China Yuchai International Limi (NYSE:CYD)

First Quarter 2020 Financial Results

• Revenue decreased by 18.1% to RMB 3.4 billion (US$ 481.2 million) compared with RMB 4.2 billion in the first quarter of 2019.
  
• Basic and diluted earnings per share were RMB 1.49 (US$ 0.21), compared with RMB 4.85  for the first quarter of 2019.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We have been dealing with unprecedented challenges during the first quarter of 2020.  The COVID-19 pandemic has created major disruptions in the automotive industries in China, affecting customers, suppliers, workers, the service network and other occupations. But we believe that, barring any unforeseen circumstances, the business environment will improve over the remainder of the 2020 year."

"Our operational and financial results reflected the impact as the Chinese government mandated a nationwide lockdown to limit the spread of the COVID-19 outbreak, which led to a massive disruption to the movement of products and people.  We are now seeing those restrictions being lifted in nearly all provinces and cities. As for GYMCL, we have returned to normal operations at all our facilities."

"We remain committed to building shareholder value and have announced a cash dividend of US$ 0.85 per ordinary share to be paid on July 31, 2020."

Fourth Quarter 2019 Financial Results

• The revenue for the fourth quarter of 2019 increased by 25.4% to RMB 5.7 billion (US$ 814.6 million) from RMB 4.5 billion for the fourth quarter of 2018. The revenue increase was mainly due to a change in product mix.
  
• Basic and diluted earnings per share were RMB 5.13 (US$ 0.74) compared with RMB 4.69 in the fourth quarter of 2018.
  
  

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We closed out the year on a high note as we reported unit sales growth in a number of engine markets in the fourth quarter of 2019. Our growth validated our strategy of reaching multiple market segments with a broad range of advanced powertrain solutions." 

"Our ongoing and significant investments in R&D and manufacturing processes enabled us to be one of the first-to-market leaders to introduce a large portfolio of engines compliant with the more stringent emission standards as those standards are undergoing nationwide implementation. The Yuchai brand will continue to be one of the technology innovators and leaders in the Chinese engine markets. During 2019, we also introduced 4 new energy powertrain systems with seven new products as part of our new strategy."

"On a separate note, on March 10, 2020, a dividend for the 2019 year of RMB 402,040,944 was approved by GYMCL shareholders for all shareholders. China Yuchai has a 76.4% ownership of GYMCL and the dividend will be paid to the Company in due course. This dividend attests to the financial stability and commitment to the Company's long-term shareholders during the current difficult market environment."

SINGAPORE, March 10, 2020 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or "the Company"), a leading automotive manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that GYMCL has introduced an advanced high-powered marine engine to address the growing demand of the domestic marine industry, particularly vessels in the yacht class.

Stronger, lighter and more compact engines are typically required for the drivetrain in the yacht class of boats. The mainstream product market for Chinese boat engines is presently monopolized by imported brands.

To address this market opportunity, GYMCL launched a high-powered boat engine project in 2019. The new boat engine optimizes the existing design of the Yuchai model YC6MJ engine with innovative technology tailored for the yacht-class engine requirements.

A number of innovative technologies were integrated into Yuchai's unique core technologies in developing the YC6MJ marine engine. These innovations have resulted in the YC6MJ marine engine's kilowatt-to-liter power being increased to 50.1kW/L, with a weight-to-power ratio of the YC6MJ at 2.0kg/kW, and the volume-to-power ratio has reached 0.003m3/kW.

After the completion of bench testing, the marine YC6MJ model will quickly enter the OEM certification phase.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We are again using our extensive engine expertise and broad product breadth to fill a domestic Chinese market opportunity. The YC6MJ engine will deliver to our customers advanced yacht-class engine performance." 

SINGAPORE, Nov. 19, 2019 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or "the Company"), a leading automotive manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today GYMCL's 71.8%-owned subsidiary, Guangxi Yuchai Machinery Monopoly Development Co., Ltd. ("YMMC") has registered in Vietnam a new wholly owned business enterprise, Vietnam Yuchai Machinery Services Co., Ltd. ("VYMS"), with a paid-up capital of USD500,000 funded through internal sources to expand operations there.

The goal of VYMS is to facilitate the greater market penetration of the Vietnamese market with China Yuchai's products and services. VYMS will be instrumental in providing wholesale and retail distribution, technical advisory and consulting, engine maintenance and repair services.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We view our neighboring nation as an excellent opportunity to expand our international footprint. Strategically located in Southeast Asia and blessed with a fast-growing young population, Vietnam expanded its GDP by 7.8% in 2018. We have established an engine business in Vietnam, and our engines can assist in the further development of the country's economy. We look forward to continuing to grow our market presence and customer base in Vietnam."  

SINGAPORE, July 29, 2019 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai"), a leading automotive manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that it has entered into a new strategic partnership with the Foton Motor Group ("Foton") to enhance their core competitiveness.

Since its inception in 1996, Foton, as a subsidiary of the Beijing Automotive Industry Holding Co., Ltd., has become one of the top 5 players in China. Foton produces a wide range of commercial vehicles including light-duty, medium-duty and heavy-duty trucks, vans, pickup trucks, buses, and construction machinery vehicles.

GYMCL and Foton have reached agreement on a series of important areas of cooperation such as product support for National VI-compliant engines and technologies, overseas market development, and new energy product development. This partnership is a major milestone and new chapter between the two parties, a leading vehicle manufacturer and a leading powertrain system developer and manufacturer.

With a long-standing track record of engine development including 6 different platforms and 11 series of new products compliant with the National VI emission standards with a power range from 100 to 660 horsepower, GYMCL plans to improve all products' thermal efficiency. In addition, GYMCL's manufacturing operations have become more automated and greener with less pollution. These green factories implement digital controls of the whole product manufacturing process, from the production mode of large assembly lines to customized scale production and development, with the support of a new generation of information technology, Internet of Things technology, intelligent science and technology.

Earlier in 2019, GYMCL held a New Energy Power Strategy and Product Launch Conference in Beijing, and introduced four new energy power systems, including an integrated power generation engine powertrain, ECVT power-splitting hybrid assembly, integrated electric drive bridge assembly, and a fuel cell system. New energy technology is a key focus of the partnership for both Foton and GYMCL for the future. This partnership provides Foton access to the ongoing technology advancements at GYMCL to ensure the performance and quality of their vehicles.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "Changes in automotive technology, especially the upcoming National VI standards implementation and the evolving new energy platforms, are creating change in the Chinese automotive industry. The challenging complexity of these changes is requiring new and stronger alliances with deeper cooperation to meet the needs of end market customers."

First Quarter 2019 Financial Results

• Net revenue was RMB 4.2 billion (US$ 618.3 million) compared with RMB 4.3 billion in the first quarter of 2018;
• Basic and Diluted earnings per share were RMB 4.85 (US$0.72) compared with RMB 5.94  and RMB 5.93 respectively, in the first quarter of 2018.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We are well positioned with our broad portfolio of National VI and Tier 4 engines to meet the challenges of the new upcoming emission standards. Our new joint venture with Eberspaecher Exhaust Technology International GmbH will provide a ready supply of these important emission systems for the future."

"We continue to build on our strength to provide the necessary resources to achieve our strategic goals."

SINGAPORE, May 7, 2019 /PRNewswire/ -- China Yuchai International Limited (CYD)("China Yuchai" or the "Company") announced today the sale by its indirect subsidiary Venture Delta Limited ("VDL") of 4,782,764 of VDL's 10,122,667 voting shares held in Thakral Corporation Ltd ("Thakral"). 

Pursuant to the voluntary conditional cash partial offer (the "Partial Offer") made on March 4, 2019 by W Capital Markets Pte. Ltd. for and on behalf of Prime Trade Enterprises Limited (the "Offeror"), to acquire 26,510,000 ordinary shares in the issued and paid-up share capital of Thakral (the "Offer Shares"), VDL tendered an aggregate of 4,782,764 shares in Thakral to the Offeror, comprising:

i. VDL's acceptance of the Partial Offer of 28.9 per cent of VDL's shares in Thakral (comprising 2,925,450 shares) ("Relevant Percentage Offer Shares"); and

ii. the shares tendered by VDL in excess to the Relevant Percentage Offer Shares and accepted by Offeror under the Partial Offer (comprising 1,857,314 shares) ("Excess Shares"),

(the Relevant Percentage Offer Shares and Excess Shares collectively referred to as "VDL Total Tendered Shares").

The cash consideration of S$0.50 per share under the Partial Offer amounts to a total consideration of S$2,391,382 for the 4,782,764 VDL Total Tendered Shares. The transfer of the VDL Total Tendered Shares to the Offeror was completed on April 30, 2019. VDL has consequently ceased to be a substantial shareholder of Thakral, with VDL's direct interest in Thakral reducing from 7.74% before the transaction to 4.08% after the transaction.

SINGAPORE, May 6, 2019 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company") announced today that 600 buses manufactured by Anhui Ankai Automobile Co., Ltd. ("Ankai") and propelled by Yuchai engines, were delivered to Saudi Arabia, creating the largest single export order for Chinese buses so far in 2019.

Saudi Arabia's largest passenger group, Hafil Transportation Company ("Hafil"), took delivery of the 12-meter buses, all equipped with Yuchai YC6L engines.

Hafil has approximately 12,000 buses, including nearly 8,000 buses powered by Yuchai engines. Hafil has a specific fleet of buses to support the nearly 3 million visitors for the important Hajj and Umrah religious pilgrimages. In addition, Hafil's other buses are for school transportation, contract transportation, and conventional short- and long-distance coach services.

Yuchai has established 186 overseas service stations to ensure effective and timely after-sales service. Additionally, there are two regional support centers which include service training and spare parts depots. As of March 2019, Yuchai engine overseas installation exceeded 430,000 units.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "Yuchai engines are highly preferred by Saudi customers as our engines have proven to be able to cope with the extreme heat and the local wind and sand weather conditions. This order further strengthens our leading position in this engine market."

Fourth Quarter 2018 Financial Results

• Net revenue increased by 19.7% to RMB 4.5 billion (US$ 660.4 million) compared with RMB 3.8 billion in the fourth quarter of 2017;
• Basic and diluted earnings per share were RMB 4.69 (US$ 0.68), compared with RMB 8.54 basic and RMB 8.52 diluted respectively, in the fourth quarter of 2017, which included a net gain of RMB 2.73 in basic and diluted earnings per share from one-time and extraordinary events.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "Our truck engine sales grew higher than the overall truck vehicle market in the fourth quarter of 2018 with growth in medium-duty truck engine sales. Our light-duty truck engine sales also increased as compared to the light-duty truck vehicle market. Sales to the agricultural equipment market was higher in the fourth quarter of 2018 as well."

"During 2018, we introduced 14 new engines for the on-road National VI emission standards, and 10 new engines for the upcoming new Tier 4 emission standard for off-road vehicles. These standards are significantly more stringent than the current standards and require advanced technology and new production techniques."

"We continue to see uncertainty in the China economy this year in view of the US and China trade dispute and world economic development."

SINGAPORE, Feb. 1, 2019 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that GYMCL has increased its equity ownership in its subsidiary YC Europe Co., Limited ("YC Europe") to 75.0% from 67.5%.

GYMCL has purchased the 225,000 ordinary shares of YC Europe owned by Heinz Norbert Schuchert ("HNS"), representing a 7.5% equity ownership, for a total consideration of 225,000 Euros comprising:

15,000 Euros paid by GYMCL to HNS; and
210,000 Euros paid by GYMCL to YC Europe being payment of HNS' outstanding contribution to the registered capital of YC Europe.
The said consideration is funded by GYMCL's internal funding. YC Europe was incorporated in April 2015 to market off-road engines (excluding marine engines) in Europe.

SINGAPORE, Dec. 14, 2018 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that, further to the press release on August 28, 2018, regarding the signing of a joint venture contract by a subsidiary of Guangxi Yuchai Machinery Company Limited  - Guangxi Yuchai Exhaust Technology Co., Ltd. ("YETC") and Eberspaecher Exhaust Technology International GmbH ("Eberspaecher"), the joint venture company, Eberspaecher Yuchai Exhaust Technology Co. Ltd. ("Eberspaecher Yuchai"), is now formally incorporated.

Eberspaecher and YETC will respectively hold 51 percent and 49 percent shareholding interest of Eberspaecher Yuchai. The registered capital of Eberspaecher Yuchai is RMB 120 million, with YETC's share being contributed by internal funding.

Eberspaecher Yuchai will develop, produce and market new exhaust emission control systems for trucks, buses, farming equipment and industrial machinery. Headquartered in Esslingen am Neckar, Germany, Eberspaecher is the world's leading exhaust technology provider with approximately 10,000 employees at 80 locations worldwide. As the most stringent emission standards for China are to be implemented in 2020, Eberspaecher Yuchai is strategically positioned for the trend of vehicle upgrades in both off-road and on-road markets as well as contribute to the future environmental balance in China.

Weng Ming Hoh, President of China Yuchai, commented, "The Chinese government is determined to better the environment and reduce emissions in China. We take pride in our commitment to providing the best-in-class products to meet the fast-growing market demand for more stringent emission control systems."

Third Quarter 2018 Financial Results

• Net revenue was RMB 3.2 billion (US$ 463.6 million) compared with RMB 3.8 billion in the third quarter of 2017;
• Earnings per share were RMB 3.15 (US$ 0.46) compared with RMB 3.87 in the third quarter of 2017.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "Our engine sales in the third quarter of 2018 reflected the industry trends, with slower sales in trucks and buses. Our growing presence in off-road markets has partially mitigated the industry's commercial vehicle slowdown, with higher sales in the agriculture and power generation segments."

"We took another major step with our new JV, Eberspaecher Yuchai Exhaust Technology Co. Ltd., which will add new emissions technology to our manufacturing to produce advanced emission systems for the next-generation National VI standards," Mr. Hoh concluded.

SINGAPORE, Oct. 31, 2018 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that it has launched 10 new off-road engines compliant with the Tier 4 emission standards at the recent Yuchai Off-road Power Strategy Conference in Wuhan, Hubei Province. This launch signifies that Yuchai has completed its strategic deployment of its National VI engines for the on-road and Tier-4 compliant engines for off-road markets. Yuchai's product roll-out is on track with the Chinese government's Action Plan for its Blue Sky Protection Initiative.

The Chairman of the China Internal Combustion Engine Industry Association, the General Secretary of the China Construction Machinery Association, Deputy Secretary of the China Association of Agricultural Machinery Manufacturers, senior officials of the Ministry of Agriculture and Rural Affairs, as well as 118 leading construction and agricultural equipment OEM producers and agricultural equipment manufacturers such as Guangxi Liugong, Shangdong Lingong, Zoomlion and Lovol Heavy Industry were in attendance. 194 distributors also attended this event.  Senior executives from Yuchai and representatives from Lovol Heavy Industry and Bosch Fuel System made key note speeches during the press conference.

The 10 off-road engines Yuchai unveiled at the press conference not only met the forthcoming national standard Tier 4 for the off-road segment, but they also feature the best-in-class powertrain systems and fuel efficiency with fully upgraded NVH features. These engines are designed to meet the versatile demands of customers in the agricultural machinery and industrial equipment markets.

Co-developed with German, Austrian and British engine design houses FEV, AVL and Ricardo, respectively, Yuchai's new off-road engine portfolio include the A, F, K series: the YCA05-T40, YCA07-T40 and YCA08-T40 models are medium- to heavy-duty engines; the YCF36-T48 and YCF36-T40 models are light-duty engines; the YCK09-T40, YCK11-T40, YCK13-T40, YCK15-T40 and YCTD20-T40 models are heavy-duty engines. Ranging from 40-950 horsepower, these engines are designed for various applications for construction machinery such as loaders, excavators, forklifts, air compressor, drillers and agricultural machinery such as tractors, wheat and rice harvesters and more.

For loaders and excavators under 30 tons, forklifts below 5 tons, and tractors in the range of 40 to 70 horsepower, Yuchai also introduced the YCR24, YCF27 and YCF30 model light-duty engines. For the bigger models and mining equipment, the heavy-duty products YCK09, YCK11, YCK13, YCK15 and YCTD20 were introduced.

These Yuchai Tier-4 products not only meet the more stringent emission standard, but also promise upgraded performances, increased warranty and enhanced durability, with extended service interval. Horsepower and torque have been increased from their Tier-3 predecessors, with industry-leading low noise levels and high-combustion low- friction technologies to reduce fuel consumption by approximately 3-5%. New material and advance noise reduction technology will improve the NVH and suitability of the engine. In addition, smart software systems will enable problem alerts and remote diagnostics, and after-treatment integration.

Weng Ming Hoh, President of China Yuchai, commented," Our new advanced off-road engines are applicable to all types of agricultural equipment and engineering machinery to meet the diverse needs of different customers. We are practicing the "green development and harmonious win" business philosophy implemented by the Central Committee of the State Council to achieve China's Blue Sky initiatives.

"This new series of 10 off-road engines complement our 14 new on-road engines that are compliant with the upcoming National VI standards. With these two new series of engines, we present the first comprehensive portfolio of advanced engines that meet the next-generation on-road and off-road emission standards in China," Mr. Hoh concluded.

SINGAPORE, Oct. 15, 2018 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that, on October 1, its K08 model engine became the first diesel engine model to pass the National VI-b certification in China.

Considered the most stringent and advanced emission certification test in China, the entire certification process for Yuchai's K08 model by National Motor Vehicle Quality Supervision and Inspection Center (Tianjin) was conducted at Vehicle Emission Control Center ("VECC") under full video surveillance.  The inspection covered engine and after-treatment system preparation, engine test stand connection, engine emission certification test, On-board Diagnostic (OBD) test, NOx control certification test, to Portable Emission Measurement System (PEMS) certification. Yuchai's K08 model significantly outperformed the standard with its NOx emission 40% better than the National VI standard, CO and HC emission approaching zero, Particulate Matter (PM) emission 80% better and maximum Particulate Number (PN) 77% better than respective National VI standards.

Weng Ming Hoh, President of China Yuchai, commented, "First and foremost, we are thrilled with this achievement as our product's environmental protection milestone coincides with China's 'Blue Sky' strategy. We have already developed 14 National VI compliant diesel engines and natural gas engines models ranging from 100 to 650 horsepower. With this new certification, we have again taken the lead in emission controls in the Chinese automotive markets."

ESSLINGEN, Germany and SINGAPORE, Aug. 28, 2018 /PRNewswire/ -- Eberspaecher Exhaust Technology International GmbH ("Eberspaecher") and China Yuchai International Limited (CYD) ("China Yuchai"), announced today the signing of a contract to form a joint venture company - Eberspaecher Yuchai Exhaust Technology Co. Ltd. ("JV Company"). The JV Company will produce and sell exhaust emission control systems for Chinese commercial vehicles to meet the highest domestic emission standard, China National 6.

