China Yuchai Intl Ltd Stock Price, News & Analysis

China Yuchai International Limited (CYD) reported preliminary Q3 and nine-month results for 2020, showing significant revenue growth amid COVID-19 challenges. For Q3, revenue reached RMB 5.4 billion, up from RMB 3.3 billion in 2019. Unit sales surged to 118,488 engines compared to 70,140 last year. Net earnings attributable to shareholders rose to RMB 108.4 million, up from RMB 50.3 million. For the first nine months, revenue increased to RMB 15.4 billion, with net earnings of RMB 414.1 million versus RMB 395.3 million in 2019.

China Yuchai International Limited (NYSE: CYD) has revised its financial reporting schedule from quarterly to semi-annual and annual reporting. The next financial results will be released in 2021 for H2 2020 and the fiscal year ending December 31, 2020. The Board of Directors believes this change will enhance focus on long-term strategic goals amidst evolving automotive technology. The Company remains dedicated to long-term shareholder value and compliance with SEC and NYSE regulations.

On August 31, 2020, China Yuchai International Limited (NYSE: CYD) appointed Mr. Stephen Ho Kiam Kong as a new director. He brings extensive experience from his roles as CEO of Hong Leong Asia Ltd and former CFO at Wilmar International. Mr. Ho has a proven track record in financial management and holds significant knowledge of the Chinese market. His appointment enhances the board, which now consists of nine members, including three independent directors. The board believes Mr. Ho's expertise will contribute positively to the company's strategic direction.

China Yuchai International Limited (CYD) reported robust financial results for Q2 2020, with revenue soaring by 34.7% to RMB 6.5 billion ($925.2 million), and net earnings up 66.4% to RMB 244.7 million ($34.6 million). The gross margin was 14.5%, slightly lower than 14.7% in Q2 2019. Total engines sold increased 32.0% to 145,278 units. For H1 2020, revenue rose by 10.3% to RMB 10.0 billion ($1.4 billion), though net profit decreased to RMB 305.7 million ($43.2 million).

The company continues to invest in R&D, focusing on advanced engine standards.

China Yuchai International Limited (NYSE: CYD) will announce its unaudited second quarter 2020 financial results on August 12, 2020, before market opening. The announcement will be followed by a conference call at 8:00 A.M. EDT, featuring President Weng Ming Hoh and CFO Dr. Thomas Phung discussing results and future outlook. Interested participants can join via dial-in or audio webcast. China Yuchai, through its subsidiary GYMCL, is a major manufacturer of engines for various applications in China, selling 376,148 engines in 2019.

China Yuchai International Limited (NYSE: CYD) announced the resignation of Mr. Tan Eng Kwee as a Director, effective immediately. Mr. Tan's departure includes leaving his non-voting observer role on the Audit Committee as of July 20, 2020. He joined the Board in 2019, and the Board expressed gratitude for his contributions. China Yuchai, through its subsidiary GYMCL, is a leading manufacturer and distributor of engines in China, including diesel and hybrid engines, with a significant market share.

China Yuchai International Limited (NYSE: CYD) announced that all resolutions from its Notice of Annual General Meeting dated June 16, 2020, were passed during the virtual AGM held on July 17, 2020. The company, through its subsidiary GYMCL, is a leading manufacturer and distributor of engines in China, known for producing a range of engines for various applications. In 2019, GYMCL sold 376,148 engines, highlighting its strong market share and reputation. The company continues to face risks due to uncertainties related to the COVID-19 pandemic which may impact operations and financial performance.

China Yuchai International Limited (NYSE: CYD) has announced a new strategic partnership with Sany Truck to enhance cooperation in technology, marketing, and resource sharing. This partnership aims to position Yuchai as a strategic OEM supplier to Sany Truck. Sany, a leading global manufacturer of construction equipment, operates 25 manufacturing bases and has a vast network of agents and suppliers worldwide. Yuchai's President expressed pride in the partnership, highlighting its potential to bolster Sany's growth with advanced manufacturing capabilities. In 2019, Yuchai sold 376,148 engines, solidifying its market presence.

China Yuchai International Limited has scheduled its Annual General Meeting (AGM) for July 17, 2020, at 8:00 a.m. EDT, to be held virtually due to COVID-19. Only members registered by June 1, 2020, can attend and vote. Key agenda items include adopting the 2019 financial statements, approving an increase in Directors' fees from US$250,000 to US$569,013, and re-electing retiring Directors. The independent auditor, Ernst & Young LLP, will also be re-appointed. Members are encouraged to submit proxies ahead of the meeting.