, Singapore
109 views

Hong Leong Asia’s China Yuchai H1 revenue falls 32.2%

The fall in revenue was attributed to lower motor sales in the half-year.

Hong Leong Asia’s engine manufacturer China Yuchai International Limited reported a fall of 32.2% year-on-year (YoY) to $1.78b in its revenue for the first half of 2022.

Total engines sold in H1 2022 were 180,911 units, 36.6% lower than the same period last year. Truck and bus engine sales declined by 56.8% whilst off-road engine sales decreased by12.7%.

ALSO READ: CapitaLand Investment Limited reports S$346m PATMI in H1

The fall in sales was the direct result of lower sales of commercial vehicles which declined by 49.7% YoY. Truck unit sales fell by 50.9% whilst sales of buses went down by 35.1%. The low industry sales were attributed to lower demand from a high base in H1 2021 which caused weaker commercial vehicle demand.

China Yuchai’s gross profit fell to $277.90m in H1 2022 from $330m from the same time last year. However, gross margins increased by 15.9% in H1 2022 compared to 12.9% in H1 2021, attributable to the improved margin in National VI engine sales and increased sales mix in the off-road segment.

China Yuchai’s shares for the H1 2022 period reached US$0.40 per ordinary share.
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!