Yutong Reports Its H1 Statement
After a year of depression in domestic and abroad market, Zhengzhou Yutong Bus Co., Ltd (hereinafter referred to as Yutong) posted sales of RMB 3.548 billion (about USD 518.96 million) in the six months of 2009, as revenues plunged 16.89 percent during the same period.
On August 24, Yutong reported the company realized a substantial net earnings of RMB 192 million (about USD 28.02 million) or RMB 0.37 per share earn in the first half of 2009, down to 55.54 per cent from the same period of last year.
Yutong pointed out the net earnings of the first half of 2009 mainly from its bus and coach business. However, in the same period of 2008, the company received the net income of RMB 215 million (about USD 31.39 million) through sold off the 50.93 percent shareholding in its sub company.
But Yutong also referred that due to the international economy depression and financial crisis, the overseas demand dropped sharply, and the continued rising Yuan has posed a serious challenge to bus exporters, all this factors are bringing on the severity affection of its overseas sales, Yutong estimated the whole condition in last half of 2009 is still not optimism.
During the first six months of 2009, the output and sales of Yutong bus are 11,400 units and 11,000 units, dropped 22.49 percent and 25.90 percent separately.
On August 24, Yutong reported the company realized a substantial net earnings of RMB 192 million (about USD 28.02 million) or RMB 0.37 per share earn in the first half of 2009, down to 55.54 per cent from the same period of last year.
Yutong pointed out the net earnings of the first half of 2009 mainly from its bus and coach business. However, in the same period of 2008, the company received the net income of RMB 215 million (about USD 31.39 million) through sold off the 50.93 percent shareholding in its sub company.
But Yutong also referred that due to the international economy depression and financial crisis, the overseas demand dropped sharply, and the continued rising Yuan has posed a serious challenge to bus exporters, all this factors are bringing on the severity affection of its overseas sales, Yutong estimated the whole condition in last half of 2009 is still not optimism.
During the first six months of 2009, the output and sales of Yutong bus are 11,400 units and 11,000 units, dropped 22.49 percent and 25.90 percent separately.