Eberspaecher will hold 51 percent shareholding interest of the JV Company, with a Guangxi Yuchai Machinery Co. Ltd. ("GYMCL") subsidiary - Guangxi Yuchai Exhaust Technology Co. Ltd - holding the remaining 49 percent. A new production facility dedicated to producing the joint venture's exhaust systems will be built at GYMCL's current engine production facilities in Yulin City, China. The establishment and operation of the JV Company is subject to certain approvals to be granted by the relevant government authorities in China.

The aim of the partnership is to develop, produce and market new exhaust emission control systems for commercial vehicles. The China National 6 emission standard will be the most stringent emission standard in China and is expected to be first implemented by July 2020.

Eberspaecher is an exhaust technology pioneer which is intensifying its activities in the growing Asian markets. These on-road systems for trucks and buses, as well as off-road applications such as tractors or construction machines, will improve the future environmental balance in China.

"As the market leader for commercial vehicle emission control technologies in Europe and North America, it is clear to us that we can bring this expertise to Asia," emphasized Dr. Thomas Waldhier, COO of Eberspaecher Exhaust Technology. "With China Yuchai as our strong partner, the foundation is being laid to achieve a leading position in Asia as well."

Mr. Weng Ming Hoh, President of China Yuchai, commented, "Eberspaecher is a world leader in exhaust technology with an exceptional track record over its 153-year history. As an engine technology leader in China for on-road and off-road commercial vehicles, we are excited to join forces with Eberspaecher to capture the secular growth opportunities in emission controls in China." 

Rising concerns for the environment creates demand for more effective emission reduction systems for trucks and buses in China. "As a pioneer in exhaust technology, we contribute to the environmentally friendly mobility of tomorrow with our innovations and technologies. Together with GYMCL, one of the major diesel engine OEMs in China, we will significantly contribute to the successful implementation of the China National 6 emission standard," adds Dr. York Zhao, Vice President Business Unit Asia at Eberspaecher.

New plant in Yulin

To directly supply Asian commercial vehicle manufacturers, the JV Company will build a production plant in Yulin City, in the province of Guangxi. Over an area of up to 12,000 square meters, the first exhaust control systems will be produced at the end of 2019. In the first full year of production, 160,000 systems are planned. In the long term, the JV Company is expected to create up to 250 local jobs.

Commercial vehicle manufacturers which use Yuchai engines, will benefit from the new joint venture in terms of sales and after-sales activities, as they will receive engine and exhaust technology from a single source. This cooperation also makes use of Eberspaecher's expanded development activities at its Asian headquarters in Shanghai. The local Tech Center, which bundles the entire exhaust technology testing expertise and prototyping activities for Asian customers, is nearing completion.

Background of emission control

The new exhaust emission control systems are so-called combination systems under China National 6 - the strictest emission standard for particulates, nitrogen oxide and hydrocarbons. This emission standard corresponds to Euro 6 in Europe and EPA 10 in the USA. China National 6 will result in a further reduction of 80% for nitrogen oxides and 66% for particle mass compared to the China National 5 standard. The Eberspaecher commercial vehicle combination systems consist of two main components: a Diesel particulate filter system - consisting of an oxidation catalyst (DOC) and Diesel particulate filter (DPF) - and a nitrogen oxide reduction system, which includes urea dosing and SCR catalysts. In addition to the emission function, these technologies also comply with the relevant acoustic regulations.

Second Quarter 2018 Financial Results

• Net revenue was RMB 4.2 billion (US$ 635.5 million) compared with RMB 4.1 billion in the second quarter of 2017;
• Basic and diluted earnings per share were RMB 3.23 (US$ 0.49) compared with RMB 3.29 for the same quarter last year.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "In the second quarter of 2018, our engine sales continued to grow buoyed by faster growth in the off-road markets. We are well positioned in the off-road segment in China. While we continue to build our financial strength, we have recently paid a Dividend of US$0.73 per ordinary share and a Special Dividend of US$1.48 per ordinary share for the year ended December 31, 2017."

SINGAPORE, July 27, 2018 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), announced today the establishment of a new subsidiary, Guangxi Yuchai Exhaust Technology Co., Ltd ("YETC"), to design, produce and sell exhaust emission control systems for Chinese commercial vehicles to meet the highest domestic emission standard, China National VI.

YETC is a wholly owned subsidiary of Guangxi Yuchai Accessories Manufacturing Company Limited ("YAMC"), which is a wholly owned subsidiary of Guangxi Yuchai Machinery Co. Ltd. ("GYMCL"), the Company's main operating subsidiary. The registered capital of YETC is RMB 62 million, contributed by internal funding.

First Quarter 2018 Financial Results

• Net revenue was RMB 4.3 billion (US$ 689.7 million) compared with RMB 4.6 billion in the first quarter of 2017;
• Basic and Diluted earnings per share were RMB 5.94 (US$ 0.95) and RMB 5.93 (US$ 0.94) respectively compared with RMB 6.10 in the first quarter of 2017.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "With our broad portfolio of engines for on- and off-road market sales, our strategy of supplying engines to multiple markets is providing growth in some areas even as other markets are stagnant. We continue to focus on improving our operational efficiency and maintain our strong financial condition."

 Fourth Quarter 2017 Financial Results

• Net revenue increased by 1.2% to RMB 3.8 billion (US$ 578.6 million) compared with RMB 3.7 billion in the fourth quarter of 2016.
• Basic and diluted earnings per share were RMB 9.99 (US$ 1.53) and RMB 9.97 (US$ 1.53), including a net gain of RMB 4.40 (US$ 0.68) and RMB 4.39 (US$ 0.68) from one-time and extraordinary events respectively, compared with RMB 5.55 in the fourth quarter of 2016.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "2017 was a year of growth with robust unit sale increases in on-road heavy-duty and light-duty, and in industrial and agricultural engines.  In addition, we increased our overall average selling price in 2017.  Our engine export sales continued to improve in 2017.  We are in a better position with our broad portfolio of advanced diesel, natural gas and hybrid engines, and our extensive service network, to serve the needs of the on-road and off-road markets in China."

"We continue to generate positive cash flow from operations to strengthen our financial position.  We remain focused on improving our operational efficiency even as we introduce new engines with advanced emissions technology well before the scheduled implementation date to enhance our market leadership position," Mr. Hoh concluded.

SINGAPORE, Jan. 23, 2018 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that it exported a record number of engines to the global market in 2017.

In 2017, GYMCL exported 12,173 units to the global bus market, breaking the 10,000-unit mark for the first time and establishing a record high. Among the units sold, sales of engine models YC6L and YC6MK exceeded 3,000 units, an increase of 64% over the previous year. Natural gas engine export sales grew to more than 2,500 units, an increase of 300% over last year. In addition, over 1,200 engine units were exported for use in the passenger vehicle market, representing a year-on-year increase of 17%.

In supporting the Chinese government's 'One Belt One Road' initiative, the growth of bus sales in international markets has become a priority.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We are pleased with the export growth achieved in 2017 as the global markets provide another growth avenue for our diversified portfolio of commercial vehicle engines. We have especially leveraged our leading bus engines in China and our global service network to meet the needs of bus companies in foreign markets. We look forward to our exports continuing to grow in the future."

SINGAPORE, Dec. 1, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company") announced today that HL Global Enterprises Limited ("HLGE") (a company in which China Yuchai has a 48.9% equity interest) has completed the sale of all its shares in LKN Investment International Pte. Ltd. ("LKNII"), which holds hotel properties in China, to an affiliate of Jingrui Holdings Limited ("LKNII Disposal").

As announced by the Company on October 31, 2017, LKNII has completed the sale of its 60% equity interest in Copthorne Hotel Qingdao Co., Ltd. ("CHQ Disposal"). Under the terms of the sale and purchase agreement relating to the LKNII Disposal, the aggregate sum that HLGE is entitled to receive pursuant to the LKNII Disposal on the basis that the CHQ Disposal has been undertaken by LKNII would be approximately RMB604.88 million (before deducting tax and relevant expenses, and subject to certain adjustments, if any). The RMB604.88 million includes the proceeds from the CHQ Disposal which have been distributed by LKNII to HLGE by way of a combination of dividends and the redemption of preference shares held by HLGE in LKNII.

On a preliminary basis, the Company expects to record a profit after tax of RMB320.0 million and a profit attributable to equity holders of the parent of RMB160.0 million as a result of the LKNII Disposal and the CHQ Disposal.

SINGAPORE, Nov. 28, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that GYMCL has acquired all the issued shares in Jining Yuchai Engine Company Limited ("Jining Yuchai") for a cash consideration of RMB250,000 ("Acquisition") from the existing holder of the shares ("Vendor"). 

As disclosed in the Company's Forms 20-F, GYMCL had management control over Jining Yuchai pursuant to a management agreement dated October 13, 2014 between GYMCL and the Vendor. As such, the Company consolidated Jining Yuchai in its past consolidated financial statements. The Acquisition was made pursuant to an irrevocable option to acquire the shares in Jining Yuchai granted to GYMCL and will align the equity control of Jining Yuchai with the management control that GYMCL already exercises over it. 

Third Quarter 2017 Financial Results

• Net revenue was RMB 3.8 billion (US$ 570.9 million) compared with RMB 2.9 billion in the third quarter of 2016;
• Earnings per share were RMB 4.06 (US$ 0.61) compared with RMB 1.89 in the third quarter of 2016, an increase of 114.8%.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We are excited to report strong third quarter results. Our higher sales were mainly due to increased truck sales and greater penetration of the off-road market with gains in the power generation, industrial and agriculture engine sectors. We are focusing on developing more reliable and higher performance engines while we continue to expand our National VI engine portfolio as these technologically advanced products have enhanced our profitability."

"Notwithstanding China's policies to promote electric vehicles, diesel engines remain an integral part of the growth in transportation and off-road applications. In addition to our diesel engines, we witnessed increased sales of our natural gas engines in China. We will continue to focus on cash generation to further strengthen our balance sheet and to provide the resources for future growth," Mr. Hoh concluded.

SINGAPORE, Nov. 9, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD), a leading manufacturer and distributor of engines for on-and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited, announced today that its subsidiary, Guangxi Yulin Yuchai Accessories Manufacturing Company Limited ("YAMC"), had disposed its remaining 30% equity interest in Guangxi Yulin Yuchai Property Management Co., Ltd. ("GY Property") to its joint venture partner, Guangxi Yuchai Machinery Group Company Limited ("GYM Group"), for a cash consideration of RMB1,930,792.11 (the "Disposal"). Following the Disposal, GY Property has ceased to be an associated company of YAMC.

The consideration for the Disposal was arrived at on a "willing-buyer willing-seller" basis, taking into consideration, among other things, the market value of a 100% equity interest in GY Property as at September 30, 2016 of RMB6,435,973.69 based on an independent valuation performed by Guangxi Qiyuan Assets Appraisal Limited (using the asset based method of valuation) and commissioned by GYM Group and YAMC.

SINGAPORE, Oct. 31, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on-and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that 200 buses manufactured by Inner Mongolia Qingshan Automobile Co., Ltd. and all powered by GYMCL's YC6J210N-52 hybrid gas engines were recently delivered to Baotou Bus in the city of Baotou in Inner Mongolia.  

The 200 buses are being used in the public transportation system of Baotou. The YC6J210N-52 hybrid gas engine is a turbocharged 6-cylinder engine with a displacement of 6.5 litres and is compliant with China's National V emission standards.

Baotou Bus has a total of about 1,200 buses, of which over 1,000 buses are powered by GYMCL's engines.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We won this order due to the excellence of our engines backed by our high-quality extensive service network. Our hybrid engines remain the leader in this engine sector with a proven track record of providing high reliability and performance with significantly improved fuel consumption and emissions."

SINGAPORE, Sept. 6, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on-and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited, announced the following today:

748 buses powered by Yuchai engines are being utilized to transport athletes competing in the 13th National Games of the People's Republic of China which are presently being held in the city of Tianjin.
100 new energy buses equipped with Yuchai's YC6J diesel-electric hybrid system have been delivered to Wuzhou Zhenbao Bus Co., Ltd.
Mr. Weng Ming Hoh, President of China Yuchai, commented, "The National Games are a prestigious sporting event in China with many elite athletes competing on a national stage and with a wide following among sports fans. We are pleased that buses powered by Yuchai engines are being utilized at the National Games. We are also delighted with the success of our hybrid systems, which demonstrates their high quality and performance as well as our commitment to developing environmentally friendly solutions."

SINGAPORE, Aug. 29, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company") announced today that LKN Investment International Pte. Ltd. ("LKNII"), a wholly-owned subsidiary of HL Global Enterprises Limited1 ("HLGE") (a company in which China Yuchai has a 48.9% equity interest), entered into a conditional equity transaction agreement together with a supplemental agreement with Qingdao Haiyi Jun Zhuo Culture Travel Property Investment Co Ltd ("Haiyi") to sell its 60% equity interest in Copthorne Hotel Qingdao Co., Ltd. ("CHQ") to Haiyi ("Proposed Sale").

The consideration for the Proposed Sale is RMB214.35 million. Haiyi has also agreed, among other things, to pay a sum of RMB15.65 million, together with interest, to LKNII as full settlement of a shareholder's loan of a principal amount of RMB21.9 million granted by LKNII to CHQ. Completion of the Proposed Sale is expected to take place before October 2017. The financial effects of the Proposed Sale on the Company have not been finalized and will be announced once it is available.

SINGAPORE, Aug. 23, 2017 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on-and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that its subsidiary, Guangxi Yuchai Accessories Manufacturing Company Limited ("GYAMC"), has acquired the remaining 25% equity interest in Guangxi Yuchai Crankshaft Co., Ltd. ("GY Crankshaft") from its joint venture partner, Guangxi Yuchai Machinery Group Company Limited ("GYM Group") ("Acquisition").  As a result of the Acquisition, GY Crankshaft is now a wholly owned subsidiary of GYAMC.

The total consideration was RMB1,335,000 which was satisfied in cash and funded through internal sources.

The consideration for the Acquisition was determined on a "willing-buyer willing-seller" basis based on the final network bid price under a public tender organized by Beibu Gulf Equity Exchange Group. This consideration represents a premium of approximately 0.88% over the market value of the 25% equity stake as of September 30, 2016. An independent valuation report dated February 23, 2017, and prepared by the China United Assets Appraisal Group Guangxi Limited Company and commissioned by GYM Group valued the 25% equity stake in GY Crankshaft with a market value of approximately RMB1,323,300 (using the asset-based approach as the valuation method) as at September 30, 2016.

SINGAPORE, Aug. 21, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on-and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that 598 school buses manufactured by Changan Bus Manufacturing Co., Ltd. and all powered by GYMCL's YC6J190-20 engines were recently delivered to the Kuwait Public Transport Company. 

The YC6J190-20 engine is a turbocharged 6-cylinder, 6.49-litre diesel engine for both on road and off road applications. It is noted for its fuel efficiency, low noise levels, and reliability. It is suitable for coaches between 8 to 11 metres in length.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We continue to build our international sales and to penetrate the Middle Eastern bus market with sales to both the Saudi Arabian and Kuwaiti bus transportation networks. Our broad line of advanced engines continues to be preferred to propel buses in these markets due to their excellent performance, reliability and our service in these areas noted for their harsh hot temperatures."

SINGAPORE, July 27, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on-and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that, earlier this month, 76 diesel-electric hybrid buses all powered by GYMCL's YC6A270-50 engines were delivered to Siweimei Motor Transport Co., Ltd. ("Siweimei") in Shenzhen. This is the second large order from Siweimei since its purchase of 110 units at the end of 2016.

The diesel-electric hybrid system used in the buses consists of GYMCL's YC6A270-50 engine, a 7.26-litre diesel engine compliant with China's National V Emission Standards, and a plug-in charging battery.

Siweimei provides private group transport including for tourism operations and was designated as the preferred transporter for the XIX International Botanical Congress presently being held in Shenzhen City. The 76 buses powered by GYMCL's YC6A270-50 engines are being utilized for the conference.

Shenzhen City was the Chinese government's first Special Economic Zone. The city's population has swelled to more than 11 million people.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "Our continued winning streak demonstrates our products' reputation, reliability, and performance to improve fuel efficiency and lower emissions. With the Chinese government's ongoing emphasis on lowering pollution, especially in large cities, the hybrid systems provide an attractive alternative to standard engines."

SINGAPORE, July 10, 2017 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that it has won an order for 100 hybrid engines from Liuzhou Hengda Bus Co., Ltd. ("Liuzhou Bus") who operates Liuzhou's public transportation system.

The order comprises 85 new buses from Xiamen Kinglong and 15 buses from Zhongtong Bus all powered by GYMCL's YC6J200-50 diesel-electric hybrid engines. GYMCL is the exclusive engine supplier for this order. The YC6J200-50 is a compact, lightweight, 4-stroke, 6-cylinder hybrid engine rated at 147 Kw at 2500 rpms. It is designed to reduce both fuel consumption and emissions.

Liuzhou is a city located in the north-central Guangxi Zhuang Autonomous Region with a population of over 3.8 million.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We have become the preferred supplier of engines to Liuzhou Bus and the dominant supplier of hybrid engines in the Chinese market. We continue to introduce environmentally-friendly and advanced hybrid engines to meet the government's increasingly stringent emission standards."    

SINGAPORE, June 22, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company") announced today that engines produced by its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") have won new orders for the supply of bus engines to Myanmar and Saudi Arabia. 

GYMCL received an initial order for 2,000 of its YC6G260N heavy-duty natural gas engines to power buses to be used in Rangoon's upgraded public transportation system. A further 1000 engines are expected to be ordered during the second phase of the upgrade. The YC6G260N engine has a displacement of 7.8 liters and is compliant with Euro V emission standards. GYMCL is the exclusive engine provider due to its reputation for excellent product quality and outstanding services.

Rangoon is an economic hub as well as Myanmar's largest city with a population of nearly 4.4 million. This order coincides with the Chinese government's "One Belt One Road" initiative to increase economic cooperation between China and European and Asian countries.

GYMCL also won an order for the supply of 600 YC6MK engines to equip the Ankai A9 high-end buses for the Saudi Arabian market. The YC6MK heavy-duty engine has a displacement of 10.3 liters and is designed to propel larger buses. It is compliant with Euro IV and Euro V emission standards. GYMCL has an approximate 66% of the market share of the Saudi Arabian bus engine market.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We continue to see increased penetration of the overseas markets due to our extensive engine portfolio meeting the needs of a wide variety of customers."

SINGAPORE, May 31, 2017 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that HL Global Enterprises Limited ("HLGE") an entity listed on the Main Board of the Singapore Exchange Securities Trading Limited and in which China Yuchai has a 48.9% shareholding interest in, has entered into a conditional sale and purchase agreement ("SPA") for the disposal of HLGE's entire shareholding interest in a subsidiary holding its hotel properties in China ("Proposed Disposal"). The purchaser is an affiliate of Jingrui Holdings Limited, an entity listed on the Stock Exchange of Hong Kong and engaged in the core business of residential property development in the People's Republic of China.

