SINGAPORE, Oct. 1 /Xinhua-PRNewswire-FirstCall/ -- China Yuchai
International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced
that on September 30, 2008, the Company filed the following press release with
the U.S. Securities and Exchange Commission on Form 6-K.
SINGAPORE, September 30, 2008 - China Yuchai International Limited (NYSE:
CYD) ("China Yuchai" or the "Company") today announced that, despite working
diligently over the past few months to bring itself into compliance with its
financial reporting disclosure requirements, it requires additional time,
beyond the third quarter of 2008, to complete its consolidated financial
statements for the fiscal year 2007. The delay is due to: the need to restate
the Company's 2005 audited consolidated financial statements, which were filed
with the United States Securities and Exchange Commission on Form 20-F/A on
May 30, 2008 and thereafter, the completion and filing of its 2006 audited
consolidated financial statements on Form 20-F only on July 17, 2008.
China Yuchai had intended, as previously disclosed, to announce its
unaudited consolidated financial results for 2007 but made the decision to
defer any release until the finalization of the outstanding financial
statements. As shareholders are aware, the Company had, on August 8, 2008
released the non-US GAAP 2007 operating results of Guangxi Yuchai which was
necessitated as a result of Guangxi Yuchai's intention to apply for approval
to issue short term financing bonds in the PRC. The Company is in the process
of consolidating Guangxi Yuchai's financial data in accordance with US GAAP.
The Company would like to assure its shareholders that its management and
staff are in the final stages of finalizing the outstanding financial
statements and will release them as soon as they become available.
About China Yuchai International
China Yuchai International Limited, through its subsidiary, Guangxi Yuchai
Machinery Company Limited ("GYMCL"), engages in the manufacture, assembly, and
sale of a wide array of light-duty, medium-sized and heavy-duty diesel engines
for construction equipment, trucks, buses, and cars in China. GYMCL also
produces diesel power generators, which are primarily used in the construction
and mining industries. Through its regional sales offices and authorized
customer service centers, the Company distributes its diesel engines directly
to auto OEMs and retailers and provides maintenance and retrofitting services
throughout China. Founded in 1951, GYMCL has established a reputable brand
name, strong research & development team and significant market share in China
with high-quality products and reliable after-sales support. In 2007, GYMCL
sold approximately 383,000 diesel engines and was consistently ranked No. 1 in
unit sales by China Association of Automobile Manufacturers. For more
information, please visit http://www.hlcorp.com.sg/cyi.
For more information, please contact:
Kevin Theiss / Dixon Chen
Grayling Global
Tel: +1-646-284-9409
Email: ktheiss@hfgcg.com
dchen@hfgcg.com
SOURCE China Yuchai International Limited
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