Wired News – China Yuchai Confirms Delivery of 800 GYMCL Engines-Fitted Buses to Saudi Arabia
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LONDON, UK / ACCESSWIRE / April 24, 2018 / Active-Investors.com has just released a free research report on China Yuchai International Ltd (NYSE: CYD) ("China Yuchai"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CYD as the Company's latest news hit the wire. On April 20, 2018, the Company announced that buses manufactured by Anhui Ankai Automobile Co., Ltd ("Anhui Ankai"), which have all been powered by GYMCL engines, were recently exported to Saudi Arabia. China Yuchai is a leading manufacturer and distributor of engines for on-and off-road applications and operates via its subsidiary, Guangxi Yuchai Machinery Co. Ltd ("GYMCL"). Register today and get access to over 1000 Free Research Reports by joining our site below:
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Details of the Export Order
Hefei, Anhui-based Anhui Ankai is a Chinese automotive manufacturing Company that specializes in the production of buses and coaches. It had received the order for 800 buses from Saudi Arabia. Anhui Ankai chose GYMCL as the sole supplier for the heavy-duty engines for these 800 buses. Out of the total of 800 buses, 600 buses were fitted with GYMCL's YC6MK engines, and the remaining 200 buses were fitted with GYMCL's YC6L heavy-duty diesel engines. The YC6MK models are 6-cylinder turbocharged diesel engines with a displacement of 10.34 liters, while the YC6L models are compact, lightweight designed 6-cylinder turbocharged engine with a displacement of 8.42 liters.
Commenting on the successful completion of such a large order, Weng Ming Hoh, President of China Yuchai, said:
"This large order is another testament to the excellent reputation of our engines for their performance and reliability, supported by our international service capabilities. We are strategically positioned to showcase Yuchai engines to the world. As growth continues, our broad line of advanced engines provides the diversity to meet the power requirements throughout the Saudi Arabian market."
This is not the first large order for GYMCL's engines aimed at transport buses for Saudi Arabia, which has been successfully fulfilled by the Company. The Company has been supplying GYMCL's engines for buses being exported to Saudi Arabia since 2013. GYMCL was one of the earliest Chinese engine manufacturers to address the needs of the Saudi Arabia bus market. As per a rough estimate by the Company, over 90% of buses being used in Saudi Arabia are equipped with GYMCL's engines.
About Guangxi Yuchai Machinery Co. Ltd (GYMCL)
GYMCL is a subsidiary of China Yuchai and is one of the largest engine manufacturers in China. It manufactures, assembles, and sells a wide selection of light-, medium-, and heavy-duty engines for trucks, buses, passenger vehicles, construction equipment, marine, and agriculture applications. GYMCL also produces diesel power generators. GYMCL distributes its engines directly to original equipment manufacturers and retailers, and provides maintenance and retrofitting services throughout China.
The engines manufactured by GYMCL support range of fuels from diesel to natural gas and hybrid ones. Its engines are available in capacities of 1.2L - 80L over 10 engine platforms, and power capacities ranging from 60PS to 2400PS. Most of the engines manufactured by GYMCL are compliant with National IV and V emission standards, while a few engine models are compliant with National VI emission standards.
The Company's main manufacturing facility is at Yulin City. It has offices and over 2,700 service centers in major geographic regions of China. It employs over 900 people at its facilities. GYMCL sold 367,097 engines in FY17.
About China Yuchai International Ltd
Established on April 29, 1993, and based in Singapore, China Yuchai is a Bermuda holding Company. It is a subsidiary of Singapore-based Hong Leong Asia Ltd. China Yuchai has major operations in China, and primarily operates via its subsidiary GYMCL.
Stock Performance Snapshot
April 23, 2018 - At Monday's closing bell, China Yuchai International's stock declined 1.84%, ending the trading session at $21.84.
Volume traded for the day: 137.56 thousand shares, which was above the 3-month average volume of 73.63 thousand shares.
Stock performance in the past twelve-month period – up 23.88%
After yesterday's close, China Yuchai International's market cap was at $917.28 million.
Price to Earnings (P/E) ratio was at 5.86.
The stock has a dividend yield of 4.12%.
The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry.
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