The consideration for the Proposed Disposal is RMB 550 million payable in tranches and subject to adjustment in certain specified circumstances as set forth in the SPA. The completion of the Proposed Disposal is conditional upon the satisfaction of certain conditions precedent on or before October 31, 2017. 

HLGE intends to utilize a portion of the proceeds from the Proposed Disposal to repay the current outstanding loan of S$68 million extended to it by China Yuchai.

The financial effects of the Proposed Disposal on the Company have not been finalized and will be announced once it is available.

SINGAPORE, May 24, 2017 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that a dividend of US$0.90 per share of common stock for the financial year 2016 has been declared by its Board of Directors. The dividend payment will be made either wholly in cash or in new shares of CYI's common stock ("Shares") at the option of the stockholder.

Stockholders will make an election to receive the dividend either wholly in cash or in Shares. The number of Shares to be issued per share of common stock as a result of the dividend payment will be determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from July 5 to and including July 7, 2017. The dividend is payable on July 13, 2017 to shareholders of record at the close of business on June 7, 2017 with an ex-dividend date of June 5, 2017.

Shareholders who do not make an election will receive the dividend entirely in cash. CYI will pay fractional shares in cash which will be determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from July 5 to and including July 7, 2017. The Company reserves the right to pay the dividend entirely in cash.

SINGAPORE, April 6, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company") announced today that engines produced by its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") and installed in 200 Yutong buses were put into use in Lahore's Bus Rapid Transit (BRT) system in Pakistan. Lahore is Pakistan's second largest city and a key municipal bus market.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "Since 2012, we have won a number of orders for the supply of our bus engines to power the public transportation systems of Islamabad and Lahore. Our dominant position in the municipal bus markets of these two key cities is the result of our engines being recognized for its reliable performance and our strong after-sales service support. A further 100 bus engines will also be supplied to the city of Multan further extending GYMCL's coverage in Pakistan."

SINGAPORE, March 29, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company") announced today that further to their joint-release on February 19, 2016 on the entry into of a joint-venture agreement by its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), with MTU Friedrichshafen GmbH ("MTU"), a subsidiary of Rolls-Royce Power Systems, the joint-venture entity has been established. The name of the 50/50 joint-venture entity is MTU Yuchai Power Co. Ltd. ("MTU Yuchai Power") who will produce, under license from MTU, the latter's diesel engines in China.

Mr. Yan Ping, Chairman of GYMCL, and Mr. Andreas Schell, President of Rolls-Royce Power Systems, a member of the Rolls-Royce Group, were in Yulin City in Guangxi Province, to unveil the company logo and celebrate the establishment of the joint-venture. For both companies, it is a milestone development that will enable them to anchor their position in new markets and improve their competitiveness in the global economy.

The joint-venture based at GYMCL's primary manufacturing facilities in Yulin, will produce MTU's highly successful Series 4000 engines compliant with China's Tier 3 emission standards, primarily for the oil and gas and power generation industries. The General Manager of the joint-venture will be Mr. Sebastien Jin, who previously headed Business Development in China at MTU. 

Mr. Andreas Schell commented, "GYMCL with its strong technological background, sales network, and production potential is seen by Rolls-Royce Power Systems as the ideal partner for its MTU brand. We believe that MTU Yuchai Power is embarking on a long-lasting partnership of great potential. By joining forces, both partners have everything it takes to be successful in the Chinese market."

Mr. Weng Ming Hoh, President of China Yuchai, commented, "Our leading market position, broad customer base, superior technologies and renowned brand name in China combined with the capabilities of the advanced MTU series 4000 engines create significant synergies which will reap benefits for all parties. We look forward to deepening our relationship with MTU in the future."

SINGAPORE, March 29, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company") announced today that further to their joint-release on February 19, 2016 on the entry into of a joint-venture agreement by its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), with MTU Friedrichshafen GmbH ("MTU"), a subsidiary of Rolls-Royce Power Systems, the joint-venture entity has been established. The name of the 50/50 joint-venture entity is MTU Yuchai Power Co. Ltd. ("MTU Yuchai Power") who will produce, under license from MTU, the latter's diesel engines in China.

Mr. Yan Ping, Chairman of GYMCL, and Mr. Andreas Schell, President of Rolls-Royce Power Systems, a member of the Rolls-Royce Group, were in Yulin City in Guangxi Province, to unveil the company logo and celebrate the establishment of the joint-venture. For both companies, it is a milestone development that will enable them to anchor their position in new markets and improve their competitiveness in the global economy.

The joint-venture based at GYMCL's primary manufacturing facilities in Yulin, will produce MTU's highly successful Series 4000 engines compliant with China's Tier 3 emission standards, primarily for the oil and gas and power generation industries. The General Manager of the joint-venture will be Mr. Sebastien Jin, who previously headed Business Development in China at MTU. 

Mr. Andreas Schell commented, "GYMCL with its strong technological background, sales network, and production potential is seen by Rolls-Royce Power Systems as the ideal partner for its MTU brand. We believe that MTU Yuchai Power is embarking on a long-lasting partnership of great potential. By joining forces, both partners have everything it takes to be successful in the Chinese market."

Mr. Weng Ming Hoh, President of China Yuchai, commented, "Our leading market position, broad customer base, superior technologies and renowned brand name in China combined with the capabilities of the advanced MTU series 4000 engines create significant synergies which will reap benefits for all parties. We look forward to deepening our relationship with MTU in the future."

SINGAPORE, Feb. 24, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced that 321 units of Xiamen Kinglong buses have been purchased by the Saudi Arabia Public Transport Company (SAPTCO) for use in Mecca. These municipal buses are all powered by GYMCL's YC6MK380 and YC6L280 heavy-duty engines. Prior to this order, in 2013 and 2015, a total of approximately 1,800 engines supplied by GYMCL were assembled in Xiamen Kinglong's buses which were exported to Saudi Arabia.

GYMCL's engines are used in over 90% of buses in Saudi Arabia. Mecca, as the world's holiest site in Islam, receives millions of people on pilgrimage every year creating a daunting challenge for the city's transportation system. Safe and reliable mass transit is hence a high priority for the city authorities.

The model YC6MK380 is a turbocharged, 6-cylinder diesel engine with a 10.34-liter displacement. The model YC6L280 is a compact, light-weight turbocharged, 6-cylinder diesel engine with an 8.42-liter displacement.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "International markets are an important growth area for us and GYMCL was one of the earliest Chinese engine manufacturers to address the needs of the Saudi Arabia bus market. Our engines' reliability, pricing and proven operating performance combined with our extensive service network in the Middle East, has made us the preferred bus engine supplier in the region."  

Fourth Quarter 2016 Financial Results

• Net revenue increased by 27.7% to RMB 3.7 billion (US$ 538.5 million) compared with RMB 2.9 billion in the fourth quarter of 2015.
• Earnings per share were RMB 5.55 (US$ 0.80) compared with RMB 1.50 in the fourth quarter of 2015.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "2016 started out challenging for the engine business in China, but concluded the year with strong growth in several engine sectors. We increased engine sales in both the on-road and off-road markets in the fourth quarter of 2016. In addition to the increase in unit sales in the fourth quarter of 2016, we increased sales of higher margin products resulting in an enhanced average selling price and improved profitability."

"We continued to generate cash-flow and improved return on invested capital. Together with our healthy financial position and improved operational efficiency, we believe that we will continue to create shareholder value." Mr. Hoh concluded.

SINGAPORE, Feb. 17, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today the entry into of a strategic partnership agreement ("Strategic Agreement") with Zoomlion Heavy Industry Science & Technology Co., Ltd ("Zoomlion"), a leading manufacturer of high-tech equipment for the engineering and agricultural industries.

In addition to Zoomlion, the Wuhu government and Y&C Engine Co., Ltd, a joint venture entity of GYMCL based in Wuhu, Anhui Province, are also signatories to the Strategic Agreement. As the leader in powertrain systems for on- and off-road applications, GYMCL together with Y&C Engine will develop and produce six-cylinder medium- and heavy-duty engines for Zoomlion's agricultural equipment. The production line is divided into three phases for a gradual build up of its capacity.   

Mr. Weng Ming Hoh, President of China Yuchai, commented, "Our partnership will provide another growth avenue to gain further market share and solidify our leadership in the agricultural machinery business. We are developing and producing engines designed specifically for use in Zoomlion's agricultural equipment to provide users with higher power and improved performance to enhance their capabilities."  

SINGAPORE, Feb. 8, 2017 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), announced today that its wholly owned subsidiary, Venture Lewis Limited ("VLL"), has entered into a loan agreement with HL Global Enterprises Limited ("HLGE") ("2017 Loan Agreement") for the extension of a loan of S$68,000,000 ("Loan") to HLGE. The original amount of the Loan was S$93,000,000 which was granted to HLGE in February 2009 to refinance the zero coupon, unsecured, non-convertible bonds issued by HLGE in 2006 and which matured on July 3, 2009. The principal amount has been reduced to S$68,000,000 pursuant to partial repayments totaling S$25,000,000 made by HLGE in 2011, 2012 and 2013 from disposal of assets. The Company through another wholly owned subsidiary, Grace Star Services Ltd., owns 48.9% of the issued ordinary shares of HLGE.

The unsecured Loan has, pursuant to the terms of the 2017 Loan Agreement, been extended for one year from July 2017 and is due for repayment in July 2018. Under the terms of the 2017 Loan Agreement, the interest payable is the aggregate of a margin of 0.4% per annum and the 12-month Singapore Interbank Offer Rate ("SIBOR") expressed in a percentage rate as calculated by Reuters as the official calculation agent of SIBOR for the Association of Banks in Singapore, for Singapore Dollars, as at 11.00 a.m. on February 7, 2017. In the event the interest rate charged on external funds utilized by China Yuchai for their investment in HLGE is increased, the Company has a right to negotiate with HLGE with a view to agreeing on an increase in the interest rate payable by HLGE under the 2017 Loan Agreement subject to compliance with certain regulatory requirements. A negative pledge undertaking against any disposal or creation of security over substantially all of HLGE's assets without VLL's consent is also included.

The Company's Board of Directors approved the Loan extension after taking into account the relevant circumstances including (i) the continued challenges facing HLGE's hospitality operations namely in Qingdao, Shandong Province, China as a result of the highly competitive market; (ii) the weak financial condition of HLGE and its difficulties in obtaining financing from financial institutions; (iii) the need to provide support to HLGE to ensure its ability to continue as a going concern; and (iv) the continued efforts made by HLGE to explore potential opportunities, including disposal of non-core assets, to improve its financial position. This transaction has also been reviewed and approved by the Company's audit committee who has determined that the terms of the Loan extension are fair and reasonable.

SINGAPORE, Dec. 22, 2016 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that it has delivered a total of 303 hybrid engines to Inner-Mongolia Tian'an Public Transportation Group and Lanzhou Mass Transit Company. All of these engines are compliant with National V emission standards.

The Lanzhou Mass Transit Company recently put 288 new environmentally-friendly buses into service, 280 of which are 12-meter coach buses powered by GYMCL's YC6J210N hybrid engines. This turbocharged engine displaces 7.8 liters for medium-size commercial vehicles. The remaining 8 buses run on GYMCL's YC6MKN heavy-duty natural gas engines with a 10.3 liter displacement, which are designed for larger coach buses. Lanzhou, the capital of Gansu Province and a major industrial city in Western China, has been plagued by increasing environmental pollution in recent years. Additionally, GYMCL delivered 15 natural gas-electric hybrid engines to the Inner-Mongolia Tian'an Public Transportation Group in Erdos City and Xilinhot City.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We continue to expand our geographic footprint in China and to extend our technological leadership in the new energy bus market. In September 2016, we also announced China's first gas-electric hybrid powertrain system for China's truck market. As the dominant supplier of hybrid engines in the Chinese bus market, we strive to introduce best-in-class natural gas-electric engines and diesel-electric hybrid engines to improve fuel efficiency and reduce emissions in many more urban markets across China."  

Third Quarter 2016 Financial Results

• Net revenue declined to RMB 2.9 billion (US$ 432.1 million) compared with RMB 3.0 billion in the third quarter of 2015.
• Earnings per share were RMB 1.89 (US$ 0.28) compared with RMB 0.01 in the third quarter of 2015

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We have improved our profitability by selling higher value products in this challenging market environment. Our off-road engine sales have been affected by the ongoing transition from Tier 2 to the more advanced Tier 3 emission standards. This transition should be completed by the end of 2016. We managed to increase sales in the truck and marine and power generation markets in the third quarter."

"With a focus on cash generation and balance sheet management, we reduced our long- and short- term borrowings by 68.9% since the end of 2015 while maintaining a strong cash position. As the near-term outlook remains uncertain, we continue to look for ways to better utilize our financial resources and seek new growth opportunities."

SINGAPORE, Sept. 2, 2016 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that it had, from January to July 2016, supplied over 700 engines to the bus market in Thailand.

The orders were from Shanghai Shenlong Bus Co., Ltd. ("Sunlong Bus") for export to Thailand. Further to this, another order was received from Sunlong Bus for the supply of a further 264 engines comprising GYMCL's YC6L330 and YC6G240 engines, to be installed in Sunlong Bus' 10-metre and 12-meter buses.

The YC6L330 engine is a turbocharged 6-cylinder diesel engine with an 8.4 liter displacement using FEV technology which target buses in the 11 to 13.7 meter buses. The model YC6G240 is a turbocharged 6-cylinder diesel engine with a displacement of 7.8 liters and FEV technology targeting 10-12 meter buses.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "Our excellence in emission control continues to set us apart from our peers. These orders confirm that our continuing leadership in the bus segment has been recognized by both the Chinese domestic and international markets. We continue to develop engines that meet the growing needs from our OEM bus customers."

SINGAPORE, Aug. 29, 2016 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that it has successfully introduced China's first gas-electric hybrid powertrain system.

At the recent Xinjiang International New Energy Vehicle and Electric Car Exhibition in Urumqi, Dongfeng Motor Corporation and GYMCL jointly debuted China's first gas-electric hybrid truck. The new parallel hybrid system and gas engine powertrain, attracted great attention as the gas rich provinces in western China have been actively seeking more economic fuel solutions to address their growing transportation needs. With this newly developed plug-in truck application, GYMCL demonstrated its ability to go beyond its plug-in hybrid engine for the bus market where it currently dominates in China.

In addition, 40 hybrid 8.5 metres buses installed with GYMCL's light-duty YC4G engines were recently delivered to the Chongqing Pengshui public transportation company. Out of the 40 engines, 30 units were hybrid drive and the remaining units were gas-electric hybrid. Notwithstanding the development of new- energy buses, hybrid engines are still the preferred choice in Chongqing and GYMCL's engines, recognized for their high quality and performance, is the flagship product in Chongqing's hybrid bus market.  

Mr. Weng Ming Hoh, President of China Yuchai, commented, "With this new plug-in gas-electric hybrid propulsion system, we significantly enhanced our market position in the hybrid engine market. More encouragingly, we have successfully extended our technology solutions from our current application in the bus market to the much larger addressable truck market in China, the largest truck market in the world. As we develop additional models to meet the needs of different truck types, especially in the urban logistics and special vehicle areas, we see new areas for potential growth. This new hybrid system is another important milestone achieved through our research and development efforts."

SINGAPORE, May 31, 2016 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company") announced today the appointment of Dr. Thomas Khong Fock Phung as its new Chief Financial Officer ("CFO") with effect from June 1, 2016. Dr. Phung takes over from Mr. Kok Ho Leong who will be relinquishing his position in order to assume the CFO role at Hong Leong Asia Ltd ("HLA"), China Yuchai's parent company.

Dr. Phung has over 20 years' experience in both the manufacturing and service sectors. Prior to this appointment, Dr. Phung was the East Asia Pacific Finance Director for Alstom Transport (Singapore) Pte Ltd ("Alstom"). Prior to Alstom, Dr. Phung was with Bombardier Transportation group as Director Controlling Asia Pacific for four years and Commercial Manager/Site Controller of joint venture operations in China for three years. Preceding this, he was Finance Director & Deputy General Manager at Shandong Asia Pacific SSYMB Pulp & Paper Co. Ltd. where he was based in Shandong, China for three years. Dr. Phung has also worked at Thales GeoSolutions (Asia Pacific), Glaxo SmithKline Singapore Pte Ltd and Baker Oil Tools, a Baker Hughes company. Dr. Phung started his career as a credit authorizer at Bank of America in Singapore.

Dr. Phung has, in the course of his career gained extensive experience in financial reporting, tax planning, financial control analysis, cost and management accounting, budgeting and cash management. Dr. Phung received his PhD in Finance from Cass Business School, City University in London in 1998 and an MBA in Financial Management from Hull University Business School in Hull, UK in 1994. 

Singapore, May 12, 2016 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that a dividend of US$0.85 per share of common stock for the financial year 2015 has been declared by its Board of Directors. The dividend payment will be made either wholly in cash or in new shares of CYI's common stock ("Shares") at the option of the stockholder.

Stockholders will make an election to receive the dividend either wholly in cash or in Shares. The number of Shares to be issued per share of common stock as a result of the dividend payment will be determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from June 20 to and including June 22, 2016. The dividend is payable on June 29, 2016 to shareholders of record at the close of business on May 26, 2016 with an ex-dividend date of May 24, 2016.

Shareholders who do not make an election will receive the dividend entirely in cash. CYI will pay fractional shares in cash which will be determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from June 20 to and including June 22, 2016. The Company reserves the right to pay the dividend entirely in cash.

An election form will be mailed to shareholders of record after the record date. The properly completed election form to receive cash or Shares must be received by Computershare, ("Computershare"), the Company's transfer agent before 5.00 p.m. Eastern Standard Time on June 16, 2016. All completed election forms should be sent to Computershare at P.O. BOX 30170, College Station, TX 77842-3170. Overnight correspondence should be sent to Computershare at 211 Quality Circle, Suite 210, College Station, TX 77845.

First Quarter 2016 Financial Results

• Net revenue declined to RMB 3.4 billion (US$ 523.1 million) compared with RMB 3.7 billion in the first quarter of 2015;
• Earnings per share were RMB 2.27 (US$ 0.35) compared with RMB 2.76 in the first quarter of 2015;

Mr. Weng Ming Hoh, President of China Yuchai, commented, "Our first quarter results reflected the continued weak macroeconomic environment and the resultant impact of government policies. The transition in applicable emission standards in both the on- and off-road segments have affected our sales.  Notwithstanding, we improved our average selling price and adjusted our cost structure to maintain our profitability despite lower unit sales".

