E-MAIL
On April 4, Yutong released its 2015 Annual Business Report. According to it, the bus maker realized an operating revenue of 31.211 billion RMB in 2015, up by 21.31% year on year. In the meantime, the company"s net income attributable to shareholders reached 3.535 billion RMB, up by 35.31% year on year. The biggest highlight in 2015 is the sales of Yutong"s new energy buses, which grew by 176.1% year on year with a total sales volume standing at 20,446 units. Despite the declining bus sales across the globe, Yutong continued its growing momentum as it further strengthened its efforts in the overseas expansion.
In 2015, Yutong"s total sales volume of various types of buses stood at 67,018 units. Thanks to the explosive growth of new energy bus market, the bus maker made new breakthroughs in full electric buses.
According to Qunyi Securities, Yutong"s sales of 6-8-meter new energy buses accounted for over 40% of its overall new energy bus sales in 2015 thanks to the enticing subsidies from governments. This year, governments" subsidies to 8-meter buses and all other environmentally friendly buses with a length more than eight meters will remain the same while 6-8-meter new energy buses will not be able to enjoy such favorable policies as they did in the last year. Thus, the sales of new energy buses above eight meters are expected to rise significantly.
Currently, Yutong has been constantly making new breakthroughs in the driveline systems, vehicle control, and power systems. Its five-in-one controller has proved extremely effective in cutting costs. With the declining costs for power batteries and improved manufacturing technologies, Yutong will make its profit margin stay at the same level as that in the last year.
On November 3, 2015, China"s Ministry of Transport, Ministry of Finance, and Ministry of Industry and Information Technology jointly released a document on promoting new energy buses, which is expected to further boost the fast growth of the emerging industry.