China Yuchai Subsidiary Wins an Order for 20MW Ferroalloy Off-Gas Power Generation
SINGAPORE, Oct. 3, 2023 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") a leading manufacturer and distributor of engines through its main operating subsidiary in China, Guangxi Yuchai Machinery Company Limited ("GYMCL"), today announced that GYMCL's wholly owned subsidiary, Guangxi Yuchai Marine and Power Genset Co., Ltd. ("MPG"), won a new contract to install Yuchai's ferroalloy off-gas power generation system at a production plant which specializes in silicon-manganese alloys production in Inner Mongolia, China.
The smelting process for producing silicon-manganese alloys will emit a combustible and hazardous ferroalloy off-gas at high temperatures. Yuchai's ferroalloy off-gas power generation system effectively utilizes this off-gas as a fuel resource for power generation, which not only eliminates greenhouse gas emissions but also enhances metal production safety. Upon installation and integration to the local grid, this project is expected to produce more than 160 million kilowatt-hours of electricity per year and greatly reduce carbon dioxide emissions, creating a positive impact on both the economy and the environment.
This Yuchai ferroalloy off-gas power generation system, comprising 16 units of YC16VCN engines, is a newly improved gas power generator produced by MPG to match global standards. The YC16VCN engine is designed to satisfy the requirements for various applications and features high reliability, high efficiency, environmental protection, low maintenance cost, and safety protection. It improves electrical power efficiency by more than 40%.
Mr. Weng Ming Hoh, President of China Yuchai, said, "YC16VCN is a high-performance product that has earned the trust and satisfaction from customers in China and abroad. We will continue to innovate and deliver high-quality, efficient and sustainable power generation solutions that add value to our customers."
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, GYMCL 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 2022, GYMCL sold 321,256 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 China Yuchai group of entities' operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. China Yuchai 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 China Yuchai'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 it is made and China Yuchai 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.
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Kevin Theiss
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SOURCE China Yuchai International Limited
