China Yuchai International Limited&nbsp;(NYSE: CYD)&nbsp;("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in&nbsp;China&nbsp;through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), wishes to announce today its unaudited consolidated financial results for the 2022 second half-year ("2H 2022") and fiscal year ("FY 2022") ended&nbsp;December 31, 2022. &nbsp;The financial information presented herein for the second half year and fiscal year of 2022 and the second half year ("2H 2021") and fiscal year ("FY 2021") ended&nbsp;December 31, 2021&nbsp;is reported using the International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board.&nbsp;

Revenue wasRMB 7.5 billion(US$ 1.1 billion) compared withRMB 8.6 billionin 2H 2021;Gross profit wasRMB 1.3 billion(US$ 182.4 million) compared withRMB 1.3 billionin 2H 2021. Gross margin was 17.0% in 2H 2022 compared with 15.4% in 2H 2021;Operating profit grew by 41.2% toRMB 231.3 million(US$ 33.2 million) compared withRMB 163.8 millionin 2H 2021;Basic and diluted earnings per share increased by 565.2% toRMB 3.06(US$ 0.44)compared withRMB 0.46in 2H 2021;Total number of engines sold decreased by 18.1% to 140,345 units compared with 171,449 units in 2H 2021.

Revenue was&nbsp;RMB 7.5 billion&nbsp;(US$ 1.1 billion) compared with&nbsp;RMB 8.6 billion&nbsp;in 2H 2021.

The total number of engines sold by GYMCL in 2H 2022 declined by 18.1% to 140,345 units compared with 171,449 units in 2H 2021. The decrease was mainly due to lower engine sales in the truck, bus, marine and power generation application markets, partially offset by higher sales in agricultural and industrial engines. &nbsp;

According to data reported by the China Association of Automobile Manufacturers ("CAAM"), in 2H 2022, commercial vehicle unit sales (excluding sales of gasoline-powered and electric-powered vehicles) decreased by 26.3% compared to 2H 2021, as sales of trucks and buses declined by 27.5% and 18.4% respectively, reflecting weak demand in these market segments.&nbsp;

Gross profit was&nbsp;RMB 1.3 billion&nbsp;(US$ 182.4 million), compared with the same amount of&nbsp;RMB 1.3 billion&nbsp;in 2H 2021. Gross margin increased to 17.0% as compared with 15.4% in 2H 2021. &nbsp;The increase in gross margin was mainly attributable to a change in revenue mix with an increase in off-road segment over the on-road segment, cost reductions, and lower sales rebates.

Other operating income increased by 22.9% to&nbsp;RMB 251.3 million&nbsp;(US$ 36.1 million) compared with&nbsp;RMB 204.5 million&nbsp;in 2H 2021. The increase was mainly due to higher government grants.

Research and development ("R&amp;D") expenses decreased by 19.7% to&nbsp;RMB 428.0 million&nbsp;(US$ 61.4 million) compared with&nbsp;RMB 533.1 million&nbsp;in 2H 2021 due to lower R&amp;D expenses incurred in commercial vehicle engines that were partially offset by higher R&amp;D expenses incurred in marine engines and power generation engines and new energy products. Total R&amp;D expenditures, including capitalized costs, were&nbsp;RMB 540.8 million&nbsp;(US$ 77.6 million) representing 7.3% of revenue in 2H 2022, as compared to&nbsp;RMB 712.2 million&nbsp;representing 8.3% of revenue in 2H 2021.

Selling, general and administrative ("SG&amp;A") expenses increased slightly to&nbsp;RMB 862.1 million&nbsp;(US$ 123.8 million) from&nbsp;RMB 835.9 million&nbsp;in 2H 2021. &nbsp;The increase was mainly due to increased warranty expenses compared with the same period last year. SG&amp;A expenses represented 11.6% of revenue for 2H 2022 compared with 9.7% in 2H 2021.

Operating profit rose by 41.2% to&nbsp;RMB 231.3 million&nbsp;(US$ 33.2 million) from&nbsp;RMB 163.8 million&nbsp;in 2H 2021. The operating margin was 3.1% compared with 1.9% in 2H 2021.

Finance costs declined by 15.3% to&nbsp;RMB 40.2 million&nbsp;(US$ 5.8 million) from&nbsp;RMB 47.5 million&nbsp;in 2H 2021. &nbsp;

The share of financial results of the associates and joint ventures was a profit of&nbsp;RMB 1.8 million&nbsp;(US$ 0.3 million) compared with a loss of&nbsp;RMB 108.4 million&nbsp;in 2H 2021. &nbsp;This gain was largely due to higher profit at the MTU Yuchai Power Company Limited and the share of lower losses at Y&amp;C Engine Co. Ltd.

