Bus maker Zhengzhou Yutong posts 35% profit growth

BEIJING - Zhengzhou Yutong Bus Co, China's leading bus maker, posted a net profit growth of 35.31 percent in 2015, thanks to booming sales of new energy coaches.

The company made a net profit of 3.54 billion yuan ($543 million), according to its annual report filed with the Shanghai Stock Exchange on Tuesday.

Revenue hit 31.21 billion yuan, up 21.31 percent year on year. Earnings per share stood at 1.6 yuan, compared with 1.18 yuan one year earlier.

Zhengzhou Yutong's sales of new energy coaches jumped 176.1 percent year on year to 20,446, as environmentally-conscious local authorities increasingly choose green vehicles.

The bus maker held a 20-percent share of the domestic bus market last year, and it will continue to improve its competitiveness in 2016, according to the report.

The company climbed 5.7 percent to open at 20.5 yuan per share on Tuesday.