Zhengzhou Yutong full-year net income up 37% to 531m yuan

Bus maker Zhengzhou Yutong Bus Co yesterday posted a 37 percent rise in 2008 net income on healthy investment returns, but warned that revenue may shrink considerably this year due to the global financial turbulence.

Net income for 2008 rose to 531 million yuan, or 1.02 yuan per share, while sales revenue rose 3.5 percent from a year earlier to 8.33 billion yuan, the Shanghai-listed firm said.

Yutong shares rose nearly 7.58 percent to close at an eight-month high of 13.62 yuan in Shanghai yesterday.