"We continue to focus on cost controls, expansion of our product offerings of advanced National V and VI engines even as we strengthen our cash position and financial strength. We introduced four new National V compliant engines and entered into a new joint venture with Rolls Royce to produce the acclaimed MTU Series 4000 diesel engines compliant with China Tier 3 emission standards primarily for China's off-highway market. We believe that these new developments will further expand on our current product portfolio," Mr. Hoh concluded.

Fourth Quarter 2015 Financial Results

• Net revenue declined to RMB 2.9 billion (US$ 450.7 million) compared with RMB 3.9 billion in the fourth quarter of 2014;
• Earnings per share were RMB 1.50 (US$ 0.23) compared with RMB 6.31 in the fourth quarter of 2014

Mr. Weng Ming Hoh, President of China Yuchai, commented, "2015 was a challenging year for the diesel engine industry in China due to the sluggish macroeconomic environment as well as emission standard transitions in both the on- and off-road segments. We managed to improve our average selling price and maintained our profitability despite the decline in unit sales in a weaker than usual market environment."

"While we wait for the economy to improve, we will continue to focus on costs control, expanding our product offerings, improving engine quality and strengthening our financial position," Mr. Hoh concluded.

FRIEDRICHSHAFEN, Germany and SINGAPORE, Feb. 19, 2016 /PRNewswire/ -- MTU Friedrichshafen GmbH ("MTU"), a subsidiary of Rolls-Royce Power Systems, and China Yuchai International Limited's main operating subsidiary, Guangxi Yuchai Machinery Company Ltd. ("GYMCL"), have today signed an agreement to set up a 50/50 joint venture for the production, under licence from MTU, of MTU diesel engines in China. Each party will invest 75 million RMB (around 10.5 million Euro) in the joint venture.

The joint venture will be based at GYMCL's primary manufacturing facilities in Yulin City in Guangxi Province, south China and is expected to begin production in 2017. The joint venture will produce MTU Series 4000 diesel engines compliant with China Tier 3 emission standards with power outputs ranging from 1400 to 3490 kW, primarily for the Chinese off-highway market, in particular for power generation and oil & gas applications.

The joint venture will open up new growth opportunities for both partners, particularly in China and Asia. The joint venture will enable better access to the Chinese market for the MTU Series 4000 diesel engines, via the extensive sales and service network operated by GYMCL. GYMCL will, as a result of the joint venture, be able to offer its customers technologically advanced engines that have a proven record on the global market. The joint venture engines will be marketed by GYMCL and MTU Suzhou within China and by MTU and its subsidiaries exclusively outside China. From 2020, the sales territory of GYMCL will be extended to selected countries in South East Asia such as Vietnam, Thailand and Malaysia. After a ramp-up phase of 3 to 5 years, the scope of the joint venture might (subject to further discussion) be extended to research and development activities as well as potentially direct sales from the joint venture to the customer.

The establishment of the joint venture is subject to the fulfilment of certain conditions including but not limited to approvals by the relevant authorities.

SINGAPORE, Feb. 1, 2016 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company"), has announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), launched four new engines compliant with National V emission standards covering the light-, medium and heavy-duty and new energy engine segments. These new engines were unveiled at GYMCL's Sales & Marketing Conference held in Kunshan, Jiangsu Province on January 21, 2016.   

The first new engine is YC4Y22-50, a light-duty diesel engine designed by AVL List Gmbh, the renowned Austrian powertrain development company, and engineered by GYMCL. This engine has a displacement volume of 2.17 litres, 120-150 horsepower, and maximum torque of 360 Nm. Its power, fuel economy and low emissions make it ideal for use in pickup trucks and small buses.

The next is the YC6K13-50 heavy-duty diesel engine, which has the highest horsepower and torque in its product category in the domestic truck market. This new engine was built with improved piston stroke and reinforced components based on the YC6K12 engine series. With an increased displacement volume from 12.15 litres to 12.94 litres, 490-580 horsepower and maximum torque of 2,550 Nm, this engine is ideal for use in trucks that require high displacement and high horsepower.

GYMCL also launched the YC6JN-60 natural gas engine, which is the latest upgrade of its YC6J natural gas engine series. With a minimum natural gas consumption of 197g/(kW.h), this engine is even compliant with Euro VI emission standards. These engines are ideal for use in regular and hybrid public transportation buses, highway and tour buses, and various municipal vehicles.

The final engine that was launched was the National V compliant hybrid engine for buses to meet China's increasingly stringent requirements on energy efficiency and environmental protection.

Weng Ming Hoh, President of China Yuchai, commented, "Lowering carbon emissions is a key goal of the environmental policy of China's 13th Five-Year Plan. GYMCL continues to remain at the forefront of addressing emissions reduction through our advanced engine technology and research and development efforts. Our new National V compliant engines will directly result in lower emissions from trucks, buses and municipal vehicles on the road."

SINGAPORE, Jan. 27, 2016 /PRNewswire/ --China Yuchai International Limited (CYD)("China Yuchai" or the "Company"), announced today that its wholly-owned subsidiary Venture Lewis Limited ("VLL") has entered into a loan agreement with HL Global Enterprises Limited ("HLGE") ("2016 Loan Agreement") for the extension of a loan of S$68,000,000 ("Loan") to HLGE. The original amount of the Loan was S$93,000,000 which was granted to HLGE in February 2009 to refinance the zero coupon, unsecured, non-convertible bonds ("Bonds") issued by HLGE in 2006 and which matured on July 3, 2009 ("Maturity Date"). The principal amount has been reduced to S$68,000,000 pursuant to partial repayments totaling S$25,000,000 made by HLGE in 2011, 2012 and 2013 from disposal of assets. The Company through another wholly-owned subsidiary, Grace Star Services Ltd., owns 48.9% of the issued ordinary shares of HLGE.

The unsecured Loan has, pursuant to the terms of the 2016 Loan Agreement, been extended for one year from July 2016 and is due for repayment in July 2017. Under the terms of the 2016 Loan Agreement, the interest payable is the aggregate of a margin of 0.5% per annum and the 12-month Singapore Interbank Offer Rate ("SIBOR") expressed in a percentage rate as calculated by Reuters as the official calculation agent of SIBOR for the Association of Banks in Singapore, for Singapore Dollars, as at 11.00 a.m. on January 26, 2016. In the event the interest rate charged on external funds utilized by China Yuchai for their investment in HLGE is increased, the Company has a right to negotiate with HLGE with a view to agreeing on an increase in the interest rate payable by HLGE under the 2016 Loan Agreement subject to compliance with certain regulatory requirements. A negative pledge undertaking against any disposal or creation of security over substantially all of HLGE's assets without VLL's consent is also included.

The Company's Board of Directors approved the Loan extension after taking into account the relevant circumstances including (i) the continued challenges facing HLGE's hospitality operations in China amid the slower China economy and the oversupply of hotel rooms in both China and Malaysia; (ii) the weak financial condition of HLGE and its difficulties in obtaining financing from financial institutions; (iii) the need to provide support to HLGE to ensure its ability to continue as a going concern; and (iv) the continued efforts made by HLGE to explore potential opportunities, including disposal of non-core assets,  to improve its financial position. This transaction has also been reviewed and approved by the Company's audit committee who has determined that the terms of the Loan extension are fair and reasonable.

SINGAPORE, Jan. 22, 2016 /PRNewswire-FirstCall/ -- China Yuchai International Limited(CYD) ("China Yuchai" or the "Company") announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), had at its annual Sales and Marketing Conference convened in Kunshan, Jiangsu Province from January 19-21, 2016, reported that in 2015, GYMCL sold a total of approximately 365,000 engines as economic growth in China continued to decelerate.

SINGAPORE, Jan. 8, 2016 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), has won a competitive bid for the supply of 1,237 engines to power buses for the Lhasa Public Transportation Corporation.

The order includes 648 buses by Zhengzhou Yutong Bus Co., Ltd., 270 buses by Suzhou Jinlong Bus Co. Ltd., 164 buses by Xiamen Golden Dragon Bus Co. Ltd, and 155 buses by Foton Auv Bus Co., Ltd. Each bus is equipped with either GYMCL's YC4G or YC4S light-duty diesel engines. These buses are expected to arrive in Lhasa by March 2016 to service the upcoming peak tourist season.

Recently, seven buses equipped with GYMCL engines passed the reliability test in the challenging terrain of the Tibet Autonomous Region earning the stamp of approval from the Ministry of Transport.

In a separate order, one division of the People's Armed Police in the Tibet Autonomous Region ordered 29 buses equipped with GYMCL engines. These buses are scheduled to arrive in Lhasa at the beginning of 2016.

Weng Ming Hoh, President of China Yuchai, commented, "Our engines have jumpstarted the next generation of buses for use in the highland region of China. We continue to expand our market share in that segment thanks to our high quality engines, widespread service network and in-house parts inventory."

• Net revenue declined to RMB 3.0 billion (US$ 472.4 million) compared with RMB 3.8 billion in the third quarter of 2014;

• Earnings per share were RMB 0.01 (US 0.14 cents) compared with RMB 3.77 in the third quarter of 2014;

Mr. Weng Ming Hoh, President of China Yuchai, commented, "The Company has maintained its profitability despite the third quarter decline and the weaker than usual demand in the commercial vehicle market. The challenging market environment was aggravated by lower than expected economic growth in China. We responded by increasing our efficiency through the disposal of Xiamen Factory and consolidating our manufacturing and assembly operations in Yulin. We continue to emphasize operational efficiency and cost controls to increase profitability."

"The near-term outlook remains uncertain, but we are encouraged by the Chinese government's policies to ensure stability of its economy. We continue to look for ways to strengthen our balance sheet and enhance shareholder value."

SINGAPORE, Oct. 6, 2015 /PRNewswire/ -- China Yuchai International Limited (CYD) ("China Yuchai" or the "Company") announced today that its main  subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), has entered into an equity transfer agreement ("Agreement") to sell its 100% shareholding interest in Xiamen Yuchai Diesel Engines Co., Ltd. ("Xiamen Yuchai") to a third party. This transaction has been approved by the Xiamen Industry and Commerce Administration Bureau.

Pursuant to the Agreement, GYMCL will receive a total consideration of RMB189.5 million. On a preliminary basis, GYMCL expects to record a loss of RMB 17.6 million from this transaction.

Xiamen Yuchai was established in December 2006 to facilitate the construction of a new diesel engine assembly factory in Xiamen, Fujian Province, mainly for 6-cylinder heavy-duty diesel engines. Commercial production at Xiamen Yuchai commenced in September 2009. With a total investment of RMB 200 million and annual production capacity of 100,000 units, the intended aim of this assembly facility was to supply to several large customers of GYMCL in the surrounding region. After the disposal, GYMCL will continue to serve these customers from its main manufacturing base in Yulin City.

Weng Ming Hoh, President of China Yuchai, commented, "We believe that the consolidation of our facilities will create more value for our shareholders. The operating environment has changed since the commencement of production at Xiamen Yuchai in 2009. With this disposal, we are able to become more efficient and cost-effective as we consolidate our operations back to Yulin City. In this current challenging environment, we will continue to explore cost-saving initiatives while maintaining our market leadership by providing high-quality engine products and best-in-class services to all our customers throughout China."

SINGAPORE, September 28, 2015 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that further to its announcement on April 14, 2015 on the receipt of approval from China's National Association of Financial Market Institutional Investors ("NAFMII") for the issuance of RMB-denominated unsecured ultra short-term bonds amounting to RMB 2 billion ("Bonds"), its key subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") had, on September 16, 2015 issued the second tranche of the Bonds amounting to RMB 400 million. The par value and issue price of each Bond is RMB 100. The maturity date of the second tranche of the Bonds is June 13, 2016.

The second tranche of the Bonds will bear a fixed annual interest rate of 3.9%. Subscription to and trading of the Bonds is only available in China to institutional investors of China's National Inter-bank Bond Market. The lead underwriter and bookrunner for the Bonds is the China Development Bank.

The proceeds from the issuance of the Bonds are to be used by GYMCL for repayment of loans. GYMCL will continue to review its financing strategy according to changes in China's economic environment and monetary policy.

Second Quarter 2015 Financial Results

• Revenue for the second quarter of 2015 declined 2.1% to RMB 4.1 billion (US$674.2 million) compared to RMB 4.2 billion in the second quarter of 2014.
• net profit attributable to China Yuchai's shareholders was RMB 176.4 million (US$28.9 million), or earnings per share of RMB 4.62 (US$0.76), compared with RMB 165.4 million, or earnings per share of RMB 4.44 in the same quarter in 2014. 

Mr. Weng Ming Hoh, President of China Yuchai, commented, "While both the industry and competitive landscape are experiencing adverse headwinds, our second quarter 2015 profit was better than last year demonstrating the resilience of our Company. We have shown that we are among the best-in-class independent engine makers in China with a wide array of product offerings. China is now strictly enforcing higher emission standards nationwide, and we were able to increase sales of National IV and V engines. As a result, our average sales price and gross profit margin improved in the second quarter."

"In these challenging times, we tightened controls on our capital expenditures and implemented a variety of cost-saving measures. We will continue to exercise strict financial discipline to improve the balance sheet and protect our cash position," Mr. Hoh concluded.

SINGAPORE, July 9, 2015 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today the results of stockholders' elections in relation to the dividend declared by its Board of Directors on May 22, 2015. The dividend of US$1.10 per share of common stock for the financial year 2014 to be made either wholly in cash or in new shares of CYI's common stock ("Shares") at the option of the stockholder, will be paid on July 14, 2015 to shareholders of record at the close of business on June 5, 2015.

Based on the elections by Shareholders, the aggregate dividend will be paid in the form of approximately US$23.4 million in cash and 1,102,634 Shares. The number of Shares to be issued per share of common stock was determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from June 29 to and including July 1, 2015 which was US$16.8792 per Share. Further to the issuance of 1,102,634 Shares pursuant to the dividend payment, the Company's outstanding shares of common stock will increase to 39,298,340.

Shareholders who did not make an election or failed to respond within the given timeline will receive the dividend entirely in cash. CYI will pay fractional shares in cash which was determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from June 29 to and including July 1, 2015 which was US$ 16.8792 per Share.

SINGAPORE, July 6, 2015 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), has won a competitive bid for nearly 1,300 engines for school buses to be exported to Saudi Arabia. China Yuchai's engines represent around 90 percent of the total units awarded in this contract.

This is one of the largest Chinese bus engine export orders in 2015 so far. On June 18, 2015, a total of 1,060 King Long buses powered with GYMCL engines were exported to Saudi Arabia. China Yuchai was one of the first group of Chinese bus engine manufacturers to enter the market in Saudi Arabia and it has a proven track record of winning large orders for the supply of engines for school buses there.

Weng Ming Hoh, President of China Yuchai, commented, "We have become one of the preferred bus engine providers in Saudi Arabia as local customers take advantage of our wide range of highly reliable and high performance engines."

SINGAPORE, June 11, 2015 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), has won a competitive bid to supply over 600 National IV compliant diesel engines to Shenzhen Western Bus Co., Ltd. ("Western Bus").

Western Bus set high requirements for reliability, performance, energy conversation, emissions reduction, and service as the key criteria for the bidding evaluation. As a result, only three brands were considered. After strict evaluation, the orders were awarded to GYMCL.

Weng Ming Hoh, President of China Yuchai, commented, "Our wide range of industry-leading domestic engines and superior service enabled us to win this highly competitive bid. For many years, we have been the front runner in product upgrade and introduced 'first to market' engines compliant with emission standards beyond the then current requirements. We were the first to introduce National IV engines in 2008 well before that standard was implemented and enforced nationwide and we already have available National V and VI-compliant diesel engines. This order has laid a solid foundation in 2015 for us to further develop our reach into the Shenzhen market and maintain our leadership in the bus segment."

SINGAPORE, May 22, 2015 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that a dividend of US$1.10 per share of common stock for the financial year 2014 has been declared by its Board of Directors. The dividend payment will be made either wholly in cash or in new shares of CYI's common stock ("Shares") at the option of the stockholder.

Stockholders will make an election to receive the dividend either wholly in cash or in Shares. The number of Shares to be issued per share of common stock as a result of the dividend payment will be determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from June 29 to and including July 1, 2015. The dividend is payable on July 14, 2015 to shareholders of record at the close of business on June 5, 2015 with an ex-dividend date of June 3, 2015.

Shareholders who do not make an election will receive the dividend entirely in cash. CYI will pay fractional shares in cash which will be determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from June 29 to and including July 1, 2015. The Company reserves the right to pay the dividend entirely in cash.

First Quarter 2015 Financial Results

• Revenue for the first quarter of 2015 decreased 19.1% to RMB 3.7 billion (US$599.1 million) from RMB 4.6 billion in the first quarter of 2014.
• In the first quarter of 2015, total net profit attributable to China Yuchai's shareholders was RMB 105.4 million (US$17.2 million), or earnings per share of RMB 2.76 (US$0.45) compared with RMB 180.0 million, or earnings per share of RMB 4.83 in the same quarter in 2014.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "Our sales results in the first quarter of 2015 reflected the impact of both a slowing economy and reduced commercial vehicle demand. We were also affected by the pre-buying of commercial vehicles compliant with National III emission standards whereby sales were brought forward to 2014 before the strict enforcement of the National IV emission standards nationwide on January 1, 2015. Truck sales were particularly affected and heavy-duty truck sales declined 33.7% in the first quarter of 2015."

"We anticipated this challenging environment and made adjustments to our operations to manage production in line with current requirements. We continue to execute our diversification strategy as we added new diesel and natural gas engines for the truck market, and for the bus market to enhance our leadership there. We are using our new high horsepower engines to further penetrate the off-road markets. We will continue to maintain discipline in the management of our balance sheet in a changing business environment in China." Mr. Hoh concluded.

SINGAPORE, April 29, 2015 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), a leading automotive manufacturer and distributor of engines in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that its preliminary unaudited revenue was RMB 3.7 billion (US$ 599.1 million) for the first quarter of 2015 compared to RMB 4.6 billion in the first quarter of 2014.

The total number of engines sold by GYMCL during the first quarter of 2015 was 105,046 units compared with 151,909 units in the same quarter of 2014, representing a decrease of 46,863 units, or 30.8%. This was mainly due to the weak commercial vehicle market and economic slowdown in China in the first quarter of 2015. According to the China Association of Automobile Manufacturers ("CAAM"), commercial vehicle sales (excluding gasoline-powered vehicles) declined by 25.6% in the first quarter of 2015 to 618,329 units, and total truck sales declined 29.2% and heavy-duty truck sales decreased by 33.7% compared to the first quarter of 2014.

The Company also announced that it will be releasing its full unaudited first quarter 2015 financial results on Thursday, May 7, 2015 before the market opens for trading. A conference call and audio webcast for the investment community has been scheduled for 8:00 A.M. Eastern Daylight Time on May 7, 2015. The call will be hosted by Mr. Weng Ming HOH, President, and Mr. Kok Ho LEONG, Chief Financial Officer of China Yuchai. They will present and discuss the financial results and business outlook of the Company followed with a Q&A session.

