King Long Group's First Half 2025 Revenue Exceeds 10 Billion

King Long Group's first half 2025 performance report has been released, with total revenue exceeding 10 billion yuan, reaching 10.327 billion yuan, a year-on-year increase of 5.78%. The group achieved a net profit attributable to listed company shareholders of 116 million yuan, a significant year-on-year increase of 75.06%. King Long Group stated that the main reason for the profit growth is the steady increase in overseas markets, which has driven an increase in export business revenue and its proportion in the total revenue, making overseas markets the strongest engine for the group's performance growth.

Seizing Opportunities to Boost Export Business

In the complex and volatile global economic environment, King Long Group is committed to stabilizing and expanding its domestic market while firmly implementing the "market shift to overseas" development strategy. Through rapid product iteration in the domestic market, the group has enhanced the competitiveness of its overseas products.

In the first half of 2025, the three major vehicle manufacturing enterprises under King Long Group—King Long Bus, Golden Dragon Bus, and Higer Bus—jointly exerted efforts and demonstrated their unique strengths, forming a product matrix that precisely meets the needs of various regions around the world, resulting in a continuous flow of overseas orders.

King Long Buses sold nearly 6,000 buses overseas in the first half of the year, an increase of about 60% compared to the same period in 2024, ranking first in the national industry in terms of bus export sales for the first five months. In February, 155 King Long highway buses set sail for Jeddah Port in Saudi Arabia to serve the pilgrimage season transportation. In May, a batch of King Long new energy buses was exported to Tunisia. In June, 121 King Long new energy buses were delivered in Chile, contributing to the launch of the first 100% electric bus system city in Latin America.

Golden Dragon Buses exported nearly 5,000 vehicles in the first half of the year, a year-on-year increase of 74%, with particularly significant growth in the African market and steady progress in orders from multiple countries in Asia and Europe. 234 Golden Dragon high-end tourism buses set off from Xiamen to Jeddah Port in Saudi Arabia, an important port in the "Belt and Road" initiative; 155 Golden Dragon buses were shipped to Kuwait to assist in the renewal of local public transportation; 100 Golden Dragon school buses were sent to Oman, marking another milestone in Golden Dragon's overseas market expansion.

In April 2025, Higer Bus successfully delivered its 10,000th bus in Algeria, with the debut and signing of the new V-Series. In June, the new V-Series buses were launched in Dubai, leading a new trend in transportation in the United Arab Emirates. Currently, the new V-Series buses have received orders from more than 20 countries, including Israel, the Philippines, Italy, Qatar, the UAE, Saudi Arabia, and Peru. In addition, Suzhou King Long's high-end zero-carbon sub-brand FENCER F1 electric bus won a large-scale order of 450 buses from Chile.

In the first half of the year, King Long Group exported 14,100 buses, a year-on-year increase of 52.4%, and exported 2,047 new energy buses, a year-on-year increase of 48.1%. To date, King Long vehicles have been sold in over 170 countries and regions worldwide, achieving both quantity and quality improvements in export business, with significant results in overseas strategy implementation.

Accurately Grasping the Key to Overseas Market Growth

Behind the achievements lies King Long Group's profound understanding and precise layout of overseas markets. The group firmly implements the "market shift to overseas" strategy, fully tilting resources towards overseas markets, and has built a systemic advantage through efforts in multiple dimensions.

Firstly, rapid response and flexible manufacturing capabilities. Through an intelligent production system, leveraging big data, artificial intelligence, and 5G technologies, the delivery cycle for customer personalized orders has been shortened to less than 35 days, with the production cycle compressed to 14 days, significantly enhancing market response speed. The smart factory uses advanced technologies such as robots and digital simulation, ensuring rapid delivery of customized products while significantly improving product quality.

Secondly, localization of product adaptation and technology transfer. In response to the regulatory and environmental requirements of different regions, King Long Group actively promotes localized product improvements, such as enhancing dust-proof design for the Middle East and developing stainless steel bodies resistant to deicing agent corrosion for Nordic customers. In the new energy field, the group strengthens its overseas competitiveness through rapidly iterating domestic products and technologies, gaining a say in the international new energy bus market.

Thirdly, deepening of production capacity cooperation and KD (knock-down) model. To address trade barriers, King Long Group actively promotes a shift from product export to production capacity cooperation, helping partners establish local production bases through the KD model. Currently, the group operates more than 20 KD factories overseas, with KD projects contributing 15% to export revenue, achieving a strategic upgrade from "going out" to "going in."

Fourthly, full life cycle service guarantee. Adhering to the service principle of "ensuring continuous customer profitability," the group has established a multi-lingual, high-quality after-sales service team that is committed to reaching the site within 24 hours, regardless of pandemics or conflicts. The group has also built a comprehensive service network covering spare parts supply, technical support, and remote diagnostics, using a digital system to achieve fault warnings and spare parts pre-positioning, increasing response efficiency by 40%.

Fifthly, standard output and brand building. In Ethiopia, King Long Group successfully promoted the comprehensive adoption of Chinese new energy bus standards and core components, as well as charging facilities, laying an important foundation for subsequent market expansion in the "Global South." Meanwhile, the group continuously enhances brand influence through international auto shows, sponsorships, and social media. Since 2005, it has participated in the Belgian BUSWORLD bus show for 20 consecutive years, continuously strengthening its international brand image.

Leading Innovation and High-Quality Development

The stable growth in exports is fundamentally driven by the company's continuous innovation. Technological innovation is the core of King Long Group's competitiveness in the industry. In the first half of the year, the group achieved breakthroughs in several key technology areas, providing solid support for high-quality development.

In the field of intelligent connectivity, King Long Group continues to maintain an industry-leading position, achieving independent control of core autonomous driving technologies. Multiple autonomous driving models, including buses and sweepers, have been launched in various cities, demonstrating good commercial application prospects.

In the field of hydrogen fuel cells, the group has made significant breakthroughs in low-cost fuel cells and high-safety solid-state hydrogen storage technology. The hydrogen fuel cell heavy truck project has successfully passed the acceptance test, with the vehicle integration, intelligent energy management, and domestication of core controllers all reaching industry-leading levels.

New energy technologies are accelerating iteration, with core technologies such as integrated electric control platforms, silicon carbide control, and flat wire motor technology achieving high performance, reliability, and integration. New technologies such as the 800V high-voltage platform and V2L are entering vehicle verification. In addition, the electronic and electrical architecture has been innovatively upgraded, and the level of intelligent cockpit technology has significantly improved, continuously enhancing the product's intelligent competitiveness.

These technological achievements not only strengthen King Long Group's product advantages in the domestic market but also greatly enhance its overseas competitiveness, becoming a "hard power" for expanding into international markets. In the future, with further breakthroughs in new energy and intelligent connectivity technologies and continuous deepening of overseas market layout, King Long Group will surely achieve greater success on the global stage, injecting continuous green power and Chinese wisdom into building a community with a shared future for mankind.