[Linglong Tire: Plans to invest US$270 million to build Egyptian tire production base] On September 23, Linglong Tire (601966.SH) announced that the company plans to set up a wholly-owned subsidiary in Egypt as the main body of project implementation and invest in the construction of overseas tire production bases. The total investment of the project is US$270 million (equivalent to 1.835 billion yuan), and the construction period is 2 years. After completion, it will have an annual output of 6 million sets of semi-steel radial tires, with an estimated annual revenue of US$173 million and an annual net profit of US$34.6246 million. This investment is still subject to approval or filing by relevant domestic and foreign competent authorities.