China Yuchai International Limited

Consolidated Statement of Profit or Loss

(Rmb and US$ amounts expressed in thousands, except per share data)

Management Discussion and Analysis

Revenue for 2014 was Rmb 16,436.1 million (US$2,669.8 million) compared with Rmb 15,902.4 million in 2013, an increase of 3.4%. The total number of diesel engines sold by Yuchai during 2014 was 483,825 units compared with 500,756 units in 2013, representing a decrease of 16,931 units, or 3.4%. Revenue increased despite a decrease in total engine units sold primarily due to higher sales of National IV emission standard engines in 2014. The higher emission standard engines such as National IV engines have a higher average selling price than lower emission standard engines. The decline in units sold was consistent with the general market trend. In 2014, the commercial vehicle market in China declined compared to 2013, especially in the truck segment. CAAM reported that commercial vehicle engine sales (excluding gasoline-powered vehicles) had declined by 10.8% in 2014 compared to 2013. The truck market declined in 2014 because of the strict enforcement of National IV emission standards beginning on January 1, 2015, which created a strong pre-buying effect in the preceding year ending December 31, 2013.

Profit attributable to us was Rmb 730.3 million (US$118.6 million) in 2014 compared with Rmb 700.4 million in 2013, representing an increase of 4.3%. Profit attributable to non-controlling interests was Rmb 291.5 million (US$47.3 million) compared with Rmb 239.5 million in 2013, representing an increase of 21.7%.

SNGAPORE, April 14, 2015 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that its key subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") further to the receipt of approval from China's National Association of Financial Market Institutional Investors ("NAFMII") for the issuance of RMB-denominated unsecured ultra short-term bonds not exceeding 270 days amounting to RMB 2 billion ("Bonds") had, on April 8, 2015 issued the first tranche of the Bonds amounting to RMB 400 million. The par value and issue price of each Bond is RMB 100. The maturity date of the first tranche of the Bonds is May 9, 2015.

The first tranche of the Bonds will bear a fixed annual interest rate of 4.9%. Subscription to and trading of the Bonds is only available in China to institutional investors of China's National Inter-bank Bond Market. The lead underwriter and bookrunner for the Bonds is the China Development Bank.

The proceeds from the issuance of the Bonds are to be used by GYMCL for working capital purposes and repayment of loans. GYMCL decided on the Bonds issue as it is a cost effective option of raising capital in the current monetary market. China's benchmark one-year lending rate is currently at 5.35% and the prevailing discount rate for bank bills is higher than the fixed annual interest rate of the Bonds. GYMCL will continue to review its financing strategy according to changes in China's economic environment and monetary policy.

This press release does not constitute an offer of securities for sale in the United States, and securities may not be offered or sold in the United States absent registration or an exemption from registration. The Company does not intend to register any portion of the Bonds issue referred to above in the United States or to conduct a public offering in the United States. Any public offering of securities to be made in the United States will be by means of a prospectus that can be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements.

SINGAPORE, April 9, 2015 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), has entered into an agreement to form a new joint venture, YC Europe Co., Ltd. ("YC Europe"), in Hong Kong with Shentou Investments (Hong Kong) Limited ("Shentou"), a company specializing in the sale of Chinese products in Europe, including automobile spare parts, and a partner with extensive engine distribution experience and familiarity with the markets in Europe. YC Europe will establish a wholly-owned subsidiary, YC Europe (Germany) GmbH ("YC Germany"), based in Germany to market off-road engines (excluding marine engines) in Europe.

YC Europe and YC Germany will establish a sales network and develop distribution programs to exclusively sell GYMCL off-road diesel and gas engines (excluding marine engines) and spare parts throughout Europe, as well as provide services in engine related areas. GYMCL will supply engines and spare parts, training and service expertise to YC Europe and YC Germany.

The registered capital of YC Europe is 3.0 million Euros. Shentou and GYMCL's shareholding in YC Europe will be 57.5% and 35% respectively with the other partner taking the remaining 7.5% equity interest.

Weng Ming Hoh, President of China Yuchai, commented, "We expect this new joint venture to accelerate the introduction of our products into the European markets and contribute to our overall sales. Our advanced engines conform to world-class quality, performance and emissions technology standards and with this new venture, we are well-positioned to maximize global distribution opportunities."

Fourth Quarter of 2014 Financial Results

• Net revenue declined by 6.4% to RMB 3.9 billion (US$ 640.8 million) compared with RMB 4.2 billion in the fourth quarter of 2013;
• Total net profit attributable to China Yuchai's shareholders decreased 5.1% to RMB 241.2 million (US$ 39.4 million), or earnings per share of RMB 6.31 (US$ 1.03), compared with RMB 254.1 million, or earnings per share of RMB 6.82 in the same quarter in 2013.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "As China began the strict enforcement of the National IV emission standards nationwide on January 1, 2015, we saw a noticeable product mix shift towards engines compliant with National IV emission standards in the fourth quarter of 2014. We believe that the emission change is beneficial for GYMCL in the long term as the technological entry barrier in the marketplace is now higher."

"Since 2012, we added 30 new engines which improved our engines' performance and provided leading emission technologies to strengthen our customer relationships and attract new customers as well. Our new high horsepower engines have been well received and sales of our natural gas engines increased in 2014. We are already selling National V natural gas and National VI diesel engines in China and are ahead of the technology curve. We are well positioned for future growth in China." Mr. Hoh concluded.

Mr. Kok Ho Leong, Chief Financial Officer of China Yuchai, stated, "We generated healthy cash flow from operations and maintained a strong balance sheet for 2014. We will continue to exercise financial prudence in the management of the Company."

SINGAPORE, February 11, 2015 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its wholly-owned subsidiary Venture Lewis Limited ("VLL") has entered into a loan agreement with HL Global Enterprises Limited ("HLGE") ("2015 Loan Agreement") for the extension of a loan of S$68,000,000 ("Loan") to HLGE. The original amount of the Loan was S$93,000,000 which was granted to HLGE in February 2009 to refinance the zero coupon, unsecured, non-convertible bonds ("Bonds") issued by HLGE in 2006 and which matured on July 3, 2009 ("Maturity Date"). However, the principal amount has been reduced to S$68,000,000 pursuant to partial repayments of S$10,000,000, S$8,000,000 and S$7,000,000 made by HLGE in February 2011, April 2012 and July 2013 respectively. The Company through another wholly-owned subsidiary, Grace Star Services Ltd., owns 48.9% of the issued ordinary shares of HLGE.

The unsecured Loan has, pursuant to the terms of the 2015 Loan Agreement, been extended for one year from July 2015 and is due for repayment in July 2016. Under the terms of the 2015 Loan Agreement, the interest payable will remain as the aggregate of a margin of 1.00% per annum and the 12-month Singapore Interbank Offer Rate expressed in a percentage rate fixed by the Association of Banks in Singapore for Singapore Dollars as of February 10, 2015. In the event the interest rate charged on external funds utilized by China Yuchai for their investment in HLGE is increased, the Company has a right to negotiate with HLGE with a view to agreeing on an increase in the interest rate payable by HLGE under the 2015 Loan Agreement subject to compliance with certain regulatory requirements. A negative pledge undertaking against any disposal or creation of security over substantially all of HLGE's assets without VLL's consent is also included.

The Company's Board of Directors approved the Loan extension after taking into account (i) the continued challenges facing HLGE's hospitality operations in China from increasing competition and high operating costs which impacted on its results; (ii) the weak financial position of HLGE and its difficulties in obtaining financing from financial institutions; (iii) the need to provide support to HLGE to ensure its ability to continue as a going concern; and (iv) the continued efforts made by HLGE to explore potential opportunities to improve its financial position. This transaction has also been reviewed and approved by the Company's audit committee who has determined that the terms of the Loan extension are fair and reasonable and are not prejudicial to the interests of the Company and its shareholders.

SINGAPORE, January 27, 2015 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), had, at its annual sales and marketing conference held on January 24, 2015, introduced 10 new engines for 2015.

The YC6L-60 diesel engine is China Yuchai's newest diesel engine compliant with National VI emission standards. This new engine is a high-end model of the 6L heavy-duty platform. It has a power range between 177-243 KW and is designed for use in buses between 10-12 meters and trucks that carry loads of 25-40 tons. Improvements in the YC6L-60 include medium cooling EGR, innovative DPF and efficient SCR technologies.

Five new National V-compliant engines were introduced for various truck and bus markets. The YC4Y22-50 diesel engine has a 2.2 liter engine for the light-duty truck and bus markets. The YC4S-50 diesel engine has a 3.76 liter engine for medium- to high-end trucks and buses. The YC4EG-50 diesel engine contains a 4.73 liter engine for medium-duty buses and light- and medium-duty highway trucks. The YC6MK-50 is a 10.3 liter engine for on-road trucks and buses. The YC4FAN-50 natural gas engine is designed to be used in light-duty vehicles.

Three new engines meeting the T-3 emission standards for off-road diesel engines were also unveiled. Two new models, the YC6J-T30 and YC4D-T30, are for the loader, excavator and forklift markets. The YC4A-T30 engine is designed for the agriculture market and has been upgraded. This engine improves the heat transfer efficiency of the cooling system by more than 30%, and uses a high pressure injection mechanical in-line pump and exhaust gas recirculation ("EGR") technology.

The new YC4FQ-48 engine compliant with National IV emission standards is for use in light-duty trucks. With a 2.5 liter displacement, it is lighter in weight with an improved cooling system compared with the model YC4FA engine. This new model utilizes high pressure common rail, EGR, diesel oxidation catalyst ("DOC") and diesel particle filter ("DPF") technologies.

The total number of engines sold by GYMCL in 2014 was 483,825 units compared with 500,756 units in 2013.

Weng Ming Hoh, President of China Yuchai, commented, "We continue to introduce new models to raise the performance and quality standards for engines in China. Our new engines will help us further penetrate a number of markets to expand our leading market share. We are committed to increasing our research and development efforts to provide innovative engines, improve our customer relationships and attract new customers. "

SINGAPORE, January 23, 2015 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that a "K-Gold" model C&C truck equipped with the YC6K1340N liquid natural gas ("LNG") engine, has won the "Fuel Efficient Heavy-Duty Truck of the Year 2014" at China's largest annual commercial vehicle ("CV") event.

The "2014 Commercial Vehicles of the Year" competition was hosted in Beijing by Commercial Motor World Magazine, the leading CV magazine. The event was co-hosted by the Research Institute of Highway Ministry of Transport, the China Automotive Technology & Research Center, the Beijing Institute of Technology, and Tongji, Chang'An and Beihang Universities. Competitors included FAW Jiefang, Sinotruk, Auman Truck, SAIC-IVECO Hongyan and others.

The YC6K13N series of engines are produced by Y&C Engine Co., Ltd. ("Y&C"). Y&C is a joint venture of China Yuchai's main operating subsidiary, Guangxi Yuchai Machinery Company Limited with Shenzhen City Jiusi Investment Management Co., Ltd. and Jirui United Heavy Industry Co., Ltd, a company jointly established by China International Marine Containers Group Ltd. and Chery Automobile Co., Ltd.

The YC6K1340N engine has the largest displacement and highest torque power among comparable natural gas engines in China. By utilizing lean-burn technology, it reduces average energy consumption by approximately 25% compared with diesel engines of similar size and power. The model YC6K1340N is the only engine in China that utilizes the JACOBS in-cylinder brake technology, and has LNG braking power up to 17Kw/L.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We are pleased that our YC6K13N engine has, once again been recognized as the leader in fuel conservation, emissions control and high performance in its engine category. We continue to invest in research and development to improve our broad portfolio of engines to offer customers advanced solutions in performance, durability, fuel conservation and emissions control. We are committed to being a leader in engine technology in China."

SINGAPORE, January 9, 2015 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that the Company's main subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), has won a competitive tender for the supply of a total of 635 units of National V natural gas and National VI diesel engines from Beijing Bafangda Express Bus Services Co., Ltd. ("Bafangda"), a subsidiary of the Beijing Public Transportation Group.

The contract is for 587 units of National V natural gas engines and 48 units of National VI diesel engines. The breakdown of natural gas engines is 237 units of engine model YC6L260N-50, 108 units of model YC6MK320N-50 and 242 units of model YC6K1336N-50. This contract represents the first purchase of YC6K13N engines in the Chinese bus market.

GYMCL is the largest natural gas engine supplier to Bafangda in tenders called in 2012 and 2014 supplying a total of 1,700 engines representing 35% of the total amount required under the 2 tenders. This is GYMCL's second award through a competitive bidding process by the Beijing Public Transportation Group for National V natural gas engines since 2012, and the first award for the purchase of National VI diesel engines. The first large-scale applications of GYMCL's National III, IV and V natural gas and National VI products all began with open tender purchases by the Beijing Public Transportation Group, representing the municipal bus service in Beijing.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "By winning this competitive bid, we further demonstrate the breadth, high performance and advanced emission technology of our engines. We are the only domestic engine company to be awarded a contract to supply the environmentally friendly National VI diesel engine in China."

"Our advanced engines continue to be purchased in the most important public transportation market in China, the Beijing public transit market. As a leader in Chinese emission control technology, our engines have attained global emission standards. Superior emission technologies are an important purchasing consideration as China's many municipalities seek to reduce pollution and improve air quality." Mr. Hoh concluded.

SINGAPORE, December 10, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that trucks equipped with its YC6K12 diesel and YC6K13N liquid natural gas ("LNG") engines won first place in their respective categories at the Seventh China International Truck Fuel Economy Competition held in Beijing.

The competition was hosted by China Automotive News, the China Automobile Technology and Research Center and China Dingyuan Automobile Testing Center.

The YC6K12 diesel and YC6K13N engines are produced by Y&C Engine Co., Ltd. ("Y&C"). Y&C is a joint venture of China Yuchai's main operating subsidiary, Guangxi Yuchai Machinery Company Limited with Shenzhen City Jiusi Investment Management Co., Ltd. and Jirui United Heavy Industry Co., Ltd, a company jointly established by China International Marine Containers Group Ltd. and Chery Automobile Co., Ltd.

The YC6K13N engine has the highest torque power among similar-sized gas engines. By utilizing lean-burn technology, it reduces average energy consumption by 25% compared with a diesel engine of comparable size and power. This 13-liter engine uses 0.8kg/ton of fuel per 100 kilometers. It is compliant with Euro V emission standards.

The YC6K12 diesel engine was independently developed by Y&C to meet advanced world standards in areas such as fuel consumption and weight. It applies high reliability technology enhancing the engine's dependability and utilizes innovative technologies such as more accurate combustion and electronic control as well as high-strength materials and a high-efficiency engine cooling system which substantially extends the engine's useful life. This is an advanced 12-liter engine compliant with Euro V and VI emission standards.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "These awards are an endorsement to the effectiveness of our research and development ("R&D") program to create market-leading engines to maintain our leadership in the world's largest automotive market. Over the last two years, we have launched 20 new engines including a suite of natural gas and high horsepower engines. We continue to invest in R&D to continually introduce new and improved engines which will position us to increase our share across the different market segments."

Third Quarter 2014 Financial Results

• Net revenue was RMB 3.75 billion (US$ 609.9 million ) compared with RMB 3.70 billion in the third quarter of 2013.
• Earnings per share were RMB 3.77 (US$ 0.61) compared with RMB 2.86 in the third quarter of 2013;

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We are pleased to have achieved higher revenues as our strategy of supplying advanced engines to multiple markets enabled us to counteract volatility across different segments. Higher sales to the agriculture, bus and natural gas engine markets in the third quarter mitigated headwinds in other market segments. Our ability to develop engines with increased performance and industry-leading engine emissions enhanced our customer relationships in the large Chinese engine market."

Mr. Kok Ho Leong, Chief Financial Officer of China Yuchai, stated, "The strength of our balance sheet and cash position helped us to weather the changing economic environment in China. We also benefited from the issuance of three-year, medium-term notes in 2013 at a low interest rate of 4.69%. As a result of our performance in 2013, we rewarded our shareholders with a dividend of US$1.20 per share which was made wholly in cash or in new shares at the election of our shareholders."

SINGAPORE, October 2, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") has divested its entire 70% shareholding interest in Jining Yuchai Engine Company Limited ("Jining Yuchai"), its diesel car engine manufacturing joint-venture with Zhejiang Geely Holdin g Group Co., Ltd.Jining Yuchai was established in 2008 to develop and manufacture diesel engines for passenger vehicles in China. GYMCL made the decision to exit from this joint-venture after discussions with the other shareholder in Jining Yuchai.

The financial impact of this divestiture is being evaluated by the Company and will be announced when it has been determined.

SINGAPORE, September 10, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that further to its announcement on July 2, 2014, its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), has completed its acquisition of 100% equity interest in Yuchai Remanufacturing Services (Suzhou) Co., Ltd. ("YRC").

Pursuant to an equity transfer agreement entered into between Caterpillar (China) Investment Co., Ltd. and GYMCL, the former transferred its entire 49% equity ownership in YRC to the latter resulting in YRC becoming a wholly-owned subsidiary of GYMCL.

Second Quarter 2014 Financial Results

• Revenue was RMB 4.2 billion (US$684.6 million) which was similar to the second quarter of 2013
• Earnings per share was RMB 4.44 (US$0.72) compared with RMB 4.46 for the same quarter in 2013

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We have improved our market position and shown our resilience in a difficult environment in China. We are pleased to report higher revenue in the first six months of 2014 as a result of increased engine sales to the off-road market, namely the agriculture, marine and power generation segments. We are encouraged by the continued demand for our natural gas engines as well as National IV compliant diesel engines. Due to the change in our product mix, our gross margin has improved compared to the first quarter of 2014. We continue to focus our research and development efforts to build higher quality engines with enhanced performance and improved engine emissions which will help to strengthen our relationships with our customers."

SINGAPORE, July 4, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today the results of stockholders' elections in relation to the dividend declared by its Board of Directors on May 12, 2014. The dividend of US$1.20 per share of common stock for the financial year 2013 to be made either wholly in cash or in new shares of CYI's common stock ("Shares") at the option of the stockholder, will be paid on July 7, 2014 to shareholders of record at the close of business on May 28, 2014.

Based on the elections by Shareholders, the aggregate dividend will be paid in the form of approximately US$26 million in cash and 928,033 Shares. The number of Shares to be issued per share of common stock was determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from June 18 to and including June 20, 2014 which was US$20.1343 per Share. Further to the issuance of 928,033 Shares pursuant to the dividend payment, the Company's outstanding shares of common stock will increase to 38,195,706.

Shareholders who did not make an election or failed to respond within the given timeline will receive the dividend entirely in cash. CYI will pay fractional shares in cash which was determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from June 18 to and including June 20, 2014 which was US$ 20.1343 per Share.

