China Yuchai Intl Ltd Stock Price, News & Analysis

China Yuchai International Limited (NYSE: CYD) announced that all resolutions from its June 22, 2021, Notice of Annual General Meeting were approved during its virtual meeting held on July 23, 2021. The company, through its subsidiary Guangxi Yuchai Machinery Company Limited, is a leading manufacturer of engines for various applications in China. In 2020, it sold 430,320 engines, showcasing a strong market presence and reliable after-sales support. China Yuchai emphasizes forward-looking statements regarding its operations and potential risks, including the impact of the COVID-19 pandemic.

China Yuchai International Limited (NYSE: CYD) has announced its upcoming Annual General Meeting (AGM) scheduled for July 23, 2021, at 8:00 a.m. EDT, which will be conducted virtually due to COVID-19 restrictions. Shareholders listed as of June 7, 2021 can attend and vote online using a unique control number. Key agenda items include the adoption of audited financial statements for the year ending December 31, 2020, approval for an increase in directors' fees, re-election of directors, and appointment of independent auditors. Further details are elaborated on their investor relations website.

China Yuchai International Limited (NYSE: CYD) announced a cash dividend of US$1.70 per ordinary share for the fiscal year ended December 31, 2020. This dividend will be paid on July 8, 2021, to shareholders of record as of the close of business on June 29, 2021. The company, a major manufacturer of engines for various applications in China, sold 430,320 engines in 2020 and maintains significant market share. The announcement reflects the company's commitment to returning value to its shareholders.

On June 3, 2021, China Yuchai International Limited (CYD) announced the resignation of Chief Financial Officer Dr. Thomas Phung Khong Fock, effective June 1, 2021. Appointed as his successor is Mr. Loo Choon Sen, who brings over 23 years of financial experience, having recently worked with Schlumberger Limited and TechnipFMC. The board expressed gratitude for Dr. Phung's contributions since 2016 while welcoming Mr. Loo to advance the company's financial operations.

China Yuchai International Limited (NYSE: CYD) has entered a strategic partnership with Guangxi Shenlong Automobile Manufacturing to develop new energy vehicles. This collaboration focuses on integrating Yuchai's advanced powertrain systems, including the ISG power generation and e-CVT hybrid systems, to enhance product offerings. The partnership aims to utilize both companies' supply chains, particularly targeting growth in southeast Asian markets. Yuchai’s established presence in supplying various energy systems has already seen success with recent deliveries of new energy buses to local transit operators.

On May 14, 2021, China Yuchai International Limited (NYSE: CYD) announced the appointment of Mr. Li Hanyang as a Director, effective May 12, 2021. He replaces Dr. Han Yiyong, who retired on April 30, 2021. Mr. Li has a long history with the company, having served in various key roles since 1993, and he is currently the Chairman of the Board for GYMCL, its main operating subsidiary. China Yuchai continues to manufacture and sell a wide range of engines and power generators, achieving significant market share in China.

On March 17, 2021, China Yuchai International Limited (NYSE: CYD) announced the appointment of Mr. Li Hanyang as Chairman of its operating subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL), effective March 11, 2021. Mr. Li, a long-time employee with extensive management experience in engineering and production, replaces retiring Chairman Mr. Yan Ping. GYMCL, established in 1951, is a leading manufacturer of various engines in China, having sold 430,320 engines in 2020. The Board is optimistic that Mr. Li's expertise will aid in achieving strategic objectives.

China Yuchai International Limited (CYD) reported its 2H 2020 and FY 2020 unaudited financial results. 2H 2020 revenue rose by 18.1% to RMB 10.6 billion (US$ 1.6 billion), driven by a 31.8% increase in engine sales to 217,138 units. However, net earnings decreased by 6.4% to RMB 243.2 million (US$ 37.3 million). For FY 2020, revenue increased by 14.2% to RMB 20.6 billion (US$ 3.2 billion), but gross margin declined to 15.5%. R&D expenses grew significantly, reflecting ongoing development of new engine technologies.

China Yuchai International Limited (NYSE: CYD) will release its 2020 unaudited second half and annual financial results on February 24, 2021, before market opens. A conference call for analysts and investors is scheduled for the same day at 8:00 A.M. EST. The call will be hosted by the President and CFO, Weng Ming Hoh, alongside Dr. Thomas Phung, discussing financial results and business outlook. Interested parties can join via phone or access a webcast at the company’s website. GYMCL, a subsidiary, is a leading manufacturer of engines in China.