According
to the latest financial report released on August 18, King Long Motor
registered an operating revenue of 10.286 billion RMB in the first half of this
year, up by 11.51% year on year. In the meantime, its net profits reached 148
million RMB, up by 86.44% year on year. Down by 0.35% year on year, the bus
maker’s export revenue totaled 2.226 billion RMB in the first six months of
this year.
The
report shows that King Long Motor sold 39,051 units buses in total from January
to June this year, up by 1.6% year on year. The sales volume of its large and
medium buses stood at 16,746 units, down by 5.1% year on year. In the meantime,
the sales volume of its minivans totaled 22,305 units, dipping slightly by 0.9%
year on year. 1,543 units of its pickups are sold, drop ping by 16.4% year
on year. In terms of export, 12,173 units King Long buses made their way to the
overseas market, down by 10.3% year on year.
A detailed analysis of the company’s financial report in the first half of this
year shows that four features characterized King Long Motor business
performance in this period.
First and foremost, King Long’s sales of eco-friendly vehicles and new energy
buses maintained a rapid growing momentum. In total, the bus maker managed to
sell 4,150 units energy-saving and new energy buses, which jumped by 609.4%
when compared with the number in the same period last year. This is one of the
main reasons for the increase of its net profits. According to King Long, it
has further intensified its efforts to research and develop new energy buses
and has rolled out several new models of new energy buses. What’s more, its
newly released green electric bus solutions, new energy bus solutions,
“Together” strategy, ISG system and eco-chip system have strengthened its
overall competitiveness enormously.
Second, King Long Motor continued to maintain a leading position among its
domestic counterparts in its exports. Thanks to its active measures and hard
work in exploring the overseas market, the bus maker successfully exported
1,060 units King Long school buses to Saudi Arabia. After securing a major deal
with Israeli customers at the end of last year for its Euro VI high-end
coaches, the company again sold large batches of coaches to Israel in the first
half of this year.
Third, King Long Motor has seen a steady and fast rise of its brand value.
Among the Top 500 Most Valued Brand in China released in June, King Long, Higer
and Golden Dragon boast a brand value of 21.725 billion RMB, 20.286 billion
RMB, and 11.768 billion RMB respectively. Together, the company’s combined
brand value has grown by 31% year on year. Following King Long, Higer has been
recognized as a “Well-Known Brand in China” by State Administration of Industry
and Commerce.
Fourth, King Long Motor finished a new round of re-financing by raising a fund
of 1.3 billion RMB. Currently, the bus maker has kicked off its new round of
financing and its financing plans have already been approved by its board of
directors.
In the first half of this year, China sold 265,583 units buses, up by 1.6% year
on year. The total sales volume of large and medium buses stood at 64,819
units, down by 7.7% year on year and that of minivans registered at 200,764
units, up by 5.0% year on year. In the meantime, the nation’s total bus
export reached 38,300 units, down by 3.7% year on year.