According to Yuchai's recent first-half business analysis meeting, in the first half of this year, Yuchai Group basically maintained stable development, with its operating revenues up 2.24 percent year on year. The enterprise was healthy overall with its risks under control.

In the first half of this year, Yuchai's key subsidiaries wrapped up major reforms and adjustments with their revenues growing steadily. Yuchai Petronas Lubricants Co., Ltd. completed joint-venture cooperation, with all its business indicators growing rapidly. Benefiting from the concept of "beautiful China", sanitary equipment orders of Yuchai Special Vehicle Co., Ltd. soared and were expected to outnumber those last year. Yuchai Logistics Co., Ltd. fulfilled 57.2 percent of its annual profit target.

As the core subsidiary of Yuchai's engine sector, Yuchai Machinery Co., Ltd. achieved substantial growth of production & sales and profit in the first half of this year, exceeding the average growth level of the industry. Also, Yuchai has changed its product structure, launched National IV heavy-duty and light-duty engines, and accomplished a switch from the national III emission standard and the national IV emission standard. The sales booms of gas engines and hybrid engines have built Yuchai's future position in the new energy power industry.

Yuchai's new subsidiaries have gone on track in recent years, too. In the first half of this year, Yuchai Marine Power Co., Ltd., a large-power low-speed marine engine manufacturer under Yuchai, delivered several large-power low-speed engine orders and achieved significant results of production and quality control; after the fast growth of its energy & chemical sector (excluding Yuchai Lubricant Co., Ltd.) in recent years, Yuchai has entered a period of deepening. Yuchai made adjustments actively in the face of difficulties, thus boosting sales revenues of its subsidiaries. Maoming Changsheng's sales revenues were up 11.25 percent year on year, accumulating strength for its rapid development in the second half of this year.

According to Gu Tangsheng, president of Yuchai Group, Yuchai Group (including Yuchai Machinery Co., Ltd.) registered year-on-year growth of 2.24 percent in the first half of this year, maintaining healthy growth on the whole. Overall, Yuchai has huge development potential. Maintaining high growth and income in the severe economic situation has laid the groundwork for Yuchai's sustainable development.

This year, Yuchai Group in charge of investment and financing management has also created a "full-process, dynamic and stereoscopic" business management mode, innovatively built a "five-dimensional matrix indicator management system", comprehensively carried out work such as planning, investment and financing, finance, human resources and great audit, and monitored subsidiaries' indicators of operation capacity, profitability, solvency, risk control and human resources management, thus ensuring the healthy and sound development of the enterprise.

(Song Yonggeng)