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The latest products are displayed in the exhibition hall of the corporate offices of Double Coin Group (Jiangsu) Tyre Co Ltd. [Photo/WeChat account: RGETDZ]

Double Coin Group (Jiangsu) Tyre Co Ltd is a key corporate resident of the Rugao Economic and Technological Development Zone – located in Nantong city in East China's Jiangsu province – and has reported cumulative sales with an output value topping 30 billion yuan ($4.58 billion) and has made tax payments of more than 1 billion yuan since its establishment in the zone in November 2005.

Despite the COVID-19 pandemic which hit the global tire industry, the company achieved sales of 1.97 billion yuan from January to October, unchanged from the same period last year.

The company focuses on the improvement and development of heavy-duty tire products. In the first 10 months, 34 new products were developed and the heavy-duty capacity of its products was significantly improved.

According to officials, in 2020-2022 the company plans to invest 150 million yuan on technological renovations to its plant (check) and it is expected to complete the 80 million-yuan project by 2020.

The company is also active with its social duties. Last year, 15 million yuan was invested in a volatile organic compounds treatment project, which will start operating in November this year.