China Yuchai International Announces Unaudited 2022 1st Half-Year Financial Results.

SINGAPORE: China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today its unaudited consolidated financial results for the 2022 first half-year ended June 30 ("1H"), 2022. The financial information presented herein for 1H 2022 and 1H 2021 is reported using International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board.

Financial Highlights for 1H 2022

Revenue decreased by 32.2% to RMB 8.6 billion (US$ 1.3 billion) compared with RMB 12.6 billion in the same period last year;

Gross profit was RMB 1.4 billion (US$ 202.7 million), an increase in gross margin to 15.9%, compared with RMB 1.6 billion and a gross margin of 12.9% in the same period last year;

Operating profit was RMB 288.0 million (US$ 42.9 million) compared with RMB 499.8 million in the same period last year;

Basic and diluted earnings per share were RMB 2.29 (US$ 0.34) compared with RMB 6.21 in the same period last year;

Total number of engines sold decreased by 36.6% to 180,911 units compared with 285,342 units in the same period last year;

Subsequent to the 1H 2022 period, cash dividends of US$0.40 per ordinary share were paid in July 2022.

Revenue was RMB 8.6 billion (US$ 1.3 billion) compared with RMB 12.6 billion in the same period last year.

According to data reported by the China Association of Automobile Manufacturers, total industry unit sales of commercial vehicles (excluding gasoline-powered and electric-powered vehicles) declined by 49.7% year-over-year with truck and bus unit sales down by 50.9% and 35.1%, respectively, in 1H 2022. The industry sales decline was primarily due to lower demand from a high base in 1H 2021, and pandemic-related lockdowns in various parts of the country which caused weaker commercial vehicle demand due to less logistical activities and infrastructure and construction projects.

Reflecting the above industry conditions, the total number of engines sold by GYMCL in 1H 2022 was 180,911 units, a 36.6% decrease compared with 285,342 units in same period last year. GYMCL reported a 56.8% decline in truck and bus engine sales and a 12.7% decline in off-road engines sales in 1H 2022.

Gross profit was RMB 1.4 billion (US$ 202.7 million), compared with RMB 1.6 billion in the same...