Ankai Bus Reports Severe Loss in H1 2009

English.chinabuses.com: according to its interim report 2009, Anhui Ankai Automobile Co., Ltd. (also known as Ankai Bus; its stock code: 000868) realized a gross income of RMB 745,008,900 (about USD 108,979,925) in the first half of this year, up by 37.31% year on year. In the meantime, its operating income and total profits stood at RMB -19,062,300 (about USD -2,788,435) and RMB -14,411,800 (about USD -2,108,344). The company’s net profits registered at RMB -7,202,600 (about USD -1,053,690), in sharp contrast with RMB 6,695,300 (about USD 979,475) registered in the first half of 2008. Its returns per share were RMB -0.02 in the first half of this year.

Due to the bleak market landscape, bus & coach industry across the globe has been severely affected. According to the newly released statistics, China’s bus sales plummeted by 33.65% year on year reaching 61,591 units in the first half of 2009.

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