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Express News | Turkmenistan will purchase 700 Yutong buses from China.
CICC: The auto market will be prosperous in 2024, and the continuation of trade-in for new vehicles is expected to support domestic demand in 2025.
The old-for-new policy in 2025 is expected to support the annual domestic demand for Passenger Vehicles.
Ping An Securities: The policy for replacing old Autos with new ones is clear, and the stimulating effect will exceed that of 2024.
The impact of policies on auto sales in 2025 will be stronger than in 2024, combined with the Electric Vehicles purchase tax policy, there is a bullish sentiment regarding the stimulating effects of multiple overlapping policies on Electric Vehicles.
Research Reports Goldmine | Soochow: Maintains Yutong Bus Co.,Ltd. "Buy" rating, full-year sales exceed expectations.
On January 8th, Gelonghui reported that Soochow's Research Reports indicated that Yutong Bus Co.,Ltd. (600066.SH) saw a significant increase in production and sales in December compared to the previous month, continuing its high prosperity. In the third quarter, the company experienced weak sales due to insufficient domestic demand and the impact of marine transportation costs on export delivery schedules. Since the fourth quarter, with the intensification of the old-for-new policy and the peak period for domestic and foreign bus deliveries, the resonance of internal and external demand has driven Yutong's production and sales to experience substantial month-on-month growth in December, with production and sales increasing for three consecutive months. In late December, Yutong delivered 1,037 Yutong New Energy buses to Peking. The collective increase in both domestic and foreign markets demonstrates Yutong's strength in the new energy sector.
Yutong Bus Co.,Ltd. (600066): High prosperity continued in December, with production and sales expected to exceed expectations for the whole year of 2024.
Investment highlights from the company's announcement: Yutong Bus Co., Ltd. sold 8615 units in December 2024, with year-on-year and month-on-month growth of +83% and +131%, respectively; production was 6904 units, with year-on-year and month-on-month growth of +60% and +48%, respectively. In 2024
Yutong Bus Co.,Ltd. (600066.SH): Received government subsidies of 86.049 million yuan in the fourth quarter.
Glory Exchange on January 6 reported that Yutong Bus Co., Ltd. (600066.SH) announced that it received various government subsidies amounting to 86.049 million yuan from October 1, 2024, to December 31, 2024. Among these, the government subsidies related to income included in the current profit and loss amounted to 32.3161 million yuan, while the government subsidies included in deferred income amounted to 3.1329 million yuan; government subsidies related to assets included in deferred income amounted to 50.6 million yuan. The aforementioned government subsidies affected the Net income attributable to the parent company's Shareholders by 29.9484 million yuan.
