SINGAPORE, Nov. 3, 2023
/PRNewswire/ -- China Yuchai International Limited (NYSE:
CYD) ("China Yuchai" or the "Company") today announced that the
Board of Directors has appointed Mr. Wong
Hong Wai as a member of Audit Committee and Mr. Xie Tao as a member of Compensation
Committee.
Mr. Wong Hong Wai was appointed
as a Director of the Company on March 1,
2023 and was subsequently re-designated as Independent
Director on April 21, 2023. With Mr.
Wong's appointment as an Audit Committee member, the Audi Committee
of the Company shall consist of three independent members.
Mr. Xie Tao is an Independent
Director of the Company and Guangxi Yuchai Machinery Company
Limited, the Company's main operating subsidiary in China.
Mr. Xie is also the Chairman of the Audit Committee of the Company.
With Mr. Xie's new appointment, the Compensation Committee of
the Company shall consist of three members, the majority of whom
are independent.
The Board of Directors of the Company believes that the
extensive business and management experience of Mr. Wong and Mr.
Xie will contribute towards the competencies of the respective
Committees.
About China Yuchai International
China Yuchai International Limited, through its subsidiary,
Guangxi Yuchai Machinery Company Limited ("GYMCL"), engages in the
manufacture, assembly, and sale of a wide variety of light-,
medium- and heavy-duty engines for trucks, buses, passenger
vehicles, construction equipment, marine and agriculture
applications in China. GYMCL also produces diesel power
generators. The engines produced by GYMCL range from diesel
to natural gas and hybrid engines. Through its regional sales
offices and authorized customer service centers, GYMCL distributes
its engines directly to auto OEMs and retailers and provides
maintenance and retrofitting services throughout China.
Founded in 1951, GYMCL has established a reputable brand name,
strong research and development team and significant market share
in China with high-quality
products and reliable after-sales support. In 2022, GYMCL
sold 321,256 engines and is recognized as a leading manufacturer
and distributor of engines in China. For more information, please visit
http://www.cyilimited.com.
Safe Harbor Statement:
This news release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. The words "believe", "expect", "anticipate", "project",
"targets", "optimistic", "confident that", "continue to",
"predict", "intend", "aim", "will" or similar expressions are
intended to identify forward-looking statements. All statements
other than statements of historical fact are statements that may be
deemed forward-looking statements. These forward-looking statements
including, but not limited to, statements concerning China Yuchai
group of entities' operations, financial performance and condition
are based on current expectations, beliefs and assumptions which
are subject to change at any time. China Yuchai cautions that these
statements by their nature involve risks and uncertainties, and
actual results may differ materially depending on a variety of
important factors such as government and stock exchange
regulations, competition, political, economic and social conditions
around the world and in China
including those discussed in China
Yuchai's Form 20-Fs under the headings "Risk Factors", "Results of
Operations" and "Business Overview" and other reports filed with
the Securities and Exchange Commission from time to time. All
forward-looking statements are applicable only as of the date it is
made and China Yuchai specifically disclaims any obligation to
maintain or update the forward-looking information, whether of the
nature contained in this release or otherwise, in the future.
For more information:
Investor Relations
Kevin Theiss
Tel: +1-212-510-8922
Email: cyd@bluefocus.com
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SOURCE China Yuchai International Limited