BEIJING - China Yuchai International Limited (NYSE: NYSE:CYD), a leading powertrain solution manufacturer, has deployed 50 green energy buses equipped with its Yuchai Xingshunda hydrogen fuel cells in Beijing, marking a significant move towards sustainable transportation.
The buses, featuring two different power capacities of 82kW and 125kW, began commercial operations recently, showcasing Yuchai's commitment to China's "double carbon" goal and green transportation initiatives.
Yuchai Xingshunda, a joint venture established in 2022 and majority-owned by Yuchai, focuses on the development and manufacturing of fuel cell powertrain systems. The 82kW hydrogen fuel cell system is designed for a variety of vehicles including buses and light-duty trucks, boasting an energy efficiency higher than 43% and a service life of over 15,000 hours.
The 125kW system, suitable for semi-trailers and cargo trucks, features a proprietary metal plate stack that enhances energy efficiency above 45% and reduces hydrogen consumption.
These hydrogen fuel cell powertrain systems represent a clean alternative to internal combustion engines, offering high energy efficiency, zero emissions, low noise, and high-power density. All components and parts are sourced domestically, aligning with national technical guidance for hydrogen power.
China Yuchai's President, Mr. Weng Ming Hoh, expressed optimism about the growth of China's hydrogen energy and fuel cell industry, highlighting the deployment of these 50 hydrogen buses as a milestone for the company's innovative technologies in the market.
China Yuchai, through its subsidiary Yuchai, is a well-established brand in China's engine manufacturing sector, offering a range of engines for various applications and maintaining a significant market share. In 2023, Yuchai sold 313,493 engines, reinforcing its position as a top engine distributor in the country.
This advancement in green energy powertrains by China Yuchai underscores the company's strategic investments in new energy technologies and its role in supporting China's carbon reduction efforts.
The information in this article is based on a press release statement.
InvestingPro Insights
In light of China Yuchai International's (NYSE: CYD) recent deployment of 50 green energy buses with hydrogen fuel cells, investors might find the company's financial health and market valuation to be of particular interest. The company is showing promising signs in the market, trading at a low Price / Book multiple of 0.27, which could indicate that the stock is potentially undervalued relative to its assets. This aligns with the InvestingPro Tip that CYD is trading at a low revenue valuation multiple.
The P/E Ratio, standing at 8.61, coupled with a PEG Ratio of 0.28 for the last twelve months as of Q4 2023, suggests that China Yuchai may be priced attractively in terms of its earnings growth. Investors should note that the company has been profitable over the last twelve months, with a net income reflected in a Basic EPS (Continuing Operations) of 0.98 USD. These metrics underscore the company’s financial stability and potential for growth, which can be further explored with additional InvestingPro Tips.
Furthermore, with a market capitalization of 340.75M USD and a dividend yield of 3.36%, China Yuchai has demonstrated a commitment to returning value to shareholders, having maintained dividend payments for 19 consecutive years. This is a testament to the company's financial strength and investor-friendly approach.
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