Core Viewpoint - The establishment of the Yuchai Vietnam factory marks a significant milestone in Yuchai's internationalization strategy and showcases successful cooperation between Chinese and Vietnamese enterprises in the high-end equipment manufacturing sector [1][3]. Group 1: Factory Establishment and Significance - The Yuchai Vietnam factory, located in Hue City, is the second engine factory built overseas by Yuchai, following the one in Thailand [1]. - This factory is the first specialized automotive engine plant in Vietnam, enhancing the market position and brand value of both Jinlong Automobile and Yuchai in Vietnam and the ASEAN market [3]. Group 2: Construction and Production Capabilities - Construction of the factory began in August 2024, with Yuchai leveraging decades of experience in engine manufacturing to provide comprehensive solutions, including production line construction, technical services, and digital system development [5]. - The factory features a globally leading, highly automated engine assembly production line, primarily producing Yuchai's full range of diesel and natural gas engines for various applications, including commercial vehicles, construction machinery, agricultural machinery, ships, and power generation [5]. Group 3: Strategic Cooperation and Future Plans - Yuchai's Chairman, Li Hanyang, emphasized that the factory's completion is a result of strategic cooperation with Jinlong Automobile and reflects the deepening economic and trade relations between China and Vietnam [7]. - The modern factory will serve as a link to strengthen strategic cooperation and promote Yuchai's internationalization efforts, injecting strong "Chinese core" technology into Vietnam's automotive industry [7]. Group 4: Market Performance and Growth - In recent years, Yuchai has actively responded to the Belt and Road Initiative, implementing an international development strategy and establishing a series of significant overseas projects in Southeast Asia and Europe [9]. - From January to November, Yuchai's overseas engine sales increased by over 50% year-on-year, contributing to record highs in several key operational indicators for the year [9].