The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. China Yuchai (CYD) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Auto-Tires-Trucks peers, we might be able to answer that question.China Yuchai is one of 103 individual stocks in the Auto-Tires-Tru ...

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Core Viewpoint - China Yuchai International Limited has announced the implementation of an equity incentive plan for its subsidiary, Guangxi SKY Cloud Technology Co., Ltd., aimed at motivating employees and enhancing long-term growth [1][5]. Group 1: Equity Plan Details - The equity incentive plan involves an increase in the registered capital of Sky Cloud by RMB 1.25 million, representing a 20% interest in the enlarged registered capital [2]. - The Sky Cloud Interest will be granted in two phases, with Phase One amounting to RMB 1,080,002 at a subscription price of RMB 1 per RMB 1 registered capital [3]. - The remaining interest will be granted in Phase Two by June 30, 2027, at a subscription price of 80% of the latest audited net assets value or RMB 1, whichever is higher [3]. Group 2: Participants and Structure - Participants in the equity plan include selected employees, directors, and senior officers of Sky Cloud, who will hold interests through separate partnership vehicles [4]. - The interests will be held in different proportions according to the terms of the equity plan, which includes various lock-up restrictions [4]. Group 3: Company Overview - China Yuchai, through its subsidiary Yuchai, is a leading powertrain solution provider in China, specializing in a wide range of engines for various applications [7]. - In 2024, Yuchai sold 356,586 engines, reinforcing its position in the market [7].

Company Overview - China Yuchai International Limited (NYSE: CYD) is a significant manufacturer of diesel and natural gas engines, primarily serving commercial vehicles, industrial equipment, and power generation sectors [1]. Industry Position - The company has maintained a strong market presence and continues to hold a firm grip on its industry segment, indicating stability and potential for growth in the engine manufacturing market [1]. Research Principles - Grassroots Trading emphasizes providing objective and unbiased research, focusing on small- to mid-cap companies while also identifying opportunities in larger companies, which reflects a comprehensive approach to equity market analysis [1].

China Yuchai International Limited (NYSE:CYD) Q4 2024 Earnings Conference Call February 25, 2025 8:00 AM ET Company Participants Kevin Theiss - Head, Investor Relations Weng Ming Hoh - President Choon Sen Loo - Chief Financial Officer Conference Call Participants Yiming Liu - Haitong Securities Pengyu Bai - Pinpoint Asset Management Andy Li - Daiwa Operator Good day, and thank you for standing by. Welcome to China Yuchai International Limited Second Half and Full Year 2024 Full Financial Results Conference ...

Core Viewpoint - China Yuchai International Limited reported its unaudited consolidated financial results for the second half of 2024 and the fiscal year 2024, highlighting a mixed performance with increased engine sales but a decline in operating profit and net profit compared to the previous year [1][2]. Financial Highlights for 2H 2024 - Revenue for 2H 2024 was RMB 8.8 billion (US$ 1.2 billion), slightly down from RMB 8.9 billion in 2H 2023 [3]. - The total number of engines sold increased by 10.9% to 163,843 units compared to 147,700 units in 2H 2023, driven by higher sales in truck, bus, industrial, marine, and power generation markets [4]. - Gross profit rose by 14.3% to RMB 1.4 billion (US$ 195.7 million), with a gross margin of 15.9% compared to 13.9% in 2H 2023 [5]. - Other operating income increased by 31.2% to RMB 401.5 million (US$ 55.9 million) due to higher government grants and technology licensing fees [6]. - R&D expenses increased by 25.6% to RMB 591.1 million (US$ 82.2 million), representing 8.2% of revenue [7]. - SG&A expenses rose by 25.1% to RMB 1.1 billion (US$ 147.0 million), accounting for 12.0% of revenue [8]. - Operating profit declined to RMB 160.1 million (US$ 22.3 million) with an operating margin of 1.8% [9]. - Net profit attributable to equity holders was RMB 82.7 million (US$ 11.5 million), down from RMB 107.1 million in 2H 2023 [11][12]. Financial Highlights for FY 2024 - Revenue for FY 2024 was RMB 19.1 billion (US$ 2.7 billion), an increase from RMB 18.0 billion in FY 2023 [14]. - The total number of engines sold increased by 13.7% to 356,586 units compared to 313,493 units in FY 2023 [15]. - Gross profit increased by 10.8% to RMB 2.8 billion (US$ 392.1 million), with a gross margin of 14.7% [16]. - Other operating income rose by 30.1% to RMB 575.7 million (US$ 80.1 million) [17]. - R&D expenses increased by 12.3% to RMB 984.7 million (US$ 137.0 million), representing 6.2% of revenue [18]. - SG&A expenses were RMB 1.8 billion (US$ 252.1 million), representing 9.5% of revenue [19]. - Operating profit was RMB 597.0 million (US$ 83.0 million), down from RMB 609.4 million in FY 2023 [19]. - Net profit attributable to equity holders was RMB 323.1 million (US$ 44.9 million), compared to RMB 285.5 million in FY 2023 [22]. - Basic and diluted earnings per share increased by 17.5% to RMB 8.21 (US$ 1.14) from RMB 6.99 in FY 2023 [22]. Balance Sheet Highlights - As of December 31, 2024, cash and bank balances were RMB 6.4 billion (US$ 895.0 million) compared to RMB 6.0 billion at the end of FY 2023 [26]. - Trade and bills receivables were RMB 8.8 billion (US$ 1.2 billion) compared to RMB 7.8 billion at the end of FY 2023 [26]. - Inventories were RMB 4.7 billion (US$ 647.5 million) compared to RMB 4.6 billion at the end of FY 2023 [26]. - Trade and bills payables were RMB 8.5 billion (US$ 1.2 billion) compared to RMB 7.6 billion at the end of FY 2023 [26]. - Short-term and long-term loans and borrowings remained stable at RMB 2.5 billion (US$ 349.1 million) [26]. Management Commentary - The President of China Yuchai highlighted profitable sales growth and free cash flow generation, with on-road engine sales outperforming the overall Chinese truck and bus vehicle markets [25]. - The company is expanding its joint venture with MTU Yuchai and enhancing its product portfolio to meet increasing demand, particularly in power generation [25]. - A share buyback program was initiated, repurchasing 3.3 million shares for a total of US$ 39.8 million [25].

