Link: https://links.sgx.com/1.0.0/corporate-announcements/X8JHWKXMS896CDM7/36e740f3a53bda6a67637a9a687a51cd6576e986f2037fd4d2b7fef10f5ca000

Summary:

• Revenue: RMB 13.81 billion (up 34.0% YoY) on broad-based growth across truck, bus, and off-road engines; unit sales up 29.9% to 250,396.

• Profit: Operating profit RMB 621.7m (+42.3%); profit for the period RMB 534.8m (+58.9%); net profit attributable to shareholders RMB 365.8m (+52.2%); EPS RMB 9.75 (+65.8%).

• Margins/costs: Gross profit RMB 1.84b (+30.3%); gross margin 13.3% (vs 13.7%); SG&A RMB 962.5m (+27.4%); R&D RMB 476.7m (+21.1%); finance costs down 21.3% to RMB 32.2m.

• Segment highlights: Truck engine sales +44.3% YoY; bus engine sales +8.9%; heavy-duty truck +40.7%, heavy-duty bus +14.4%; off-road engine sales +17.5% with marine/genset +31.5% and industrial +27.2%.

• Associates/JVs: Share of profit RMB 61.4m (+42.6%) driven by MTU Yuchai Power.

• Balance sheet: Cash and bank RMB 7.84b (vs RMB 6.43b end-2024); receivables RMB 12.75b; inventories RMB 4.69b; payables RMB 11.92b; loans/borrowings RMB 2.18b (down from RMB 2.51b).

• Outlook/ops: Expanding ASEAN footprint (Thailand K08 production; Vietnam tech licensing and support); broad product portfolio across diesel, gas, and new energy; paid US$0.53/share FY2024 dividend in July 2025.