SINGAPORE, Dec. 23, 2025 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") wishes to announce that the Board of Directors of the Company has approved the appointment of Ms. Jiang Fei as a Director of China Yuchai with effect from December 23, 2025. Ms. Jiang joins the Board with over 23 years of working experience with Guangxi Yuchai Machinery Company Limited ("Yuchai"). She serves as the Chairman Assistant responsible for overseeing various departments, inclu ...

Group 1: Company Overview - Cummins Inc. is an American multinational corporation that designs, manufactures, and distributes diesel engines, electric vehicle components, and power generation products [4] - The company's main products in the hydrogen sector include hydrogen fuel cell powertrains for commercial vehicles, heavy-duty hydrogen engines, and large-scale electrolyzers [4] Group 2: Market Outlook and Analyst Ratings - On December 11, Citi raised the price target for Cummins Inc. stock to $580 from $530 while maintaining a Buy recommendation, reflecting a positive outlook for the machinery sector, particularly in construction and mining [1] - Barclays reaffirmed a Hold rating on Cummins stock with a price target of $515 on the same day [2] - UBS upgraded Cummins stock rating to Neutral from Sell and increased the price target to $500 from $350, based on expectations that the truck market cycle will reach its lowest point in 2026 [2] Group 3: Performance Expectations - UBS analysts anticipate possible lower results than expected for Cummins' engine and parts businesses in the first half of 2026 due to falling truck market conditions and pressure on profit margins [3] - However, these challenges may be offset by better-than-expected performance in power generation [3]

ab Global Research 19 December 2025 Channel Checks: Data Centers Expert: Shift to distributed generation for prime power could shift competitive landscape Channel check: OEMs with diverse products (diesel and gas) are best positioned Alongside our energy team, we co-hosted an expert call on the distributed power generation outlook with a former executive at a large engine OEM. We discussed with the expert topics including capacity, competition, and the demand outlook. Our key takeaways: Read through: Mostly ...

9 December 2025 | 11:24PM HKT Equity Research First Tractor (0038.HK) China's food security - Powering China's agriculture modernization; initiate at Buy | 0038.HK | 12m Price Target: HK$14.00 | Price: HK$7.20 | Upside: 94.4% | | --- | --- | --- | --- | | 601038.SS | 12m Price Target: Rmb21.00 | Price: Rmb12.69 | Upside: 65.5% | We initiate on First Tractor, China's largest manufacturer of agricultural tractors (by 2024 sales revenue), at Buy with our 12-m TPs of HK$14.0/Rmb21.0 for H/A-share implying 91%/6 ...

Financial Performance - Isuzu Motors reported earnings per share of $0.28 for the quarter, exceeding analysts' expectations of $0.27 by $0.01 [2] - The company achieved a net margin of 3.99% and a return on equity of 8.16% [2] - Revenue for the quarter was $5.54 billion, slightly below analyst estimates of $5.57 billion [2] Market Metrics - The company has a market capitalization of $11.23 billion and a PE ratio of 13.12 [1] - Isuzu Motors has a debt-to-equity ratio of 0.30, a current ratio of 1.60, and a quick ratio of 0.98 [1] - The stock reached a new 52-week high of $15.74 during trading, with the last traded price at $15.4930 [5] Company Overview - Isuzu Motors Limited manufactures and sells commercial vehicles, light commercial vehicles, and diesel engines globally [3] - The product range includes heavy and medium-duty trucks, buses, light-duty trucks, passenger pickup vehicles, SUVs, and marine engines [3]

Core Insights - Deere & Company (DE) is valued at a market cap of $127.8 billion and operates in manufacturing agricultural, construction, forestry machinery, and financial services [1] Financial Performance - Analysts expect DE to report a profit of $3.96 per share for fiscal Q4 2025, a decrease of 13% from $4.55 per share in the same quarter last year [2] - For fiscal 2025, DE's expected profit is $18.57 per share, down 27.5% from $25.62 per share in fiscal 2024, but projected to rebound to $19.99 in fiscal 2026, reflecting a year-over-year growth of 7.7% [3] Stock Performance - DE's stock has increased by 17.6% over the past 52 weeks, outperforming the S&P 500 Index's return of 16.9% and the Industrial Select Sector SPDR Fund's 15% increase [4] Recent Developments - Despite reporting better-than-expected Q3 total revenue of $12 billion and EPS of $4.75, DE's shares fell by 6.8% due to a decline in net sales across all major segments, particularly a 16.2% drop in the Production & Precision Agriculture division [5] - The company has narrowed its fiscal 2025 net income guidance, citing challenges from high interest rates and trade uncertainties affecting demand, especially in North America [6] Analyst Ratings - Wall Street analysts maintain a "Moderate Buy" rating for DE, with 11 out of 23 analysts recommending "Strong Buy," 2 suggesting "Moderate Buy," 9 advising "Hold," and 1 indicating "Strong Sell." The mean price target for DE is $523.52, suggesting a potential upside of 10.7% from current levels [7]

