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
UNDER THE SECURITIES EXCHANGE ACT OF 1934

August 8, 2011

Commission File Number 1—13522

China Yuchai International Limited

16 Raffles Quay #26-00
Hong Leong Building
Singapore 048581

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

Exhibit Index
	99.1			Press Release dated August 8, 2011 — China Yuchai International Announces Unaudited Second Quarter 2011 Financial Results
	99.2			Unaudited Financial Statements for second quarter 2011 and six months period ended 30 June 2011.

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, thereunto duly authorized.

Date: August 8, 2011

Exhibit 99.1

China Yuchai International Announces
Unaudited Second Quarter 2011 Financial Results

Singapore, Singapore — August 8, 2011 — China Yuchai International Limited (NYSE: CYD) (“China Yuchai” or the “Company”), announced today its unaudited consolidated financial results for the second quarter and six months ended June 30, 2011.

The financial highlights for the second quarter of 2011 are:

•		Net revenue was RMB 4.0 billion (US$ 620.7 million);
•		Total number of diesel engine units sold was 139,236 compared with 132,092 units in the second quarter of 2010;
•		The gross margin was 19.2%, down from 22.3% in the second quarter of 2010;
•		Total net profit attributable to China Yuchai’s shareholders was RMB 155.1 million (US$ 24.0 million), compared with RMB 179.1 million (US$ 27.7 million) in the second quarter of 2010;
•		Earnings per share of RMB 4.16 (US$ 0.64), compared with RMB 4.81 (US$ 0.74) in the second quarter of 2010;
•		As of June 30, 2011, cash and cash equivalents were RMB 2.9 billion (US$ 452.2 million).

Net revenue for the second quarter of 2011 was RMB 4.0 billion (US$ 620.7 million), which is similar to the second quarter of 2010. Despite the general slowdown in the Chinese truck market, the total number of diesel engines sold by the Company’s main operating subsidiary, Guangxi Yuchai Machinery Company Limited (“GYMCL”), during the second quarter of 2011 was 139,236 units compared with 132,092 units in the second quarter of 2010. This was due to increased sales of light-duty engines as well as engines for off-highway applications (mainly engines used in marine, industrial and agriculture applications).

Gross profit was RMB 771.1 million (US$ 119.2 million) compared with RMB 895.1 million (US$ 138.3 million) in the second quarter of 2010. The gross margin was 19.2% in the second quarter of 2011 as compared with 22.3% a year ago. The lower gross margin was mainly due to a change in product mix during the second quarter and an increase in material costs.

Other income increased to RMB 21.4 million (US$ 3.3 million) from RMB 17.2 million (US$ 2.7 million) in the second quarter of 2010, mainly due to currency exchange gains.

Research and development (“R&D”) expenses were RMB 82.0 million (US$ 12.7 million) compared with RMB 82.9 million (US$ 12.8 million) in the second quarter of 2010. As a percentage of net revenue, R&D spending was 2.0% in the second quarter of 2011 compared with 2.1% in the same quarter last year.

Selling, general & administrative (“SG&A”) expenses in the second quarter of 2011 were RMB 420.2 million (US$ 64.9 million), a reduction of RMB 78.1 million from RMB 498.3 million (US$ 77.0 million) in the second quarter of 2010. These SG&A expenses represented 10.5% of second quarter 2011 net revenue compared with 12.4% for the second quarter of 2010. The decreased expenses resulted mainly from warranty and freight charges and a write-back of doubtful debts provision.

Operating profit declined to RMB 290.2 million (US$ 44.8 million) from RMB 331.1 million (US$ 51.2 million) in the second quarter of 2010, mainly due to lower gross profit. The operating margin was 7.2% in the second quarter of 2011 compared with 8.2% in the second quarter of 2010.

In the second quarter of 2011, net profit attributable to China Yuchai’s shareholders was RMB 155.1 million (US$ 24.0 million), or earnings per share of RMB 4.16 (US$ 0.64), compared with RMB 179.1 million (US$ 27.7 million), or earnings per share of RMB 4.81 (US$ 0.74), in the second quarter of 2010.

Six Months Ended June 30, 2011

For the six months ended June 30, 2011, net revenues were RMB 8.2 billion (US$ 1.3 billion) compared with RMB 9.1 billion (US$ 1.4 billion) in the first six months of 2010. The gross profit was RMB 1.7 billion (US$ 265.0 million) representing a 20.8% gross margin.

