Yutong Bus posts strong growth, announces dividend plan

Zhengzhou Yutong Bus (SSE:600066) reported a remarkable surge in both revenue and net profit for fiscal year 2024, driven by surging exports and a resurgent domestic market. The company's annual report revealed total revenue of CNY 37.22 billion and net profits attributable to shareholders reaching CNY 4.12 billion, representing a notable increase of 37.63% and 126.53%, respectively, compared to the prior year. As a result of this robust performance, the board proposed a cash dividend of CNY 1.00 per share, totaling CNY 3.32 billion, for 2024, to be paid out of profits earned in 2024. The company's financial filings have noted several material achievements, from their role in a key national research and technology project, to its export sales, production, and revenues.