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Yutong Bus (600066.SH) on March 25th disclosed its 2013 annual report, which showed that the operating income of Yutong in 2013 was 22.09 billion yuan, an increase of 11.8%; net profit 1.82 billion yuan, an increase of 17.6%, exceeding its stock incentive compensation sales targets.
According to annual data Yutong Bus, in 2013, its revenue increased by 30.49% compared with 2011, net profit 54.27%, substantially more than 23% of the equity incentive compensation.
In 2013, total sales of all kinds of Yutong buses reached 56,068 vehicles, an increase of 8.47%. Coaches are sold about 28,000, declined by 5.3%; buses 18,000, increased by 48.8%.
Concerning clean energy and new energy buses, Yutong Bus sold about 9,000 gas buses in 2013, an increase of 43 %. The total sales of new energy buses are 3897, an increase of 117.6%. Some analysts say that the 2014 sales of Yutong new energy buses are expected to exceed 8000.