonstrating the strong international appeal of General Science's products. The company's head of foreign trade stated that the event was highly fruitful, with multiple cooperation intentions achieved, far exceeding expectations. This success is attributed to General Science's precise understanding of the North American market demand and its cost-effective product strategy. Against the backdrop of consumption downgrade in the European and American markets, its competitive advantage is even more pronounced.
In addition to the inherent advantages of its products, General Science's proactive overseas expansion has also provided strong momentum for its performance growth. This year, the company's factories in Thailand and Cambodia have seen booming production and sales, with products being sold to multiple markets including North America and Europe. The Cambodian Phase I project achieved production ahead of schedule in May this year, the Thai Phase II project, which includes 10 million semi-steel tires, successfully started production at the end of June, and the Cambodian Phase II project is also expected to start production in the fourth quarter. Led by the company's "5X Strategy," General Science is actively advancing the construction of overseas bases, continuously enhancing its global production capacity and competitiveness.
From its Wuxi base in China to the overseas dual bases in Thailand and Cambodia, and to a global marketing network covering over 100 countries and regions, General Science has leveraged its forward-looking international perspective, keen market insight, and advanced intelligent manufacturing to achieve a continuous increase in orders and a significant enhancement in profitability. The company's net profit for the first three quarters increased by 139.49% year-on-year, demonstrating a strong growth momentum and a bright future outlook. With continuous innovation and a global focus, General Science is expected to maintain rapid growth in the future, creating greater value for investors.
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