Group 1: Talen Energy Corporation - Talen Energy Corporation produces and sells electricity, capacity, and ancillary services primarily in the wholesale power markets in the United States [1] - The company has a Zacks Rank of 1 (Strong Buy) and has seen a 7.6% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - Talen Energy's shares gained 57.3% over the last three months, significantly outperforming the S&P 500's gain of 8.2% [2] Group 2: China Yuchai International - China Yuchai International primarily manufactures and sells diesel engines for medium-duty trucks in China [2] - The company also holds a Zacks Rank of 1 and has experienced a 37.2% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - China Yuchai's shares increased by 67.8% over the last three months, again outperforming the S&P 500's gain of 8.2% [3] Group 3: Magic Software Enterprises - Magic Software Enterprises develops, markets, and supports software development and deployment technology, enabling enterprises to accelerate application building and deployment [4] - The company has a Zacks Rank of 1 and has seen a 10.1% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [4] - Magic Software's shares gained 26.1% over the last three months, also outperforming the S&P 500's gain of 8.2% [5]

Group 1: Enova International - Enova International is an online financial services company offering loans in the US, UK, Australia, and Canada, with a Zacks Rank 1 (Strong Buy) [1] - The Zacks Consensus Estimate for Enova's current year earnings has increased by 2.4% over the last 60 days [1] - The company has a price-to-earnings ratio (P/E) of 8.83, significantly lower than the industry average of 14.10, and possesses a Value Score of A [2] Group 2: Precision Drilling - Precision Drilling is an oilfield services company providing contract drilling, well servicing, and strategic support services in North America and internationally, also holding a Zacks Rank 1 [2] - The Zacks Consensus Estimate for Precision Drilling's current year earnings has increased by 18.4% over the last 60 days [2] - The company has a price-to-earnings ratio (P/E) of 11.06, compared to the industry average of 15.80, and possesses a Value Score of A [3] Group 3: China Yuchai International - China Yuchai International primarily manufactures and sells diesel engines for medium-duty trucks in China, carrying a Zacks Rank 1 [3] - The Zacks Consensus Estimate for China Yuchai's current year earnings has increased by 37.2% over the last 60 days [3] - The company has a price-to-earnings ratio (P/E) of 13.49, slightly below the industry average of 14.10, and possesses a Value Score of A [4]

Financial Data and Key Metrics Changes - EBIT sales outperformed the Chinese truck and bus vehicle markets, with truck and bus engine sales up by 1.6% year-on-year in the second half of 2024, and a 17.2% increase for the full year 2024, compared to a 9.9% decline in vehicle sales [8] - Revenue for the full year 2024 rose by 6.6% year-on-year to RMB 19.1 billion or USD 2.7 billion, while gross profit increased by 14.3% year-on-year in the second half of 2024 [9][10] - Gross margin improved to 40.7% compared to 40.1% in FY 2023, attributed to higher revenue and cost reduction initiatives [10] Business Line Data and Key Metrics Changes - Agricultural engine sales were flat in 2024, while industrial engine sales increased by 11% year-on-year, and marine and genset engine sales rose by 25.5% year-on-year [9] - Total number of engines sold in FY 2024 increased by 13.7% to 356,586 units, driven by higher sales in truck, bus, industrial, and marine markets [31] Market Data and Key Metrics Changes - The operating environment in China was challenging, with a GDP increase of 5% year-on-year in 2024, but property investment continued to decline [15] - The total value of goods and services in ASEAN rose to $3.6 trillion, creating a trade surplus of almost $1 trillion in 2024 [15] Company Strategy and Development Direction - The company is focusing on enhancing engine efficiency and performance, developing next-generation emission standard engines, and advancing new energy solutions, including hydrogen technologies [17][18] - A strategic cooperation agreement was entered into for technology licensing and component supply, with a total licensing fee of $38 million [14] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about significant growth in the data center generator business, with an expected growth rate of at least 30% in 2025 [50] - The company anticipates a challenging but improving operating environment, with expectations for better performance in 2025 due to increased demand and capacity expansion plans [96] Other Important Information - R&D expenditures increased by 21.2% in the second half of 2024, representing 0.2% of revenue, with total R&D expenditures for FY 2024 at RMB 1.2 billion [16] - The company initiated a share buyback plan, repurchasing 3.3 million shares for a total cost of $39.8 million, demonstrating confidence in future revenue and profit generation [19][20] Q&A Session Summary Question: What were the sales figures for the data center generator business? - The MTU joint venture sold about 700 units in 2024, including various applications [45] Question: What is the expected growth rate for the data center generator business in 2025? - The order book for 2025 is already full, with expected growth of at least 30% [50] Question: What is the profitability of the generator business? - Specific margin details could not be disclosed, but the MTU joint venture is expected to have a premium due to international branding [47] Question: Will there be a price increase for generators? - There may be some improvement in pricing, but no significant plans for immediate increases [59] Question: What is the capacity expansion plan for 2025 and 2026? - The company plans a 35% to 40% increase in capacity by 2026 [68] Question: What are the challenges in the supply chain? - There are supply chain issues due to shortages of key components imported from Germany [112]

