SINGAPORE, Feb. 22,
2023 /PRNewswire/ -- China Yuchai International
Limited (NYSE: CYD) ("China Yuchai" or the "Company") wishes to
announce that the Board of Directors of the Company has approved
the appointment of Mr. Wong Hong Wai
as a Director of China Yuchai with effect from March 1, 2023.
Mr. Wong joins the Board with over 35 years of working
experience in China, Germany, Japan, Singapore, Switzerland and the United States. He is
presently an Innovation Advisor with Innovation Partner for Impact,
a subsidiary of Enterprise Singapore, and an Associate Faculty
Member with the Singapore Institute of Technology. Prior to
this, Mr. Wong was with General Motors ("GM") for 29 years and has
extensive experiences in areas such as M&A, new business
development, strategic alliance management, sales/marketing,
strategic risk management, business strategy, product portfolio
planning, global procurement, and business process re-engineering.
Besides operational roles, he also held governance responsibilities
as a board member in several GM China group companies and was
the shareholder representative of GM's joint venture investment
holding in Hong Kong.
Additionally, he was the Risk Officer for GM China and a member of
GM's Global Risk Advisory Council which had strategic risk
management oversight for all of GM's global businesses.
Prior to GM, Mr. Wong was with the Singapore Economic
Development Board, responsible for investment marketing and
development of several industry clusters such as aerospace, marine
and oilfield equipment, process engineering and automotive
component manufacturing.
Mr. Wong is a member of the Singapore Institute of Directors and
a Fellow of the Singapore Institute of Arbitrators. He holds a
Bachelor of Engineering (Production and Industrial Engineering)
degree from the Ulm University of Applied
Sciences in Germany and a
Master of Business Administration from the National University of Singapore. He has also
completed an Executive Program at the Stephen M. Ross School of
Business at the University of Michigan,
U.S.A.
The Board of Directors welcomes Mr. Wong and believes his
extensive business experience and technical expertise will
contribute to the future success of the Company. With the new
appointment, the Board now comprises 10 members of which three are
independent directors.
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: +1-212-521-4050
Email: cyd@bluefocus.com
View original
content:https://www.prnewswire.com/news-releases/china-yuchai-appoints-new-director-301752514.html
SOURCE China Yuchai International Limited