Operating profit was RMB 718.7 million (US$ 111.1 million). Selling, general and administrative expenses declined 12.8% from RMB 1.0 billion (US$ 155.5 million) in the first six months of 2010 to RMB 877.3 million (US$ 135.6 million) in the six months ended June 30, 2011.

Net profit attributable to China Yuchai’s shareholders for the six months ended June 30, 2011 was RMB 385.6 million (US$ 59.6 million), or earnings per share of RMB 10.35 (US$ 1.60) versus RMB 450.9 million (US$ 69.7 million), or earnings per share of RMB 12.10 (US$ 1.87) in the same period in 2010.

As of June 30, 2011, the Company had cash and cash equivalents of RMB 2.9 billion (US$ 452.2 million) compared with total short-term and long-term interest bearing loans and borrowings of RMB 1.4 billion (US$ 221.3 million). Total equity attributable to China Yuchai’s shareholders was RMB 5.1 billion (US$ 789.1 million) on June 30, 2011. The total shares issued and outstanding as of June 30, 2011 were 37,267,673 shares.

Mr. Weng Ming Hoh, Acting President and Chief Financial Officer commented, “Our success in selling a greater number of diesel engines in China during the second quarter of 2011 compared with the same quarter a year ago reflect our high-quality, advanced engines and the strength of our diversified product lines. We were able to quickly respond to changes in demand from different diesel engine market segments, providing an advantage over many of our domestic competitors. Sales of our diesel engines in both the off-highway category and our light-duty diesel engines offset lower demand in other market segments in the second quarter of 2011. The Board of Directors of GYMCL recently approved the construction of facilities at GYMCL’s main plant at Yulin City, Guangxi Province, to increase the annual production capacity of marine diesel engines and power generators to meet potential demand over the next few years.”

“Given the PRC government’s current anti-inflationary policies and measures, interest rates have continued to rise and are expected to increase further. The Group continues to explore financing options such as the issuance of short-term financing bonds to improve our profitability, financial flexibility and to meet our working capital requirements,” Mr. Hoh concluded.

Exchange Rate Information

The Company’s functional currency is the U.S. dollar and its reporting currency is Renminbi. The translation of amounts from Renminbi to U.S. dollars is solely for the convenience of the reader. Translation of amounts from Renminbi to U.S. dollars has been made at the rate of RMB 6.4716 = US$ 1.00, the rate quoted by the People’s Bank of China at the close of business on June 30, 2011. No representation is made that the Renminbi amounts could have been, or could be, converted into U.S. dollars at that rate or at any other certain rate on June 30, 2011 or at any other date.

Second quarter 2011 Earnings Web Cast

An audio web cast for the investment community has been scheduled for 8:00 A.M. Eastern Daylight Time today, August 8, 2011. The call will be hosted by the Acting President and Chief Financial Officer, Mr. Weng Ming Hoh, who will present and discuss the financial results and business outlook of the Company, followed by a Q&A session. Mr. Qi Wei Wu, General Manager of GYMCL will be available to answer questions during the Q&A session.

The web cast can be accessed at the investor relations section of the Company’s website located at http://www.cyilimited.com. Participants are requested to log into the web cast at least 5 minutes prior to the scheduled start time. The recorded web cast will be available on the website shortly after the earnings call.

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 array of light-duty, medium-sized and heavy-duty diesel engines for construction equipment, trucks, buses and cars in China. GYMCL also produces diesel power generators, which are primarily used in the construction and mining industries. Through its regional sales offices and 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, 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 2010, GYMCL sold 551,592 diesel engines and is recognised as a leading manufacturer and distributor of diesel 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,” “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 are based on current expectations or beliefs, including, but not limited to, statements concerning the Company’s operations, financial performance and condition. 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 Grayling
		Tel:		+1-646-284-9409
		Email:		kevin.theiss@grayling.com dixon.chen@grayling.com

— tables follow —

CHINA YUCHAI INTERNATIONAL LIMITED
UNAUDITED CONSOLIDATED INCOME STATEMENTS
For the quarter ended June 30, 2011 and 2010
(RMB and US$ amounts expressed in thousands, except per share data)

