Benzinga | Dec 29, 2021 06:18AM EST

China Yuchai Establishes New Subsidiary

* China Yuchai International Limited (NYSE:CYD) operating subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL), announced a new wholly-owned subsidiary, Guangxi Yuchai Deyou Engine Systems Co., Ltd., incorporated on December 22, 2021, with registered capital of RMB 20 million.

* The new subsidiary, Guangxi Yuchai Deyou Engine Systems, is the successor company of the trading business previously conducted by GYMCL's subsidiary, Guangxi Yuchai Deyou Engine Co., Ltd. (YDEC).

* YDEC will take over the operations of GYMCL's marine and power generation unit under the new name Guangxi Yuchai Marine and Genset Power Co., Ltd.

* Price Action: CYD shares closed higher by 2.18% at $12.16 on Tuesday.