Income tax expense was&nbsp;RMB 2.6 million&nbsp;(US$ 0.4 million) as compared with an income tax credit of&nbsp;RMB 42.4 million&nbsp;in 2H 2021. The change was mainly due to the higher taxable income in 2H 2022.

Net profit attributable to equity holders of the Company was&nbsp;RMB 124.9&nbsp;million (US$ 17.9 million) compared with&nbsp;RMB 19.0&nbsp;million in 2H 2021.

Basic and diluted earnings per share were&nbsp;RMB 3.06&nbsp;(US$ 0.44)&nbsp;compared with&nbsp;RMB 0.46&nbsp;in 2H 2021.

Basic and diluted earnings per share for 2H 2022 and 2H 2021 were based on a weighted average of 40,858,290 shares.&nbsp;

Financial Highlights for FY 2022&nbsp;

Revenue decreased toRMB 16.0 billion(US$ 2.3 billion) compared withRMB 21.3 billionin FY 2021;Gross profit wasRMB 2.6 billion(US$ 377.7 million), a 16.4% gross margin, compared withRMB 3.0 billionand a gross margin of 13.9% in FY 2021;Operating profit wasRMB 519.3 million(US$ 74.6 million) compared withRMB 663.5 millionin FY 2021;Basic and diluted earnings per share wereRMB 5.35(US$ 0.77)compared withRMB 6.67in FY 2021;Total number of engines sold decreased by 29.7% to 321,256 units compared with 456,791 units in FY 2021.

Revenue was&nbsp;RMB 16.0 billion&nbsp;(US$ 2.3 billion) compared with&nbsp;RMB 21.3 billion&nbsp;in FY 2021.

The total number of engines sold by GYMCL in FY 2022 decreased by 29.7% to 321,256 units compared with 456,791 units in FY 2021. The decrease was mainly due to weakness in the truck and bus markets, and the markets of marine and power generation engines.&nbsp;

According to CAAM, commercial vehicle unit sales (excluding sales of gasoline-powered and electric-powered vehicles) decreased by 41.4% in FY 2022, as sales of trucks declined by 42.9% while sales of buses decreased by 27.1%. The impact of COVID-19 restrictions and related supply chain disruptions impacted market conditions in&nbsp;China&nbsp;and in foreign markets.

Gross profit decreased by 10.9% to&nbsp;RMB 2.6 billion&nbsp;(US$ 377.7 million) compared with&nbsp;RMB 3.0 billion&nbsp;in FY 2021.&nbsp; Gross margin increased to 16.4% compared with 13.9% in FY 2021.&nbsp; The increase in gross margin was mainly attributable to a change in revenue mix with higher off-road revenue as a greater proportion of the total revenue, and lower sales rebates.

Other operating income increased by 6.5% to&nbsp;RMB 336.8 million&nbsp;(US$ 48.4 million) compared with&nbsp;RMB 316.2 million&nbsp;in FY 2021. The increase was mainly due to higher government grants.&nbsp;

R&amp;D expenses decreased by 1.5% to&nbsp;RMB 836.4 million&nbsp;(US$ 120.1 million) compared with&nbsp;RMB 848.8 million&nbsp;in FY 2021. GYMCL continued with its initiatives to improve engine performances and the qualities of its engines compliant with&nbsp;China's&nbsp;National VI and Tier 4 emission standards, and to develop new energy products.&nbsp; In FY 2022, total R&amp;D expenditures including capitalized costs were&nbsp;RMB 1.0 billion&nbsp;(US$ 146.1 million) compared with&nbsp;RMB 1.2 billion&nbsp;in FY 2021, representing 6.4% of the revenue compared with 5.5% in FY 2021.&nbsp;

SG&amp;A expenses were&nbsp;RMB 1.6 billion&nbsp;(US$ 231.4 million) representing 10.1% of the revenue compared with&nbsp;RMB 1.8 billion, representing 8.3% of the revenue in FY 2021.&nbsp; This decrease was mainly due to lower freight, personnel and warranty expenses.

Operating profit was&nbsp;RMB 519.3 million&nbsp;(US$ 74.6 million), down from&nbsp;RMB 663.5 million&nbsp;in FY 2021. The operating margin was 3.2% compared with 3.1% in FY 2021.

