China Yuchai Intl Ltd - CYD STOCK NEWS

On December 5, 2022, China Yuchai International Limited (NYSE: CYD) announced an update regarding its subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL). Following a previous release on October 16, 2022, the U.S. Department of Commerce conducted an end-use check on GYMCL. As of this announcement, GYMCL continues to operate normally without any major supply chain disruptions. The Company remains committed to providing updates on any significant developments in the future.

China Yuchai International Limited (NYSE: CYD) announced that its subsidiary, Guangxi Yuchai Machinery Co., Ltd. (GYMCL), has been added to the U.S. Department of Commerce's Unverified List. This action was taken due to an inability to verify GYMCL's operations satisfactorily. Despite this addition, GYMCL's business continues to operate normally without significant supply chain disruptions. U.S. exporters engaging with GYMCL will need to perform additional due diligence. The company will inform stakeholders of material developments as they arise.

China Yuchai International Limited (NYSE: CYD) announced a significant order for 100 heavy-duty truck engines from Jianghuai Heavy Duty Truck (JAC HD Truck) on September 15, 2022. The order includes YCK08 and YCK11 engines for JAC HD Truck's 8×4 heavy-duty trucks, dump trucks, and 6×4 semi-trailers. These engines comply with National VI emission standards. The partnership with JAC HD Truck highlights the engines' low fuel consumption and high reliability, gaining recognition in the northern China market.

China Yuchai International Limited (NYSE: CYD) announced the successful integration of its 3.5-ton electric drive axle in an EV light-duty bus through its subsidiary Yuchai Xin-Lan. This marks its entry into the full electric light-duty bus market in Nanning, set for rollout in Q3 2022. Additionally, the Yuchai 300kW powertrain system is featured in China’s first smart mining truck, enhancing payload efficiency and reducing emissions. The company is optimistic about growth in these sectors, as indicated by President Weng Ming Hoh.

On September 12, 2022, China Yuchai International Limited (NYSE: CYD) announced the dissolution of its subsidiary, Vietnam Yuchai Machinery Services Co., Ltd. This decision stems from a restructuring initiative aimed at optimizing overseas operations. Following this change, sales to the Vietnamese market will now be managed through the headquarters of Guangxi Yuchai Machinery Company Limited (GYMCL). GYMCL, a leading engine manufacturer in China, produced 456,791 engines in 2021, showcasing its significant market presence.

China Yuchai International Limited (NYSE: CYD) reported its unaudited financial results for 1H 2022, revealing a 32.2% decline in revenue to RMB 8.6 billion (US$1.3 billion). Despite this decrease, gross profit increased to RMB 1.4 billion with a gross margin improvement to 15.9%. Net profit dropped to RMB 93.7 million (US$14 million), with EPS at RMB 2.29 (US$0.34), down from RMB 6.21 last year. Engine sales plummeted by 36.6% to 180,911 units. The company maintained stable cash reserves, paying dividends of US$0.40 per share in July.

China Yuchai International Limited (NYSE: CYD) will release its 2022 unaudited first half financial results on August 10, 2022, before the market opens. The earnings call is scheduled for 8:00 A.M. EDT, featuring President Weng Ming Hoh and CFO Choon Sen Loo presenting the financial results and business outlook. A Q&A session will follow the presentation. Participants can register for the call via a provided link, and a webcast will be accessible through the company's investor relations page.

China Yuchai International Limited (NYSE: CYD) announced the successful passing of all resolutions at its virtual Annual General Meeting held on July 22, 2022. The meeting followed the Notice of Annual General Meeting dated June 21, 2022. China Yuchai, through its subsidiary, Guangxi Yuchai Machinery Company Limited, is a leading manufacturer of various engines in China, having sold 456,791 engines in 2021. The company specializes in engine production for vehicles and machinery, including diesel, natural gas, and hybrid varieties.

China Yuchai International Limited (NYSE: CYD) has launched the YCK16H, the largest hydrogen internal combustion heavy-duty engine in China, featuring a 15.93-liter displacement and 560 horsepower. This engine is designed for various commercial vehicles and utilizes advanced technologies like high-pressure direct injection and twin scroll turbocharger for improved performance. The YCK16H accommodates multiple hydrogen fuel types, supporting China's goal for reduced emissions. This follows the previous launch of the YCK05H engine in December 2021, underpinning China Yuchai's commitment to clean energy solutions.