On March 31, 2025, Yutong Bus Co., Ltd. ("Yutong Bus") released its 2024 annual report. The report shows the company sold 46,918 buses throughout the year, up 28.48% year-on-year, achieving annual revenue of RMB 37.218 billion with a 37.63% year-on-year growth. The company met its pre-set revenue target for the year, generated RMB 7.211 billion in net operating cash flow, maintained robust operational cash flow, and continued to lead the industry across core indicators.

In 2024, driven by the domestic tourism market transitioning from recovery to a new stage of prosperity, the implementation of policies such as "trade-in" for new-energy buses, and favorable factors like urban-rural transportation integration, China's bus industry demonstrated clear signs of recovery. By the end of the reporting period, Yutong Bus remained the industry leader, ranking first in the production and sales of large and medium-sized buses.

In overseas markets, demand steadily increased. Yutong Bus achieved intensive deliveries in markets such as Greece, Spain, Chile, and Mexico, continuously expanding its global presence. According to the China Bus Statistics Information Network, Yutong Bus exported a cumulative 14,000 units in 2024, up 37.73%. By the end of the reporting period, the company had exported over 110,000 buses, with products sold in batches to more than 60 countries and regions worldwide, covering Europe, the Americas, Asia, and Africa, leading China's bus manufacturing industry towards global prominence.

Behind these impressive achievements lies Yutong Bus's sustained high R&D investment. In 2024, the company invested RMB 1.788 billion in innovation. By driving high-quality development of the industrial chain through technology and product innovation, Yutong Bus made continuous breakthroughs in core new-energy technologies, intelligent connectivity, hydrogen fuel technologies, and advanced manufacturing capabilities. It developed a high-efficiency, long-life electric motor with a lifespan of 15 years or 15 million kilometers, and independently developed the fourth-generation electronic and electrical architecture - the C-Platform - as the technological foundation to empower the vehicle's intelligent connectivity system.

With solid achievements in innovation, Yutong Bus has continuously received recognition. Through its participation in the "Key Technologies for R&D and Manufacturing of Power Batteries for Large-Scale Industrialization" project, the company was again awarded the Second Prize of the National Science and Technology Progress Award. It also became the only bus manufacturer selected in the first batch of the "Intelligent Connected Vehicle Access and Road Pilot Program."

In 2025, as the national fiscal debt resolution plan is fully implemented, along with supportive policies such as "trade-in" subsidies and rapid development of rural passenger-cargo-mail integration, domestic bus market demand is expected to maintain growth. Amidst the global carbon reduction trend, heightened environmental awareness in countries worldwide is anticipated to drive demand for new-energy buses in markets such as Europe, Latin America, the Middle East, and Central Asia. Analysts point out that this will be conducive to Yutong Bus and other industry leaders in consolidating their advantageous positions.

Source : www.chinabuses.org

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