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It is known from Anhui Ankai Automobile Co., Ltd. that Ankai has signed the purchasing contract with Hefei Public Transport Group on 20 September 2010, referring to total assets of 163 million Yuan.
Ankai electric bus
According to the contract, Ankai Bus will delivery 150 electric city buses (unit price: 1.087 million Yuan, battery fees excluded). The down payment is 60 million Yuan (400 thousand for per unit) and it will pay off within 5 working days after getting fiscal allotment.
The contract amount accounts for 7.44% of the audited operation income of Ankai Bus in 2009. Ankai Bus announced that this contract would not make great influence on the sales income and profits/losses in 2010 due to the similar level of gross profit ratio of electric bus and conventional bus.