China Yuchai International (CYD) Investor presentation summary

Corporate structure and business overview

• Operates as a Bermuda holding company listed on NYSE, with a 76.4% stake in Guangxi Yuchai Machinery and a 48.9% stake in HL Global Enterprises.

• Main operating subsidiary, Yuchai, is a leading engine manufacturer in China with a strong R&D team and a capacity of 600,000 units per year.

• Extensive network of subsidiaries and JVs, including ventures in marine engines, emission control, fuel cell systems, and international assembly plants.

• Over 3,000 service stations in China and 400 distributors in 100 countries.

Market and operational performance

• China’s GDP is targeted to grow 5% in 2025, with government stimulus supporting the economy.

• Commercial vehicle sales in 2H 2024 declined 9.9% YoY, with mixed performance across truck and bus segments.

• Company sold 357,000 engines in 2024, with revenue of RMB 19.1 billion.

• On-road engine sales rebounded in 2024 after declines in 2022–2023; off-road engine sales remained stable.

Product and technology strategy

• Focus on meeting and exceeding emission standards, with National VI-b and Tier-4 compliant engines.

• Expanding into new energy products, including hybrid, fuel cell, and hydrogen combustion engines.

• Product portfolio covers truck, bus, marine, power generation, construction, and agricultural applications.

• New Thailand factory began operations in mid-2024 to support international growth.