Win the market and continue to lead the industry in sales and revenue

According to statistics of China bus statistics information network, in 2019, 134331 buses with a length of 7 meters and above were sold in the bus industry, down 11.31% from 2018. Affected by this, the sales volume of Yutong Bus also decreased slightly, but the situation was better than the overall level of the industry. The domestic market share was 37.1%, increased by 2.6 percentage points, and the product competitiveness was fully reflected, continuing to lead the bus industry.

Yutong Bus said that in the face of downward pressure from industry policies and market demand, the company will actively respond to changes in the external environment and focus on product quality and technological innovation. Yutong Bus believes that enterprises with strong technical strength, high-quality products and high “comprehensive cost-performance” will play a leading role in the new energy bus market in the future.

Continuously increase R & D investment and enhance core competitiveness

Under the current situation of overall industry downturn, Yutong Bus continued to increase R & D investment. During the reporting period, Yutong Bus's R & D expenditure in 2019 was 1.774 billion yuan, accounting for 5.82% of the operating revenue, which was at a high level in the industry.

According to the annual report, in 2019, Yutong Bus followed the development trend of low-carbon, intelligent, networked, electric and lightweight technologies. Focusing on safety, energy saving, comfort and environmental protection, it mainly invested in the improvement and development of T7 series models, high-end tourism, high-end public transportation, CL6 / CL7 and other high-end products, the application of automatic driving technology, and the research and development of five meter microcirculation vehicle, and carried out "five modernizations" improvement, manufacturing capacity improvement, lightweight, LCC (life cycle cost), technical research projects, etc.

It is worth mentioning that these research inputs have achieved a series of results and achieved good promotion in the market. In 2019, the comprehensive update of the domestic new energy buses of 8m, 10m and 12m series products were completed; and developed 8m, 12m, 18m new energy bus products for overseas market; realized the demonstration operation of self driving micro circulation mini-bus in Zhengzhou smart island. Yutong focused on improving the ability of products to adapt to customer diverse demand, and continued leading the customer satisfaction in the industry. Besides, Yutong completed the upgrading of New 7 series products of medium-sized vehicles


                                                (Almost all Yutong E-buses carry CLING EZDS A/C)

In the 2019 evaluation of the national enterprise technology center, Yutong Bus ranked “excellent” with a score of 95, becoming the only bus manufacturer in the list that has reached the "excellent" level.

During the reporting period, Yutong Bus continued to be listed in the top 500 of China Best Valued Brands. In the biennial World Bus Expo, it won three awards, including the Busworld Design Award and the Environmental Protection Award, setting a new record for the number of awards won by Chinese car companies in the world bus Expo. (CLING HVAC are on these awarded buses)

Look into the future development, Yutong said that with the decline of new energy subsidy policy, the market would gradually return to rationality, and the market competition in the future will rely more on the comprehensive strength of products, services and brands value. The company will continue to focus on the vision of "becoming the world's leading provider of passenger vehicles and travel solutions", and achieving the improvement of scale and competitiveness in the global scope. Devoting into the 7 themes of "product upgrading, technology upgrading, model innovation, overseas expansion, foundation consolidation, extension development and upgrading culture", promoting the implementation of a number of strategic initiatives with high standards, supporting enterprises to complete the double promotion of “management transformation” and “brand influence”, and creating greater value for customers, shareholders, society and other stakeholders.

(Edited by Nathan on 03-04-2019)