ZTBH(SZ:000957)2022-12-06 07:28Company Overview - Zhongtong Bus was established in 1958 and began producing buses in 1971 [2] - The company went public in 2004 and started developing new energy buses in the same year [3] - In 2015, Zhongtong sold 17,599 buses, including 10,498 new energy buses, achieving a net profit of 399 million CNY [3] - In 2016, sales increased to 18,466 buses, with 10,105 being new energy buses, resulting in a net profit of 585 million CNY [3] Strategic Development Plan - The company's 13th Five-Year Plan focuses on "innovation, coordination, green, openness, and sharing" [3] - Emphasis on improving quality and efficiency, with a focus on supply-side structural reform [3] - Key initiatives include enhancing core capabilities, implementing smart manufacturing, and promoting sustainable development [3] Export Market Distribution - Zhongtong has exported to over 100 countries and regions, with major markets in the Middle East, North America, South America, East Asia, and Southeast Asia [4] Market Focus and Future Plans - In 2016, the company prioritized new energy buses and aimed to capture a larger market share [4] - The 2017 focus includes five key projects: new energy "cultivation project," conventional bus "revitalization project," scenic and school buses "revitalization project," logistics vehicles "sprint project," and overseas marketing "enhancement project" [4] Industry Outlook - In the first five months of 2017, production of buses over 5 meters decreased by 38.28%, with 55,600 units produced [4] - The production of buses over 6 meters fell by 47.96%, totaling 28,375 units [4] - The market for new energy buses is expected to recover, with increasing demand from group and rental bus users [4] - In 2016, sales of highway buses over 5 meters reached 101,200 units, with new energy buses accounting for only 17.19% of total sales [4] - The current market share of new energy buses is around 5%, indicating significant replacement potential [4]