Yutong Bus Shows Steady Growth with Expected Net Profit to Grow US$7.87 Million to $23.61 Million for 2021, A 10% to 30% YoY Increase

ZHENGZHOU, China, Jan. 20, 2022 /PRNewswire/ -- Yutong Bus Co., Ltd. ("Yutong", SHA: 600066), a world leading commercial vehicle manufacturer, has bucked China's bus market trend by completing its self-challenge achievement of 0.17% revenue growth for 2021. The company made 42,065 buses last year, a slight 0.2% increase from the previous year, while bus sales reached 41,828 recording a 0.17% YoY increase, with 2021 net profit predicted to grow US$ 7.87 million to $23.61 million.

Compared with 2020, the global bus industry is experiencing a slow recovery with the overall business performance of major bus companies in China remaining fatigued and weak. Under these difficult circumstances, Yutong has consistently held the top spot in the industry, driving the market forward and pushing innovation.

In 2021, Yutong has made significant breakthroughs in the fields of intelligent connectivity, autonomous driving, fuel cell technology, and new material applications. Yutong reached several milestones along its path of providing an improved public travel experience including:

• Launch A6, a small autonomous bus, with L4 autonomous driving capabilities, which has been tested in Qatar and Kazakhstan.
• Winning two Red Dot Awards.
• Achieving mass commercial operation of its hydrogen fuel cell bus.
• Launching Yutong's next-generation design principle of its electric bus safety standard, "YESS".

Yutong continues to explore overseas markets. Up to now, Yutong has exported more than 80,000 units and built the global sales and service network, covering Europe, America, Asia Pacific, CIS, Middle East, and Africa. In its main target markets, Yutong has become one of the major bus suppliers.

While paying attention to its own development, Yutong is active in its corporate social responsibility. Responding to the call for green and low-carbon travel, Yutong has worked hard in the field of new energy buses, mastered the three new energy technologies of pure electric, hybrid, and hydrogen fuel cells, as well as the autonomous driving technology for commercial vehicles. The cumulative sales of more than 160,000 new energy buses have reduced fuel consumption by 2.133 billion liters each year, saving the consumption of 335 million cubic meters of natural gas, and achieving a cumulative reduction of carbon emissions of about 23.25 million tons.

For more information, please visit Yutong Bus.