Finance costs decreased by 17.6% to&nbsp;RMB 95.5 million&nbsp;(US$ 13.7 million) from&nbsp;RMB 115.9 million&nbsp;in FY 2021.&nbsp;

The share of financial results of the associates and joint ventures was a loss of&nbsp;RMB 29.1 million&nbsp;(US$ 4.2 million) compared with a loss of&nbsp;RMB 95.9 million&nbsp;in FY 2021. &nbsp;The decreased loss was primarily attributable to higher profit at the MTU Yuchai Power Company Limited and the share of lower losses at Y&amp;C Engine Co. Ltd. &nbsp;

Income tax expense was&nbsp;RMB 59.1 million&nbsp;(US$ 8.5 million) as compared with&nbsp;RMB 43.8 million&nbsp;in FY 2021.

Net profit attributable to China Yuchai's shareholders was&nbsp;RMB 218.6 million&nbsp;(US$ 31.4 million) compared with&nbsp;RMB 272.7 million&nbsp;in FY 2021.

Basic and diluted earnings per share were&nbsp;RMB 5.35&nbsp;(US$ 0.77)&nbsp;compared with&nbsp;RMB 6.67&nbsp;in FY2021.&nbsp;

Basic and diluted earnings per share for FY 2022 and FY 2021 were based on a weighted average of 40,858,290 shares. &nbsp;&nbsp;

Balance Sheet Highlights as at&nbsp;December 31, 2022

Cash and bank balances wereRMB 4.9&nbsp;billion (US$ 696.5 million) compared withRMB 5.3&nbsp;billion at the end of FY 2021;&nbsp;Trade and bills receivables wereRMB 6.8&nbsp;billion (US$ 975.4 million) compared withRMB 6.8&nbsp;billion at the end of &nbsp;FY 2021;Inventories wereRMB 4.9&nbsp;billion (US$ 709.0 million) compared withRMB 5.2&nbsp;billion at the end of FY 2021;&nbsp;Trade and bills payables wereRMB 6.9&nbsp;billion (US$ 993.5 million) compared withRMB 7.4&nbsp;billion at the end of FY 2021;Short-term and long-term bank borrowings wereRMB 2.3&nbsp;billion (US$ 336.2 million) compared withRMB 2.2&nbsp;billion at the end of FY 2021. &nbsp;

Mr.&nbsp;Weng Ming Hoh, President of China Yuchai, commented, "Our results once again demonstrated the strong resilience of our businesses in selling into diversified engine markets."&nbsp;&nbsp;

"Market demand for trucks and buses was down significantly in the second half and for the full year of 2022.&nbsp; Chinese economic growth was weak in 2022 and investment in the property markets declined affecting demand for trucks.&nbsp; In addition, slower global economic growth also affected Chinese exports. &nbsp;The COVID-19 pandemic-related lockdowns and travel restrictions impacted the supply chain and affected commercial vehicle production in 2022."

"However, many COVID-19 restrictions have recently been rescinded creating more opportunities for growth in the future.&nbsp; We continued to maintain a strong balance sheet despite the weak operating environment," Mr. Hoh concluded.

Disclaimer Regarding Unaudited Financial Results&nbsp;

Investors should note that the Company has not yet finalized its consolidated financial results for FY 2022. &nbsp;The financial information of the Company presented above is unaudited and may differ materially from the audited financial statements of the Company for FY 2022 to be released when it is available.&nbsp;

The Company's functional currency is the U.S. dollar and its reporting currency is Renminbi. The translation of amounts from Renminbi to U.S. dollars is solely for the convenience of the reader. Translation of amounts from Renminbi to U.S. dollars has been made at the rate of&nbsp;RMB 6.9646&nbsp;=&nbsp;US$1.00, the rate quoted by the People's Bank of&nbsp;China&nbsp;at the close of business on&nbsp;December 31, 2022. &nbsp;No representation is made that the Renminbi amounts could have been, or could be, converted into U.S. dollars at that rate or at any other certain rate on&nbsp;December 31, 2022&nbsp;or at any other date.

Unaudited 2H 2022 and FY 2022 Conference Call

A conference call and audio webcast for the investment community has been scheduled for&nbsp;8:00 A.M. Eastern Standard Time&nbsp;on&nbsp;February 23, 2022. The call will be hosted by the President and Chief Financial Officer of China Yuchai, Mr.&nbsp;Weng Ming Hoh&nbsp;and Mr.&nbsp;Choon Sen Loo&nbsp;respectively, who will present and discuss the financial results and business outlook of the Company followed with a Q&amp;A session.

Analysts and institutional investors may participate in the conference call by registering at:&nbsp;<a href="https://register.vevent.com/register/BIadf79c13ba63410187ba354842c0be45" target="_blank" rel="nofollow">https://register.vevent.com/register/BIadf79c13ba63410187ba354842c0be45</a>&nbsp;at least one hour before the scheduled start time.&nbsp; A return email will be sent with instructions and numbers to join the call.

