CHINA YUCHAI INTERNATIONAL LIMITED
Table of Contents

 
 
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 6-K
 
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934
For the Month of October 2007
Commission File Number 1-13522
 
China Yuchai International Limited
(Translation of Registrant’s name into English)
 
16 Raffles Quay #26-00
Hong Leong Building
Singapore 048581

(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F þ                                        Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
Indicate by check mark whether the Registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o                                        No þ
If “Yes” is marked, indicate below the file number assigned to registrant in connection with Rule 12g3-2(b): Not applicable.
 
 

 


TABLE OF CONTENTS

SIGNATURES
EXHIBITS INDEX
EX-99.1 PRESS RELEASE OF THE COMPANY DATED OCTOBER 24, 2007


Table of Contents

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
China Yuchai International Limited (the “Company”) wishes to caution readers that this Report on Form 6-K contains forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from historical results or those anticipated. Among the risks and factors that could cause actual results to differ materially are: the Company’s ability to control Yuchai; the Company’s ability to consolidate Yuchai’s financial results; changes in the capital markets and interest rates; political, economic and social conditions in China such as government policies with respect to foreign investment, economic growth, inflation and the availability of credit; the effects of competition in the diesel engine market; the effects of inflation; the ability of Yuchai to control its expenses, capital expenditures and receivables, finance its working capital and capital expenditures and commercially introduce new products in the future; the Company’s ability to successfully implement the cooperation agreement it reached with Yuchai in June 2007; the effects of uncertainties in the Chinese legal system which could limit the legal protections available to foreign investors, including with respect to the enforcement of foreign judgments in China. In addition to the foregoing factors, a description of certain other risks and uncertainties which could cause actual results to differ materially can be found in the section captioned “Risk Factors” in the Company’s Annual Report on Form 20-F filed with the SEC under the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise
OTHER EVENTS
1. On October 24, 2007 in Singapore, the Company issued a press release announcing the appointment of Mr. Ho Tuck Chuen as its new Chief Financial Officer. Mr. Ho Tuck Chuen will join the Company on November 15, 2007. The Company also announced that it has retained The Global Consulting Group, a New York-based strategic communications consulting firm, to be its investor relations counsel. A copy of the press release dated October 24, 2007 is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
2. Exhibits
99.1     Press Release of the Company dated October 24, 2007.

 


Table of Contents

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunder duly authorized.
Date: October 24, 2007
         
  CHINA YUCHAI INTERNATIONAL LIMITED
 
 
  By:   /s/ Mr. Teo Tong Kooi    
  Name:   Mr. Teo Tong Kooi   
  Title:   President and CEO   

 


Table of Contents

         
EXHIBITS INDEX
99.1     Press Release of the Company dated October 24, 2007.

 

