Strong sales in December helped Yutong Bus achieve positive growth in sales in 2009


In December, the passenger bus sales of Yutong Bus continued to increase substantially year-on-year and month-on-month, and the sales volume of whole vehicle vehicles turned to positive growth. The intensified subsidy policies and export restoration will form an important support for the continuation of the bus industry in 2010, and the company will benefit as a leader in the industry.

Yutong Bus , on January 5, released a sales report. In December, the company produced 4,520 vehicles and 4,899 vehicles. In 2009, it produced and sold 28,625 vehicles and 28,186 vehicles, accumulatively increasing at a rate of 6.45% and 2.29% year-on-year. In terms of different models, the company sold 2,165, 2,218 and 516 light passengers, medium passengers and light passengers respectively in December. The cumulative sales for the year were 11,197 units, 13,508 units and 3,481 units, representing a year-on-year growth rate of -6% and 9% respectively. And 6%.

Strong sales in December helped accelerate growth. December has always been the peak season for passenger vehicle manufacturers. Yutong Bus sold 4,899 vehicles in a single month, a year-on-year increase of 45% and 70% respectively. The rapid increase in single-month sales indicates that on the other hand, the economic recovery of the passenger car industry still has room for upward growth. On the other hand, the accumulated sales growth of the company in 2009 has been positive at the last moment. In terms of different models, the sales growth of the company's big passengers, passengers, and light passengers in December was 49%, 43%, and 34% year-on-year, and the growth rates were 89%, 59%, and 52% respectively.

The trade-in policy will help the bus industry to continue its boom. According to the latest trade-in subsidies regulations, in 2010, old passenger cars were scrapped and replaced with new ones. Zhongke bicycle subsidy was 11,000 yuan; bicycles that scrapped “yellow-marked cars” and redeemed for new cars, big passengers, middle passengers, light passengers, and microbuses Subsidies of 18,000, 11,000, and 7,000 yuan have been significantly increased compared with the original standard. Despite the passenger car sales in 2009, the recovery process was mainly driven by the industry's self-initiated, and the policy-driven effect was not as good as that of the sedan industry. However, the enhanced policy has always been an important guarantee for the continuation of the bus industry in 2010.

Export repair in 2010 is a high probability event. In January-November 2009, China's passenger car exports amounted to 16,900 vehicles, a year-on-year decrease of 33%, which was not significantly improved from the first half of the -36% growth rate in the first half of the year. This was mainly due to the relatively slow progress of economic recovery in overseas major demand countries. Corresponding to the industry, Yutong buses exported 887 vehicles (group data) in January-March, down 63% year-on-year. Due to the outstanding price/performance advantages of domestic passenger car products, the transfer of international orders to China is a general trend. It is expected that in 2010 the export of the bus industry and related listed companies will usher in a significant recovery.

Gross profit margin will remain high in the fourth quarter. Since the third quarter, the lagging sales of large and medium-sized customers have begun to return to normal. Their recovery has continued to be stronger than that of light passengers. Simultaneously with the industry, the sales of Yutong Bus 's large and medium-sized passengers also recovered significantly. The company's annual sales of large and medium-sized passengers accounted for 87.69% of total sales in the first half of the year, up from 85.49% in the first half of the year. The upward movement of product structure coupled with the commissioning of the vehicle cathodic electrophoretic coating production line is expected to maintain a high level of profit for the company in the fourth quarter, which is approximately 17.3%.

The third quarterly report shows that the company achieved operating income of 5.833 billion yuan from January to September 2009, a year-on-year decrease of 1.29%; net profit attributable to shareholders of the parent company was 337 million yuan, a year-on-year decrease of 15.20%, corresponding to 0.65 yuan per share in the previous three quarters.

As of press time, Yutong's share price was 19.98 yuan, up 1.52% from the previous trading day.



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