China Yuchai International Limited (“CYI”) is a Bermuda holding company established on April 29, 1993. We operate as an exempted company limited by shares under The Companies Act 1981 of Bermuda. On March 7, 2008, CYI registered a branch office in Singapore and has its principal operating office located at No 16 Raffles Quay #39-01A, Hong Leong Building, Singapore 048581.
CYI is a subsidiary of Hong Leong Asia Ltd (“HLA”) which indirectly holds 28.24% of its outstanding ordinary shares as well as one special share. The common stock of CYI is traded on the New York Stock Exchange under the symbol “CYD”.The principal operating subsidiary of CYI is Guangxi Yuchai Machinery Company Limited (“GYMCL”) which is located in Yulin City, Guangxi Zhuang Autonomous Region in southern China. GYMCL is one of the largest medium-duty diesel engine manufacturers in China. It produces and provides a comprehensive range of products from light-duty diesel engines to heavy-duty diesel engines, parts and diesel-powered generators to meet the needs of different sectors. GYMCL has a strong reputation among vehicle manufacturers and customers for the performance and reliability of its products as well as its after-sales customer service. We currently own through six of our wholly-owned subsidiaries, 76.4% of the outstanding shares of GYMCL.In February 2005, the Board of Directors of CYI announced its approval of the implementation of a business expansion and diversification plan. As a result, CYI acquired indirect interests in Thakral Corporation Ltd (“TCL”) and HL Global Enterprises Limited (“HLGE”). Currently we hold a 13.9% and 46.4% interest in TCL and HLGE respectively. The TCL group is a distributor of consumer electronics products with operations mainly in the People’s Republic of China (including Hong Kong). TCL also has other business activities relating to contract manufacturing, property development and investment in the PRC. On December 1, 2009 TCL’s Board of Directors announced a capital reduction and cash distribution exercise subject to receipt of approvals from its shareholders and the regulatory and legal authorities in Singapore. Concurrently with the capital reduction exercise, CYI announced its intention to sell 21% of its total shareholding in TCL through a placement exercise where settlement of the shares purchased would be after the completion of TCL’s capital reduction and cash distribution exercise. On June 9, 2010, TCL announced that the expected date of payment of the cash distribution of S$0.05 per issued share in TCL was July 7, 2010. On July 8, 2010, CYI announced that it had proceeded to complete the sale of 536,000,000 shares out of 550,000,000 shares in TCL available in the placement exercise to the various purchasers and that arising from its sale of the 536,000,000 shares in TCL, it will retain, through its subsidiaries a 13.9% shareholding interest in TCL. CYI has since, sold additional TCL shares in the open market resulting in its shareholding interest in TCL decreasing further from 13.9% to 12.3%.The core businesses of HLGE are hospitality operations and property development. TCL and HLGE are listed on the Main Board of the Singapore Exchange Securities Trading Limited.
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