China Tracker - Details for China Yuchai (CYD)

 China Yuchai
Shares Outstanding (MRQ): 37.27 mill 
New Shares / Dilution (TTM): 0.00 mill0.00%
Cash (MRQ): 647.35 mill100.12%
Account Receivables (MRQ): 857.65 mill132.64%
Account Receivables (Q/Q): + 211.05 mill32.64%
Long-Term Debt (MRQ): NO DEBT
Revenue Growth (Q/Q): 6.44% 
Revenue Growth (Y/Y): -16.51%
Net Income Growth (Q/Q): -49.58% 
Net Income Growth (Y/Y): -15.20%
EPS Growth (Y/Y): -15.20%
Net Margin (Q/Q): 5.4% (11.5%)-6.00% 
Net Margin (Y/Y): 5.4% (5.4%)0.10% 
EPS | P/E (2 MRQ Projection): $5.633.08
Price/Sales (2 MRQ Projection): 0.26
Price/Book (MRQ): 0.80
Auditor: Ernst & Young
* operating cash flow data not (yet) included
 
 Forward Projections (Fiscal Year)
EPS | P/E (Estimates updated 2010-10-31): $2.806.20
 Basic Facts and History (show more)
Reporting Type: Foreign Company (20-F Filings) 
Going Public: IPO on 1994-12-12 
IPO Price: $10.00 (73.50% since IPO)

 Business Outlook

Moving forward, we will be working to continue improving off-highway engine and heavy-duty engine sales, which will result in better margins. While we penetrate the higher-margin, heavy-duty diesel engine market, we intend to maintain our light-duty market presence by focusing on the more profitable models and improving competitiveness by reducing product costs and increasing unit sales. In March 2011, we began to see some recovery in engine sales compared to the first two months of 2011 when sales in March increased 35% over February as a result of improved automotive sales.

(Source: PR Newswire, 2011-05-11)

We continue to expand our heavy-duty diesel engine capacity as we expect to double our existing 6L and 6M production lines in mid-2011 and our joint venture with CIMC-Chery Auto began production of our new, advanced YC6K engine in December 2010. This engine is more powerful than our current heavy-duty engines and it will open up new market segments for us in the near future. The macroeconomic environment remains positive although growth is expected to be more moderate. Infrastructure expansion will continue especially in central China, requiring diesel engines to power vehicles for the movement of products by trucks and people by buses in urban areas. Our high-quality products, innovative new engines developed by our leading research and development programs, and excellent customer service provide a competitive advantage that will strengthen our leadership position in the large Chinese automotive market.

(Source: PR Newswire, 2011-03-31)

Our market share in the more profitable heavy and medium-duty engines has been increasing in the first half of 2010 compared with a year ago. We are introducing new engine models and increasing our production capacity of heavy-duty engines to improve our competitive position in this important segment. Pricing in the heavy-duty market remains favourable. Combining our increased in-sourcing capabilities through the new foundry and assembly plant, with the expansion of our product lines through our 3 strategic joint ventures, CIMC-Chery, Caterpillar and Geely, China Yuchai is in a better position to maintain its leadership position in China's diesel engine industry. Notwithstanding that 2010 is expected to continue to be a growth year in China, China's slowing growth momentum could have an impact on our operating performance in the subsequent quarters of 2010 as compared with the first six months of 2010.

(Source: PR Newswire, 2010-08-11)

    see all Business Outlook notes

 Analyst Coverage (show more)
2011-05-20Piper JaffrayDowngradeNeutral$24.00
2010-12-16Piper JaffrayReiterationOverweight$37.00
2010-10-20Piper JaffrayInitiationOverweight$29.00
2010-08-11OlympiaReiterationBuy$27.50
2010-05-13OlympiaReiterationBuy$30.00

CYD is currently followed by 2 analysts. 1 give the stock a positive rating, 1 rate it neutral and 0 give it a negative rating. The average price target is 25.75, which implies 48.41% upside from current price.


    see all Analyst Ratings
CYD
Automobiles
SCORE
7
READ: Score Cards Explained
SAFETY/RISK SCORE
MODERATE RISK
DETAILS: Safety/Risk Model for CYD
Current Price:  $17.35
F10k Day (1994-12-19): 182.11%$6.15
2009 Close: 19.65%$14.50
2010 Close: -41.84%$29.83
2011 Close: 34.91%$12.86
High (2012-03-15): -6.32%$18.52
Low (2012-05-17): 48.29%$11.70
Exchange: NYQ
Market Capitalization: 646.59 mill
Total Shares: 37.27 mill
Float: 13,928,000.00 mill
Avg Volume: 234.30 k
Short Interest: 887.80 k
Short Ratio: 5.74%3.8 d
Last Quarter: 2011-03-31
Revenue (MRQ): 645.53 mill
Net Income (MRQ): 35.15 mill
all financial data provided without warranty