Financial Data and Key Metrics Changes - The company reported a revenue increase of 6% year over year to RMB 19.1 billion or $2.7 billion for the fiscal year 2024, compared to RMB 18 billion in 2023 [21] - Gross profit rose by 10.8% to RMB 2.8 billion or $392.1 million, with a gross margin increase to 14.4% from 14.1% in the previous year [22] - Net profit attributable to shareholders increased to RMB 323.1 million or $44.9 million, compared to RMB 285.5 million in FY2023 [25] Business Line Data and Key Metrics Changes - Truck and bus engine sales increased by 17.2% year over year for FY2024, while agricultural engine sales remained flat and industrial engine sales rose by 11% [5][7] - Marine and genset engine sales saw a significant increase of 25.5% year over year [7] - The total number of engines sold in FY2024 increased by 13.7% to 356,586 units compared to 313,493 units in FY2023 [21] Market Data and Key Metrics Changes - The Chinese truck and bus vehicle market experienced a 9.9% year-over-year decline in sales, while the company’s truck and bus engine sales outperformed this trend [5] - The overall operating environment in China was challenging, with GDP growth of 5% year over year in 2024 [11] Company Strategy and Development Direction - The company is focusing on enhancing manufacturing capabilities in Thailand for diesel engines and has entered a strategic cooperation agreement with Kimlong Motor in Vietnam for technology licensing [10] - Investment in research and development (R&D) increased by 12.3% to RMB 984.7 million or $137 million, representing 6.2% of revenue, as the company continues to develop new energy products and improve engine efficiency [23][12] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth in the data center generator business, expecting at least a 30% growth in 2025 due to a full order book [35] - The company anticipates a significant increase in demand for its products, particularly in the data center segment, which is expected to impact revenue positively [55] Other Important Information - The company initiated its first share buyback plan, repurchasing 3.3 million shares for a total cost of $39.8 million, and paid a cash dividend of $0.38 per share [15] - R&D expenditures, including capitalized costs, were RMB 1.2 billion or $165.4 million for FY2024, reflecting a commitment to innovation and development [12] Q&A Session Summary Question: What were the sales figures for the data center generator business? - The MTU joint venture sold over 700 units, including various applications, while the GYN sold about 800 units [31] Question: What is the expected growth rate for the data center generator business in 2025? - The company expects a significant growth rate of at least 30% for both GYMCO and the MTU joint venture in 2025 [35] Question: Will the profit attributed to minorities remain high in the future? - Management noted that the performance of associate companies has improved significantly, contributing to higher profits attributed to minorities [37] Question: How will other operating income be treated in the future? - Other operating income is influenced by government grants and VAT rebates, and while some components may be recurring, it is subject to various factors [80][82] Question: Will there be a price increase for generators due to strong demand? - Management indicated that while there may be some improvement in pricing, there are no significant plans for immediate price increases [42] Question: What is the capacity expansion plan for 2025 and 2026? - The company plans to increase capacity by 35% to 40% in 2025, with further increases planned for 2026 [46]