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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001145549-03-000318.txt : 20030326
<SEC-HEADER>0001145549-03-000318.hdr.sgml : 20030325
<ACCEPTANCE-DATETIME>20030326083753
ACCESSION NUMBER:		0001145549-03-000318
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030331
FILED AS OF DATE:		20030326

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA YUCHAI INTERNATIONAL LTD
		CENTRAL INDEX KEY:			0000932695
		STANDARD INDUSTRIAL CLASSIFICATION:	ENGINES & TURBINES [3510]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13522
		FILM NUMBER:		03616935

	BUSINESS ADDRESS:	
		STREET 1:		16 RAFFLES QUAY #26-00
		STREET 2:		HONG LEONG BLDG
		CITY:			SINGAPORE 0104 SINGA
		STATE:			U0
		BUSINESS PHONE:		0116563226220

	MAIL ADDRESS:	
		STREET 1:		16 RAFFLES QUARY #26-00
		CITY:			SINGAPORE
		STATE:			U0
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>u92117e6vk.txt
<DESCRIPTION>CHINA YUCHAI INTERNATIONAL LIMITED
<TEXT>
<PAGE>
================================================================================

                                  United States
                       Securities and Exchange Commission
                             Washington, D.C. 20549

                                    Form 6-K

                        Report of Foreign Private Issuer

                      Pursuant to Rule 13a-16 or 15d-16 of
                       the Securities Exchange Act of 1934

                           For the Month of March 2003

                         Commission File Number 1-13522

                       CHINA YUCHAI INTERNATIONAL LIMITED
                 (Translation of registrant's name into English)

                             16 Raffles Quay #26-00
                               Hong Leong Building
                                Singapore 048581
                    (Address of principal executive offices)

     (Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.)

                   Form 20-F   X         Form 40-F
                             -----                 -----

     (Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)

                   Yes                   No   X
                       -----                -----

If "Yes" is marked, indicate below the file number assigned to registrant in
connection with Rule 12g3-2(b). Not applicable.

================================================================================
<PAGE>
                                TABLE OF CONTENTS

This Report on Form 6-K shall be deemed to be incorporated by reference in the
prospectus, dated August 26, 1996, of China Yuchai International Limited (the
"Company") included in the Company's Registration Statement (Registration No.
333-05478) on Form F-3 and to be part thereof from the date on which this report
is filed, to the extent not superseded by documents or reports subsequently
filed or furnished by the Company with the U.S. Securities and Exchange
Commission (the "SEC").

The Company wishes to caution readers that the forward-looking statements
contained in the press release, included herein as Exhibit 1.1, involve risks
and uncertainties, and are subject to material change based on various important
factors including, among others, political, economic and social conditions in
China such as government policies with respect to economic growth, inflation and
the availability of credit, the effects of competition in the diesel engine
market, the effects of inflation, and the ability of Guangxi Yuchai Machinery
Company Limited, a subsidiary of the Company, to control its expenses, capital
expenditures and receivables, finance its working capital and capital
expenditures and commercially introduce new products in the future. These and
other factors, and their effects on the Company's results of operations and
financial condition, are more fully described in the Company's Form 20-F filings
with the SEC under the Securities Exchange Act of 1934, as amended.


1.   Other Events

On March 25, 2003 in Singapore, the Company issued a press release announcing
its year 2002 results. A copy of the press release dated March 25, 2003 is
attached hereto as Exhibit 1.1 and is incorporated herein by reference.


2.   Exhibits

     1.1 Press release dated March 25, 2003.
<PAGE>
                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunder duly authorized.