For all other interested parties, a simultaneous webcast can be accessed at the investor relations section of the Company's website located at&nbsp;<a href="https://www.cyilimited.com/" target="_blank" rel="nofollow">http://www.cyilimited.com</a>. Participants are encouraged to join the webcast at least 10 minutes prior to the scheduled start time. The recorded webcast will be available on the website shortly after the earnings call.

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.&nbsp; GYMCL also produces diesel power generators.&nbsp; The engines produced by GYMCL range from diesel to natural gas and hybrid engines.&nbsp; 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.&nbsp; Founded in 1951, GYMCL has established a reputable brand name, strong research and development team and significant market share in&nbsp;China&nbsp;with high-quality products and reliable after-sales support.&nbsp; In 2022, GYMCL sold 321,256 engines and is recognized as a leading manufacturer and distributor of engines in&nbsp;China. For more information, please visit&nbsp;<a href="https://www.cyilimited.com/" target="_blank" rel="nofollow">http://www.cyilimited.com</a>.

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&nbsp;China&nbsp;including those discussed in&nbsp;China&nbsp;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. Among others, if the COVID-19 pandemic is not effectively and timely controlled, our business operations and financial condition may be materially and adversely affected due to a deteriorating market for automotive sales, an economic slowdown in&nbsp;China&nbsp;and abroad, a potential weakening of the financial condition of our customers, or other factors that we cannot foresee. 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.

