Qingdao Doublestar has received final approval from the China Securities Regulatory Commission (CSRC) to proceed with its restructuring of Kumho Tire, marking the conclusion of a decade-long acquisition process.
Qingdao Doublestar to Execute Dual-Brand Strategy Following Kumho Integration
Announced on March 27, 2026, the regulatory clearance follows a successful review by the Shenzhen Stock Exchange (SZSE) M&A Committee in February, permitting Qingdao Doublestar to officially absorb a 45 per cent stake in the South Korean manufacturer valued at approximately $708.2 million.
The transaction represents two historic milestones for the Chinese automotive sector as the first domestic listed company to acquire another listed enterprise and the first successful cross-border takeover of an overseas listed tyre firm.
The consolidation of Doublestar and Kumho creates a new industry giant, positioning the combined group within the global top ten tyre manufacturers. This final regulatory stage follows a turbulent history that Doublestar previously described as one of the most “torturous” and “bizarre” cross-border deals.
The relationship began in 2016 when the Korea Development Bank put Kumho Tire up for sale following the collapse of the Kumho Asiana Group. An initial bid by Doublestar failed due to legal disputes over trademark rights, but the deal was eventually restructured in 2018 when Kumho faced liquidation.
Following a vote by South Korean labour unions, the Doublestar Group parent company invested $607 million to rescue the firm. Since then, Kumho Tire has returned to profitability by focusing on high-end electric vehicle tyres and smart manufacturing, operating as a separate entity from its Chinese owner until now.
The CSRC approval allows Qingdao Doublestar Co Ltd to integrate Kumho‘s assets into its listed portfolio, facilitating a global dual-brand strategy. Under the new structure, Kumho Tire will be positioned as the premium brand, while Doublestar focuses on the value and commercial tyre segments.