Date: March 26, 2003



                                            CHINA YUCHAI INTERNATIONAL LIMITED

                                            By: /s/ Philip Ting Sii Tien
                                                --------------------------------
                                            Name:  Philip Ting Sii Tien
                                            Title: Chief Financial Officer
<PAGE>
                                  EXHIBIT INDEX


1.1  Press release dated March 25, 2003.


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>3
<FILENAME>u92117exv1w1.txt
<DESCRIPTION>PRESS RELEASE DATED MARCH 25, 2003
<TEXT>
<PAGE>
                                                                     EXHIBIT 1.1


FOR IMMEDIATE RELEASE


                  CHINA YUCHAI INTERNATIONAL LIMITED ANNOUNCES
                          STRONG PERFORMANCE FOR 2002


SINGAPORE, MARCH 25, 2003 - China Yuchai International Limited (CYI) today
announced strong performance for the year ended December 31, 2002 with net
income of Rmb412.4 million (US$49.8 million) as compared to the net income of
Rmb250.4 million (US$30.3 million) for the same period in 2001. This
significant improvement in performance is due to strong market demand for
Guangxi Yuchai Machinery Company Limited's (YUCHAI) engines and strong customer
acceptance of new models.

Net sales of Rmb3,513.0 million (US$424.5 million) for the year ended December
31, 2002 represent an increase of approximately 97% compared to same period last
year of Rmb1,783.3 million (US$215.5 million). Total unit sales of 130,283
diesel engines for the year ended December 31, 2002 was 76% higher than the same
period last year.

For the year ended December 31, 2002, selling, general and administrative
expenses increased by approximately 75% due mainly to higher staff costs,
transport charges, arising from higher unit sales and research and development
expenditures. However, the selling, general and administrative expenses increase
of 12% as a percentage of sales ratio for the year ended December 31, 2002 is
lower than the 14% for same period last year. As a result, operating income
increased to Rmb640.3 million (US$77.4 million) for the year ended December 31,
2002 as compared to Rmb295.1 million (US$35.6 million) for the same period last
year.

Interest expense declined slightly to Rmb25.1 million (US$3.0 million) for the
period ended December 31, 2002 as compared to Rmb29.8 million (US$3.6 million)
for same period last year due to the repayment of bank loans during the year.

According to Government industry statistics, in the year 2002, there was an
increase in the sales of light to heavy trucks and buses in China of over 30%
compared to the same period last year (source data: China Association of
Automobile Manufacturers). Yuchai was able to achieve a much higher increase of
76% for its engines due to its successful marketing programs and strong customer
acceptance of its new models which comply with China's new emission controls for
its engines.

Yuchai has a strong brand name in China with an extensive sales and marketing
network. Yuchai's products are of good quality and provide reliable performance.
Yuchai has established itself as a major manufacturer of diesel engines in China
with a significant market share.
<PAGE>
We expect that the market demand for diesel engines in China will increase with
the continued expansion of the highways and toll roads in China leading to
increasing demand for new trucks and buses.

The Board of Directors is pleased to announce an interim ordinary dividend of
US$0.10 per share and a special dividend of US$0.30 per share for the year ended
December 31, 2002. These dividends will be paid to members whose names appear
on the register of members of CYI on 14 April 2003. The payment date of these
dividends will be 19 May 2003.

Basic and diluted net income per share for the year ended December 31, 2002 was
Rmb11.67 (US$1.41) compared to a basic and diluted net income per share of
Rmb7.09 (US$0.86)for the same period in 2001.


OTHER DEVELOPMENTS

As disclosed in our annual report on Form 20-F for the fiscal year ended
December 31, 2001, although we own 76.4% of Yuchai's shares, we require the
cooperation of Yuchai's minority shareholder, Guangxi Yuchai Machinery Holdings
Company (the "State Holding Company") and its legal representative, Mr. Wang
Jianming, in the daily management and operation of Yuchai. There have been
continuing difficulties in obtaining that cooperation, most notably in
implementation of decisions of the CYI Board on capital expenditures and the
payment of dividends in 2002.

On 23 August 2002, Yuchai's Board of Directors and shareholders approved the
payment of a final dividend for 2001 and an interim dividend for 2002 totaling
Rmb 321,632,755, of which our share amounts to Rmb 245,687,110 (US$29.6
million). Although the dividends due to the State Holding Company and certain
legal representatives of Yuchai have been paid, the dividends due to CYI to date
have not.

We are aware of no legal or financial barriers to the payment of these dividends
and continue to work with the management of Yuchai, government officials and
others in order to procure the release of these dividends and prevent a
recurrence of a payment delay in the future.

