The company, formerly zirin tyres inc., was established as a targeted collection of equity enterprises, with the approval of the committee for the reform of the economic system by means of documents [1993] 335 and 503, co-sponsored by five entities, including the union of zirin corporations for limited liability. On 12 april 1999, the company issued 12 million shares of the rmb general unit at a nominal value of rmb 1 and a price of rmb 3. 36 per share to the general public, as approved by the csce in document [1999]37. With the approval of the stock exchange, the stock of the company was placed on the stock exchange on 7 may 1999. On 13 july 2003, jia tong tyres () wisdom limited auctioned 44. 43 per cent of the company's shares. In order to improve the company's capacity as soon as possible, the company's total assets and liabilities were replaced on 1 april 2004 by 51 per cent of the shares of jia tong tyres limited, owned by jia tong tyres singapore. On 18 may 2005, the name of the company was changed to “giti tire corporation” after consideration by the shareholders' assembly and approval by the ministry of commerce. The company currently has a total equity of 340 million shares, of which the controlling shareholders hold 151 million, or 44. 43 per cent, in foreign corporate equity, and the other corporate equity, or 5. 57 per cent, and the circulation of 170 million, or 50 per cent, in a. The company-owned gatung, an important export production base for the tyres, has continued to grow at a relatively high rate in recent years, adjusting its product structure to market conditions, continuing to extend to car flats, building on its strong research and development capacity and distribution networks, and a consistent spirit of pragmatism and creation, setting up a brand of high quality tyres and bringing about steady growth for those who choose wisdom。