SINGAPORE, July 2, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), has entered into an equity transfer agreement to restructure the ownership of its joint venture company - Yuchai Remanufacturing Services (Suzhou) Co., Ltd. ("YRC").

Pursuant to the agreement, Caterpillar (China) Investment Co., Ltd. ("Caterpillar") will transfer its entire 49% equity ownership in YRC to GYMCL, bringing GYMCL's equity ownership to 100%. As a result, YRC will become a wholly-owned subsidiary of GYMCL. No financial terms are disclosed, as the total consideration is nominal to China Yuchai's balance sheet. The transaction is subject to approval by the Suzhou Bureau of Commerce.

YRC was established in China to provide remanufacturing services for GYMCL's diesel engines and components as well as selected Caterpillar diesel engines and components. Incorporated in April 2010, YRC began operations in 2011.

Benefitting from Caterpillar's expertise, YRC has developed high-quality standards and critical management processes. Both parties have agreed that it is now an appropriate time for GYMCL to assume control of YRC as there are significant advantages from the integration of the remanufacturing business with GYMCL's manufacturing operations. Caterpillar has agreed to continue to provide technical support to YRC and to further enhance awareness of the advantages of remanufacturing within China. Both parties will continue to maintain a mutually beneficial working relationship as a result of their partnership in YRC over the past few years.

Weng Ming Hoh, President of China Yuchai, commented, "We look forward to further developing the remanufacturing business as we believe that it provides a sustainable long-term solution to the increasing concerns over environmental pollution in China. Remanufacturing is beneficial to our customers and is an additional service we can offer. We believe that our engine operations and now wholly-owned remanufacturing subsidiary will be able to generate greater synergy and create more value for GYMCL's engine users."

SINGAPORE, July 2, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), has entered into an equity transfer agreement to restructure the ownership of its joint venture company - Yuchai Remanufacturing Services (Suzhou) Co., Ltd. ("YRC").

Pursuant to the agreement, Caterpillar (China) Investment Co., Ltd. ("Caterpillar") will transfer its entire 49% equity ownership in YRC to GYMCL, bringing GYMCL's equity ownership to 100%. As a result, YRC will become a wholly-owned subsidiary of GYMCL. No financial terms are disclosed, as the total consideration is nominal to China Yuchai's balance sheet. The transaction is subject to approval by the Suzhou Bureau of Commerce.

YRC was established in China to provide remanufacturing services for GYMCL's diesel engines and components as well as selected Caterpillar diesel engines and components. Incorporated in April 2010, YRC began operations in 2011.

Benefitting from Caterpillar's expertise, YRC has developed high-quality standards and critical management processes. Both parties have agreed that it is now an appropriate time for GYMCL to assume control of YRC as there are significant advantages from the integration of the remanufacturing business with GYMCL's manufacturing operations. Caterpillar has agreed to continue to provide technical support to YRC and to further enhance awareness of the advantages of remanufacturing within China. Both parties will continue to maintain a mutually beneficial working relationship as a result of their partnership in YRC over the past few years.

Weng Ming Hoh, President of China Yuchai, commented, "We look forward to further developing the remanufacturing business as we believe that it provides a sustainable long-term solution to the increasing concerns over environmental pollution in China. Remanufacturing is beneficial to our customers and is an additional service we can offer. We believe that our engine operations and now wholly-owned remanufacturing subsidiary will be able to generate greater synergy and create more value for GYMCL's engine users."

SINGAPORE, June 24, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that new-energy buses running on engines supplied by the Company's main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), have been launched in Fushun City ("Fushun"), Liaoning Province located in Northeast China.

As a national pilot city for new-energy buses, Fushun has made its first large purchase of new-energy buses from Zhengzhou Yutong Bus Company. Out of the 800 new buses ordered, 600 buses were installed with GYMCL's gas-electric hybrid engines with the remaining 200 buses running on GYMCL's liquefied natural gas engines.

Officials from the Fushun municipal government, representatives from GYMCL and Zhengzhou Yutong Bus Company attended the new-energy bus launch event.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "The introduction of new-energy buses in Fushun shows the determination of the Chinese government to improve the environment through the reduction of harmful emissions. We are receiving increasing demand for our hybrid and natural gas engines to provide solutions for reducing engine emissions and improving fuel efficiency. The selection of GYMCL's engines by Fushun is an endorsement of our superior design and product quality and we are well positioned to benefit from the expected market expansion of new-energy vehicles."

SINGAPORE, June 24, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that new-energy buses running on engines supplied by the Company's main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), have been launched in Fushun City ("Fushun"), Liaoning Province located in Northeast China.

As a national pilot city for new-energy buses, Fushun has made its first large purchase of new-energy buses from Zhengzhou Yutong Bus Company. Out of the 800 new buses ordered, 600 buses were installed with GYMCL's gas-electric hybrid engines with the remaining 200 buses running on GYMCL's liquefied natural gas engines.

Officials from the Fushun municipal government, representatives from GYMCL and Zhengzhou Yutong Bus Company attended the new-energy bus launch event.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "The introduction of new-energy buses in Fushun shows the determination of the Chinese government to improve the environment through the reduction of harmful emissions. We are receiving increasing demand for our hybrid and natural gas engines to provide solutions for reducing engine emissions and improving fuel efficiency. The selection of GYMCL's engines by Fushun is an endorsement of our superior design and product quality and we are well positioned to benefit from the expected market expansion of new-energy vehicles."

SINGAPORE, May 14, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today a change to the ex-dividend date of May 26, 2014 as stated in its dividend announcement of May 12, 2014. Due to the New York Stock Exchange being closed on May 26, 2014 in observance of Memorial Day in the United States, the ex-dividend date will now be May 23, 2014.

All other dates in the May 12 dividend announcement remain unchanged.

SINGAPORE, May 12, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that a dividend of US$1.20 per share of common stock for the financial year 2013 has been declared by its Board of Directors. The dividend payment will be made either wholly in cash or in new shares of CYI's common stock ("Shares") at the option of the stockholder.

Stockholders will make an election to receive the dividend either wholly in cash or in Shares. The number of Shares to be issued per share of common stock as a result of the dividend payment will be determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from June 18 to and including June 20, 2014. The dividend is payable on July 7, 2014 to shareholders of record at the close of business on May 28, 2014 with an ex-dividend date of May 26, 2014.

Shareholders who do not make an election will receive the dividend entirely in cash. CYI will pay fractional shares in cash which will be determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from June 18 to and including June 20, 2014. The Company reserves the right to pay the dividend entirely in cash.

First Quarter 2014 Financial Results

• Revenue was RMB 4.6 billion (US$739.7 million) compared with RMB 3.8 billion in the first quarter of 2013
• Earnings per share were RMB 4.83 (US$0.78) compared with RMB 4.66 for the same quarter in 2013;

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We are pleased to report continued growth and profitability in the first quarter of 2014 in a slower economic growth environment in China. We have, today also announced a dividend of US$ 1.20 per ordinary share for the financial year 2013, payable wholly in cash or in new shares at the option of the stockholder, in view of the better performance over 2012."

Mr. Hoh further explained, "Our diverse product lines again created growth opportunities as we sold more engines to the truck market and the agriculture segment. We are encouraged over our natural gas engines as sales continued to post strong growth in 2014. Eight new engines have been launched in 2014, joining the 12 new engines launched in 2013, to further solidify our leadership in multiple market segments in China."

"We remain cautious as the Chinese government implements wide-ranging reforms to restructure its economy. As we enter into the replacement cycle for trucks, we believe that this combined with the continued pre-buying of National III-compliant commercial vehicles and the increase in public housing and railway construction will help sustain overall engine sales in 2014," Mr. Hoh concluded.

SINGAPORE, May 12, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that a dividend of US$1.20 per share of common stock for the financial year 2013 has been declared by its Board of Directors. The dividend payment will be made either wholly in cash or in new shares of CYI's common stock ("Shares") at the option of the stockholder.

Stockholders will make an election to receive the dividend either wholly in cash or in Shares. The number of Shares to be issued per share of common stock as a result of the dividend payment will be determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from June 18 to and including June 20, 2014. The dividend is payable on July 7, 2014 to shareholders of record at the close of business on May 28, 2014 with an ex-dividend date of May 26, 2014.

Fourth Quarter 2013 Financial Results

• Net revenue increased 24.5% to a fourth quarter record high of RMB 4.1 billion (US$ 666.6 million) compared with RMB 3.3 billion in the fourth quarter of 2012;
• Earnings per share increased 11.3% to RMB 6.61 (US$ 1.08) compared with RMB 5.94 in the fourth quarter of 2012;

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We ended the year strong with a new net revenue record for any fourth quarter achieved by the Company. According to data from the China Association of Automobile Manufacturers ("CAAM"), in 2013, our engine unit sales growth of 16.1% (inclusive of engines for both on-road and off-road applications) far surpassed the 5.6% growth in the commercial vehicle diesel engine market. Our investment in growing our technology base enabled us to provide more solutions to meet our customers' needs. We have introduced a full line of natural gas engines to complement our wide range of diesel engines. We were one of the earliest companies in China to launch a National IV compliant diesel engine and we now have a diversified engine portfolio meeting the current National IV emission standards. In addition, we also have available diesel and natural gas engines that comply with the more stringent National V emission standards. To penetrate off-road markets and enhance our growth, we have launched new engines in the high horsepower markets to capture more share in the marine, mining, construction equipment and power generation markets. Between 2013 and 2014, we launched 20 new engine models to increase our leadership position and to provide new solutions to our customers. "

Mr. Kok Ho Leong, Chief Financial Officer of China Yuchai, stated, "We continue to focus on maintaining a strong balance sheet to provide the resources to take advantage of our growth opportunities and reward our shareholders."

China Yuchai International Extends Loan Agreement with HL Global Enterprises Limited

SINGAPORE, February 19, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its wholly-owned subsidiary Venture Lewis Limited ("VLL") has entered into a loan agreement with HL Global Enterprises Limited ("HLGE") ("2014 Loan Agreement") for the extension of a loan of S$68,000,000 ("Loan") to HLGE. The original amount of the Loan was S$93,000,000 which was granted to HLGE in February 2009 to refinance the zero coupon, unsecured, non-convertible bonds ("Bonds") issued by HLGE in 2006 and which matured on July 3, 2009 ("Maturity Date"). However, the principal amount has been reduced to S$68,000,000 pursuant to partial repayments of S$10,000,000, S$8,000,000 and S$7,000,000 made by HLGE in February 2011, April 2012 and July 2013 respectively. The Company through another wholly-owned subsidiary, Grace Star Services Ltd., owns 48.9% of the issued ordinary shares of HLGE.

The unsecured Loan has, pursuant to the terms of the 2014 Loan Agreement, been extended for one year from July 2014 and is due for repayment in July 2015. Under the terms of the 2014 Loan Agreement, the interest payable will remain as the aggregate of a margin of 1.25% per annum and the 12-month Singapore Interbank Offer Rate expressed in a percentage rate fixed by the Association of Banks in Singapore for Singapore Dollars as of February 18, 2014. In the event the interest rate charged on external funds utilized by China Yuchai for their investment in HLGE is increased, the Company has a right to negotiate with HLGE with a view to agreeing on an increase in the interest rate payable by HLGE under the 2014 Loan Agreement subject to compliance with certain regulatory requirements. A negative pledge undertaking against any disposal or creation of security over substantially all of HLGE's assets without VLL's consent is also included.

SINGAPORE, January 27, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that the Company's main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), has, at a product conference held in Nanning City, capital of Guangxi Province in China, unveiled 8 new engine models to further increase its leadership in the engine market in 2014.

To better meet the needs of the truck and bus markets in China, several new engine models were introduced, all meeting the National IV emission standards:

• The new YC4E-48 is a light-truck diesel engine for urban logistical uses, special purpose vehicles and other vehicles focused on short- to mid-range transportation. This model uses a two-valve cylinder head combined with a Bosch common rail system paired with EGR, DOC and POC technologies. Its power range covers 103-118 KW and its advantage is enhancing operating cost savings.

• The YC4D20 2 litre diesel engine was jointly developed by GYMCL and AVL Powertrain Engineering. It produces 60 KW/L of power for SUVs/MPVs/N2 light-duty trucks and buses that are shorter than 6 meters. This engine uses 4 valves per cylinder, double overhead camshafts, high-pressure common rail injection technology, an electric EGR valve and variable swirl intake system.

• A redesigned 400-horsepower YC6MK engine for on-road trucks. This model provides enhanced low-speed torque improving stability when using high-speed gears. In addition to a reduction in fuel consumption, the engine's noise level has also been reduced by more than 3 decibels providing superior comfort. More than 70% of the core components of the YC6MK engine are industry-leading global products assembled under best practices in the industry.

• The model YC4S-48 which was upgraded from the YC4S engine for the high-end, light-truck market. This model targets mid- and high-end, on-road vehicles with a load capacity between 5-8 metric tons. It generates 88-110 KW power using a common rail system paired with EGR, DOC and POC technologies.

GYMCL also introduced its second-generation hybrid engine, model YCHPT II, to address the growing customer demand for advanced hybrid engines. The engine adopts plug-in systems to charge the vehicles' batteries, and it features an upgraded gearbox with an interchangeable 5-speed automatic and manual system. This hybrid engine meets the national energy vehicle policy conditions set out in the Chinese government's 12^th Five-Year plan, qualifying it for energy subsidies.

For the construction equipment market, two new engines were developed and launched to meet the EPA Tier 3 emission standards. The new model, YC6G220L-T31 series, replaces the 5 metric ton loaders' current 10-litre standard displacement engine with a 7.8 litres engine. This engine features a turbocharged intercooling system and an electronically controlled fuel injection system to enable quick adjustments to the engine's power and torque. Additionally, the new diesel engine model YC4FA45-T30 series targets hydraulic excavators and it features a mechanical rotary pump, with a faster response and low fuel consumption. This model meets the EU S3A or EPA Intermittent Tier 4 emission standards, and it has been awarded the e-mark certificate allowing for marketing into the European Union.

To further improve its position in the marine and power-gen engine markets, GYMCL launched the YC6CL1035L-C20 engine for low-speed engine applications. This engine is lightweight, fuel efficient and it is very adaptive allowing for different configuration options.

Weng Ming Hoh, President of China Yuchai, commented, "As a proud leader in the Chinese engine market, we are once again raising the bar with our new models for 2014. We continue to add advanced technologies to enhance the operating performance of our suite of engines. Since 2013, we have launched 20 new engine models to our broad portfolio of diesel and natural gas engines to better meet the needs of our customers across diverse market segments. Our robust product portfolio and strong pipeline demonstrates our advanced technical capabilities, dedication to innovation and commitment to customer relationships in the Chinese commercial engine market."

SINGAPORE, Dec. 27, 2013 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that engine sales by its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") is expected to exceed 500,000 units in 2013 compared with 431,350 units in 2012.

GYMCL's total unit sales in 2013 is anticipated to exceed the average growth in the engine industry in China.

SINGAPORE, December 11, 2013 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that the first vehicles using heavy-duty diesel engines produced by the Company's main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), have been delivered to Zibo Yaoxin Logistics Co., Ltd (ZYL).

The Shandong office of GYMCL together with Dongfeng Liuzhou Motor Co., Ltd., recently participated in a ceremony in Zichuan District, Zibo in Shandong Province, marking the delivery of 10 heavy-duty trucks powered by GYMCL's YC6MK engines to ZYL. With over 100 vehicles in its fleet, ZYL mainly transports ceramics and chemical materials between the ports of Zibo and Weifang in Shandong Province. ZYL previously used vehicles powered by engines from other manufacturers but has now decided to switch to GYMCL's engines.

The YC6MK 6-cylinder engine is an upgraded model from the existing 6M engine using newly developed 6K technology. This new generation, patented four-valve, supercharged, heavy-duty engine is compliant with National 4 emission standards. The YC6MK's four-valve technology with its unique combustion system provides increased power while reducing fuel consumption.

Weng Ming Hoh, president of China Yuchai, commented, "We welcome ZYL as a new customer and we are pleased that our advanced, heavy-duty diesel engine has been exclusively preferred over other engine manufacturers. The selection of our YC6MK engine is an endorsement of its enhanced power, higher reliability, environmental friendliness and lower fuel consumption. We believe this initial order signals a good opportunity for us to expand further in this region."

Third Quarter 2013 Financial Results

• Net revenue increased 21.6% to RMB 3.7 billion (US$ 608.7 million) compared with RMB 3.1 billion in the third quarter of 2012;
• Earnings per share were RMB 2.86 (US$ 0.46) compared with RMB 2.98 in the third quarter of 2012;

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We are pleased with our continued revenue growth. Similar to the previous quarter, the 'pre-buy' effect is still evident and we continue to fulfill orders from our OEM customers. China is gradually implementing the National IV emissions standard nationwide in its efforts to improve its on-going environmental issues. Our diversified product portfolio and in-house developed proprietary technologies enabled us to increase market share throughout the marketplace product upgrade. Our superior technology worked to our advantage as it enabled us to meet the increasing stringent emission standards in the industry. In addition to our product strategy, we continue to position ourselves strategically by forming key long-term partnerships. We are focused on maintaining our market leadership in the Chinese engine industry."

Mr. Kok Ho Leong, Chief Financial Officer of China Yuchai, stated, "We continued to improve our sound balance sheet and maintained our operating margin. While we are benefiting from the improved sentiment in the engine market, we remain cautious over the overall macroeconomic environment as the Chinese government focuses on restructuring the Chinese economy for its long-term viability and future growth prospects."

SINGAPORE, Oct. 14, 2013 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today changes in the ownership structure of the joint venture entered into by its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") and GYMCL's joint venture company, Y&C Engine Co., Ltd. ("Y&C Engine") with Baotou BeiBen Heavy Duty Truck Co., Ltd. ("BeiBen") and Inner Mongolia First Machinery Group Co., Ltd. ("First Machinery Group"), which was announced on June 4, 2013.

Further to discussions between the joint venture parties, the First Machinery Group will exit from the joint venture and be replaced with Baotou Beifang Chuangye Co., Ltd. ("Beifang") in which the First Machinery Group is the single largest shareholder with a 23.62% interest as reported in Beifang's semi-annual report released on August 27, 2013, covering the period January 1, 2013 to June 30, 2013.

Beifang is listed on the Shanghai Stock Exchange and is principally engaged in the research, development, manufacture and sale of railway transportation vehicles. The Company distributes its products domestically in China as well as overseas. As at the end of June 2013, Beifang had net assets of RMB 2.3 billion and net profit of RMB 164 million.

Beifang will hold 15% of the new joint venture entity with the remaining 85% interest held between BeiBen, GYMCL and Y&C Engine.

