Net Profit of Zhongtong in the 3rd Quarter Reaches 1.8 billion Yuan
27 October 2011
www.chinabuses.org: Financial statement of the 3rd Quarter said operating income of the first three quarters reached 1.802 billion Yuan and net profit of shareholders reached 38.0344 million Yuan, increasing 33.4% and 57.23% respectively, earnings per share being 0.16 Yuan. In the 3rd quarter operating income reached 694 million Yuan and net profit of shareholders reached 14.52222 million Yuan, increasing 55.69% and 68.84% respectively.
Operating income increased due to the sales growth from July to September and accounts receivable increased 62.81% due to the unsettlement of exchange for LC of overseas customers and debt growth of major accounts in China; advance payment reached 140 million Yuan, year-on-year rises of 177.06%.
The company was relocating its factory, projects in progress increasing 9 times. Furthermore, Zhongtong held the 2nd extraordinary general meeting on October 21st, 2011, passing the proposal on the arvut of no more than 250 million Yuan with Liaocheng Transportation Group and loan guarantee of increasing 8.8 million Yuan to its subsidiary Zhongtong Light Bus Company.
Source : www.chinabuses.org:
Editor : Song
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