Zhongtong Expects its Net Profits to Rise By 221%-226%

On Friday night, Zhongtong Bus released a report, showing that the company realized a net profit of 71-74 million in the third quarter in 2014, up by 75%-83% year on year. From Jan. to Sept., the bus maker estimates its net profit to stand at 275 million-279 million, up by 221%-226%.

According to the company, it sold its entire shares of Xinjiang Zhongtong Real Estate Co., Ltd. in 2013, with all the income 190 million RMB calculated into this year’s profits. 180 million RMB of the profits were treated as the net profits for the parent company. In addition, the company received a rising number of orders, which contribute significantly to its marked rise of profits in the first three quarters of 2014.