Zhengzhou Yutong Bus Co Ltd

Yutong Bus announced on September 14 that its wholly owned subsidiary Hong Kong Shengyu plans to subscribe to fund interests in Lochpine Green Fund I, LP with a capital contribution of $100 million. The fund has a target size of $1.5 billion and a term of 10 years, primarily investing in upstream and downstream carbon-neutral sectors and frontier technologies, including new lithium battery materials, green transportation, and electrification upgrades. In the first half of 2026, Yutong Bus achieved revenue of 16.719 billion yuan and net profit attributable to the parent of 1.867 billion yuan.

Yutong Bus released its 2026 half-year report, with first-half recurring net profit attributable to the parent at 1.8 billion yuan, up 15.8% year-on-year. The company's operating revenue was 16.72 billion yuan, up 3.7% year-on-year; net profit attributable to the parent was 1.87 billion yuan, down 3.5% year-on-year; net operating cash flow was 5.949 billion yuan, up 247.0% year-on-year. Among these, second-quarter recurring net profit attributable to the parent was 1.19 billion yuan, up 30.9% year-on-year. The company stated that highway market demand declined year-on-year due to adjustments in the new energy vehicle purchase tax policy and poor customer operations, but the public transit market improved, driven by the continuation of the trade-in policy and batch purchases in first- and second-tier cities. Exports showed overall improvement, with the industry's large and medium-sized bus export volume up 18.45% year-on-year and new energy bus export volume up 29.77% year-on-year. The company maintained its top position in the industry for production and sales of large and medium-sized buses.

On the 3rd, the Shanghai Composite Index rebounded in mainland China trading, closing at 4043.64, up 14.74 points or 0.37 percent from the previous day. In addition to bargain hunting after the sharp decline, buying of consumer-related stocks that had been lagging lifted the market. Fading expectations for a US rate hike provided support from the external environment, and China's services Purchasing Managers' Index significantly exceeding market forecasts also invited buying. By sector, auto-related stocks were firm, with Sailun Tire up 5.2 percent, Yutong Bus up 5.1 percent, and Foton Motor up 4.7 percent. Shipbuilding also rose, with China State Shipbuilding Corporation up 8.1 percent and CSSC Defense up 6.1 percent. On the other hand, chemical stocks were sold, with Zhejiang Juhua down 10.0 percent, and non-ferrous and precious metals also declined, with Yunnan Precious Metals down 8.8 percent. The Shanghai B-share index ended at 274.28, up 3.44 points or 1.27 percent, while the Shenzhen B-share index finished at 1117.81, down 0.14 points or 0.01 percent.