HWA FONG Business Summary

Hwa Fong Rubber Ind. Co., Ltd. (2109.TW) generates revenue through the integrated manufacturing and global distribution of rubber tires and tubes, operating under a dual-track model of Original Equipment Manufacturer (OEM) partnerships and independent brand sales via its "DURO" and "QUICK" labels. The company’s primary business segments are categorized into bicycle tires, motorcycle and scooter tires, specialty vehicle tires (including ATVs, golf carts, and industrial equipment), and light truck radials. Hwa Fong maintains a competitive edge by leveraging a long-standing technical alliance with Sumitomo Rubber Industries, which includes the licensing of the "DUNLOP" brand for specific markets and the strategic acquisition of manufacturing assets in North America to bolster its international footprint. Within the Taiwanese rubber industry, Hwa Fong competes directly with Cheng Shin Rubber (2105.TW), Kenda Rubber (2106.TW), and Nankang Rubber Tire (2101.TW). It occupies a high-value niche as a specialist in the two-wheel and specialty vehicle markets, positioning itself as a premium alternative to mass-market competitors through its diversified production bases in Taiwan, Thailand, and China. The company is currently led by Chairman Tseng Hsin-Cheng, who provides strategic direction and oversees the firm’s international capital investments. In a key executive transition effective March 11, 2026, Yoo Seung Minmun was appointed as General Manager, bringing extensive technical expertise from his previous tenure as the head of the Overseas Technical Service Department at Sumitomo Rubber Industries. This leadership change reflects Hwa Fong’s ongoing commitment to technical integration and manufacturing excellence. The management team also includes Vice President Chuang Chih-Yao, who directs operational logistics and regional subsidiary performance. Founded in 1945, the company’s governance is characterized by a stable board of directors that includes strategic representation from Sumitomo Rubber Industries, reinforcing a pedigree of industrial reliability and R&D-driven growth. This leadership structure is focused on modernizing production through automation and expanding the "DURO" brand’s presence in the high-growth European and North American aftermarket segments.