China Yuchai Announces that GYMCL's Chairman Yan Ping has been Elected President of the 6th Council of the China Internal Combustion Engine Industry Association
SINGAPORE, Jan. 24, 2018 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that Mr. Yan Ping, a Director of China Yuchai and the Chairman of GYMCL and Guangxi Yuchai Machinery Group Company Limited, was elected as President of the 6th Council of the China Internal Combustion Engine Industry Association ("CICEIA").
With the recommendation of CICEIA and the approval of the China Machinery Industry Federation, on January 22, 2018, the 6th National Members' Congress of CICEIA voted Mr. Yan to be its next President. His election will be reported to China's State-owned Assets Supervision and Administration Commission, the Ministry of Civil Affairs of the People's Republic of China and the China Machinery Industry Federation by CICEIA according to related regulations.
As Council President, Mr. Yan will promote and guide the development of China's internal combustion engine industry, and contribute to the technical progress of the internal combustion engine industry.
CICEIA was established on July 20, 1991 and is approved by the Ministry of Civil Affairs. The association comprises voluntary internal combustion engine and parts manufacturing enterprises, Research & Development (R&D) units, colleges, universities and related social organizations. CICEIA, a national industry organization with more than 1,800 members, received the qualification of "China Social Organization Level Assessment 4A" from the Ministry of Civil Affairs in 2015.
CICEIA is responsible for implementing national policies, safeguarding the overall interests of, and revitalizing, China's internal combustion engine industry. The purpose of CICEIA is to be a "conduit" between the government and industry. The main functions of CICEIA are policy research, information services, development of industry standards, trade coordination, industry self-discipline, exhibition services, international communication and industry training.
Mr. Weng Ming Hoh, President of China Yuchai, commented, "We wish to congratulate Yan Ping for his election to this prestigious industry leadership position. His election reflects the industry position and contributions of GYMCL to the domestic internal combustion engine industry. In addition to our broad line of advanced internal combustion engines, we have been advocates for lower emissions. We have been among the first to introduce green technologies that lower emissions and engines that meet next generation emission standards well before implementation. As Council President, Mr. Yan will be able to provide greater insight into future government policies and industry trends."
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 variety of light-, medium- and heavy-duty engines for trucks, buses, passenger vehicles, construction equipment, marine and agriculture applications in China. GYMCL also produces diesel power generators. The engines produced by GYMCL range from diesel to natural gas and hybrid engines. Through its regional sales offices and authorized customer service centers, the Company distributes its 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 and development team and significant market share in China with high-quality products and reliable after-sales support. In 2016, GYMCL sold 320,424 engines and is recognized as a leading manufacturer and distributor of engines in China. For more information, please visit http://www.cyilimited.com.
Safe Harbor Statement
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe", "expect", "anticipate", "project", "targets", "optimistic", "confident that", "continue to", "predict", "intend", "aim", "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements including, but not limited to, statements concerning the Company's operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world and in China including those discussed in the Company's Form 20-Fs under the headings "Risk Factors", "Results of Operations" and "Business Overview" and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date they are made and the Company specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.
For more information, please contact:
Kevin Theiss
Phone: +1 646-726-6511
Email: cyd@bluefocus.com
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