Company Overview - China Yuchai International Limited (CYD) holds a 76.4% equity interest in Guangxi Yuchai Machinery Company Limited (GYMCL)[9] - Yuchai has a total engine production capacity of 600,000 units per annum[11] - Yuchai has over 3,000 domestic service stations throughout China[11] Market and Sales - China's GDP is targeted to grow approximately 5% for 2025[20] - In 2024, commercial vehicle industry unit sales reached 1 million, a YoY decrease of 9.9%[20] - In 2024, total truck sales increased by 15% YoY, with the HD segment accounting for 43% of total truck sales[24] - In 2024, total bus sales approximated 300,000 units, an increase of 28% YoY[24] - China Yuchai's total unit sales in 2024 (excluding NEV) were 344,486 units[31] Financial Performance - In 2024, the company's revenue reached RMB 19.1 billion[128] - The gross profit percentage in 2024 was 14.7%[136] - The profit after tax in 2024 was RMB 0.5 billion[136] - As of 2024, the company's cash and bank balance was RMB 6.4 billion[137] - In 2024, a share buyback was conducted for approximately US$ 39.8 million[142]

Core Insights - INNEOVA Holdings Limited has completed the acquisition of INNEOVA Engineering Pte. Ltd., enhancing its engineering capabilities and commitment to green technologies [1][2][3] Company Overview - INNEOVA Holdings, formerly SAG Holdings Limited, is a Singapore-based provider of high-quality OEM, third-party branded, and in-house branded replacement parts for motor vehicles and non-vehicle combustion engines [7] - The company reported revenues of $59.5 million for the financial year ended December 31, 2023, with a balanced revenue mix between its On-Highway Business (45.1%) and Off-Highway Business (54.8%) [4] Strategic Expansion - The acquisition of INNEOVA Engineering is a significant milestone in the company's transformation strategy, allowing it to diversify into comprehensive engineering solutions and systems integration [2][3] - This strategic move is expected to create synergies and expand service offerings, particularly in engineering solutions and sustainable technologies [4][5] Engineering Solutions - INNEOVA Engineering specializes in turnkey engineering solutions across key sectors such as transport, healthcare, defense, utilities, and facility management, focusing on innovation and sustainability [6] - The integration of INNEOVA Engineering is anticipated to enhance the company's ability to meet the growing demand for sustainable engineering solutions [5][6]