Vancouver, B.C., Canada (April 1, 2011) – Clearlease.com Reports Motorcycle maker Zongshen PEM Power Systems Inc. (TSX:ZPP) said its profits soared in the fourth quarter, as it fed growing demand for higher-end gas motorcycles in China and abroad.
The company made $1.4 million, or three cents per share in net income in the fourth quarter, turning around a $4,000 loss or less than a penny per share for the same quarter last year. Revenue skyrocketed to $75.1 million, compared with $2 million in the year-earlier period.
Zongshen is a China-based, Canadian-listed manufacturing company focused on developing and selling environmentally friendly e-bikes, but also makes gas powered motorcycles.
Zongshen said sales of large gas motorcycles grew by 40 per cent in the last three months of 2010, compared to the earlier quarter, as Chinese dealers restocked their inventory to meet strong customer demand for higher-end models. It also saw higher exports to Europe and Brazil, where customers want higher-end products.
It did not make a comparison to its 2009 sales, when it was a smaller company. Zongshen grew significantly over the last year after acquiring a major Chinese motorcycle brand.
Sales were negatively impacted by a new emissions law in China that led dealers to focus on selling off older inventory before a state-imposed deadline, but the company said it expects its new models to gain a large chunk of the market as competitors lack the resources to upgrade their factories to make vehicles that are up to code.
It also is preparing to launch its new “Toronto” battery powered e-motorcycle to be sold at higher price points than gas motorcycles.
DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html
About DLC Clearlease
Equipment Leasing, Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouver, West Vancouver, Calgary, Edmonton, Kerrisdale, Coquitlam, Abbotsford, B.C Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers, DLC Clearlease is a free service that can qualify you for an automobile or equipment lease finance. You save time and effort by giving DLC Clearlease.com your information just once; DLC Clearlease has partnered with over 100 lenders to offer you the best rates and service, comparable to none. We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television,
Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
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Vancouver, B.C., Canada (April 1, 2011) – Clearlease.com Reports Motorcycle maker Zongshen PEM Power Systems Inc. (TSX:ZPP) said its profits soared in the fourth quarter, as it fed growing demand for higher-end gas motorcycles in China and abroad.
The company made $1.4 million, or three cents per share in net income in the fourth quarter, turning around a $4,000 loss or less than a penny per share for the same quarter last year. Revenue skyrocketed to $75.1 million, compared with $2 million in the year-earlier period.
Zongshen is a China-based, Canadian-listed manufacturing company focused on developing and selling environmentally friendly e-bikes, but also makes gas powered motorcycles.
Zongshen said sales of large gas motorcycles grew by 40 per cent in the last three months of 2010, compared to the earlier quarter, as Chinese dealers restocked their inventory to meet strong customer demand for higher-end models. It also saw higher exports to Europe and Brazil, where customers want higher-end products.
It did not make a comparison to its 2009 sales, when it was a smaller company. Zongshen grew significantly over the last year after acquiring a major Chinese motorcycle brand.
Sales were negatively impacted by a new emissions law in China that led dealers to focus on selling off older inventory before a state-imposed deadline, but the company said it expects its new models to gain a large chunk of the market as competitors lack the resources to upgrade their factories to make vehicles that are up to code.
It also is preparing to launch its new “Toronto” battery powered e-motorcycle to be sold at higher price points than gas motorcycles.
DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html
About DLC Clearlease
Equipment Leasing, Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouver, West Vancouver, Calgary, Edmonton, Kerrisdale, Coquitlam, Abbotsford, B.C Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers, DLC Clearlease is a free service that can qualify you for an automobile or equipment lease finance. You save time and effort by giving DLC Clearlease.com your information just once; DLC Clearlease has partnered with over 100 lenders to offer you the best rates and service, comparable to none. We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television,
Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Vancouver, B.C., Canada (April 1, 2011) – Clearlease.com Reports Motorcycle maker Zongshen PEM Power Systems Inc. (TSX:ZPP) said its profits soared in the fourth quarter, as it fed growing demand for higher-end gas motorcycles in China and abroad.
The company made $1.4 million, or three cents per share in net income in the fourth quarter, turning around a $4,000 loss or less than a penny per share for the same quarter last year. Revenue skyrocketed to $75.1 million, compared with $2 million in the year-earlier period.
Zongshen is a China-based, Canadian-listed manufacturing company focused on developing and selling environmentally friendly e-bikes, but also makes gas powered motorcycles.
Zongshen said sales of large gas motorcycles grew by 40 per cent in the last three months of 2010, compared to the earlier quarter, as Chinese dealers restocked their inventory to meet strong customer demand for higher-end models. It also saw higher exports to Europe and Brazil, where customers want higher-end products.
It did not make a comparison to its 2009 sales, when it was a smaller company. Zongshen grew significantly over the last year after acquiring a major Chinese motorcycle brand.
Sales were negatively impacted by a new emissions law in China that led dealers to focus on selling off older inventory before a state-imposed deadline, but the company said it expects its new models to gain a large chunk of the market as competitors lack the resources to upgrade their factories to make vehicles that are up to code.
It also is preparing to launch its new “Toronto” battery powered e-motorcycle to be sold at higher price points than gas motorcycles.
DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html
About DLC Clearlease
Equipment Leasing, Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouver, West Vancouver, Calgary, Edmonton, Kerrisdale, Coquitlam, Abbotsford, B.C Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers, DLC Clearlease is a free service that can qualify you for an automobile or equipment lease finance. You save time and effort by giving DLC Clearlease.com your information just once; DLC Clearlease has partnered with over 100 lenders to offer you the best rates and service, comparable to none. We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television,
Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
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