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China Yuchai International Limited (CYD) Second Half and Full Year 2023 Earnings Call Transcript Summary

China Yuchai International Limited (CYD) Second Half and Full Year 2023 Earnings Call Transcript Summary

中国玉柴国际有限公司(CYD)2023年下半年和全年财报电话会议记录摘要
moomoo AI ·  02/27 15:45  · 电话会议

The following is a summary of the China Yuchai International Limited (CYD) Second Half and Full Year 2023 Earnings Call Transcript:

以下是中国玉柴国际有限公司(CYD)下半年和2023年全年财报电话会议记录摘要:

Financial Performance:

财务业绩:

  • China Yuchai International Limited reported an increase in revenue by 18.9% in the second half of 2023 and 12.6% for the full year 2023.

  • The gross profit, operating profit and earnings per share all increased by double-digits in 2023.

  • Strong balance sheet maintained, with cash and bank balances at RMB6 billion ($852.7 million) as at 31st December 2023.

  • The Board of Directors declared a cash dividend of $0.28 per ordinary share, paid in August 2023.

  • FY 2023 revenue was RMB18 billion ($2.5 billion), improving from RMB16 billion in FY 2022, but unit sales decreased by 2.4% to 313,493 units.

  • Gross profit increased by 16.7% with an improved gross margin of 16.2% due to higher revenue from heavy-duty engines and cost reduction initiatives.

  • Operating profit and Net profit rose by 17.4% and 30.6% respectively.

  • Earnings per share increased to RMB6.99 or $0.99 from RMB5.35 in FY 2022.

  • 中国玉柴国际有限公司报告称,2023年下半年的收入增长了18.9%,2023年全年收入增长了12.6%。

  • 2023 年,毛利、营业利润和每股收益均增长了两位数。

  • 资产负债表保持强劲,截至2023年12月31日,现金和银行余额为人民币60亿元(8.527亿美元)。

  • 董事会宣布现金股息为每股普通股0.28美元,于2023年8月支付。

  • 2023财年的收入为 RMB18 亿美元(25亿美元),较2022财年的 RMB16 亿美元有所增加,但单位销售额下降了2.4%,至313,493辆。

  • 由于重型发动机的收入增加和成本削减计划,毛利率增长了16.7%,毛利率提高了16.2%。

  • 营业利润和净利润分别增长了17.4%和30.6%。

  • 每股收益从2022财年的人民币5.35元增至人民币6.99元或0.99美元。

Business Progress:

业务进展:

  • Sales of truck and bus engines increased by 4% for the second half of 2023, with bus engine unit sales growing 34.5% year-over-year.

  • Heavy-duty truck engine unit sales improved due to increased logistical and new truck demand.

  • R&D expenditures, including capitalized costs, were RMB1.1 million or $150.3 million, focusing on performance enhancement of National VIb and Tier 4 emissions standard compliant engines and new energy products.

  • Hybrid engine YCA07N powers over 1,200 buses in Nanjing.

  • Marine and power generation businesses merged to form the Guangxi Yuchai Marine and Genset Power Company Limited.

  • The market for vehicle engines, especially heavy-duty and medium-duty, is expected to grow between 10% to 15% in 2024.

  • The company plans to maintain the same level of travelling and staff service expenses in 2024 due to their efforts in improving sales and launching new or upgraded engines.

  • 2023年下半年,卡车和客车发动机的销量增长了4%,客车发动机的销量同比增长了34.5%。

  • 由于物流和新卡车需求的增加,重型卡车发动机销量有所改善。

  • 包括资本化成本在内的研发支出为人民币110万元或1.503亿美元,主要用于提高符合国家ViB和Tier 4排放标准的发动机和新能源产品的性能。

  • 混合动力发动机 YCA07N 为南京的 1,200 多辆公交车提供动力。

  • 船舶和发电业务合并成立了广西玉柴船用发电有限公司。

  • 预计到2024年,汽车发动机的市场,尤其是重型和中型发动机的市场将增长10%至15%。

  • 该公司计划在2024年将差旅和员工服务费用维持在相同水平,原因是他们努力提高销售和推出新的或升级的发动机。

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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