<h1>China Yuchai International Announces Unaudited 2022 Second Half-Year and Full Year Financial Results</h1>China Yuchai International Limited&nbsp;(NYSE: CYD)&nbsp;("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in&nbsp;China&nbsp;through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), wishes to announce today its unaudited consolidated financial results for the 2022 second half-year ("2H 2022") and fiscal year ("FY 2022") ended&nbsp;December 31, 2022. &nbsp;The financial information presented herein for the second half year and fiscal year of 2022 and the second half year ("2H 2021") and fiscal year ("FY 2021") ended&nbsp;December 31, 2021&nbsp;is reported using the International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board.&nbsp;Financial Highlights for 2H 2022Revenue wasRMB 7.5 billion(US$ 1.1 billion) compared withRMB 8.6 billionin 2H 2021;Gross profit wasRMB 1.3 billion(US$ 182.4 million) compared withRMB 1.3 billionin 2H 2021. Gross margin was 17.0% in 2H 2022 compared with 15.4% in 2H 2021;Operating profit grew by 41.2% toRMB 231.3 million(US$ 33.2 million) compared withRMB 163.8 millionin 2H 2021;Basic and diluted earnings per share increased by 565.2% toRMB 3.06(US$ 0.44)compared withRMB 0.46in 2H 2021;Total number of engines sold decreased by 18.1% to 140,345 units compared with 171,449 units in 2H 2021.Revenue was&nbsp;RMB 7.5 billion&nbsp;(US$ 1.1 billion) compared with&nbsp;RMB 8.6 billion&nbsp;in 2H 2021.The total number of engines sold by GYMCL in 2H 2022 declined by 18.1% to 140,345 units compared with 171,449 units in 2H 2021. The decrease was mainly due to lower engine sales in the truck, bus, marine and power generation application markets, partially offset by higher sales in agricultural and industrial engines. &nbsp;According to data reported by the China Association of Automobile Manufacturers ("CAAM"), in 2H 2022, commercial vehicle unit sales (excluding sales of gasoline-powered and electric-powered vehicles) decreased by 26.3% compared to 2H 2021, as sales of trucks and buses declined by 27.5% and 18.4% respectively, reflecting weak demand in these market segments.&nbsp;Gross profit was&nbsp;RMB 1.3 billion&nbsp;(US$ 182.4 million), compared with the same amount of&nbsp;RMB 1.3 billion&nbsp;in 2H 2021. Gross margin increased to 17.0% as compared with 15.4% in 2H 2021. &nbsp;The increase in gross margin was mainly attributable to a change in revenue mix with an increase in off-road segment over the on-road segment, cost reductions, and lower sales rebates.Other operating income increased by 22.9% to&nbsp;RMB 251.3 million&nbsp;(US$ 36.1 million) compared with&nbsp;RMB 204.5 million&nbsp;in 2H 2021. The increase was mainly due to higher government grants.Research and development ("R&amp;D") expenses decreased by 19.7% to&nbsp;RMB 428.0 million&nbsp;(US$ 61.4 million) compared with&nbsp;RMB 533.1 million&nbsp;in 2H 2021 due to lower R&amp;D expenses incurred in commercial vehicle engines that were partially offset by higher R&amp;D expenses incurred in marine engines and power generation engines and new energy products. Total R&amp;D expenditures, including capitalized costs, were&nbsp;RMB 540.8 million&nbsp;(US$ 77.6 million) representing 7.3% of revenue in 2H 2022, as compared to&nbsp;RMB 712.2 million&nbsp;representing 8.3% of revenue in 2H 2021.Selling, general and administrative ("SG&amp;A") expenses increased slightly to&nbsp;RMB 862.1 million&nbsp;(US$ 123.8 million) from&nbsp;RMB 835.9 million&nbsp;in 2H 2021. &nbsp;The increase was mainly due to increased warranty expenses compared with the same period last year. SG&amp;A expenses represented 11.6% of revenue for 2H 2022 compared with 9.7% in 2H 2021.Operating profit rose by 41.2% to&nbsp;RMB 231.3 million&nbsp;(US$ 33.2 million) from&nbsp;RMB 163.8 million&nbsp;in 2H 2021. The operating margin was 3.1% compared with 1.9% in 2H 2021.Finance costs declined by 15.3% to&nbsp;RMB 40.2 million&nbsp;(US$ 5.8 million) from&nbsp;RMB 47.5 million&nbsp;in 2H 2021. &nbsp;The share of financial results of the associates and joint ventures was a profit of&nbsp;RMB 1.8 million&nbsp;(US$ 0.3 million) compared with a loss of&nbsp;RMB 108.4 million&nbsp;in 2H 2021. &nbsp;This gain was largely due to higher profit at the MTU Yuchai Power Company Limited and the share of lower losses at Y&amp;C Engine Co. Ltd.Income tax expense was&nbsp;RMB 2.6 million&nbsp;(US$ 0.4 million) as compared with an income tax credit of&nbsp;RMB 42.4 million&nbsp;in 2H 2021. The change was mainly due to the higher taxable income in 2H 2022.Net profit attributable to equity holders of the Company was&nbsp;RMB 124.9&nbsp;million (US$ 17.9 million) compared with&nbsp;RMB 19.0&nbsp;million in 2H 2021.Basic and diluted earnings per share were&nbsp;RMB 3.06&nbsp;(US$ 0.44)&nbsp;compared with&nbsp;RMB 0.46&nbsp;in 2H 2021.Basic and diluted earnings per share for 2H 2022 and 2H 2021 were based on a weighted average of 40,858,290 shares.&nbsp;Financial Highlights for FY 2022&nbsp;Revenue decreased toRMB 16.0 billion(US$ 2.3 billion) compared withRMB 21.3 billionin FY 2021;Gross profit wasRMB 2.6 billion(US$ 377.7 million), a 16.4% gross margin, compared withRMB 3.0 billionand a gross margin of 13.9% in FY 2021;Operating profit wasRMB 519.3 million(US$ 74.6 million) compared withRMB 663.5 millionin FY 2021;Basic and diluted earnings per share wereRMB 5.35(US$ 0.77)compared withRMB 6.67in FY 2021;Total number of engines sold decreased by 29.7% to 321,256 units compared with 456,791 units in FY 2021.Revenue was&nbsp;RMB 16.0 billion&nbsp;(US$ 2.3 billion) compared with&nbsp;RMB 21.3 billion&nbsp;in FY 2021.The total number of engines sold by GYMCL in FY 2022 decreased by 29.7% to 321,256 units compared with 456,791 units in FY 2021. The decrease was mainly due to weakness in the truck and bus markets, and the markets of marine and power generation engines.&nbsp;According to CAAM, commercial vehicle unit sales (excluding sales of gasoline-powered and electric-powered vehicles) decreased by 41.4% in FY 2022, as sales of trucks declined by 42.9% while sales of buses decreased by 27.1%. The impact of COVID-19 restrictions and related supply chain disruptions impacted market conditions in&nbsp;China&nbsp;and in foreign markets.Gross profit decreased by 10.9% to&nbsp;RMB 2.6 billion&nbsp;(US$ 377.7 million) compared with&nbsp;RMB 3.0 billion&nbsp;in FY 2021.&nbsp; Gross margin increased to 16.4% compared with 13.9% in FY 2021.&nbsp; The increase in gross margin was mainly attributable to a change in revenue mix with higher off-road revenue as a greater proportion of the total revenue, and lower sales rebates.Other operating income increased by 6.5% to&nbsp;RMB 336.8 million&nbsp;(US$ 48.4 million) compared with&nbsp;RMB 316.2 million&nbsp;in FY 2021. The increase was mainly due to higher government grants.&nbsp;R&amp;D expenses decreased by 1.5% to&nbsp;RMB 836.4 million&nbsp;(US$ 120.1 million) compared with&nbsp;RMB 848.8 million&nbsp;in FY 2021. GYMCL continued with its initiatives to improve engine performances and the qualities of its engines compliant with&nbsp;China's&nbsp;National VI and Tier 4 emission standards, and to develop new energy products.