		30 June 2011								30 June 2010
		RMB '000				US$ '000				RMB '000				US$ '000
Revenue, net			4,017,242				620,749				4,016,043				620,564
Cost of goods sold			3,246,139				501,598				3,120,913				482,248
Gross profit			771,103				119,151				895,130				138,316
Other income			(21,353	)			(3,300	)			(17,179	)			(2,655	)
Research & development costs			81,965				12,665				82,905				12,811
Selling, general and administrative expenses			420,245				64,937				498,258				76,991
Operating profit			290,246				44,849				331,146				51,169
Finance cost			27,976				4,323				37,569				5,805
Share of (profit)/loss of associates			(628	)			(97	)			245				38
Share of loss/(profit) of joint ventures			9,265				1,432				(163	)			(25	)
Profit before tax from continuing operations			253,633				39,191				293,495				45,351
Income tax expense			46,864				7,241				51,924				8,023
Profit for the period			206,769				31,950				241,571				37,328
Attributable to:
Owners of the Parent			155,130				23,971				179,096				27,674
Non-controlling interests			51,639				7,979				62,475				9,654
			206,769				31,950				241,571				37,328
Net earnings per common share			4.16				0.64				4.81				0.74

CHINA YUCHAI INTERNATIONAL LIMITED
UNAUDITED CONSOLIDATED INCOME STATEMENTS
For the six months ended June 30, 2011 and 2010
(RMB and US$ amounts expressed in thousands, except per share data)

		30 June 2011								30 June 2010
		RMB '000				US$ '000				RMB '000				US$ '000
Revenue, net			8,249,584				1,274,736				9,085,601				1,403,919
Cost of goods sold			6,534,337				1,009,694				7,165,303				1,107,192
Gross profit			1,715,247				265,042				1,920,298				296,727
Other income			(40,711	)			(6,291	)			(35,752	)			(5,524	)
Research & development costs			159,962				24,718				150,206				23,210
Selling, general and administrative expenses			877,278				135,558				1,006,004				155,449
Operating profit			718,718				111,057				799,840				123,592
Finance cost			75,342				11,642				76,560				11,830
Share of (profit)/loss of associates			(972	)			(150	)			197				30
Share of loss of joint ventures			27,021				4,175				7,617				1,177
Profit before tax from continuing operations			617,327				95,390				715,466				110,555
Income tax expense			109,057				16,851				116,561				18,011
Profit for the period			508,270				78,539				598,905				92,544
Attributable to:
Owners of the Parent			385,597				59,583				450,888				69,672
Non-controlling interests			122,673				18,956				148,017				22,872
			508,270				78,539				598,905				92,544
Net earnings per common share			10.35				1.60				12.10				1.87

CHINA YUCHAI INTERNATIONAL LIMITED
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(RMB and US$ amounts are expressed in thousands)

		As of December
		31, 2010				As of June 30, 2011
		RMB '000				RMB '000				US$ '000
		(audited)				(unaudited)				(unaudited)
Cash and cash equivalents			4,060,990				2,926,329				452,180
Trade and bills receivable, net			4,234,475				7,365,757				1,138,166
Inventories, net			2,632,860				2,184,166				337,500
Other current assets			452,578				710,961				109,859
Current assets			11,380,903				13,187,213				2,037,705
Property, plant and equipment			3,276,302				3,355,090				518,433
Prepaid operating leases			407,468				393,295				60,772
Goodwill			212,636				212,636				32,857
Investment in associates and joint ventures			552,923				561,444				86,755
Other non-current assets			416,031				319,248				49,331
Non-current assets			4,865,360				4,841,713				748,148
Total assets			16,246,263				18,028,926				2,785,853
Trade and bills payable			5,699,334				6,411,589				990,727
Interest bearing loans and borrowings			423,543				1,211,561				187,212
Other current liabilities			2,769,730				3,018,673				466,449
Current liabilities			8,892,607				10,641,823				1,644,388
Interest bearing loans and borrowings			201,850				220,497				34,071
Deferred grants			269,736				312,511				48,290
Other non-current liabilities			96,143				78,172				12,079
Non-current liabilities			567,729				611,180				94,440
Total liabilities			9,460,336				11,253,003				1,738,828
Equity attributable to owners of the Parent			5,097,947				5,107,041				789,147
Non-controlling interests			1,687,980				1,668,882				257,878
Total equity			6,785,927				6,775,923				1,047,025
Total equity and liabilities			16,246,263				18,028,926				2,785,853

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