Quarterly consolidated financial Facts & Figures: China Yuchai International Limited (NYSE: CYD)

By | October 24, 2019

On Wednesday, China Yuchai International Limited (NYSE: CYD) closed with moved down of -1.14% to $13. Recent traded volume was 27432 shares versus to it an average volume of 40.00K shares. The company holds 40.61M shares outstanding and market cap of $527.93M. The stock day range was recorded between a low of $12.96 and a high $13.24.

China Yuchai International Limited (NYSE: CYD), reported recently its unaudited consolidated financial results for the second quarter ended June 30, 2019.

Net revenue for the second quarter of 2019 increased by 15.6% to RMB 4.9B (US$ 707.2M) contrast to RMB 4.2B in the second quarter of 2018.

Gross profit reduced by 7.3% to RMB 712.9M (US$ 103.7M) contrast with RMB 769.0M in the second quarter of 2018.  Gross margin was 14.7% contrast with 18.3% in the second quarter of 2018.

Other operating income was RMB 98.8M (US$ 14.4M), contrast with RMB 33.7M in the second quarter of 2018.

Research and development (R&D) expenses reduced by 29.4% to RMB 110.5M (US$ 16.1M) contrast with RMB 156.5M in the second quarter of 2018.  Lower R&D expenses in the second quarter of 2019 were mainly Because of the capitalization of development costs for National VI and Tier 4 engines that met the IFRS capitalization criteria.  In the second quarter of 2019, the R&D capitalization amount was RMB 66.2M (US$ 9.6M).  The Company continues to further develop its new National VI and Tier 4 engines for the on- and off-road markets, respectively.  In the second quarter of 2019, the total R&D expenditure including capitalized costs, was RMB 176.7M (US$ 25.7M) and it represented 3.6% of net revenue, contrast with 3.7% in the second quarter of 2018.

Selling, general and administrative (SG&A) expenses increased by 10.0% to RMB 408.9M (US$ 59.5M) from RMB 371.8M in the second quarter of 2018.  SG&A expenses represented 8.4% of revenue contrast with 8.8% in the second quarter of 2018.

Operating profit increased by 6.5% to RMB 292.2M (US$ 42.5M) from RMB 274.5M in the second quarter of 2018.  The operating margin was 6.0% contrast with 6.5% in the second quarter of 2018.

Finance costs increased by 9.3% to RMB 32.4M (US$ 4.7M) from RMB 29.6M in the second quarter of 2018.  Higher finance costs mainly resulted from higher borrowings and bills discounting contrast with the second quarter of 2018.

Net profit attributable to China Yuchai’s shareholders was RMB 147.0M (US$ 21.4M), contrast with RMB 132.1M in the second quarter of 2018.

China Yuchai International Limited’s (CYD) stock price showed strong performance of 1.80% in last seven days, switched down -3.27% in last thirty days and it fell -16.45% in last one year.

It has 40.61 million of outstanding shares and its shares float measured at 16.68.

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