Yutong released its 2021 annual report: revenue increased, and exports rose by 30%.

On March 28, Yutong Bus Co., Ltd. released its 2021 annual report.

According to the report, in 2021, Yutong Bus achieved revenue of 23.233 billion yuan, an increase of 7.04% year-on-year; net profit attributable to shareholders of listed companies was 614 million yuan, an increase of 18.95% year-on-year.

The report pointed out that the main reason for the year-on-year increase in net profit is: in 2021, with the promotion of new energy in the overseas bus market and the recovery of demand, the company's overseas export business has increased; at the same time, the delivery of the company's staff housing projects has contributed to the company's performance.

In addition, what important information does Yutong Bus's annual report reveal? Please see the first commercial vehicle network report.

Maintain the leading position in the industry in 2021 Exports rose by 30%.

In the whole year of 2021, Yutong Bus sold 41,828 buses of various types, a slight increase year-on-year. From the perspective of model categories, in 2021, Yutong achieved sales of 16321 large buses, down 1.93% year-on-year, 17146 medium-sized buses, down 1.41% year-on-year, and 8361 light buses, an increase of 8.29% year-on-year. In 2021, the company's production and sales of large and medium-sized buses ranked first in the industry, with a market share of 38.20%, an increase of 2.91% year-on-year, and continued to maintain its leading position in the industry.

At the same time, with the promotion of new energy in the overseas bus market and the recovery of demand, Yutong bus overseas export business has also increased. In the whole year of 2021, Yutong achieved the export of 4916 buses, an increase of 30.74% year-on-year. Up to now, Yutong has exported more than 80,000 buses of various types, and the overseas sales and service network has achieved the layout of the global target market, covering six major regions such as Europe, the Americas, Asia-Pacific, ciscommition, the Middle East and Africa, and effectively established an excellent brand image and market reputation made in China through high-quality products and good service.

The bus industry is a weak cycle industry, and the total amount of the industry depends on the total amount of residents traveling and the travel structure, and to a certain extent, it is also affected by national and local policies. In 2021, in the face of a severe and complex external environment, sudden rainstorms, and continuous and repeated epidemics... It is not easy for Yutong Bus to hand over such a report card.

The level of research and development continues to improve, and the core competitiveness is becoming increasingly prominent

As the bus market gradually returns to rationality, the future market competition will rely more on the comprehensive strength of products, services and brands, and also test the core competitiveness of enterprises.

In terms of new energy products, Yutong has completed a comprehensive technical upgrade of the new energy system for the domestic pure electric bus and highway market segments, completed the layout of 10-18 meters of Yuwei full range of pure electric bus products and the listing of 12 meters of new energy highway products, and launched a new 6 meters of micro-circulation pure electric bus products, and at the same time did a good job in the planning and development of new energy products in 2022, facing the overseas market a full range of layout and promoting 8.9 meters, 10.5 meters, 12 meters, 18 meters pure electric bus products.

In terms of intelligent network products, Robo-bus carried out demonstration operations in Zhengzhou, Guangzhou, Nanjing, Changsha and other places, covering urban buses, scenic park commuting, airport ferries and other scenarios, took the lead in establishing an intelligent travel system covering "main trunk line - branch line - microcirculation" in Zhengzhou Zhongyuan Science and Technology City, delivered materials to the closed management area of Liwan District in Guangzhou's "smart anti-epidemic", and carried out the first domestic unmanned bus apron internal manned test at Changsha Huanghua International Airport; Guangzhou has achieved normal operation.

In terms of high-end products, T7 completed quality improvement and function optimization, launched galaxy version of modified products; overseas high-end buses completed the planning and layout of U series products, overseas high-end tourism completed the development and listing of new products on 12-meter pure electric highways in Europe, and the competitiveness of high-end products was further enhanced.

