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Recently, Xiamen-based King Long Motor released a report about its performance in the first half of 2014. It is revealed that the bus maker"s operating income totaled 9.224 billion RMB, down by 6.81% year on year. Its net profit attributable to shareholders of listed companies stood at 80 million RMB, up by 25.54%. After deducting the non-recurring gains and losses, its net profit attributable to shareholders of listed companies reached 62 million RMB, up by a whopping 108.32% year on year. Its basic earnings per share was 0.18 RMB, up by 28.57% year on year.
According to the data released by China Passenger Vehicle Association, the sales of large- and mid-buses went down by 10.3% while the light buses went up by 9.2%. In comparison, King Long Motor"s overall sales jumped by 9.1% year on year in the same period. Its growth was mainly driven by the sales of its light buses, whose sales volume stood at 22,506 units, up by 36.33%. The performance of its light buses is much better than the overall industrial average. However, the sales of its large- and mid-buses went down by 13.1%.
In the first half of 2014, King Long Motor realized an export revenue of 2.234 billion RMB, up by 38.94%. Its overseas sales accounted for 24.85% of its total sales income in the same period. It is also noted that the percentage of its export income went up by 5.25 percentage when compared with the overall percentage of its export to its total income in the previous year. The rise of its export income is mainly attributed to the company"s strengthened efforts in exploring its overseas markets.