Time to Turn Trash to Cash: China Yuchai International Limited (NYSE: CYD)

Financial Highlights for the Third Quarter of 2019.

On 22 Jan 2020, China Yuchai International Limited stock determined change of 8.22% away from 52-week low rate and recently located move of -32.68% off 52-week high cost. CYD stock has actually been tape-recorded -0.64% away from 50 day moving average and -5.04% away from 200 day moving average.

China Yuchai International Limited (CYD) reported just recently its unaudited consolidated monetary results for the third quarter and 9 months ended September 30, 2019 The monetary details provided herein for the third quarter of 2019 and 2018 is mentioned using International Financial Reporting Standards (” IFRS”) as released by the International Accounting Standards Board.

Net earnings increased by 3.7% to RMB 3.3 B ( US$ 467.7 M) contrast with RMB 3.2 B in the third quarter of 2018;

Gross earnings was RMB 524.1 M ( US$ 74.1 M), with a gross margin of 15.8%, contrast with RMB 607.7 M and a gross margin of 19.1% in the 3rd quarter of 2018;

Operating profit was RMB 175.8 M ( US$ 24.9 M) contrast with RMB 251.2 M in the third quarter of 2018;

Net earnings attributable to China Yuchais investors was RMB 50.3 M ( US$ 7.1 M) contrast with RMB 128.5 M in the third quarter of 2018;

Earnings per share were RMB 1.23 (US$ 0.17) contrast with RMB 3.15 in the 3rd quarter of 2018;

The Industrial Goods sector company, China Yuchai International Limited noticed change of 0.15% to $13.43 along volume of 36328 shares in recent session compared to a typical volume of 47.9 K. CYDs shares are at 2.05% for the quarter and driving a -8.76% return throughout the past year and is now at 0.75% given that this point in 2018. Now the stock beta is 1.83.

The total number of engines offered by GYMCL throughout the third quarter of 2019 was 70,140 systems, contrast with 71,062 systems for the exact same quarter in 2015, a decrease of 1.3%. Higher bus, industrial and other engine sales partly offset lower truck and agricultural engine sales contrast with the same quarter last year. Total off-road engine sales increased in the third quarter of 2019.

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The net earnings for the third quarter of 2019 increased by 3.7% to RMB 3.3 B ( US$ 467.7 M) from RMB 3.2 B for the same quarter last year.

According to information specified by the China Association of Automobile Manufacturers (” CAAM”), in the 3rd quarter of 2019, sales of industrial vehicles (not consisting of gas– powered and electric-powered cars) minimized by 2.6% general contrast with the same quarter in 2018. This consisted of a 4.1% reduction in the truck area and an 8.4% increase in the bus section. During this duration, the sales of heavy-duty trucks increased by 3.7% while the medium-duty truck sales declined by 14.2%.

Other operating income was RMB 91.3 M ( US$ 12.9 M) contrast with RMB 44.1 M in the exact same quarter in 2015. The increase was mainly Because of higher federal government grants and greater interest income contrast with the same quarter last year.

Overall number of engines sold was 70,140 systems contrast with 71,062 units in the 3rd quarter of 2018.

Gross earnings lowered by 13.8% to RMB 524.1 M ( US$ 74.1 M) from RMB 607.7 M in the very same quarter in 2015. Gross margin was 15.8% contrast with 19.1% in the same quarter in 2015. The reduction in gross earnings was primarily credited to higher production costs on the National VI engines and rates pressure.

Research Study and Development (” R&D”) expenditures increased by 28.7% to RMB 81.8 M ( US$ 11.6 M) from RMB 63.6 M in the same quarter in 2015. The higher R&D costs were primarily Because of higher consultancy charges and experimental expenses. R&D expenditures were concentrated on brand-new emission engines and enhancing existing engine items. GYMCL continues to further establish brand-new engines in its broadened portfolio of next-generation National VI and Tier 4 emission-compliant engines as well as enhance total engine quality and efficiency. In the 3rd quarter of 2019, the total R&D expense consisting of capitalized costs was RMB 165.0 M ( US$ 23.3 M) and it represented 5.0% of net earnings contrast with RMB 144.3 M, representing 4.5% of net income in the 3rd quarter of 2018.

In the 3rd quarter of 2019, the overall R&D expenditure consisting of capitalized expenses was RMB 165.0 M ( US$ 23.3 M) and it represented 5.0% of net income contrast with RMB 144.3 M, representing 4.5% of net profits in the 3rd quarter of 2018.

On 22 Jan 2020, China Yuchai International Limited stock recognized modification of 8.22% away from 52-week low cost and recently situated relocation of -32.68% off 52-week high price. CYD stock has actually been tape-recorded -0.64% away from 50 day moving average and -5.04% away from 200 day moving average. The total number of engines sold by GYMCL throughout the third quarter of 2019 was 70,140 units, contrast with 71,062 systems for the exact same quarter last year, a decrease of 1.3%. During this period, the sales of heavy-duty trucks increased by 3.7% while the medium-duty truck sales decreased by 14.2%.

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John Diaz

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