Yutong bus: Profit increased by more than 50% in the first half

Yutong Bus July 8 announced the interim results of the announcement that the net profit attributable to the owner of the parent company is expected to increase by more than 50% over a year earlier. As a leading bus industry, Yutong passenger car sales reached nearly 17,000 a year, up 49% Year-on-year.　　Wanguo that, with the second half of the year, especially in the four quarter demand season, the company expects the second half of the demand will continue to grow upward, the annual sales of about 35,500 vehicles. According to the research on the securities, the company plans to sell up to 50,000 units by 2012, love to build securities said, taking into account the process of release of capacity to be built, the annual composite growth rate of yutong is expected to exceed 20%. As a leading company growing up in the competition, new entrants will not be able to shake their industry position and develop faster than the industry.　　National Gold Securities analyst Dongyakuang that the "defensive" characteristics of the bus industry has highlighted the value of the company's investment. In addition, Yutong Bus company itself stable operation, cash management ability, dividend ratio of higher characteristics are also well received by analysts.　　The company has an average dividend rate of 4.31% per cent for nearly 3 years, with a dividend rate of 5.6% per cent this year, much higher than the term deposit rate. Oriental Securities are expected, Yutong bus 2010, 2011 respectively to achieve 1.51 yuan per share, 1.77 yuan, to give its 2010 15 times times the target price ratio. Wanguo, National Gold Securities, BOC International has been given a buy rating.