Yuchai to Broaden China Engine Market by Upgrading Products
2012-09-12 Source：www.chinabuses.org
Summarize：Now, more and more China domestic manufacturer are cooperating with the foreign giants in the engin products. For China domestic engine supplier, China Yuchai International Limited now is putting more efforts on its new products development and the new technology development so as to upgrade its products to meet the higher emission standard.
www.chinabuses.org: Now, more and more China domestic manufacturer are cooperating with the foreign giants in the engin products. For China domestic engine supplier, China Yuchai International Limited now is putting more efforts on its new products development and the new technology development so as to upgrade its products to meet the higher emission standard.
China Yuchai International Limited announced several days ago that its key subsidiary, Guangxi Yuchai Machinery Company Limited ( GYMCL ) has received approval from China s National Association of Financial Market Institutional Investors ( NAFMII ) for the issuance of RMB-denominated, unsecured, short-term financing bonds ( Bonds ) amounting to RMB 1 billion. The Bonds will be issued on August 28, 2012 and mature on August 29, 2013. The par value and issue price of each Bond is RMB 100.
China Yuchai International Limited announced on August 10 its unaudited financial results for the second quarter ended June 30, 2012.Net revenue was $ 541.7 million, a 14.68% decrease from the corresponding quarter in 2011. The total number of diesel engines sold was 109,329 units compared with 139,236 units in Q2 2011, a decrease of 29,907 units or 21.5%. This was mainly due to weaker demand in the commercial vehicle market, especially in the truck segment. Gross profit was $106.6 million, a 12.58% decrease from the corresponding period in 2011. Gross margin increased to 19.7% in Q2 2012 as compared with 19.2% a year ago. Operating profit declined to $33.2 million, a 27.6% decrease from the corresponding period in 2011. Operating margin was 6.1% compared with 7.2% a year ago.Net income attributable to shareholders was $10.6 million, a 56.74% decrease from the corresponding quarter in 2011.
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