China Yuchai Intl Ltd Stock Price, News & Analysis

China Yuchai International (NYSE: CYD) has announced a cash dividend of US$0.38 per ordinary share for the fiscal year 2023. The dividend was declared by the company's Board of Directors and will be paid on August 28, 2024 to shareholders of record as of the close of business on August 19, 2024. This announcement demonstrates China Yuchai's commitment to returning value to its shareholders and may be seen as a positive signal regarding the company's financial health and confidence in its future prospects.

China Yuchai International (NYSE: CYD) has announced that it will release its unaudited 2024 first-half year financial results on Monday, August 12, 2024, before the market opens. The company will host a conference call and audio webcast for the investment community at 8:00 A.M. Eastern Daylight Time on the same day.

The call will be hosted by Mr. Weng Ming Hoh, President, and Mr. Choon Sen Loo, Chief Financial Officer, who will present and discuss the financial results, followed by a Q&A session. Analysts and institutional investors can register for the call, while other interested parties can access a simultaneous webcast on the company's website.

China Yuchai International (NYSE: CYD) has announced a significant advancement in the wind energy sector through its subsidiary, Guangxi Yuchai Foundry Company The company has launched the QT700-10 turbine fan main shaft, developed using proprietary high-strength and high-elongation ductile iron material.

Key points:

• The first batch of QT700-10 shafts has been successfully tested for 6 months
• Production capacity expanded to 1,000 units annually
• 15%-30% weight reduction compared to conventional products
• Compatible with wind turbines of 5MW capacity and above
• A 5MW turbine can generate 5,000 kilowatt-hours of electricity per hour

This innovation demonstrates China Yuchai's commitment to advancing clean energy technology and expanding its offerings in the renewable energy sector.

China Yuchai International (NYSE: CYD) has announced its Annual General Meeting (AGM) on August 7, 2024, at 9:00 a.m. (Singapore Time) at the Grand Copthorne Waterfront Hotel Singapore.

Shareholders will discuss and vote on several key matters, including the adoption of the audited financial statements for the year ended December 31, 2023, and increasing the Directors' fee limit from $250,000 to $552,384. Additional agenda items include re-electing Directors, authorizing the Board to fill vacancies, and re-appointing Ernst & Young LLP as the independent auditors.

Shareholders registered as of June 21, 2024, can attend and vote. Proxy voting is also available with instructions to be followed as per the proxy form.

China Yuchai International (NYSE: CYD) announced a share buyback plan approved by its Board of Directors. The company may repurchase up to $40 million or 4 million of its ordinary shares, whichever comes first, through open market purchases, private negotiations, or other legal means. The buybacks will be funded from the company's operating cash flow and existing cash balance. This plan aims to optimize shareholder value and can be adjusted, suspended, or discontinued at any time. The repurchased shares will be held as treasury shares.

China Yuchai International (NYSE: CYD) announced the approval of two equity incentive plans for its subsidiaries, Guangxi Yuchai Machinery Company (GYMCL) and Guangxi Yuchai Marine and Genset Power (MGP). The plans will increase MGP's registered capital by RMB28 million (US$3.94 million), representing 6.54% of MGP's equity. Selected employees of GYMCL will contribute RMB82.88 million (US$11.66 million) to acquire this equity at RMB2.96 per RMB1.0 registered capital. The equity plans will take effect upon GYMCL shareholders' approval on June 20, 2024. The plans aim to align employee interests with long-term company growth. An estimated share-based expense of RMB48.81 million (US$6.87 million) will be amortized over six years.

On May 21, 2024, China Yuchai International launched 50 green energy buses equipped with Yuchai Xingshunda hydrogen fuel cells in Beijing. These buses utilize Yuchai's 82kW and 125kW hydrogen fuel cell systems, which offer over 43% and 45% energy efficiency respectively and a service life of over 15,000 hours. The 82kW system is suitable for lighter vehicles while the 125kW system is for heavier applications. This initiative aligns with China's 'double carbon' goal, aiming for higher energy efficiency, zero emissions, and low noise. The launch signals the company's commitment to advancing hydrogen technology and sustainable transportation.

China Yuchai International (NYSE: CYD) announced that its subsidiary, Yuchai, has been appointed as a Committee Member of the new Hydrogen Combustion Engine Innovation Consortium. This Consortium aims to develop hydrogen combustion engines for various industries in line with China's 'double carbon' goals. Yuchai's expertise in hydrogen combustion engines has led to its appointment, with a focus on contributing to China's low-carbon and zero-carbon internal combustion engine development.

Yuchai has been a pioneer in hybrid power systems and new energy products, releasing several new energy power system products in 2019. The company's engines using alternative fuels like hydrogen will support China's emission reduction goals. At the 2024 World Internal Combustion Engine Conference, Yuchai showcased its progress in hydrogen engine research and development, aligning with China's carbon neutrality objectives.