Core Viewpoint - China Yuchai International Limited has entered into a strategic cooperation agreement with Kim Long Motor Hue to enhance its presence in the ASEAN-Korean trade areas through technology licensing and support for an engine factory in Vietnam [1][3]. Group 1: Strategic Cooperation Agreement - The agreement includes technology licensing rights for specific engine models primarily for trucks, buses, and commercial vehicles in Vietnam [2]. - Kim Long Motor will have exclusive sales rights for the licensed engines in Vietnam and priority sales rights in other ASEAN countries and South Korea, along with aftermarket service rights [2]. - The licensing agreement is valid for 15 years with total licensing fees amounting to US$28 million [2]. Group 2: Support and Services - China Yuchai will provide technical services for the construction of the engine factory, including equipment installation and commissioning, at Kim Long Motor's expense [3]. - The company will supply all engine assembly parts and service kits for the engines manufactured by Kim Long Motor in Vietnam [3]. Group 3: Company Background - China Yuchai, through its subsidiary Guangxi Yuchai Machinery Company Limited, is a leading powertrain solution provider in China, specializing in a variety of engines for different applications [5]. - In 2023, Yuchai sold 313,493 engines, establishing a strong market presence and reputation for high-quality products and reliable after-sales support [5].

Core Viewpoint - China Yuchai International Limited will release its 2024 unaudited second-half and full-year financial results on February 25, 2025, before market opening [1] Group 1: Earnings Call Details - A conference call and audio webcast for the investment community is scheduled for 8:00 A.M. EST on February 25, 2025, hosted by the President and CFO [2] - Analysts and institutional investors can participate by registering at least one hour before the call [3] - A simultaneous webcast will be available on the company's investor relations website, with a recorded version accessible shortly after the call [4] Group 2: Company Overview - China Yuchai, through its subsidiary Guangxi Yuchai Machinery Company Limited, is a leading powertrain solution provider in China, specializing in various engine types for multiple applications [5] - The company offers a comprehensive portfolio of powertrain solutions, including diesel, natural gas, and new energy products [5] - In 2023, Yuchai sold 313,493 engines, reinforcing its position as a major manufacturer and distributor in China [5]

Group 1 - China Yuchai International Limited (NYSE: CYD) is making significant investments in research and development, particularly with innovations like the 350hp IE-Power Hybrid system [1] - The company has established beneficial relationships with the public sector, specifically with the Government of Nanning [1] Group 2 - The article reflects the author's personal opinions and does not provide financial advice or recommendations regarding investment suitability [2][3]

SINGAPORE, Oct. 31, 2024 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") today announced that its Board of Directors has approved to terminate its share buyback plan with immediate effect. The share buyback plan was adopted on June 7, 2024, under which the Company may repurchase its ordinary shares up to US$40 million in dollar amount or 4 million in number, whichever occurs earlier. As of today, China Yuchai has repurchased a total of 3,339,968 shares amount ...