Yutong, Zhongtong, Ankai "Three Musketeers" Plus New Energy


On the evening of August 20, 2013, Yutong Bus, Zhongtong Bus, and Ankai Bus issued the 2012 semi-annual report respectively. Bus companies expect that the growth of the bus market in the second half of the year will be weak and the competition between industries will become more intense; and new energy bus research and development will continue It is the point.

Government subsidy dependence still exists

Ankai semi-annual report shows that in the first half of the year the company achieved sales revenue of 2.056 billion yuan, an increase of 40.5%; the net profit attributable to owners of the parent company reached 25.1224 million yuan, an increase of 60.8%. Among them, the government subsidies included in the current profit and loss were 11.678 million yuan; and the net profit attributable to the shareholders of the listed company net of non-recurring gains and losses was 1565.75 million yuan, a year-on-year increase of 30%.

The profit growth of Ankai Bus is mainly concentrated in the second quarter. According to the quarterly report released by Ankai before that, its operating income in the first quarter was 797 million yuan, a slight increase of 1.7% year-on-year; net profit was 6.213 million yuan, a year-on-year decrease of 52.57%. At the same time, in the net profit of 6.213 million yuan in the first quarter, it also included 9.787 million yuan of government subsidies included in the current profits and losses. Excluding government grants, its net profit attributable to shareholders of listed companies net of non-recurring gains and losses was RMB 0.199 million, a year-on-year decrease of 118%.

Yutong Bus achieved operating income of 9.664 billion yuan in the first half of the year, a year-on-year increase of 16.48%; net profit attributable to owners of the parent company was 632 million yuan, a year-on-year increase of 7.18%; earnings per share of 0.4978 yuan.

The data further shows that Yutong Bus achieved non-operating income of 168 million yuan from January to June 2013, an increase of 974.99% from the same period last year. Excluding these non-recurring gains and losses, the company achieved a net profit of 474 million yuan in the current period, a year-on-year decrease of 9.94%. For the surge in non-operating income, Yutong Bus explained that it was mainly due to the increase in financial subsidies received during the reporting period.

At the same time, from January to June 2013, Yutong bus management expenses incurred 480 million yuan, a year-on-year increase of 33.44%. The company said that it was mainly due to the increase in R&D investment, new energy base asset depreciation, land amortization, and the corresponding property tax and land use tax.

As of the end of June, Yutong Bus realized receivables of 4 billion yuan, an increase of 109.81% over the same period of last year. As a result, the company’s provision for bad debts increased sharply during the current period, and the amount of asset impairment losses reached 176 million yuan, an increase of 207.58% over the same period of last year.

Zhongtong Bus performed well in the first half of the year, achieved sales revenue of RMB 1.56 billion during the period, revenue increased by 21.4%, realized profit of RMB 54.60 million, an increase of 73.1% year-on-year, and realized a net profit of RMB 45.0902 million, an increase of 71.56% year-on-year. 0.19 yuan. From January to June, the company sold a total of 6,208 buses and achieved an operating income of 1.56 billion yuan, an increase of 21.41% over the same period of last year. According to the statistics, in July, the number of buses sold by Zhongtong Bus exceeded 1200 units, an increase of over 50% over the same period of last year.

High attention on new energy research and development

The research and development of new energy buses is still the focus of attention of all parties. Zhongtong Bus stated that in the first half of the year, the company focused on the development of a 12-meter passenger-lane road passenger car and a plug-in coaxial parallel hybrid bus, which will enhance the competitiveness of the company's high-end passenger cars and new energy passenger cars, and completed the development of the LCK6750DY child care school bus. .

Yutong Bus stated that the company's energy-saving and new energy bus production bases have been gradually put into production, which solved the problem of insufficient capacity of the company, laid a good foundation for the company to further increase market share and realize the company's medium and long-term strategy; with good stability and fuel economy. In terms of performance, the company sold more than two thousand hybrid buses in the first half of the year, with a market share of about 40%. The company's advantages in the field of new energy buses have initially appeared.

Ankai Bus also emphasized that the company is an early-coming Chinese vehicle company that researches and develops and mass-produces and operates new energy buses. Now it has formed 10 to 12 meters of pure electric buses, 12 meters of pure electric tourism and commuter buses, and 12 meters of extensions. A total of 37 new energy buses won the national announcement on the product platform of an electric bus and a 10-12 meter hybrid electric city bus. The number of announcements was the first in the country, and 35 energy-saving and new energy vehicles (quotations) were evaluated. Recommended models for national demonstration and extension application engineering.

Ankai coach said in a recent response to investors' questions that the company's new energy investment project, "National Electric (Race Zone) passenger car vehicle system integration technology engineering research center" by the end of June can also complete the main construction, the workpiece workshop It will be completed and put into use in June. The welding shop and final assembly shop will be completed and put into use in October 2013. It is expected that part of the production time will be at the end of 2013 and early 2014.

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