129834178851827500_4Yutong Bus and then expanding capacity 20,000 depreciation increased pressure
On the occasion of the 10,000 capacity has not yet been put into operation, Yutong (600066.SH) and then throwing 20,000 expansion plan, the largest continuous investment demonstrates industry leading Yutong's desire for complete ease production bottlenecks. However, investment in new capacity will be greatly increased depreciation pressure after being outside as a "reward" incentive programme to complete are no longer easily. By YutongCar plan, annual production capacity of 10,000 units of energy-saving and new energy passenger car production base will be put into operation by the end of this year. Through bus, but decided on a not yet production bases for technical transformation and supporting construction, invested $ 2.5 billion, efforts added production capacity of 20,000 units. Yutong Bus, this project will use a flexible production line, in part of the original project on the basis of new equipment, production lines�� Planning of 817 acres, total investment of up to $ 1.4 billion. In addition, in the vicinity of the base construction and management centre and the Centre for research and development, investments reached $ 1.1 billion. Yutong Bus interview with Sinorama reporter Li Yu to the Secretary of the Board said, the rapid expansion of production capacity major consideration is the company subject to the capacity of the bottleneck, the hope to significantly ease capacity constraints. At present, YutongPassenger capacity to 35
Diablo 3 CD-KEY,000 units, which also includes 5,000 special vehicles of the released production in late 2011. Yutong passenger cars Sales in 2011 to 46,000 vehicles, when capacity utilization than 150%, which is also in Yutong Bus, light bus order in the initiative to give up part of implementation in the context of. 10,000 energy-saving and new energy vehicles to be built capacity andModification of 20,000 capacity, Yutong passenger cars when production capacity will reach 65,000 vehicles, greatly ease the long-term productivity bottlenecks restricting the development of the company. Li Yu said, "added 20,000 capacity, in fact, is the temporary suspension of technical innovation project of reboot, project funding to raise. "In 2010, Yutong Bus decided to increase 20,000 capacity through technical innovation, but was due toAdjusting land use planning of Zhengzhou municipal government, ready to build the land is no longer classified as industrial land, in October 2011, Yutong Bus stop Reformation. In addition
wow power leveling, Li Yu told reporters, Yutong introduce restricted stock incentive plan is challenged by an external, main is not to explain to investors, leading to misunderstanding in the market, the companyThe unexpected. Yutong Bus has announced incentive plans, discount price of 50% to grant restricted stock to executives and key employees, requirements for 2012-2014 year compound annual growth rate in revenues and net profit reached 12%. This low price and low target programme widely questioned by the investor. According to Li Yu, Yutong Bus wasTarget is in fact "after considering the cost of incentive programme" incentive cost net profit growth in the lower part. In addition, as companies accelerate capacity expansion in recent two years, Yutong Bus has always taken a conservative way of accelerated depreciation, which in previous years will have a huge amount of depreciation expense
Rift Platinum, will drive down earnings growth. Yutong passenger cars at the beginning of this year's rights manual used in manyInk describes the impact of depreciation for companies, companies are expected to added depreciation amount of 140 million dollars a year. "It's just rights project construction of 10,000 units of production depreciation, and accelerated depreciation, the early depreciation amount is greater. "Li Yu said," with its own funds will promote capacity building to 30,000 vehicles, a few years ago has the potential to increase depreciation expense of $ 600 million per year. "As far asEstimation of securities analyst Wang Dean, in 2011 the company depreciation of about 210 million Yuan, due to significant expansion, 2012-2014 new depreciation amount is about $ 100 million, $ 490 million and $ 680 million. "Although the added capacity, but depreciation pressure. "In 2011, Yutong Bus after deducting non-recurring profit and loss of the net profit to $ 1.14 billion. ��After considering the high incentive costs and depreciation costs, we believe that the incentive targets very challenging, and stress. "Li Yu told reporters," Yutong buses will be a critical period of development during the last years, especially due to the capacity to improve the impact of various set in recent years. Due to accelerated depreciation of Yutong buses take conservative financial way, three yearsHou, effects of depreciation will reduce, company sales will also be straightened out, is expected to once again entered a period of rapid development. In this critical period of a need to mobilize the enthusiasm of the staff, especially the core staff of the company. "Yutong Bus expansion stimulated, on June 4, huzhi its biggest drop this year to one-day car plate almost fell under the condition of, was alone in the field of passenger cars, *STThe Yellow Sea (600,579.
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