China Yuchai International Limited announced its unaudited consolidated financial results for the second half and full year ended December 31, 2024, on February 25, 2025. For the full year 2024, revenue increased by 6.0% to RMB 19.1 billion (US$2.7 billion) from RMB 18.0 billion in FY 2023.
Total engine sales for FY 2024 rose by 13.7% to 356,586 units, compared with 313,493 units in FY 2023. This performance significantly outpaced the 2.6% year-over-year decrease in sales of commercial vehicles in China, as reported by the China Association of Automobile Manufacturers.
Net profit attributable to equity holders of the Company increased by 13.2% to RMB 323.1 million (US$44.9 million) for FY 2024, up from RMB 285.5 million in FY 2023. Basic and diluted earnings per share for the full year were RMB 8.21 (US$1.14), compared with RMB 6.99 in FY 2023.
Gross profit for FY 2024 increased by 10.8% to RMB 2.8 billion (US$392.1 million), with the gross margin improving to 14.7% from 14.1% in FY 2023. The share of financial results from associates and joint ventures also saw a robust increase of 63.6% to RMB 101.5 million (US$14.1 million), primarily driven by higher profits at MTU Yuchai Power Company Limited and profitability achieved by Y&C Engine Co., Ltd. and Guangxi Purem Yuchai Automotive Technology Co., Ltd.
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