Zhongtong Bus won the subsidy of 2 billion yuan for the promotion of national new energy vehicles in 2015

Zhongtong Bus announced at noon on December 12 that it was based on the National Notice on Promoting the Application and Promotion of New Energy Buses (Cai Jian [2013] No. 551) and the Ministry of Finance on the Provision of Energy Saving and Emission Reduction Funds for 2015. The New Energy Vehicle Subsidy Clearing and New Energy Bus Operation Subsidy Notice (Cai Jian [2016] No. 816) and other relevant regulations and the sales of the company's new energy buses. Recently, the company received the payment from the Liaocheng Finance Bureau to the company. In 2015, the national new energy vehicle promotion cumulative subsidy amounted to 203.61 million yuan.

The amount will directly offset the accounts receivable formed by the company's sales of new energy buses. The receipt of the funds will improve the company's cash flow, reduce financing costs and have a positive impact on business performance.