EX-99.1 PRESS RELEASE OF THE COMPANY
 

CHINA YUCHAI INTERNATIONAL LIMITED
16 Raffles Quay #26-00 Hong Leong Building Singapore 048581
Tel : (65) 6220 8411 Fax : (65) 6226 0502
Exhibit 99.1
FOR IMMEDIATE RELEASE
China Yuchai International Appoints New Chief Financial Officer and
Retains Investor Relations Counsel
Singapore, Singapore — October 24, 2007 — China Yuchai International Limited (NYSE: CYD; “China Yuchai” or the “Company”), the leading manufacturer and distributor of diesel engines in China, today announced the appointment of Mr. Ho Tuck Chuen as its new Chief Financial Officer who will come on board on November 15, 2007. Mr. Ho will take the place of Mr. Philip Ting Sii Tien, the outgoing Chief Financial Officer, who has served the Company in this position since 1994. The Board wishes to thank Mr. Philip Ting for his services and contributions to the Company as the Chief Financial Officer. Mr. Ting will continue with his full-time role as the Chief Financial Officer for Hong Leong Asia Limited, the holding company of China Yuchai.
Mr. Tong Kooi Teo, the President of China Yuchai, commented, “We believe Mr. Ho’s expertise and experience will enhance China Yuchai’s financial planning and reporting, strengthen corporate governance and improve investor communications. China Yuchai’s rapid growth in the Chinese market created the need for improved financial management. Our Board decided to bring in additional resources to help us capture the opportunities for fast growth in China. China Yuchai aims to further penetrate the growing Chinese automotive and construction markets, maintain market leadership and maximize shareholder value.”
Mr. Ho commented, “I am very excited to join China Yuchai, the leading company in the fast-growing Chinese diesel engine market. China Yuchai has a remarkable record of success and it is well positioned as the leader in one of the fastest growing automotive markets in the world. I very much look forward to my role in helping the company achieve its potential and build value for our shareholders.”
Mr. Ho Tuck Chuen has more than 20-years experience in the areas of strategic planning, financial management, accounting, internal controls, audit and tax. His experience covers a wide range of industries including heavy manufacturing, high tech, consumer electronics, specialty chemicals and energy. Mr. Ho was the Chief Financial Officer for Pacific Internet Ltd. (NASDAQ: PCNTF) managing strategic planning, financial management, Securities and Exchange Commission (“SEC”) financial reporting, investor relations, mergers & acquisition and SEC compliance with corporate governance and regulatory requirements. He supervised a team of 65 finance personnel in 7 regional subsidiaries. Before Pacific Internet Ltd., Mr. Ho spent 9 years as a Regional Accounting Director with Sony Electronics Asia Pacific Pte Ltd. He was responsible for accounting, tax and internal controls for the region which spans the United Arab Emirates, South Africa, India, South East Asia and Oceania. Prior to Sony, he also worked at Haw Par Healthcare Ltd., Intergraph Systems South East Asia Pte Ltd, Master Builders Technology Singapore Pte Ltd., Reda Pump Singapore Pte Ltd. (a TRW Automotive company), and Apple Computer Inc. Mr. Ho started his career as senior auditor at Price Waterhouse. He is a Certified Public Accountant in Singapore, Chartered Accountant (Australia) and Chartered Certified Accountant (UK). Mr. Ho holds a Bachelor of Accountancy from the University of Singapore.
China Yuchai also announced it has retained The Global Consulting Group, a leading New York-based strategic communications consulting firm to be its investor relations counsel.
“The Global Consulting Group was selected to represent China Yuchai after a thorough review of numerous candidates,” said Mr. Teo. “The Global Consulting Group’s strong track record in the automotive industry, its keen understanding of China’s market, and its ability to help enhance

 


 

CHINA YUCHAI INTERNATIONAL LIMITED
16 Raffles Quay #26-00 Hong Leong Building Singapore 048581
Tel : (65) 6220 8411 Fax : (65) 6226 0502
shareholder value for its clients were the key reasons we selected them to assist us in our investor relations efforts. We believe that The Global Consulting Group’s effective communications programs and reputation of developing long-term relationships with the investment community will enable China Yuchai to increase investor awareness and visibility.”
About China Yuchai International
China Yuchai International Limited, through its subsidiary, Guangxi Yuchai Machinery Company Limited (“Yuchai”), engages in the manufacture, assembly, and sale of a wide array of light-duty, medium-sized and heavy-duty diesel engines for construction equipment, trucks, buses, and cars in China. Yuchai also produces diesel power generators, which are primarily used in the construction and mining industries. With over 30 regional sales offices and 460 authorized customer service centers, the Company distributes its diesel engines directly to auto OEMs and retailers and provides maintenance and retrofitting services throughout China. Founded in 1951, Yuchai has established a reputable brand name, strong research & development team and significant market share in China with high-quality products and reliable after-sales support. In 2006, Yuchai sold approximately 284,000 diesel engines and was consistently ranked No. 1 in unit sales by China Association of Automobile Manufacturers. The Company’s headquarters are based in Singapore, Singapore. For more information, please visit www.hlcorp.com.sg/cyi.
About The Global Consulting Group
The Global Consulting Group, a wholly owned subsidiary of Huntsworth PLC, is headquartered in New York, with offices in Los Angeles, Sacramento, London, Edinburgh, Madrid, Brussels, Moscow, Shanghai and Tel Aviv. The firm’s 150 employees strategically spread out over 3 continents, services over 200 global clients in 12 languages. The Global Consulting Group focuses on providing consulting services to privately-held and publicly-traded corporate clients in three areas: investor relations, corporate communications and public affairs. For more information, please visit www.hfgcg.com.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “anticipate,” “project,” “targets,” “optimistic,” “intend,” “aim,” “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company’s operations, financial performance and, condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. 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, including those discussed in the Company’s reports filed with the Securities and Exchange Commission from time to time. The Company specifically disclaims any obligation to update the forward-looking information in the future.
For more information, please contact:
Kevin Theiss / Dixon Chen
The Global Consulting Group
Tel:   +1-646-284-9400  
Email:   ktheiss@hfgcg.com
dchen@hfgcg.com