China Yuchai Restructures Marine and Power Genset Subsidiaries
China Yuchai International Limited (NYSE: CYD) announced the transfer of its subsidiaries, Guangxi Yuchai Deyou Engine Systems Co., Ltd. and MTU Yuchai Power Company Limited, to its wholly owned subsidiary, Guangxi Yuchai Marine and Genset Power Co., Ltd. This restructuring aims to consolidate marine and power genset operations, enhancing product lines and service offerings. GYMCL, the operating subsidiary, is a leading engine manufacturer in China, selling 456,791 engines in 2021 and serving various sectors including automotive and marine applications.
- Restructuring aims to enhance operational efficiency and market competitiveness.
- Consolidation into a larger operating unit may lead to a more comprehensive product line.
- Potential risks associated with market conditions, including competition and economic factors.
- Forward-looking statements indicate uncertainty about business performance amid external risks.
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
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
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