SINGAPORE, Jan. 5, 2023
/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's wholly owned subsidiary, Guangxi
Yuchai Deyou Engine Systems Co., Ltd., and its 50% owned
subsidiary, MTU Yuchai Power Company Limited, have been transferred
to GYMCL's wholly owned Guangxi Yuchai Marine and Genset Power Co.,
Ltd. subsidiary.
Guangxi Yuchai Deyou Engine Systems Co., Ltd., specializes in
sales and marketing marine and power generation units. MTU
Yuchai Power Company Limited, a 50-50 joint venture between GYMCL
and Rolls-Royce Solutions GmbH (formerly known as MTU
Friedrichshafen GmbH), mainly produces the high-end, high-speed,
high-power MTU Series 4000 engines which are power generators with
marine applications.
This restructuring consolidates GYMCL's marine and power genset
operations into a larger operating unit with a more comprehensive
product line and service portfolio.
About China Yuchai International
China Yuchai International Limited, through its subsidiary,
Guangxi Yuchai Machinery Company Limited ("GYMCL"), engages in the
manufacture, assembly, and sale of a wide variety of light-,
medium- and heavy-duty engines for trucks, buses, passenger
vehicles, construction equipment, marine and agriculture
applications in China. GYMCL also produces diesel power
generators. The engines produced by GYMCL range from diesel
to natural gas and hybrid engines. Through its regional sales
offices and authorized customer service centers, GYMCL distributes
its engines directly to auto OEMs and retailers and provides
maintenance and retrofitting services throughout China.
Founded in 1951, GYMCL has established a reputable brand name,
strong research and development team and significant market share
in China with high-quality
products and reliable after-sales support. In 2021, GYMCL
sold 456,791 engines and is recognized as a leading manufacturer
and distributor of engines in China. For more information, please visit
http://www.cyilimited.com.
Safe Harbor Statement:
This news release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. The words "believe", "expect", "anticipate", "project",
"targets", "optimistic", "confident that", "continue to",
"predict", "intend", "aim", "will" or similar expressions are
intended to identify forward-looking statements. All statements
other than statements of historical fact are statements that may be
deemed forward-looking statements. These forward-looking statements
including, but not limited to, statements concerning China Yuchai's
and the joint venture's operations, financial performance and
condition are based on current expectations, beliefs and
assumptions which are subject to change at any time. China Yuchai
cautions that these statements by their nature involve risks and
uncertainties, and actual results may differ materially depending
on a variety of important factors such as government and stock
exchange regulations, competition, political, economic and social
conditions around the world and in China including those discussed in
China Yuchai's Form 20-Fs under
the headings "Risk Factors", "Results of Operations" and "Business
Overview" and other reports filed with the Securities and Exchange
Commission from time to time. Among others, if the COVID-19
pandemic is not effectively and timely controlled, our business
operations and financial condition may be materially and adversely
affected due to a deteriorating market for automotive sales, an
economic slowdown in China and
abroad, a potential weakening of the financial condition of our
customers, or other factors that we cannot foresee. All
forward-looking statements are applicable only as of the date it is
made and China Yuchai specifically disclaims any obligation to
maintain or update the forward-looking information, whether of the
nature contained in this release or otherwise, in the future.
For more information:
Investor Relations
Kevin Theiss
Tel: +1-212-510-8922
Email: cyd@bluefocus.com
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SOURCE China Yuchai International Limited