SINGAPORE, Sept. 5, 2013 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that the YC6K 6 cylinder 12L series of engines developed by Y & C Engine Co., Ltd. ("Y&C"), a joint venture of the Company's principal operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), have been awarded the European Union's ("EU") E-mark certification.

In order to enter the EU market, automotive systems, electronic products and a variety of related components must be certified to meet the basic requirements of traffic safety, noise levels and environmental protection. The E-mark is a compulsory safety certification mark which the European Commission requires member states to display on motor vehicles, parts and systems.

The tests were conducted on Y & C's test stands which are certified to Euro IV and Euro V emission standards as well as on-board diagnostic certification for heavy-duty engines, and all tests were successfully completed.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "By achieving the stringent E-mark certification, we have demonstrated that our advanced engines meet global technology and performance standards. Our YC6K diesel engines can now access countries that adopt EU regulations, which significantly broaden our export opportunities for these engines."

SINGAPORE, August 19, 2013 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that the Dalian Public Transport Group ("DPTG") Tourism Branch is using engines manufactured by its subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL), in 80% of its fleet of approximately 80 buses. GYMCL's engines have now become DPTG's preferred engine for use.

In 2008, DPTG started using GYMCL's engines in several of its buses and found that these buses outperformed other buses in their fleet running on other engines. DPTG attributed the difference to the reliability, fuel economy and adaptability of GYMCL's engines. GYMCL's excellent after-market service and ready availability of parts also played a part in DPTG's decision to switch to GYMCL's engines.

DPTG's buses are in continuous operation to provide reliable mass transportation in Dalian, Liaoning Provincein North-East China. DPTG's buses range from 10 - 12 meters and typically travel routes from between 300 - 3,000 kilometers. DPTG specially highlighted GYMCL's YC6M and the YC6MK engines for its superior power and fuel efficiency especially when used in mountainous terrain. The YC6M engine is a 10-liter, 6-cylinder in-line engine and the YC6MK is an upgraded YC6M model using newly developed 6K technology. The YC6MK engine has a 10.34-liter capacity and its main applications are in the heavy-duty truck, coach and bus market as well as in heavy construction machinery.

Weng Ming Hoh, President of China Yuchai, commented, "We are pleased that our heavy-duty engines continue to dominate the Chinese bus market. The YC6MK has become our new flagship engine targeting the heavy-duty truck, coach and over 12 meter bus markets. We are actively working with our original equipment manufacturers to increase visibility and acceptance of our YC6MK engines so as to further expand our market share in this important segment."

SINGAPORE, Aug. 5, 2013 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that an interim cash dividend of US$0.10 per ordinary share for the financial year 2013 has been declared by its Board of Directors. The interim cash dividend will be paid on August 26, 2013 to shareholders of record as of the close of business on August 16, 2013.

Second Quarter of 2013 Financial Results

• Net revenue was RMB 4.25 billion (US$ 688.1 million) compared with RMB 3.43 billion in the second quarter of 2012;
• Gross profit was RMB 855.2 million (US$ 138.4 million), with a gross margin of 20.1% compared with 19.7% in the second quarter of 2012;
• Operating profit was RMB 333.8 million (US$ 54.0 million) compared with RMB 210.1 million in the same quarter a year ago;
• Net earnings attributable to China Yuchai's shareholders were RMB 166.3 million (US$ 26.9 million) compared with RMB 67.1 million in the second quarter of 2012;
• Earnings per share were RMB 4.46 (US$ 0.72) compared with RMB 1.80 for the same quarter in 2012

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We are pleased to report a good quarter with growth in net revenue and operating profit. We continued to expand our market share and maintained our leadership in the world's largest commercial vehicle market. Our natural gas engines continue to gain market acceptance as our gas combustion technology helped generate strong fuel conservation with reduced emissions. In the first six months of this year, we sold approximately 13,000 natural gas engines, representing a 92% increase year-on-year. We continue to expand on our strategy of producing world-class engines through superior research and development combined with manufacturing excellence."

"We rewarded shareholders with a cash dividend of US$ 0.80 per share on July 10, 2013 for financial year 2012 and have just announced an interim cash dividend of US$ 0.10 per share for financial year 2013. However, we remain cautious as we enter the second half of 2013 in view of the uncertainty over China's economy. Notwithstanding, we continue to strive to maintain our market leadership in the Chinese engine industry," Mr. Hoh concluded.

SINGAPORE, June 17, 2013 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that a dividend of US$0.40 per ordinary share and a special dividend ofUS$0.40 per ordinary share for the year ended December 31, 2012 has been declared by its Board of Directors. The cash dividend will be paid on July 10, 2013 to shareholders of record as of the close of business on June 28, 2013.

SINGAPORE, June 4, 2013 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") and GYMCL's joint venture company,Y&C Engine Co., Ltd. ("Y&C Power"), has entered into a Framework Agreement with Baotou Bei Ben Heavy Duty Truck Co., Ltd. (" Bei Ben "), and Inner Mongolia First Machinery Group Co., Ltd. ("Yiji Group"), to form a new joint venture company ("JV Company"), to be located in Baotou, Inner Mongolia. The JV Company will have a registered capital of RMB 600 million.

The new JV Company will focus on the production of GYMCL's diesel and gas engine models YC6A, YC6L, YC6MK and Y&C Power's advanced diesel and gas engine model YC6K to meet the needs of Bei Ben's heavy-duty and medium-duty trucks and buses. GYMCL's service network and the repair and maintenance centres of Bei Ben will provide after-sales service for all engines sold by the JV Company. The annual production capacity of the JV Company is estimated to reach 100,000 units, subject to the prevailing market conditions.

Y&C Power is the joint venture company formed in 2009 between GYMCL, China International Marine Containers Containers Group Ltd and Chery Automobile Co., Ltd to produce the YC6K diesel engine.

GYMCL and Y&C Power will together hold 50% of the JV Company with Bei Ben and the Yiji Group holding the other 50%. Bei Ben , one of the top five truck manufacturers in China, and the Yiji Group are subsidiaries of China North Industries Group Corporation ("Norinco"). Norinco is one of China's 500 largest companies principally engaged in the manufacture and production of vehicles and equipment.

SINGAPORE, May 30, 2013 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") further to the receipt of approval from China's National Association of Financial Market Institutional Investors ("NAFMII") for the issuance of Rmb denominated 3-year unsecured medium-term notes ("Notes") amounting to Rmb 1.6 billion had, on May 28, 2013 issued the first tranche of the Notes amounting toRmb 1 billion. The par value and issue price of each Note is Rmb 100. The fixed annual interest payable on the Notes is 4.69% which is the rate as of May 30, 2013. The maturity date of the Notes is May 30, 2016.

Subscription to and trading of the Notes is only available in China to institutional investors of China's National Inter-bank Bond Market. The first tranche of the Notes was underwritten by China CITIC Bank Corporation Limited. The proceeds from the issuance of the Notes are to be used by GYMCL to repay bank loans and for working capital purposes. It is believed that the issuance of the Notes is a cost-effective option of raising capital given that China's benchmark one-year lending rate is at 6%.

This press release does not constitute an offer of securities for sale in the United States, and securities may not be offered or sold in the United States absent registration or an exemption from registration. The Company does not intend to register any portion of the Notes issue referred to above in the United States or to conduct a public offering in the United States. Any public offering of securities to be made in the United States will be by means of a prospectus that can be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements.

First Quarter 2013  Financial Results

• Net revenue for the first quarter of 2013 was RMB 3.84 billion (US$ 613.1 million) compared with RMB 3.68 billion in the first quarter of 2012. The increase in net sales was RMB 161.7 million, or 4.4% as compared with the same period in 2012.
• Gross profit was RMB 777.3 million (US$ 124.0 million) compared with RMB 779.4 million in the first quarter of 2012. Gross margin decreased to 20.2% in the first quarter of 2013 as compared with 21.2% a year ago.
• Net profit attributable to China Yuchai's shareholders was RMB 173.5 million (US$ 27.7 million), or earnings per share of RMB 4.66 (US$ 0.74), compared with RMB 167.9 million, or earnings per share of RMB 4.50 in the same quarter in 2012.

Mr. Benny H Goh, President of China Yuchai, commented, "We regained revenue growth, outperformed the Chinese diesel engine market and further expanded our market leadership. Industry data indicates that sales of diesel-powered commercial vehicles declined by 6.8% while our total unit sales remained steady year-over-year. Unit sales of our light-duty and heavy-duty engines rose in the first quarter of 2013 compared with a year ago. Our engine sales in the agriculture segment improved compared with sales in the first quarter last year. The increase in heavy-duty unit sales in the first quarter of 2013 reinforces our belief in the long-term potential of this market segment."

Mr Goh further commented, "We continue with our strategy to deliver a range of diverse high-quality, high-performance engines to better meet the needs of our customers and break into new markets. Our research and development programs continue to focus on upgrading our existing suite of products and developing new engine products. Our research capabilities and evolving product line of light-duty, medium-duty and heavy-duty engines continue to place us at the forefront of China's automotive market.

"The Chinese government is increasing its focus on combating air pollution and the National IV emission standards for diesel engines are targeted to be implemented throughout China on July 1, 2013. Notwithstanding, we remain guarded over growth in 2013 due to the continuing weak and uncertain recovery in the global economy."

SINGAPORE, May 9, 2013 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), has won two of the most prestigious auto part after-sales service awards in China.

At an award ceremony in April 2013 hosted by "Commercial Vehicle", a major industry publication in China, GYMCL won the premier "Gold Cup Award" as well as the "Annual Service Award". This annual award ceremony is the culmination of a large survey conducted over a few months, involving visits to commercial vehicle manufacturers, service providers and interviews with nearly 2,000 commercial vehicle drivers. The survey results provided a comprehensive understanding of China's commercial vehicle after-sales market in 2012 to improve transparency and help to standardize after-sales services. Representatives from commercial vehicle manufacturers, auto parts companies, and after-sales service providers from around China were in attendance at the award ceremony.

Benny H. Goh, president of China Yuchai, commented, "We have invested time and effort in developing the largest after-sales service network with over 2,800 locations across China and these two awards are an acknowledgement by our customers and peers of the high-quality of our after-sales service. Our investment in developing high-quality products, technology and advanced management systems has been recognized by our OEM customers, distributors and end user customers for their affordability, reliability and efficiency. We have been ranked No. 1 for our service standards for ten consecutive years, and we intend to further enhance our service network expertise in 2013 to be among the first with capabilities to service vehicles complying with new and more stringent emissions standards," concluded Mr. Goh

SINGAPORE, Oct. 19, 2012 /PRNewswire-FirstCall/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") has entered into a new joint venture with Guangxi Skylink Software Technology Co., Ltd ("Guangxi Skylink") to design, develop, manage and market an Electronic Operations Management Platform ("the Platform"). The Platform offers radio-frequency identification capabilities and will enable the owners and operators of vehicles who use the Platform to remotely monitor engine performance and pinpoint vehicle location through GPS tracking. The Platform will provide instant communication between GYMCL, vehicle operators using its diesel engines and the vehicle owners. In the future, other service providers, customers and vendors will be integrated onto the Platform to conduct marketing and conclude sales which will improve supply chain efficiency.

The new joint venture company ("JV Company") will be located in the High-tech Industrial Development Zone of Nanning, the capital of Guangxi Province. Guangxi Skylink will own 60% of the JV Company with GYMCL taking the other 40%.

GYMCL is responsible for the Platform's engine interfaces, development of technical parameters and analytical techniques, development of the system's terminal and managing its e-commerce capabilities and customer service. Skylink Communications is responsible for the Platform's hardware, servicing the operating system, government relations, securing the physical infrastructure for the joint venture, and running the daily operations of the Platform.         

Benny Goh, President of China Yuchai, commented, "The Platform is the next generation of technology enabling communications within the vast Chinese transportation industry. Through this platform, we can remotely monitor the location of our engines, supervise real-time engine performance and conduct analytical diagnostics on any engine within the system. We and our customers will be able to use the Platform to better manage our supply chain operations. In the future, vehicle operators will be able to receive new instructions via our internet connectivity and order equipment through our marketing channels enabling faster and more efficient service.

"A number of potential customers have expressed interest in trying out this new system and we expect trials to commence later this year. There is an immediate need for this communications platform for the many buses and trucks in China which make up the largest commercial vehicle market in the world," Mr. Goh concluded.

SINGAPORE, August 28, 2012 /PRNewswire-Asia-FirstCall/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that its key subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") has received approval from China's National Association of Financial Market Institutional Investors ("NAFMII") for the issuance of RMB-denominated, unsecured, short-term financing bonds ("Bonds") amounting to RMB 1 billion. The Bonds will be issued on August 28, 2012 and mature on August 29, 2013. The par value and issue price of each Bond is RMB 100.

The Bonds will bear a fixed annual interest rate of 4.45%. Subscription to and trading of the Bonds is only available in China to institutional investors of China's National Inter-bank Bond Market. The lead underwriter and bookrunner for the Bonds is the Industrial and Commercial Bank of China.

The proceeds from the issuance of the Bonds are to be used by GYMCL for working capital purposes. GYMCL decided on the Bonds issue as it is a cost effective option of raising capital in the current monetary market. China's benchmark one-year lending rate is currently at 6% and the prevailing discount rate for bank bills is higher than the fixed annual interest rate of the Bonds.

This Bonds issuance is in addition to the RMB 690 million short-term financing bonds issued by GYMCL on November 22, 2011. GYMCL will continue to review its financing strategy according to changes inChina's economic environment and monetary policy.

This press release does not constitute an offer of securities for sale in the United States, and securities may not be offered or sold in the United States absent registration or an exemption from registration. The Company does not intend to register any portion of the Bonds issue referred to above in the United States or to conduct a public offering in the United States. Any public offering of securities to be made inthe United States will be by means of a prospectus that can be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements.

Second Quarter 2012 Results

• Net revenue was RMB 3.43 billion (US$ 541.7 million) compared with RMB 4.02 billion in the second quarter of 2011;
• Gross profit was RMB 674.1 million (US$ 106.6 million), a 19.7% gross margin compared with RMB 771.1 million in the second quarter of 2011, a 19.2% gross margin;
• Operating profit was RMB 210.1 million (US$ 33.2 million) compared with RMB 290.2 million in the same quarter a year ago;
• Net earnings attributable to China Yuchai's shareholders were RMB 67.1 million (US$ 10.6 million) versus RMB 155.1 million in the same quarter in 2011;
• Earnings per share were RMB 1.80 (US$ 0.28) compared with RMB 4.16 (US$ 0.66) for the same period in 2011.

Mr. Benny H Goh, President of China Yuchai, commented, "Following a weak first quarter, the Chinese truck market continued to deteriorate and the heavy-duty truck sector experienced a further decline in the second quarter of 2012. The bus market remains a bright spot in the commercial vehicle market. As a leading player in the medium to large bus sector in China, we continued to benefit from higher bus sales. Our diversified product mix, once again, enabled us to defend our gross margin in the second quarter of 2012 and maintain a competitive edge despite the overall weak commercial vehicle market. We continued to increase sales in the natural gas engine sector and maintained our leadership in the on-road diesel engine market through our ongoing introduction of new products and closer collaboration with our OEM customers. We will continue to maintain a strong balance sheet in the midst of an uncertain market. We were able to improve cash-flow from operations due to our continual management of inventory and accounts receivables.

SINGAPORE, July 13, 2012 /PRNewswire-Asia-FirstCall/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today the inauguration of Yuchai Remanufacturing Services (Suzhou) Co., Ltd's ("Yuchai Remanufacturing") new permanent factory at Suzhou Industrial Park. The new factory will replace Yuchai Remanufacturing's operations at a temporary workshop located nearby.

Yuchai Remanufacturing is a joint venture company formed in 2010 between the Company's main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") and Caterpillar (China) Investment Co., Ltd. ("Caterpillar China"), a subsidiary of Caterpillar Inc. to provide remanufacturing services mainly for GYMCL's diesel engines and components. Yuchai Remanufacturing delivered its first remanufactured engine in September 2011. With phase one of the permanent plant commencing operations, approximately 14,000 square meters of space is now available to support Yuchai Remanufacturing's activities. The new plant is expected to reach full operational capacity in 2014 with approximately 400 employees.

Mr. Yan Ping, Chairman of the Board of Directors of GYMCL together with representatives from Caterpillar and members from the Working Committee of the Suzhou Industrial Park as well as from the Chinese Academy of Engineering attended the inauguration ceremony.

Mr. Benny H. Goh, President of China Yuchai, commented, "Moving into our new permanent facility sets the groundwork for us to reach our remanufacturing goals in the future. Through our sophisticated remanufacturing process, matured parts and components are transformed to become like-new products in terms of reliability, durability and performance which is a cost-effective solution for our customers. Our remanufacturing services will minimize raw material usage and waste during the remanufacturing process thereby enhancing our "green" environment agenda. We expect Yuchai Remanufacturing to become the leader in China for remanufactured engine parts."

SINGAPORE, July 5, 2012 /PRNewswire-Asia-FirstCall/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), has, based on unit sales in the first six months of 2012, maintained its leading position in the diesel engine industry in China.

Despite the recent slowdown in China's domestic truck market, GYMCL was able to arrest a decline in its market share of the diesel engine market with its comprehensive offerings, well-established products, and its extensive service network of over 2,800 service stations throughout China. GYMCL has established excellent relationships with key automotive manufacturers such as Dongfeng Motor, Beiqi Foton Motor and JAC Motor. GYMCL has extended its heavy-duty engine sales to mining applications and has become one of the leading engine suppliers for mining trucks. It is also ranked second in terms of engine sales to trucks which are used for engineering construction. GYMCL's goal is to become one of China's four largest heavy-duty engine providers by 2015.

GYMCL has five heavy-duty product offerings: YC6A, YC6G, YC6L, YC6MK and YC6K, with a displacement range of between 7.3 liters to 13 liters corresponding to a power range of between 280 and 550 horsepower. Notwithstanding that GYMCL entered the heavy-duty diesel engine market later than its competitors, its products have quickly gained a reputation for reliability, high performance, low emissions and low fuel consumption compared with other products. Most of these advantages result from GYMCL's advanced engine designs.

Mr. Benny H. Goh, President of China Yuchai, commented, "GYMCL's leadership in the diesel engine industry is the result of our strategic plan. We have the widest range of engines in China to meet the needs of a number of important engine markets which combined with industry-leading research and development capabilities, enable us to meet our customers' requirements. Our advanced heavy-duty engines will improve GYMCL's market share and we believe GYMCL is well-positioned to continue to lead the diesel engine industry in China."

SINGAPORE, May 22, 2012 /PRNewswire-Asia-FirstCall/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today changes to its joint venture entered into by its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") with Zhejiang Geely Holding Group Co., Ltd. ("Geely") and Zhejiang Yinlun Machinery Co, Ltd. ("Yinlun").