Through our representation on Yuchai's Board of Directors, we are continuing to
put procedures in place to improve the management and corporate governance of
Yuchai. For example, during 2002, Yuchai's Board of Directors took steps to
draft and put in place corporate governance guidelines for Yuchai, as well as to
amend Yuchai's Articles of Association to enable the adoption of such
guidelines. Yuchai is still in the process of adopting these guidelines and is
awaiting Chinese Government approval of such guidelines. There can be no
assurances as to when this process will be completed, however, or as to its
ultimate success.

In October 2002, we were advised China Everbright Holdings Limited sold its
24.3% indirect shareholding in CYI to Goldman Industrial Limited. In connection
with the sale, the two directors nominated by China Everbright Holdings Limited,
Mr Yang Bin and Mr Yang Yongsheng, resigned from CYI's Board of Directors.
<PAGE>

China Yuchai International Limited
Executive Office
16 Raffles Quay
#26-00 Hong Leong Building
Singapore 048581
Tel: (65) 6220 8411
Fax: (65) 6226 0502
Contact persons:  Mr Wrixon F. Gasteen, President
                  Mr Philip Ting, Chief Financial Officer
<PAGE>
CHINA YUCHAI INTERNATIONAL LIMITED
CONSOLIDATED INCOME STATEMENTS (DRAFT)
FOR THE YEARS ENDED DECEMBER 31, 2000, 2001 AND 2002
(RMB AND US$ AMOUNTS EXPRESSED IN THOUSANDS, EXCEPT PER SHARE DATA)


<TABLE>
<CAPTION>
                                                                                    Year Ended December 31
                                                                -------------------------------------------------------
                                                                  2001            2002            2002            2002
                                                                ---------       ---------       ---------       -------
                                                                Rmb' 000        Rmb' 000        Rmb' 000         US'000
<S>                                                             <C>             <C>             <C>             <C>

Net sales                                                       1,414,527       1,783,329       3,513,047       424,455
Cost of goods sold                                                960,079       1,183,403       2,371,080       286,480
                                                                ---------       ---------       ---------       -------
Gross profit                                                      454,448         599,926       1,141,967       137,975
Research and development costs                                     49,011          44,721          75,532         9,126
Selling, general and administrative expenses                      298,361         243,231         426,128        51,486
Amortisation of goodwill                                           16,859          16,859               -             -
                                                                ---------       ---------       ---------       -------
Operating income                                                   90,217         295,115         640,307        77,363
Interest expense                                                   27,886          29,784          25,144         3,038
Other expenses/(income), net                                       (1,685)         (3,858)        (10,287)       (1,243)
                                                                ---------       ---------       ---------       -------
Income before income taxes and minority interest                   64,016         269,189         625,450        75,568
Income tax expense                                                 10,682         (63,584)         83,242        10,057
                                                                ---------       ---------       ---------       -------
Income before minority interest                                    53,334         332,773         542,208        65,511
Minority interest in profit of consolidated subsidiaries           16,256          82,386         129,775        15,680
                                                                ---------       ---------       ---------       -------
Net income                                                         37,078         250,387         412,433        49,831
                                                                =========       =========       =========       =======
Net income attributable to common share                            Rmb             Rmb             Rmb             US$
  Basic and diluted                                                  1.05            7.09           11.67          1.41
                                                                =========       =========       =========       =======

</TABLE>
<PAGE>

SELECTED BALANCE SHEET ITEMS (DRAFT)
(RMB AND US$ AMOUNTS EXPRESSED IN THOUSANDS)

<TABLE>
<CAPTION>
                                                               As of                    As of
                                                         December 31, 2001         December 31, 2002
                                                         -----------------      ----------------------
                                                                RMB                RMB           US$
<S>                                                      <C>                    <C>            <C>

Cash and Cash Equivalents                                     409,193             643,200       77,713

Trade Accounts Receivables, Net                               773,789           1,003,135      121,201

Net Current Assets                                          1,100,462           1,340,832      162,004

Total Assets                                                3,262,868           3,985,459      481,533

Trade Accounts Payable                                        349,313             628,901       75,985

Short-Term and Long-Term Bank Loans                           445,000             315,000       38,059

Shareholders' Equity                                        1,805,045           2,161,903      261,207

</TABLE>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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