Position:news > buses > Yutong’s Net Profits Jumped by 22%, Reaching 2.276 Billion RMB from Q1 to Q3, 2016
Yutong’s Net Profits Jumped by 22%, Reaching 2.276 Billion RMB from Q1 to Q3, 2016
2016-10-27 Source：www.chinabuses.org
www.chinabuses.org: On October 24, Yutong released a business report, showing that the company realized a business revenue of 21.659 billion RMB from January to September in 2016, up by 14.42% year on year. The company’s net profits attributable to listed shareholders amounted to 2.276 billion RMB in the same period, up by 22.04% year on year. The company’s basic per-shares earnings stood at 1.03 RMB. Its net profits attributed to parent company registered at 2.28 billion RMB, up by 24.7% year on year. Thanks to the rise of average prices of Yutong buses, the company’s gross profit rate rose 2.5 percentage points, reaching 27.0%. The overall performance of Yutong exceeded public’s expectations. For detailed information, please refer to the table below.
End of the Period of this Report
End of the Last Year
Growth Rate (%)
Total Assets
27,889,471,820.89
30,139,131,311.58
-7.46
Net Assets Attributable to Listed Shareholders
11,816,350,086.93
12,860,576,681.94
-8.12
Jan.-Sept.,2016
Jan.-Sept., 2015
Net Cash Flows from Operating Activities
-1,372,759,082.94
5,016,798,560.64
-127.36
Operating Revenue
21,659,158,276.32
18,929,067,308.06
14.42
Net Profits Attributable to Listed Shareholders
2,276,338,554.13
1,865,296,604.42
22.04
Net Profits Attributable to Listed Shareholders Deducted by Non-Operating Profits and Losses
2,175,093,813.37
1,743,900,424.67
24.73
Weighted Average Returns on Equity (%)
18.87
16.83
Up by 2.04 percentage points
Basic Per-share Earnings (RMB/share)
1.03
0.84
22.12
In the third quarter of 2016, Yutong’s sales volume reached 17,715 units. Thanks to the improvement of its product line, the average price of its buses stood at 474,000RMB, up by 11.4% year on year and up by 1.2% compared with that in the previous quarter. The average net profits of each Yutong bus registered at 59,000 RMB, up by 28.4% year on year.
Yutong’s cash to operating income ratio reached a new historical low, standing at just 0.26 in the third quarter of this year, which is less than half of that (0.56) registered last year, but is still higher than that of Zhongtong.
Yutong’s trading financial assets continued its downward movement due to the fluctuations of the stock market, standing at 517 million RMB, which is 331 million RMB less than that of the previous quarter. On September 28, the bus maker purchased 200 million worth shares from Jiashi Investment (Cayman) LP and thus its financial assets available for sale went up by 280 million RMB to 869 million RMB when compared with that in the previous quarter.
The rise of its gross profit margin played a key role in Yutong’s unexpected performance in the third quarter. In the same period, its sales expense ratio, management expense ratio, and financial expense ratio stood at 6.4%, 5.0% and 0.4% respectively.
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