On August 25, 2025, Yutong Bus Co., Ltd. released its 2025 half - year report. The report shows that in the first half of the year, the company sold a total of 21,321 buses, an increase of 3.73% year - on - year, and achieved a revenue of 16.129 billion yuan. Yutong Bus's production and sales of large and medium - sized buses continue to rank first in the industry, maintaining its position as the industry leader. Against the backdrop of stable operations, Yutong Bus continues to reward investors, with the company planning to implement a cash dividend of 5 yuan (tax - inclusive) per 10 shares.
In the first half of the year, Yutong Bus demonstrated strong anti - cyclical capabilities, achieving remarkable business results and showcasing the high - quality development strength of a leading enterprise. In the first six months, Yutong Bus sold a total of 8,662 large and medium - sized seat buses, with a market share as high as 55.4%, an increase of nearly 7 percentage points year - on - year.
In the urban bus market, the continuous implementation of the new energy "trade - in" policy, coupled with the fact that about 100,000 new energy buses launched between 2015 and 2017 are gradually entering the replacement period, the industry is now experiencing a recovery opportunity driven by "policy - driven + demand renewal," showing a steady upward development trend.
Data shows that in the first half of 2025, the domestic sales of large and medium - sized urban buses reached 7,406 units, an increase of 38.5% year - on - year. Among them, Yutong Bus's performance was particularly outstanding, with sales of 1,647 units, a year - on - year increase of 127.5%, and a market share of 22.2%, an increase of 8.7 percentage points year - on - year, showing a strong growth momentum.
In the key track of new energy urban buses, Yutong continues to maintain its leading advantages. In the first six months, the sales of new energy urban buses reached 1,578 units, an increase of 118% year - on - year, far exceeding the industry's average growth rate of 32.66%. The market share increased to 21.68%, year - on - year. This result reflects Yutong's systematic competitiveness in new energy technology, product layout, and market response.
Behind the continuous industry - leading performance is Yutong Bus's forward - looking insight into market demand, and its early layout in the two major fields of tourism and public transport. It has won the market initiative with a precise product matrix, driving continuous business growth.
In the tourism bus market, the company closely follows the trend of high - end and customized tourism consumption. Focusing on the three major directions of "high - end, new energy, and intelligent networking," it has launched customized models such as the Tianyu S12 and Tianjun light - duty bus, actively responding to the small - group and high - quality travel needs of tourists. Among them, the Tianyu S12 is the bus with the most patents in the industry so far. It has the highest body (3.815 meters) and the widest car window view (18.4 square meters) in the industry, setting a new standard for high - end buses and becoming the first high - end tourism bus in China with a full - view, multi - dimensional design for a better travel experience.
In the urban bus field, Yutong continues to invest in the transformation of public transport. It has not only launched a variety of customized urban buses such as micro - circulation and double - decker sightseeing buses, which have been highly recognized by the market, but also launched the industry's first 9 - meter "0" rear - suspension electric bus - Yutong E9PRO. This move completes the full - series low - floor layout from 5 to 18 meters and establishes a full - meter - segment low - floor product matrix, setting a new benchmark for technological development in the industry.
Through continuous leading product strategies, Yutong has further strengthened its position as the industry leader, showing strong market control and innovation capabilities.
In the first half of 2025, Yutong completed bulk deliveries in core regions such as Europe, Africa, Central Asia, and the Middle East. In the European market, which has strict requirements for product technology and environmental protection standards, Yutong achieved "repeat purchase + bulk" dual breakthroughs. It delivered 287 pure - electric buses to Norway and 100 pure - electric buses to Greece, and both were repeat orders from customers. This not only proves that Yutong's new energy buses have reached international high - end standards in terms of range, safety, and intelligence, but also marks the deep accumulation of brand trust in the European market.
In the Central Asian market, Yutong delivered nearly 1,000 buses in the first half of 2025. It supplied 700 fuel - powered buses to Turkmenistan to meet local basic passenger transport needs; delivered 200 new energy buses to Uzbekistan to help its public transport electrification transformation; and exported 95 gas - powered buses and 57 light - duty buses to Kyrgyzstan, accurately matching the local energy structure and short - distance travel needs. So far, Yutong's total sales in the five Central Asian countries have exceeded 10,000 units.
The picture shows the 10,000th bus in Central Asia rolling off the production line.
With the further release of global market demand, Yutong added several significant orders in July - August 2025, injecting a "strong heart - stimulating drug" for the full - year export growth. It signed a purchase agreement with Pakistani partner WIL for 400 electric buses, setting a new record for the largest single - order in Pakistan's new energy public transport, public transport sub - market, and commercial bus fields. Meanwhile, 110 high - end customized Yutong C13PRO buses have been officially put into operation at the global energy giant Saudi Aramco.
Yutong's overseas breakthrough is not just a simple expansion of scale, but a unique competitiveness built on customized innovation based on different market characteristics and rooted in technological research and development. Targeting the international high - end market demand, Yutong launched the U12DD pure - electric double - decker bus. Facing the Mexican market, Yutong custom - made the first 26 - meter pure - electric articulated bus, setting a new record for the longest - segment pure - electric bus exported by itself. As of the end of the reporting period, Yutong has exported more than 110,000 buses in total, and has achieved bulk operations in nearly 60 countries and regions, providing support for global green transportation and carbon reduction.
Yutong Bus has always placed research and development innovation and technological independence at the core of its strategy. In the first half of 2025, it continued to strengthen R & D investment and achieved multiple technological breakthroughs in key areas such as battery life and intelligence, laying a solid foundation for the company's high - quality development.
During the reporting period, Yutong Bus's R & D expenditure reached 746 million yuan, accounting for 4.63% of its operating revenue, which is at the industry - leading level. The R & D expenditure was mainly directed towards the research and development and application of intelligent networking, assisted driving and other cutting - edge technologies, as well as the development of light - duty pure - electric series products.
Yutong has always insisted on using technology and product innovation to promote the high - quality development of the industrial chain. The company adopts the development concept of "lowest total life - cycle cost" and focuses on the industry's common key technologies - "electric drive, electric control, and battery" - to carry out systematic independent research and development. It has successively achieved multiple breakthroughs in core fields such as efficient electric drive, high - safety electric control system, multi - scenario fuel cell power system, and intelligent networking. By independently mastering key technologies such as electrification, intelligent networking, safety, energy saving, and comfort, Yutong has not only solidified the research and development foundation of its full - series bus products but also gradually built a technological moat facing the future.
