Zhengzhou Yutong Bus Co Ltd, which is mainly engaged in the manufacture and sale of buses, realized RMB 563 million in net profit attributable to shareholders last year, 37.89% more than in 2008, sources reported.

In a statement filed with the Shanghai Stock Exchange, the company attributed the profit surge to expanded capacity, an optimized sales strategy, good supply chain management and strict cost control.

The company's operating revenue was RMB 8.78 billion last year, up 5.35% year on year. Basic earnings per share were RMB 1.08. The company proposed a final dividend of RMB 10 per ten shares, according to the statement.

In 2009, Yutong produced 28,625 buses and sold 28,186 buses, said the statement.

The company aims to increase its output by 20,000 units this year.