&nbsp; In FY 2022, total R&amp;D expenditures including capitalized costs were&nbsp;RMB 1.0 billion&nbsp;(US$ 146.1 million) compared with&nbsp;RMB 1.2 billion&nbsp;in FY 2021, representing 6.4% of the revenue compared with 5.5% in FY 2021.&nbsp;SG&amp;A expenses were&nbsp;RMB 1.6 billion&nbsp;(US$ 231.4 million) representing 10.1% of the revenue compared with&nbsp;RMB 1.8 billion, representing 8.3% of the revenue in FY 2021.&nbsp; This decrease was mainly due to lower freight, personnel and warranty expenses.Operating profit was&nbsp;RMB 519.3 million&nbsp;(US$ 74.6 million), down from&nbsp;RMB 663.5 million&nbsp;in FY 2021. The operating margin was 3.2% compared with 3.1% in FY 2021.Finance costs decreased by 17.6% to&nbsp;RMB 95.5 million&nbsp;(US$ 13.7 million) from&nbsp;RMB 115.9 million&nbsp;in FY 2021.&nbsp;The share of financial results of the associates and joint ventures was a loss of&nbsp;RMB 29.1 million&nbsp;(US$ 4.2 million) compared with a loss of&nbsp;RMB 95.9 million&nbsp;in FY 2021. &nbsp;The decreased loss was primarily attributable to higher profit at the MTU Yuchai Power Company Limited and the share of lower losses at Y&amp;C Engine Co. Ltd. &nbsp;Income tax expense was&nbsp;RMB 59.1 million&nbsp;(US$ 8.5 million) as compared with&nbsp;RMB 43.8 million&nbsp;in FY 2021.Net profit attributable to China Yuchai's shareholders was&nbsp;RMB 218.6 million&nbsp;(US$ 31.4 million) compared with&nbsp;RMB 272.7 million&nbsp;in FY 2021.Basic and diluted earnings per share were&nbsp;RMB 5.35&nbsp;(US$ 0.77)&nbsp;compared with&nbsp;RMB 6.67&nbsp;in FY2021.&nbsp;Basic and diluted earnings per share for FY 2022 and FY 2021 were based on a weighted average of 40,858,290 shares. &nbsp;&nbsp;Balance Sheet Highlights as at&nbsp;December 31, 2022Cash and bank balances wereRMB 4.9&nbsp;billion (US$ 696.5 million) compared withRMB 5.3&nbsp;billion at the end of FY 2021;&nbsp;Trade and bills receivables wereRMB 6.8&nbsp;billion (US$ 975.4 million) compared withRMB 6.8&nbsp;billion at the end of &nbsp;FY 2021;Inventories wereRMB 4.9&nbsp;billion (US$ 709.0 million) compared withRMB 5.2&nbsp;billion at the end of FY 2021;&nbsp;Trade and bills payables wereRMB 6.9&nbsp;billion (US$ 993.5 million) compared withRMB 7.4&nbsp;billion at the end of FY 2021;Short-term and long-term bank borrowings wereRMB 2.3&nbsp;billion (US$ 336.2 million) compared withRMB 2.2&nbsp;billion at the end of FY 2021. &nbsp;Mr.&nbsp;Weng Ming Hoh, President of China Yuchai, commented, "Our results once again demonstrated the strong resilience of our businesses in selling into diversified engine markets."&nbsp;&nbsp;"Market demand for trucks and buses was down significantly in the second half and for the full year of 2022.&nbsp; Chinese economic growth was weak in 2022 and investment in the property markets declined affecting demand for trucks.&nbsp; In addition, slower global economic growth also affected Chinese exports. &nbsp;The COVID-19 pandemic-related lockdowns and travel restrictions impacted the supply chain and affected commercial vehicle production in 2022.""However, many COVID-19 restrictions have recently been rescinded creating more opportunities for growth in the future.&nbsp; We continued to maintain a strong balance sheet despite the weak operating environment," Mr. Hoh concluded.Disclaimer Regarding Unaudited Financial Results&nbsp;Investors should note that the Company has not yet finalized its consolidated financial results for FY 2022. &nbsp;The financial information of the Company presented above is unaudited and may differ materially from the audited financial statements of the Company for FY 2022 to be released when it is available.&nbsp;Exchange Rate InformationThe Company's functional currency is the U.S. dollar and its reporting currency is Renminbi. The translation of amounts from Renminbi to U.S. dollars is solely for the convenience of the reader. Translation of amounts from Renminbi to U.S. dollars has been made at the rate of&nbsp;RMB 6.9646&nbsp;=&nbsp;US$1.00, the rate quoted by the People's Bank of&nbsp;China&nbsp;at the close of business on&nbsp;December 31, 2022. &nbsp;No representation is made that the Renminbi amounts could have been, or could be, converted into U.S. dollars at that rate or at any other certain rate on&nbsp;December 31, 2022&nbsp;or at any other date.Unaudited 2H 2022 and FY 2022 Conference CallA conference call and audio webcast for the investment community has been scheduled for&nbsp;8:00 A.M. Eastern Standard Time&nbsp;on&nbsp;February 23, 2022. The call will be hosted by the President and Chief Financial Officer of China Yuchai, Mr.&nbsp;Weng Ming Hoh&nbsp;and Mr.&nbsp;Choon Sen Loo&nbsp;respectively, who will present and discuss the financial results and business outlook of the Company followed with a Q&amp;A session.Analysts and institutional investors may participate in the conference call by registering at:&nbsp;<a href="https://register.vevent.com/register/BIadf79c13ba63410187ba354842c0be45" target="_blank" rel="nofollow">https://register.vevent.com/register/BIadf79c13ba63410187ba354842c0be45</a>&nbsp;at least one hour before the scheduled start time.&nbsp; A return email will be sent with instructions and numbers to join the call.For all other interested parties, a simultaneous webcast can be accessed at the investor relations section of the Company's website located at&nbsp;<a href="https://www.cyilimited.com/" target="_blank" rel="nofollow">http://www.cyilimited.com</a>. Participants are encouraged to join the webcast at least 10 minutes prior to the scheduled start time. The recorded webcast will be available on the website shortly after the earnings call.About China Yuchai InternationalChina 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.&nbsp; GYMCL also produces diesel power generators.&nbsp; The engines produced by GYMCL range from diesel to natural gas and hybrid engines.&nbsp; 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.&nbsp; Founded in 1951, GYMCL has established a reputable brand name, strong research and development team and significant market share in&nbsp;China&nbsp;with high-quality products and reliable after-sales support.&nbsp; In 2022, GYMCL sold 321,256 engines and is recognized as a leading manufacturer and distributor of engines in&nbsp;China. For more information, please visit&nbsp;<a href="https://www.cyilimited.com/" target="_blank" rel="nofollow">http://www.cyilimited.com</a>.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&nbsp;China&nbsp;including those discussed in&nbsp;China&nbsp;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. Among others, if the COVID-19 pandemic is not effectively and timely controlled, our business operations and financial condition may be materially and adversely affected due to a deteriorating market for automotive sales, an economic slowdown in&nbsp;China&nbsp;and abroad, a potential weakening of the financial condition of our customers, or other factors that we cannot foresee. 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.

