Chinese bus maker Anhui Ankai Automobile Co., Ltd. (000868.SZ) said Wednesday evening that the company had signed a contract to sell 400 Ankai-branded buses to a related party.
The contract amount is 280 million yuan. Ankai's related party is Beijing Ankai North China Automobile Sales Co., Ltd., in which Ankai holds a 40 percent stake.
In the past three years, Ankai reaped 11.57 million yuan, 22.45 million yuan and 6.49 million yuan respectively from its sales to the related party, which accounted for 0.3 percent, 0.63 percent and 0.13 percent of the company's total sales value in the years.
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