Yutong Reports Net Loss of 116 Million in Q1,2022
26 May 2022
Recently, Yutong (Stock code: 600066) officially released its business report in the first quarter this year. According to the report, the bus maker recorded a business revenue of 3,526,036,788.96 RMB, down by 2.84% year on year. In the same period, its net profits attributable to shareholders stood at -115,652,914.13 RMB, more than what was recorded in the first three months in 2021.
According to the report, Yutong sold 4,945 units buses & coaches in the first quarter this year, down by 31.09% year on year. More specifically, its sales volume of large-sized buses went down by 14.52%, reaching 2,437 units; its medium-sized buses decreased by 40.05%, standing at 1,633 units; its light buses dropped by 45.35%, reaching 875 units.
Also in the first quarter this year, Yutong saw its operating costs down by 3.5% year on year, reaching 3 billion RMB. Its gross profit rate went up by 0.6% and its expense ratio for the period went up to 25.6%, 4.6% higher than that in the first quarter in 2021. In addition, the bus maker’s operating cash flow was by 135.1% to -740 million RMB, which, according to the company, was due to decreased amount of cash collected from its sales for the period.
With a host of challenges, Yutong’s net profits after extraordinary gains or losses reached -323,909,400 RMB in the first quarter this year, down by 82.51%. According to the bus maker, the decrease of its net profits after extraordinary gains or losses was mainly due to the increase of its current expenses.
Source : www.chinabuses.org
Editor : Isabella
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Tags: China bus sales
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