YTCO(SH:600066) Xin Lang Cai Jing·2025-11-06 00:26Group 1 - The company reported a total bus sales of 3,040 units in October, a year-on-year decrease of 5.6% and a month-on-month decrease of 36.1% [1] - The cumulative bus sales from January to October reached 37,000 units, representing a year-on-year growth of 5.9% [1] - The company’s production in October was 3,228 units, down 9.3% year-on-year and down 27.4% month-on-month, indicating a strong order backlog [1] Group 2 - The company experienced strong single-unit profitability in Q3, benefiting from robust export demand, with both single-unit revenue and net profit increasing [1] - Q4 is expected to see continued improvement in profitability due to ongoing export deliveries and an optimized export structure, particularly in the European new energy segment [1] - The company has maintained a high dividend payout ratio of 74% since its listing, with a dividend yield of nearly 6%, significantly outperforming the automotive sector and the A-share market [2] Group 3 - Revenue forecasts for the company from 2025 to 2027 are projected at 430.4 billion, 527.4 billion, and 619.4 billion yuan, with net profits of 49.0 billion, 62.3 billion, and 76.3 billion yuan respectively [2] - The company is expected to attract long-term capital allocation due to its stable dividend policy and strong profitability resilience [2]