Pursuant to the Equity Joint Venture Agreement entered into between GYMCL, Geely and Yinlun, two joint venture companies were to be established for the development, production and sales of a proprietary diesel engine and its parts for passenger vehicles. Subsequently in 2008, Jining Yuchai Engine Company Limited ("Jining Yuchai") and Zhejiang Yuchai Sanli Engine Company Limited ("Zhejiang Yuchai") were established in Jining, Shandong Province and Tiantai, Zhejiang Province, respectively. The main product of the joint ventures was to be a 4D20 diesel engine and the technology for the new diesel engine was to be purchased from Geely subject to certain specified design technology standards being met. GYMCL was the controlling shareholder with 52% in both joint ventures with Geely and Yinlun holding 30% and 18% shareholding, respectively.

Further to discussions between GYMCL, Geely and Yinlun, in order to streamline the operations of both joint venture companies and to ensure that GYMCL's resources and costs are prudently allocated, a share swap agreement has been entered into such that GYMCL exits from Zhejiang Yuchai and focuses only on Jining Yuchai. The share swap involves GYMCL transferring its 52% shareholding in Zhejiang Yuchai to Yinlun, and Yinlun transferring its 18% shareholding in Jining Yuchai to GYMCL. Upon the completion of the share swap, GYMCL will hold a 70% shareholding in Jining Yuchai with Geely maintaining its 30% shareholding. The technology for the 4D20 diesel engine purchased from Geely will be entirely owned by Jining Yuchai. The share swap between GYMCL and Yinlun at historical cost, will result in a cash payment of Rmb 25 million from Yinlun to GYMCL.

As a result of the share swap, GYMCL through Jining Yuchai will concentrate on continuing the development and production of the 4D20 diesel engine which is central to the joint venture, and Zhejiang Yuchai's focus will be on manufacturing crankshafts. As earlier reported, the second- and third-generation prototype 4D20 diesel engines are currently undergoing developmental tests which are scheduled to be completed at the end of 2012.

First Quarter 2012 Results

• Net revenue was RMB 3.7 billion (US$ 585.0 million) compared with RMB 4.2 billion in the first quarter of 2011;
• Gross profit was RMB 779.4 million (US$ 123.8 million), a 21.2% gross margin compared with RMB 944.1 million in the first quarter of 2011, a 22.3% gross margin;
• Operating profit was RMB 347.2 million (US$ 55.2 million) compared with RMB 428.5 million in the same quarter a year ago;
• Net earnings attributable to China Yuchai's shareholders were RMB 167.9 million (US$ 26.7 million) versus RMB 230.5 million in the same quarter in 2011;
• Earnings per share were RMB 4.50 (US$ 0.72) compared with RMB 6.18 for the same period in 2011.

Mr. Benny H Goh, President of China Yuchai, commented, "The weak market conditions continued into the first quarter of 2012 and were exacerbated by higher fuel costs as well as sluggish demand from the OEMs despite a decrease in their inventory levels. The Chinese truck and diesel engine markets continue to stagnate as construction activity across China slowed down. While we are still encountering strong headwinds due to the continued softening in the commercial vehicle market, we are attempting to mitigate the impact through our diversification strategy of being in different industries and offering diesel engines of different sizes. The bright spot in the current market is the bus segment which has continued to show growth. Our development of new products such as our high horse power marine and power generator engines and suite of natural gas engines will help us when the market recovers. "

SINGAPORE, March 6, 2012 /PRNewswire-Asia-FirstCall/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") has inaugurated a new project to develop and produce a full portfolio of natural gas powered engines to complement its existing suite of diesel engines. Customers will be offered a greater choice of GYMCL's engines to meet their needs, especially in the large bus, mid- to heavy-duty truck, power generator and marine engine markets.

In recent years, the policies of the Chinese government have encouraged energy conservation and emissions reduction. China's 12th Five-Year Plan targets natural gas to make up 8.3% of the primary energy mix by 2015, which represents approximately 9.2 trillion cubic feet of gas, or more than three times the consumption in 2008. The major oil companies, China National Petroleum Corporation (CNPC), China Petrochemical Corporation (SINOPEC) and China National Offshore Oil Corporation (CNOOC) are actively building pipelines and natural gas facilities to increase the use of natural gas. These firms currently operate five gas product facilities, have 10 plants under construction with another five gas facilities in the planning stages. Two pipelines linking western to eastern China are in operation with a third under construction which will provide approximately 72 billion cubic meters of natural gas into eastern China.

The 12th Five-Year Plan also calls for between 10%-20% of municipal buses and large trucks to be powered by gas by 2020. In the gas-rich areas of China, there are now 101 liquefied natural gas (LNG) filling stations with plans to expand to 380 stations by the end of 2012. In 2009, when the development of new alternative energy diesel engines by GYMCL was announced, sales of high-quality and reliable gas powered engines rose 287% between 2009 and 2011.

Fourth Quarter 2011 Results

• Net revenue was RMB 3.7 billion (US$ 594.6 million) compared with RMB 3.8 billion in the fourth quarter of 2010;
• Gross profit was RMB 1.0 billion (US$ 164.4 million), a 27.7% gross margin compared with RMB 1.3 billion in the fourth quarter of 2010, a 34.8% gross margin;
• Operating profit was RMB 636.4 million (US$ 101.0 million) compared with RMB 793.9 million in the same quarter a year ago;
• Net earnings attributable to China Yuchai's shareholders was RMB 342.6 million (US$ 54.4 million) versus RMB 448.9 million in the same quarter in 2010;
• Earnings per share was RMB 9.19 (US$ 1.46) compared with RMB 12.05 in the same period in 2010.

Mr. Benny H Goh, President of China Yuchai, commented, "We are pleased with our performance in the difficult environment in China in 2011. While challenges were experienced in certain segments such as the heavy-duty diesel engine sector, our broad and diverse portfolio of diesel engines allowed us to leverage on our strength in the light-duty engine segment. In 2011, we also made progress into the market for off-road applications. Our off-road applications, noticeably in the engineering machinery, agricultural equipment and marine sector, although making up a small segment of sales in 2011, showed promising growth."

SINGAPORE, Jan. 19, 2012 /PRNewswire-Asia-FirstCall/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its wholly owned subsidiary Venture Lewis Limited ("VLL") has entered into a loan agreement with HL Global Enterprises Limited ("HLGE") ("2012 Loan Agreement") for the extension of a loan of S$83,000,000 ("Loan") to HLGE. The original amount of the Loan was S$93,000,000 which was granted to HLGE in February 2009 to refinance the zero coupon, unsecured, non-convertible bonds ("Bonds") issued by HLGE in 2006 and which matured on July 3, 2009 ("Maturity Date").  However, the principal amount was reduced to S$83,000,000 pursuant to a partial repayment of S$10,000,000 made by HLGE in February 2011. The Company through another wholly owned subsidiary, Grace Star Services Ltd., owns 48.12% of the issued ordinary shares of HLGE.

The unsecured Loan has, pursuant to the terms of the 2012 Loan Agreement, been extended for one year from July 2012 and is due for repayment in July 2013. Under the terms of the 2012 Loan Agreement, the interest payable is the aggregate of a margin of 1.50% per annum, a reduction from 1.75% per annum from the previous loan extension and the 12-month Singapore Interbank Offer Rate expressed in a percentage rate fixed by the Association of Banks in Singapore for Singapore Dollars as of January 18, 2012 which was 0.584%. In the event the interest rate charged on external funds utilized by China Yuchai for their investment in HLGE is increased, the Company has a right to negotiate with HLGE with a view to agreeing on an increase in the interest rate payable by HLGE under the 2012 Loan Agreement subject to compliance with certain regulatory requirements.  A negative pledge undertaking against any disposal or creation of security over substantially all of HLGE's assets without VLL's consent is also included.

The Company's Board of Directors approved the Loan extension at a reduced interest rate after taking into account (i) the continued challenges facing HLGE's hospitality operations in China from increasing competition and the uncertain global economic outlook impacting on its results; (ii) difficulties faced by HLGE in obtaining financing from financial institutions, (iii) the need to provide continuing support to HLGE to allow it sufficient time to successfully dispose of its non-core and non-performing assets in an orderly manner to repay the Loan, and (iv) potential acquisition opportunities being explored by HLGE to grow its earnings base and improve its cash flow. This transaction has also been reviewed and approved by the Company's audit committee who has determined that the terms of the Loan extension are fair and reasonable and are not prejudicial to the interests of the Company's shareholders. In coming to its decision, in addition to the various factors set out in this paragraph, the audit committee also considered the costs and sources of funding for the Loan, reduction in interest income to the Company from a corresponding reduction in the interest rate charged, and the recoverability of the Loan based on a valuation of HLGE's assets.

SINGAPORE, January 5, 2012 /PRNewswire-Asia-FirstCall/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that Mr. Yuwei Zhong, a Deputy General Manager of its major operating subsidiary, Guangxi Yuchai Machinery Company Limited, ("GYMCL"), had at GYMCL's 2012 Sales and Marketing Conference, shared that GYMCL's target in 2012 was to sell 568,000 diesel engine units. This would represent an approximate 9.1% increase from expected 2011 unit sales.

Thrid Quarter 2011 Results

SINGAPORE, July 22, 2011 /PRNewswire-Asia-FirstCall/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that further to its announcement on March 10, 2011, its key subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL") will be issuing the second tranche of its RMB-denominated unsecured short-term financing bonds ("Bonds") amounting to RMB 700 million on July 22, 2011. The second tranche of the Bonds will mature on July 22, 2012. GYMCL issued the first tranche of the Bonds amounting to RMB 1 billion on March 9, 2011. The par value and issue price of each Bond is RMB 100.

SINGAPORE, July 4, 2011 /PRNewswire-Asia-FirstCall/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), announced today that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), recently introduced China's first prototype diesel engine compliant with Euro VI emission standards. As China's first Euro VI-compliant automotive diesel engine, GYMCL's heavy-duty model YC6L-60 diesel engine has set another milestone in its history of technological achievement.

At a press conference hosted by GYMCL at its offices in Yulin City, Guangxi Province, the National Passenger Car Quality Supervision and Inspection Center (Tianjin Automotive Test Center) released the test results of the YC6L-60 engine which was jointly developed over a four-year period, between GYMCL and researchers from Tianjin University's National Key Laboratory of engine combustion. The results indicate that the nitrogen oxide emissions and particulate matter emissions of the YC6L-60 were well below the Euro VI emission requirements hence meeting the Euro VI emission standard. There are three key features of GYMCL's YC6L-60 engine: (a) a proprietary low-temperature combustion technology which reduces the fuel injection pressure requirement hence improving the life span of the fuel injection system and other core parts of the engine; (b) the use of medium-intensity cooled exhaust gas recirculation (EGR) technology resulting in a clean and economic combustion process; and (c) the use of selective catalytic reduction (SCR) technology combined with diesel particulate filter (DPF) regeneration capability will reduce urea consumption during the after-treatment process resulting in cost savings to end-users.

Since its introduction in the European Union (EU) in 2009, the Euro VI emission standard is, by far, the most stringent emission standard in the world. As the EU has announced plans to implement the Euro VI emission standards beginning in 2013, most European engine producers have been actively developing their products accordingly. The introduction of China's first Euro VI-compliant diesel engine by GYMCL demonstrates its world-class research and development capabilities.  

Our primary sources of cash are funds from operations generated by Yuchai, as well as debt financing obtained by us. Our operations generated positive net cash flows in 2008, 2009 and 2010. Our primary cash requirements are for working capital, capital expenditures to complete the expansion of production capacity and funding our business expansion and diversification plan. We believe that our sources of liquidity are sufficient for our operational requirements over the next twelve months from the date of this Annual Report. However, under the current market conditions there can be no assurance that our business activity will be maintained at the expected level to generate the anticipated cash flows from operating activities.

As our business continues to grow, we will also require additional funds for increased working capital requirements and to finance increased trade accounts receivable. We expect to fund our capital expenditures and working capital requirements primarily from funds from operations generated by Yuchai and, to the extent that is insufficient, from bank loans and other financing activities by Yuchai and us.

First Quarter Results:

• Net revenues for the first quarter of 2011 were RMB 4.2 billion (US$645.5 million) compared with RMB 5.1 billion (US$773.2 million) in the first quarter of 2010
• Gross profit was RMB 944.1 million (US$144.0 million) in the first quarter of 2011, compared with RMB 1.0 billion (US$156.4 million) in the first quarter of 2010
• Net income attributable to China Yuchai shareholders in the first quarter of 2011 was RMB 230.5 million (US$35.2 million), or earnings per share of RMB 6.18 (US$0.94), compared with RMB 271.8 million (US$41.5 million), or earnings per share of RMB 7.29 (US$1.11), in the first quarter of 2010.

Mr. Boo Guan Saw, President of China Yuchai, commented, "Engine sales in the first quarter of 2011 have improved compared to the fourth quarter of 2010, but unit sales were down year-over-year. The higher inventory in the supply chain during the first quarter of 2011, combined with higher fuel prices and tightening credit resulted in slower sales in the first quarter. Although we are experiencing a large improvement in off-highway application engine sales, which rose 45% in the first quarter compared with the same quarter a year ago, this improvement did not fully offset the drop in sales of automotive engines. Moving forward, we will be working to continue improving off-highway engine and heavy-duty engine sales, which will result in better margins. While we penetrate the higher-margin, heavy-duty diesel engine market, we intend to maintain our light-duty market presence by focusing on the more profitable models and improving competitiveness by reducing product costs and increasing unit sales. In March 2011, we began to see some recovery in engine sales compared to the first two months of 2011 when sales in March increased 35% over February as a result of improved automotive sales."

Fourth Quarter Results:

• Net revenue was RMB 4.0 billion (US$ 606.5 million) compared with RMB 3.2 billion (US$ 490.6 million) in the fourth quarter of 2009;
• Gross profit increased to RMB 1.3 billion (US$ 200.7 million) from RMB 781.2 million (US$ 118.0 million) in the fourth quarter of 2009;
• Operating margin increased to 20.3% from 10.9% in the fourth quarter of 2009;
• Total net profit attributable to China Yuchai's shareholders was RMB 461.7 million (US$ 69.7 million), or earnings per share of RMB 12.39 (US$ 1.87), compared with RMB 195.6 million (US$ 29.5 million), or earnings per share of RMB 5.25 (US$ 0.79) in the fourth quarter of 2009.

"Our high-quality products, innovative new engines developed by our leading research and development programs, and excellent customer service provide a competitive advantage that will strengthen our leadership position in the large Chinese automotive market," Mr. Saw concluded.

Company unable to report earnings as expected:

• Net revenues for the fourth quarter of 2010 were RMB 4.0 billion (US$ 606.5 million) compared with RMB 3.2 billion (US$ 490.6 million) in the fourth quarter of 2009.

The Company will report the detailed unaudited consolidated financial results for the fourth quarter and full year 2010 as soon as they are available which will be followed by an earnings call for the investment community.

SINGAPORE, Jan. 31, 2011 /PRNewswire-Asia-FirstCall/ -- China Yuchai International Limited, announced today that its wholly-owned subsidiary Venture Lewis Limited has entered into a loan agreement with HL Global Enterprises Limited to extend the loan of S$93,000,000 originally granted to HLGE in February 2009 to refinance the zero coupon, unsecured, non-convertible bonds issued by HLGE in 2006 and which matured on July 3, 2009. This Loan was due to be repaid in July 2010 but was extended for one year pursuant to a loan agreement entered into in February 2010.

The financial highlights for the third quarter of 2010 are:

• Net revenue was RMB 3.3 billion (US$ 497.6 million) compared with RMB 3.5 billion (US$ 524.0 million) in the third quarter of 2009;

• The gross margin increased to 23.1% from 19.9% in the third quarter of 2009;

• Operating margin increased to 10.7% from 7.6% in the third quarter of 2009;

• Total net profit attributable to China Yuchai's shareholders was RMB 217.5 million (US$ 32.5 million), or earnings per share of RMB 5.84 (US$ 0.87), compared with RMB 160.2 million (US$ 23.9 million), or earnings per share of RMB 4.30 (US$ 0.64) in the third quarter of 2009.

Mr. Boo Guan Saw, President of China Yuchai, commented, "We are encouraged by our strong third quarter results and the significant margin expansion due to the successful transition in our product mix. After three years' thorough preparation, our heavy-duty engines have begun to gain traction in China's heavy-duty market. While our award-winning hybrid engines continue to enhance our brand equity and market leadership in the Chinese bus market, our heavy-duty YC6K product line should propel our entry into the higher-barrier heavy-duty truck market. We continue to invest in R & D and in-sourcing facilities to maintain our technology and production leadership in China. With the CIMC-Chery joint venture expected to come to production at the end of 2010, we remain optimistic over increasing our market share in the heavy-duty engine market in 2011."

Mr. Boo Guan Saw, President of China Yuchai, commented, "Our market share in the more profitable heavy and medium-duty engines has been increasing in the first half of 2010 compared with a year ago. We are introducing new engine models and increasing our production capacity of heavy-duty engines to improve our competitive position in this important segment. Pricing in the heavy-duty market remains favourable. We also see good opportunities in the industrial, marine and power generation markets to expand our sales and market position in both the domestic and international markets especially with our new engines. We have made great strides in enhancing the efficiency of our new automated foundry to increase production of key components and reduce costs. Also, production capacity at our new assembly facility at Xiamen has reached 50,000 units annually to supply to our customers in South-Central China."

"Combining our increased in-sourcing capabilities through the new foundry and assembly plant, with the expansion of our product lines through our 3 strategic joint ventures, CIMC-Chery, Caterpillar and Geely, China Yuchai is in a better position to maintain its leadership position in China's diesel engine industry. The CIMC-Chery joint venture is expected to commence production of its heavy-duty YC6K diesel engines at the end of 2010 which will add capacity to our heavy-duty engine volume. We have invested approximately RMB 140 million to double production of our 6L and 6M heavy-duty diesel engines from 62,000 units to a forecasted 120,000 units in early 2011. The remanufacturing joint venture with Caterpillar is expected to begin operations at Suzhou Industrial Park, Jiangsu Province in 2011 and the joint venture with Geely is expected to yield the first-generation prototype of the 4D20-2L diesel engine by the end of 2010. As urbanization continues in China with ongoing infrastructure investment and anticipated acceleration in public housing construction, trucks and buses will play an important role in the demand for transportation. According to the People's Bank of China, China's economy grew 10.3% in the second quarter of 2010 compared with 11.9% in the first quarter of 2010 due to the effects of the Chinese government's credit tightening policy. Notwithstanding that 2010 is expected to continue to be a growth year in China, China's slowing growth momentum could have an impact on our operating performance in the subsequent quarters of 2010 as compared with the first six months of 2010," Mr. Saw concluded.

Share holders take action to recommend changes to China Yuchai management positions.

Link to letter.

Source: PR Newswire (July 9, 2009 - 6:54 AM EDT)