Zhengzhou Yutong Group Co., Ltd. (hereinafter referred to as Yutong Group), its head office located in Zhengzhou, Henan province, China, is a large-scale enterprise group with bus making as the core business, engineering machinery and real estate as the strategic business and at the same time giving attention to other investment portfolios. It was founded in 1993 from the assets of the former Zhengzhou Bus Manufacturing works.
In 2007, sales amount of Yutong Group reached high up to RMB 12,588,000,000, (what is this in $ or £) taking up over 22% of the domestic market share. In the same year, 25,522 units of Yutong buses were sold through out the whole year, making Yutong Group once again enter into world top 5 considering the sales volume. And among them, 3,319 buses were exported with the export amount up to USD187 million, increasing 92% compared with the corresponding period in the previouse year. Till now, the number of Yutong buses in use world wide exceeds 120 thousand, making Yutong an international large-scale bus manufacturing enterprise.
In 1997, Yutong Bus became the first domestic bus enterprise listed in Shanghai Stock Exchange，becoming a long-established blue-chip potential stock in China’s A stock market. The main economic indicators of the enterprise have been growing rapidly for ten continuous years. Yutong Bus was awarded by BAAV “The Best Export Marketing Campaign of the Year 2006”, “The Best Marketing Campaign of the Year 2007” and “Coach Builder of the Year” in 2002, 2005 and 2006.[citation (source) needed]
In Apr. 2006, “Three Ministries and Commissions” such as Science and Technology Department embarked jointly on the pilot work of enterprises with independent innovation, and Yutong Bus was designated as such an enterprise. In Aug. 2006, Yutong Bus was titled “National Vehicle CBU Export Base Enterprise”. And in the same month of this year, Yutong passed the special investigation carried out by "General Administration of Quality supervision, Inspection and Quarantine" of the P.R.C and won the first “Certificate for Product Exemption from Export Inspection” in China’s vehicle industry. In Nov. 2006, Yutong brand won “China Brand Award of the Year”(NO.1 in China’s bus industry) issued by World Brand Lab. In 2007, the value of Yutong brand has increased by RMB 471 million and grows up to RMB 7.487 billion, which makes Yutong brand continue to hold the title of No.1 Brand in China’s bus industry for successive four years. According to State Statistics Bureau, Yutong Group ranks 324 in “China’s Top 500 Enterprises” and at the same time stood 41 in “China’s 500 Most Competitive Enterprises of the Year 2006” as the only bus enterprise to enter into this list.
Another core part of the Yutong Group is Yutong Heavy Industries, which manufactures various construction equipment. There are about 3,500 employees in this part of the business, and they have more than 120 products. Yutong Heavy Industries was formed in 2003 and has had sale increases of 30% for 7 years.