China Yuchai Intl Ltd Stock Price, News & Analysis

On April 6, 2023, China Yuchai International Limited (NYSE: CYD) announced the incorporation of a wholly-owned subsidiary, Guangxi Xing Yun Cloud Technology Co., Ltd., with a registered capital of RMB 10 million. This new entity will focus on developing proprietary operating systems for data analytics, supporting smart and connected solutions for vehicles and machinery. Additionally, Xing Yun Cloud will oversee IT operations, maintenance, and the development of intelligent network processes for the GYMCL group. Established in 1951, GYMCL is recognized as a leading engine manufacturer in China, selling 321,256 engines in 2022. The company continues to strengthen its market position by investing in technology-driven solutions.

China Yuchai International Limited (NYSE: CYD) reported its unaudited financial results for the second half (2H) and full fiscal year (FY) of 2022. Revenue for 2H 2022 was RMB 7.5 billion (US$ 1.1 billion), down from RMB 8.6 billion in 2H 2021. Total engine sales decreased by 18.1% to 140,345 units. Despite lower sales, gross profit remained stable at RMB 1.3 billion, with a gross margin increase to 17.0%. For FY 2022, revenue dropped to RMB 16.0 billion (US$ 2.3 billion) from RMB 21.3 billion in FY 2021. Basic earnings per share were RMB 3.06 (US$ 0.44) compared to RMB 0.46 in 2H 2021. The company maintains a strong balance sheet amid challenging market conditions.

China Yuchai International Limited (NYSE: CYD) announced the appointment of Mr. Wong Hong Wai as a Director, effective March 1, 2023. Mr. Wong brings over 35 years of experience across China, Germany, Japan, Singapore, Switzerland, and the U.S. He previously held significant roles at General Motors, including M&A, strategic alliances, and risk management. His expertise is expected to enhance the company's future success. With this appointment, the board comprises 10 members, including three independent directors. Mr. Wong's qualifications include a Bachelor's in Engineering and an MBA from the National University of Singapore.

On February 9, 2023, China Yuchai International Limited (NYSE: CYD) announced new investments aimed at expanding its subsidiary, Yuchai Xin-Lan New Energy Power Technology Co., Ltd.. Three unrelated investors have committed a total of RMB 70 million, enhancing working capital for developing high-power electric drive systems and hybrid technologies. Currently, Yuchai Xin-Lan is 87.7% owned by Guangxi Yuchai Machinery Company Limited (GYMCL). The funds will support production capacity for innovative energy technologies, including fuel cell systems and electric drive systems.

China Yuchai International Limited (NYSE: CYD) will release its 2022 unaudited second half and full year financial results on February 23, 2023, before market open. An earnings conference call is scheduled for 8:00 A.M. EST on the same date, hosted by President Weng Ming Hoh and CFO Choon Sen Loo. Analysts must register in advance, while others can access a live webcast via the investor relations section of the company's website. China Yuchai, through its subsidiary, Guangxi Yuchai Machinery Company Limited, produces a range of engines and diesel generators, having sold 456,791 engines in 2021.