SINGAPORE, March 10, 2020 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or "the Company"), a leading automotive 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 that GYMCL has introduced an advanced high-powered marine engine to address the growing demand of the domestic marine industry, particularly vessels in the yacht class.
Stronger, lighter and more compact engines are typically required for the drivetrain in the yacht class of boats. The mainstream product market for Chinese boat engines is presently monopolized by imported brands.
To address this market opportunity, GYMCL launched a high-powered boat engine project in 2019. The new boat engine optimizes the existing design of the Yuchai model YC6MJ engine with innovative technology tailored for the yacht-class engine requirements.
A number of innovative technologies were integrated into Yuchai's unique core technologies in developing the YC6MJ marine engine. These innovations have resulted in the YC6MJ marine engine's kilowatt-to-liter power being increased to 50.1kW/L, with a weight-to-power ratio of the YC6MJ at 2.0kg/kW, and the volume-to-power ratio has reached 0.003m3/kW.
After the completion of bench testing, the marine YC6MJ model will quickly enter the OEM certification phase.
Mr. Weng Ming Hoh, President of China Yuchai, commented, "We are again using our extensive engine expertise and broad product breadth to fill a domestic Chinese market opportunity. The YC6MJ engine will deliver to our customers advanced yacht-class engine performance."
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, the Company 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 2018, GYMCL sold 375,731 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's and the joint venture's 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.
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Kevin Theiss
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Email: cyd@bluefocus.com
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