Core Viewpoint - The company reported significant growth in bus sales and production for June 2025, indicating a strong recovery and improvement in the structure of sales, particularly in the new energy sector [1] Group 1: Sales and Production Performance - In June 2025, the company achieved bus sales of 5,919 units, representing a year-on-year increase of 24.8% and a month-on-month increase of 93.9% [1] - The bus production for June 2025 reached 5,528 units, showing a year-on-year growth of 29.9% and a month-on-month growth of 61.0% [1] - For the first half of 2025, the company sold 21,000 buses, a year-on-year increase of 3.7%, while the sales for Q2 2025 were 12,000 units, reflecting a year-on-year decrease of 4.0% but a month-on-month increase of 36.6% [1] Group 2: Market Expansion and Orders - The company secured a project for the replacement of 68 old buses in Sanmenxia, Henan Province, with a total bid amount exceeding 40 million yuan, averaging 635,000 yuan per bus [2] - The domestic market is expected to see accelerated orders and deliveries for new energy buses in the second half of the year due to effective implementation of bus scrapping and replacement policies [2] - In the overseas market, the company has made significant progress in Central Asia, winning contracts for 700 fuel buses in Turkmenistan and 200 new energy buses in Uzbekistan, along with a recent order for 1,000 units in Kazakhstan [2] Group 3: Product Development and Delivery - The company delivered its first batch of six new generation pure electric intercity buses, IC12E, to an Italian operator, marking a breakthrough in the European market [2] - The IC12E model is designed for high-frequency intercity operations, featuring a continuous power output of 215/250 kW and a peak output of 350 kW, with a range of 610 kilometers under Sort2 conditions [2] Group 4: Financial Forecast - The company is projected to achieve revenues of 42.97 billion yuan, 48.43 billion yuan, and 52.97 billion yuan for the years 2025 to 2027, with net profits attributable to the parent company expected to be 4.88 billion yuan, 5.68 billion yuan, and 6.30 billion yuan respectively [3]
宇通客车(600066):6月如期迎来季末交付高峰 结构优化有望带动盈利端增长