Results of Annual General Meeting Held on July 17, 2020

Rhea-AI Summary

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

Positive

• All resolutions from the AGM were passed, indicating shareholder support.
• GYMCL is recognized as a leading manufacturer of engines in China.
• In 2019, GYMCL sold 376,148 engines, reflecting strong market demand.

Negative

• Ongoing risks associated with COVID-19 could adversely affect business operations and financial condition.

SINGAPORE, July 18, 2020 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), wishes to announce that all the resolutions as set out in its Notice of Annual General Meeting dated June 16, 2020 were duly passed at its virtual Annual General Meeting held on July 17, 2020.

About China Yuchai International

China Yuchai International Limited, through its subsidiary, 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 2019, GYMCL sold 376,148 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

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SOURCE China Yuchai International Limited

FAQ

What were the results of the China Yuchai AGM held on July 17, 2020?

All resolutions in the Notice of Annual General Meeting were duly passed.

What is China Yuchai's primary business focus?

China Yuchai manufactures and sells light, medium, and heavy-duty engines for various applications.

How many engines did China Yuchai sell in 2019?

In 2019, China Yuchai's subsidiary sold 376,148 engines.

What risks does China Yuchai face due to COVID-19?

The COVID-19 pandemic poses risks that may materially affect business operations and financial performance.