E-MAIL
On June 14, “Open Shandong” Media Tour visited Zhongtong. Journalists from various medias gained a precious opportunity to take a closer look at how the bus maker maintained a fast growing momentum in an era of economic transition.
Established in 1958, Zhongtong started producing buses in 1971. On January 13, 2000, the bus maker officially went public at Shenzhen Stock Exchange. Currently, the company boasts total assets of seven billion RMB, net assets of 2.2 billion RMB and a total capitalization of 295.9 million shares. With nearly 4,000 employees, Zhongtong holds 1,300 major units production equipment and facilities and covers a production area of 934,000 square meters. Equipped with state-of-art manufacturing technologies and internationally competitive production lines, Zhongtong is capable of producing 30,000 units energy efficient and new energy buses.
As one of the leading bus brands in China, Zhongtong has accumulated rich experience in bus manufacturing industry. With its state-level technological center, post-doctoral workshop and state certified laboratories, Zhongtong has set up cooperative ties with a number of well-renowned universities and research institutions. For years, the bus maker has been committed to the research and development of energy efficient and new energy vehicles with high safety standards. Having gained nearly 100 patents, it has also participated in the making of over ten national standards and has won 30-plus awards both from home and abroad.
Currently, Zhongtong boasts a wide spectrum of bus products measuring from 5.5 meters to 18 meters in length. Its passenger coaches, city buses, tourist coaches, and school buses, in eight categories and over 140 varieties, are extremely competitive in the market, not only enjoying rising popularity in China, but also having made their way into over 90 countries and regions.
In response to the government’s call for green transportation, Zhongtong has been growing by leaps and bounds in the field of new energy vehicles. As a new leader in the promising industry, it has realized an annual growth rate of over 30% in the past few years. In 2015, the company sold over 17,000 units buses, ranking the third in China’s bus industry with a market share of over 10%. In the same year, the company’s sales volume of new energy buses broke the threshold of 10,000 units, ranking the second among all its counterparts in China. In the first five months this year, Zhongtong managed to sell over 5,200 units new energy buses. Thus, its market share exceeded 20%, pushing the company to the No.1 place in China’s new energy bus industry.
On May 23, a grand ceremony was held at China’s International Exhibition Center in Beijing to mark the delivery of the 20,000th unit Zhongtong bus to its customer. In October, 2015, Zhongtong sold an accumulated 10,000 units new energy buses. It took six years for the bus maker to achieve this. For the second 10,000 units new energy buses, however, Zhongtong only spent eight months. By focusing on developing environmentally friendly vehicles, Zhongtong has been quick to respond to the market needs and improve the overall quality of its products. Thanks to its responsiveness and innovative spirit, it has been constantly winning more and more customers from both home and abroad.
In 2014, Zhongtong’s new production base which boasts an annual production capacity of 30,000 units energy efficient and new energy vehicles officially went into operation. This has greatly improved its overall competitiveness in the cut-throat bus industry. Since then, the company has witnessed exponential growth. In 2015, Zhongtong’s business revenue grew by 97%. It realized a net profit of 400 million RMB, up by 42.8% year on year. In the first quarter of 2016, Zhongtong’s net profits jumped by a whopping 1400%.
In the thirteenth Five-Year Plan period, China’s new energy vehicle industry is expected to experience a golden development period. With a number of favorable policies, Zhongtong is also aiming high. With its continued efforts in developing new energy vehicles and exploring overseas market, Zhongtong plans to increase its production and sales volume of buses to 30,000 units, its revenue in the new energy sector and export sector to over ten billion RMB, its market value to over ten billion RMB, its income in capital operation to over one billion RMB, and its total profits to 600 million RMB.