Wang Xicheng & family

Early Life and Foundation

The Zhaoyuan Tire Manufacturing & Repairing Plant, the predecessor to Shandong Linglong Tyre Co., Ltd., was established in 1975. The firm faced financial difficulties in the mid-1980s due to outdated equipment and inefficient production methods. In 1987, Wang Xicheng reorganized the company into Shandong Linglong Tyre Co., Ltd., marking a turning point.

Rise to Success

After reorganization, Linglong Tire began producing passenger car tires and bias tires. During the 1990s, the company experienced rapid growth, with its annual production value increasing significantly. By 2008, the annual production value had reached 10.6 billion RMB. Linglong expanded internationally, establishing a plant in Thailand in 2012 and, later, in Serbia. Listing on the Shanghai Stock Exchange in 2016 further fueled expansion. The company has consistently focused on innovation, allocating approximately 4% of its annual revenue to research and development.

Key Business Strategies

Linglong Tire's key strategies include a strong emphasis on research and development, resulting in a wide range of tire products for different vehicle types. The company has expanded its manufacturing bases globally, including locations in China, Thailand, and Serbia. Linglong has also established a presence in the global market by exporting to 173 countries.

Philanthropy

While the specific amounts of Wang Xicheng's direct philanthropic contributions were not found in the search results, Linglong Tire has focused on sustainable practices such as the production of eco-friendly tires.