Electricity / Gas / Resources / Energy

China Yuchai International Announces Unaudited 2022 Second Half-Year and Full Year Financial Results

China Yuchai International Limited (NYSE: CYD)&nbsp;("China Yuchai" or the "Company") wishes to announce that the Board of Directors of the Company has approved the appointment of Mr.&nbsp;Wong Hong Wai&nbsp;as a Director of China Yuchai with effect from&nbsp;March 1, 2023.&nbsp;

Mr. Wong joins the Board with over 35 years of working experience in&nbsp;China,&nbsp;Germany,&nbsp;Japan,&nbsp;Singapore,&nbsp;Switzerland&nbsp;and the United States.&nbsp;He is presently an Innovation Advisor with Innovation Partner for Impact, a subsidiary of Enterprise Singapore, and an Associate Faculty Member with the Singapore Institute of Technology.&nbsp;Prior to this, Mr. Wong was with General Motors ("GM") for 29 years and has extensive experiences in areas such as M&amp;A, new business development, strategic alliance management, sales/marketing, strategic risk management, business strategy, product portfolio planning, global procurement, and business process re-engineering. Besides operational roles, he also held governance responsibilities as a board member in several GM China&nbsp;group companies and was the shareholder representative of GM's joint venture investment holding in&nbsp;Hong Kong. Additionally, he was the Risk Officer for GM China and a member of GM's Global Risk Advisory Council which had strategic risk management oversight for all of GM's global businesses.

Prior to GM, Mr. Wong was with the Singapore Economic Development Board, responsible for investment marketing and development of several industry clusters such as aerospace, marine and oilfield equipment, process engineering and automotive component manufacturing.

