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China Yuchai International ( (CYD) ) has provided an update.
China Yuchai International Limited announced its unaudited financial results for the second half and full year of 2024, showing a mixed performance. For the second half of 2024, the company reported a slight decrease in revenue to RMB 8.8 billion, while gross profit increased by 14.3% due to higher engine sales and lower material costs. However, operating profit and net profit attributable to shareholders declined compared to the previous year. For the full year 2024, revenue grew by 6% to RMB 19.1 billion, with a 10.8% increase in gross profit. The company achieved a 13.7% increase in engine sales, despite a decline in commercial vehicle sales in China. The financial results reflect the company’s efforts in cost reduction and increased sales volume, although higher R&D and SG&A expenses impacted overall profitability.
More about China Yuchai International
China Yuchai International Limited is one of the largest powertrain solution manufacturers, operating primarily through its main subsidiary, Guangxi Yuchai Machinery Company Limited in China. The company focuses on producing engines for trucks, buses, industrial, marine, and power generation markets.
YTD Price Performance: 129.76%
Average Trading Volume: 158,721
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $946.3M
For an in-depth examination of CYD stock, go to TipRanks’ Stock Analysis page.