GYMCL Added to Trade List

SINGAPORE, Oct. 16, 2022 /PRNewswire/ — The Board of Directors of China Yuchai International Limited (NYSE: CYD) (“China Yuchai” or the “Company”) needs to announce that the Company just lately famous that the Bureau of Industry and Security (the “BIS”) within the Department of Commerce of the United States of America (the “U.S. Department of Commerce”) added the Company’s subsidiary, Guangxi Yuchai Machinery Co., Ltd., to the Unverified List, which is about forth as a complement to the Export Administration Regulations (“EAR”).

The Company understands that GYMCL has been proactively addressing the matter.  As on the date of this announcement, GYMCL’s business is working usually with no main provide chain impression.

Based on data launched by the U.S. Department of Commerce, entities are added to the Unverified List because the BIS was unable to confirm their bona fides as a result of an end-use examine (i.e. the legitimacy and reliability relating to the top use or finish customers of things topic to the EAR) couldn’t be accomplished satisfactorily for causes outdoors the U.S. Government’s management. The Company understands that an entity’s itemizing on the Unverified List doesn’t imply that U.S. exporters can not have interaction with the events listed. Rather, the U.S. exporters could have to conduct extra due diligence to confirm finish use or finish customers of ultimate merchandise earlier than exporting the products.

The Company will make additional bulletins as and when acceptable within the occasion of any materials growth on the matter.

In the meantime, shareholders and potential buyers of the Company are suggested to train warning when dealing in shares or securities of the Company.

About China Yuchai International

China Yuchai International Limited, via its subsidiary, Guangxi Yuchai Machinery Company Limited (“GYMCL”), engages within the manufacture, meeting, and sale of all kinds of light-, medium- and heavy-duty engines for vehicles, buses, passenger automobiles, building tools, marine and agriculture functions in China.  GYMCL additionally produces diesel energy mills. The engines produced by GYMCL vary from diesel to pure fuel and hybrid engines. Through its regional gross sales places of work and licensed customer support facilities, GYMCL distributes its engines instantly to auto OEMs and retailers and gives upkeep and retrofitting companies all through China. Founded in 1951, GYMCL has established a good model identify, sturdy analysis and growth workforce and vital market share in China with high-quality merchandise and dependable after-sales assist. In 2021, GYMCL offered 456,791 engines and is acknowledged as a number one producer and distributor of engines in China. For extra data, please go to http://www.cyilimited.com.

Safe Harbor Statement:

This information launch could include forward-looking statements inside the which means of the Private Securities Litigation Reform Act of 1995. The phrases “believe”, “expect”, “anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue to”, “predict”, “intend”, “aim”, “will” or comparable expressions are supposed to determine forward-looking statements. All statements apart from statements of historic reality are statements which may be deemed forward-looking statements. These forward-looking statements together with, however not restricted to, statements regarding China Yuchai’s and the three way partnership’s operations, monetary efficiency and situation are based mostly on present expectations, beliefs and assumptions that are topic to change at any time. China Yuchai cautions that these statements by their nature contain dangers and uncertainties, and precise outcomes could differ materially relying on quite a lot of necessary elements equivalent to authorities and inventory trade rules, competitors, political, financial and social circumstances around the globe and in China together with these mentioned in China Yuchai’s Form 20-Fs underneath the headings “Risk Factors”, “Results of Operations” and “Business Overview” and different stories filed with the Securities and Exchange Commission from time to time. Among others, if the COVID-19 pandemic will not be successfully and well timed managed, our business operations and monetary situation could also be materially and adversely affected due to a deteriorating marketplace for automotive gross sales, an financial slowdown in China and overseas, a possible weakening of the monetary situation of our prospects, or different elements that we can not foresee. All forward-looking statements are relevant solely as of the date it’s made and China Yuchai particularly disclaims any obligation to preserve or replace the forward-looking data, whether or not of the character contained on this launch or in any other case, sooner or later.

For extra data:
Investor Relations
Kevin Theiss
Tel: +1-212-510-8922
Email: [email protected] 

SOURCE China Yuchai International Limited