Asiastar Turned Losses into Gains in Earlier Half of 2016

On the night of August 24, Asiastar officially released a report on its business performance in the earlier half of 2016, showing that the company realized a business revenue of 979 million RMB, up by 53% year on year. In the meantime, its net profits stood at 14.21 million RMB, thus successfully turning its profits from negative to positive.

According to Asiastar, the company sold 1,636 units buses in total in the first half of 2016, which was down by 6% compared with the sales volume in the same period last year. Despite this, Asiastar’s sales volume of new energy buses soared by a whopping 718%, registering at 1,146 units. Thanks to the impressive performances of its new energy bus business, the bus maker saw big jumps in both its sales revenue and net profits.