Mr. Wong is a member of the Singapore Institute of Directors and a Fellow of the Singapore Institute of Arbitrators. He holds a Bachelor of Engineering (Production and Industrial Engineering) degree from the Ulm&nbsp;University of Applied Sciences&nbsp;in&nbsp;Germany&nbsp;and a Master of Business Administration from the&nbsp;National University of Singapore. He has also completed an Executive Program at the Stephen M. Ross School of Business at the&nbsp;University of Michigan, U.S.A.

The Board of Directors welcomes Mr. Wong and believes his extensive business experience and technical expertise will contribute to the future success of the Company. With the new appointment, the Board now comprises 10 members of which three are independent directors.

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&nbsp;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&nbsp;China. Founded in 1951, GYMCL has established a reputable brand name, strong research and development team and significant market share in&nbsp;China&nbsp;with high-quality products and reliable after-sales support. In 2021, GYMCL sold 456,791 engines and is recognized as a leading manufacturer and distributor of engines in&nbsp;China. For more information, please visit&nbsp;<a href="http://www.cyilimited.com/" target="_blank" rel="nofollow">http://www.cyilimited.com</a>.

Email:&nbsp;<a href="mailto:cyd@bluefocus.com" target="_blank" rel="nofollow">cyd@bluefocus.com</a>

<h1>China Yuchai Appoints New Director</h1>China Yuchai International Limited (NYSE: CYD)&nbsp;("China Yuchai" or the "Company") wishes to announce that the Board of Directors of the Company has approved the appointment of Mr.&nbsp;Wong Hong Wai&nbsp;as a Director of China Yuchai with effect from&nbsp;March 1, 2023.&nbsp;Mr. Wong joins the Board with over 35 years of working experience in&nbsp;China,&nbsp;Germany,&nbsp;Japan,&nbsp;Singapore,&nbsp;Switzerland&nbsp;and the United States.&nbsp;He is presently an Innovation Advisor with Innovation Partner for Impact, a subsidiary of Enterprise Singapore, and an Associate Faculty Member with the Singapore Institute of Technology.&nbsp;Prior to this, Mr. Wong was with General Motors ("GM") for 29 years and has extensive experiences in areas such as M&amp;A, new business development, strategic alliance management, sales/marketing, strategic risk management, business strategy, product portfolio planning, global procurement, and business process re-engineering. Besides operational roles, he also held governance responsibilities as a board member in several GM China&nbsp;group companies and was the shareholder representative of GM's joint venture investment holding in&nbsp;Hong Kong. Additionally, he was the Risk Officer for GM China and a member of GM's Global Risk Advisory Council which had strategic risk management oversight for all of GM's global businesses.Prior to GM, Mr. Wong was with the Singapore Economic Development Board, responsible for investment marketing and development of several industry clusters such as aerospace, marine and oilfield equipment, process engineering and automotive component manufacturing.Mr. Wong is a member of the Singapore Institute of Directors and a Fellow of the Singapore Institute of Arbitrators. He holds a Bachelor of Engineering (Production and Industrial Engineering) degree from the Ulm&nbsp;University of Applied Sciences&nbsp;in&nbsp;Germany&nbsp;and a Master of Business Administration from the&nbsp;National University of Singapore. He has also completed an Executive Program at the Stephen M. Ross School of Business at the&nbsp;University of Michigan, U.S.A.The Board of Directors welcomes Mr. Wong and believes his extensive business experience and technical expertise will contribute to the future success of the Company. With the new appointment, the Board now comprises 10 members of which three are independent directors.About China Yuchai InternationalChina 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&nbsp;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&nbsp;China. Founded in 1951, GYMCL has established a reputable brand name, strong research and development team and significant market share in&nbsp;China&nbsp;with high-quality products and reliable after-sales support. In 2021, GYMCL sold 456,791 engines and is recognized as a leading manufacturer and distributor of engines in&nbsp;China. For more information, please visit&nbsp;<a href="http://www.cyilimited.com/" target="_blank" rel="nofollow">http://www.cyilimited.com</a>.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&nbsp;China&nbsp;including those discussed in&nbsp;China&nbsp;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. Among others, if the COVID-19 pandemic is not effectively and timely controlled, our business operations and financial condition may be materially and adversely affected due to a deteriorating market for automotive sales, an economic slowdown in&nbsp;China&nbsp;and abroad, a potential weakening of the financial condition of our customers, or other factors that we cannot foresee. 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 RelationsKevin TheissTel: +1-212-521-4050Email:&nbsp;<a href="mailto:cyd@bluefocus.com" target="_blank" rel="nofollow">cyd@bluefocus.com</a>