Uncertainty of the epidemic affects travel demand The new energy industry has brought new opportunities

As a leading enterprise in the bus industry, Yutong has made the following analysis and predictions on the domestic and foreign bus market environment:

In terms of the domestic market, buses mainly serve the short- and medium-distance travel needs of public roads, and can be further subdivided into road passenger transport, bus passenger transport, tourist passenger transport, school bus, group commuting and other market segments.

(1) Road passenger transport is one of the main modes of passenger transport in the mainland, and due to the impact of the new crown epidemic and alternative modes of travel such as high-speed rail and private cars, demand will continue to decline in 2021. In the medium and long term, it is expected that the future demand will gradually stop falling and stabilize.

(2) Bus passenger transport is one of the main passenger transportation modes of the city's internal roads, usually adopting the operating mode based on government subsidies, and has now become the largest market segment in the large and medium-sized bus industry. Affected by the comprehensive impact of new energy policy, double carbon and demand upgrading, the overall demand of the bus market tends to be electrified, intelligent networked, and high-end, and more attention is paid to customer experience such as environmental protection, energy saving, safety, comfort, and convenience.

(3) Tourist passenger transport is one of the important modes of transportation for mass tourism travel, in the first half of 2021, affected by factors such as tourism recovery, National VI emission switching and National III elimination, tourism demand growth is more obvious; in the second half of the year, affected by the domestic multi-point sporadic epidemic, tourism demand is suppressed, but the overall tourism passenger transport market in 2021 shows a growth trend. In the medium and long term, it is expected that the demand for tourist passenger transport market will show an increasing trend.

(4) School bus is a special vehicle for students to commute, and has a certain road priority like bus, which is welcomed by schools and parents. From 2011 to 2013, the vehicles purchased during the rapid outbreak of the school bus market will gradually enter the renewal cycle, driven by the continuous improvement of the state and society's attention to the safety of student travel, and the beginning of multi-school zoning in urban areas, the demand for school bus market is expected to be gradually released.

In terms of overseas markets, most of Yutong's target market countries have a certain economic and resource base, and the national economy is in a stage of stable development or rapid development in the long run, and the demand for buses has shown a stable growth trend on the whole. At the same time, due to environmental protection requirements, international image improvement and the continuous improvement of the economy of new energy vehicles, the demand for new energy in the target market will continue to increase. However, the global epidemic has not yet been effectively controlled, and there is still great uncertainty in the changes in the international political and economic environment, which makes the global economic recovery face certain challenges and may have a certain adverse impact on the demand for overseas bus markets.

In recent years, with the development of the new energy bus industry, the industry pattern has undergone some changes, and some enterprises have seized the opportunity of the new energy industry to achieve rapid development, but they are also facing the challenge of the development of intelligent networking of products. The total demand for traditional business scenarios in the bus industry tends to be stable, and the emerging business scenarios represented by automatic driving and intelligent networking have ushered in a new round of development opportunities.

According to the data of China Bus Statistical Information Network, the total sales volume of large and medium-sized buses in the industry in 2021 was 87,525, and the total market share of the top 5 sales companies was 78.8%, an increase of 2.4 percentage points over 2020, and the concentration of the industry continued to increase. With the decline of the new energy subsidy policy, the market gradually returns to rationality, and the future market competition will rely more on the comprehensive competitiveness of products, services and brands, which is generally beneficial to leading enterprises, and the market concentration is expected to be further improved.

2022 will do a good job of "three modernizations" and do three "target markets"

Based on the analysis of the market environment, Yutong Bus will continue to focus on the vision of "becoming the world's leading bus and travel solution provider" to achieve scale and competitiveness on a global scale. By doing a good job of "electrification, intelligent networking, high-end and internationalization", and doing a thorough job in the three "target markets" of domestic, overseas and special vehicles, we will promote the high standard landing of a number of strategic initiatives, support enterprises to complete the management transformation and double promotion of brand influence, and create greater value for customers, shareholders, society and other stakeholders.