CYD Earnings Prediction
The chart below shows how CYD performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CYD sees a -22.92% change in stock price 10 days leading up to the earnings, and a -1.32% change 10 days following the report. On the earnings day itself, the stock moves by +6.46%. This data can give you a slight idea of what to expect for the next quarter's release.
CYD Key Earning Data
2024/Q4
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CYD Earnings Analysis
China Yuchai International Ltd Corporation (CYD.N) Earnings Conference Call
Positive
Market Outperformance in Sales: EBIT sales outperformed the Chinese truck and bus vehicle markets in the second half of 2024 and for the full year 2024, with truck and bus engine sales up by 1.6% year-on-year in H2 2024 and 17.2% for the full year, while the overall market saw a decline.
Sales Growth Overview: Operating sales rose by 12.6% year-over-year in the second half and by 9.1% year-over-year for the full year 2024.
Gross Profit Surge: Gross profit increased faster than revenue, rising by 14.3% year-on-year in the second half of 2024 and 10.8% year-over-year for the full year, reaching RMB2.8 billion or $392.1 million.
Gross Margin Improvement: Gross margin improved to 40.7% compared to 40.1% in FY 2023, attributed to higher revenue and cost reduction initiatives.
Profit Growth from Investments: Investment in associated companies and ventures delivered higher profit, growing by 18.2% year-over-year in the second half of 2024 and by 53.6% for the full year.
Manufacturing Expansion in Thailand: Yuchai Machinery power system in Thailand commenced production operations, expanding the company's manufacturing capabilities.
Strategic Technology Licensing Agreement: The company entered into a comprehensive strategic operation agreement for technology licensing, enhancing its product offerings in the ASEAN market.
R&D Investment in Energy Innovation: R&D expenditures increased significantly, with a focus on improving engine efficiency and developing new energy products, including hydrogen technologies.
Share Buyback and Dividends: The company initiated a share buyback plan and paid a cash dividend, demonstrating confidence in future revenue and commitment to shareholder value.
Strong Liquidity Position: Cash and bank balances increased to RMB6.4 billion or $895 million as of December 31, 2024, indicating strong liquidity.
Negative
Revenue Stagnation Despite Sales: Revenue in the second half of 2024 was flat compared to the same period last year, indicating stagnation in growth despite an increase in engine sales.
Operating Profit Decline: Operating profit decreased slightly in FY 2024, reflecting challenges in maintaining profitability amidst rising costs.
Rising SG&A Expenses: SG&A expenses increased by 25.1% in the second half of 2024, indicating higher operational costs that could impact future profitability.
R&D Expense Impact: R&D expenses increased significantly, with total R&D expenditures representing 8.2% of revenue in the second half of 2024, which may strain financial resources if not managed effectively.
Operating Margin Decline: Operating margin declined to 1.8% in the second half of 2024, down from 2.5% in the same period last year, highlighting a decrease in operational efficiency.
Gross Margin Challenges: Despite an increase in gross profit, the overall gross margin only slightly improved, suggesting that cost pressures remain a concern.
Profit Decline Analysis: The net profit attributable to equity holders decreased to RMB 82.7 million in the second half of 2024 from RMB 107.1 million in the same period last year, indicating a decline in profitability.
Earnings Per Share Decline: Basic and diluted earnings per share fell to RMB 2.19 in the second half of 2024 from RMB 2.62 in the same period last year, reflecting reduced shareholder returns.
CYD FAQs
How does CYD typically perform around its earnings report dates?
Is China Yuchai International Ltd (CYD) Q4 2024 Earnings Call Summary positive or negative?
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CYD Earning Call Sentiment
China Yuchai International Limited (CYD) Q4 2024 Earnings Call Transcript
CYD.N
-3.66%Positive
The earnings call presents mixed signals: increased gross profit and margin are positive, but declining operating profit and rising SG&A expenses raise concerns. The Q&A highlights growth potential in data centers but lacks clarity on profitability margins and exact growth figures. The full order book for 2025 is promising, yet supply chain issues pose a risk. With no market cap available, assuming a neutral reaction due to balanced positives and negatives.
