Historic approval: Qingdao Double Star absorbs Kumho Tire

February 5, 2026, became a landmark day for the entire Chinese tire industry: the Merger and Acquisition Committee of the Shenzhen Stock Exchange gave principled approval for the ambitious restructuring deal of Qingdao Double Star with the South Korean Kumho Tire. This event will go down in history as the first cross-border acquisition of a public company by a public company in the PRC, confirming Qingdao Double Star's commitment to improving asset quality and protecting the interests of shareholders (who have already expressed overwhelming support for the deal).

After completing the acquisition of 45% of Kumho's shares through the issuance of shares and cash payments, the company plans not only to eliminate the problem of intra-group competition but also to create a powerful global player through the integration of R&D, production networks, and strategic planning.