China Yuchai International Announces Unaudited 2025 Second Half-Year and Full Year Financial Results

Core Viewpoint - China Yuchai International Limited reported significant growth in engine sales and financial performance for the second half of 2025 and the full fiscal year 2025, driven by strong demand in the truck and bus segments, alongside strategic expansions in international markets [1][2]. Financial Highlights for 2H 2025 - Total number of engines sold increased by 28.7% to 210,913 units compared to 163,843 units in 2H 2024 [1]. - Basic and diluted earnings per share rose by 108.7% to RMB 4.57 (US$ 0.65) from RMB 2.19 in 2H 2024 [1]. - Profit for the period increased by 77.7% to RMB 275.7 million (US$ 39.2 million) compared to RMB 155.1 million in 2H 2024 [1]. - Operating profit grew by 193.1% to RMB 469.2 million (US$ 66.7 million) from RMB 160.1 million in 2H 2024 [1]. - Revenue increased by 33.5% to RMB 11.8 billion (US$ 1.7 billion) compared to RMB 8.8 billion in 2H 2024 [1]. Financial Highlights for FY 2025 - Total number of engines sold increased by 29.4% to 461,309 units compared to 356,586 units in FY 2024 [2]. - Basic and diluted earnings per share increased by 74.4% to RMB 14.32 (US$ 2.04) from RMB 8.21 in FY 2024 [2]. - Profit for the year increased by 64.8% to RMB 810.5 million (US$ 115.3 million) compared to RMB 491.7 million in FY 2024 [2]. - Operating profit increased by 82.7% to RMB 1.1 billion (US$ 155.2 million) compared to RMB 597.0 million in FY 2024 [2]. - Revenue grew by 28.9% to RMB 24.7 billion (US$ 3.5 billion) compared to RMB 19.1 billion in FY 2024 [2]. Sales Performance - Truck and bus engine unit sales rose by 42.8%, significantly outpacing the market sales growth of 4.5% for 2025 [2]. - Total truck engine unit sales rose by 50.7% YoY, compared to a 5.9% YoY increase in truck unit sales [2]. - Off-road engine unit sales increased by 13.0% YoY, with industrial and marine sales growth exceeding 24% YoY [2]. Research and Development - R&D expenses increased by 48.0% to RMB 874.9 million (US$ 124.5 million) compared to RMB 591.1 million in 2H 2024 [1]. - Total R&D expenditure, including capitalized costs, was RMB 974.2 million (US$ 138.6 million), representing 8.3% of revenue in 2H 2025 [1]. Balance Sheet Highlights as of December 31, 2025 - Short-term and long-term loans and borrowings were RMB 2.0 billion (US$ 287.4 million), down from RMB 2.5 billion at the end of FY 2024 [2]. - Trade and bills payables were RMB 11.1 billion (US$ 1.6 billion), compared to RMB 8.5 billion at the end of FY 2024 [2]. - Cash and bank balances were RMB 7.9 billion (US$ 1.1 billion), up from RMB 6.4 billion at the end of FY 2024 [2]. Strategic Developments - The company expanded its international presence with a strategic agreement in Vietnam and shipped products to Germany and Mexico [2]. - An indirect subsidiary filed for a potential listing on the Hong Kong Stock Exchange in January 2026 [2].