Zhongtong Sold 7,908 Units Buses in Earlier Half of 2016 Financial Year, Up by 40% Year-on-Year

2016-08-22

On August 18, Zhongtong released a business report for the first half of its 2016 financial year, showing that the company realized a business revenue of 3.958 billion RMB, up by 95.23% year on year. Its net profits attributable to shareholders reached 292 million RMB, up by 504.73% year on year. Its basic earnings per share stood at 0.98 RMB. For detailed information, please refer to the table below.

	Earlier Half of 2016 Financial Year	Earlier Half of 2015 Financial Year	Year-on-Year Growth Rate
Business Revenue (RMB)	3,957,798,638.38	2,027,230,070.31	95.23%
Net Profits Attributable to Shareholders of Listed Company (RMB)	291,831,115.82	48,258,154.67	504.73%
Net Profits Attributable to Shareholders of Listed Company after Deduction of Non-recurring Profits or Losses (RMB)	286,211,490.39	38,926,487.63	635.26%
Net Cash Flow from Operations (RMB)	-1,010,784,681.94	-605,435,323.35	66.95%
Basic Earnings per Share (RMB)	0.98	0.20	390.00%
Diluted Earnings per Share (RMB)	0.98	0.20	390.00%
Weighted Average Rate of Return on Common Stockholders’ Equity	12.78%	4.44%	8.34%
	End Period of This Report	End Period of Last Financial Year	Growth Rate
Total Assets (RMB)	9,910,854,283.54	7,058,869,153.55	40.40%
Net Profits Attributable to Shareholders of Listed Company (RMB)	2,286,073,265.70	2,136,776,389.05	6.99%

According to Zhongtong, the company has been taking a number of measures to boost its sales. First, focus has been given to the development and sales of new energy buses. Thus, the company’s sales and market share of new energy buses ranked the second place in the industry. Second, it continued to strengthen its efforts in exploring overseas market and build its overseas marketing networks, laying a solid foundation for the continued growth of its exports. Third, it has been pursuing an innovation-driven development road, rolling out high-end business coaches, recreational vehicles, Landi and Qingzhou buses, forming an even wider spectrum of product line.

As of the middle term of its 2016 financial year, Zhongtong sold 7,908 units buses, realized a business revenue of 3.958 billion RMB, and a net profit of 292 million RMB, up by 40.34%, 95.23% and 504.73% year on year respectively.

According to the statistics released by China Association of Automobile Manufacturers (CAAM), China produced 38,000 units new energy vehicles and sold 36,000 units new energy vehicles in July this year, up by 93.4% and 98.1% year on year respectively. In the same month, the production and sales volume of electric vehicles reached 27,000 units and 26,000 units respectively, up by 127.0% and 144.2% year on year. The production and sales volume of plug-in hybrid vehicles stood at 11,000 units and 10,000 units respectively, up by 41.4% and 33.3% year on year.

According to the statistics released by China Bus Information Website (www.chinabus.info), China sold 83,127 units buses measuring 6-meters and above in length, up by 8.7% year on year. The growth was mainly contributed by the increase of the sales of city buses and medium-sized coaches. In the meantime, the travel coaches and export of buses both experienced some downward movements.

From January to July, China produced 215,000 units new energy vehicles and sold 207,000 units, up by 119.8% and 122.8% year on year respectively. The production and sales volume of electric vehicles stood at 162,000 units and 153,000 units, up by 156.4% and 160.9% year on year; the production and sales volume of plug-in hybrid vehicles both reached 54,000 units, up by 53.7% and 57.6% year on year.

Zhongtong Sold 7,908 Units Buses in Earlier Half of 2016 Financial Year, Up by 40% Year-on-Year

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