-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001145549-04-000340.txt : 20040319
<SEC-HEADER>0001145549-04-000340.hdr.sgml : 20040319
<ACCEPTANCE-DATETIME>20040319140116
ACCESSION NUMBER:		0001145549-04-000340
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040229
FILED AS OF DATE:		20040319

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:		04679633

	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>u92303e6vk.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 February 2004

                         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>

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" or "CYI") 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 foreign investment, economic
growth, inflation and the availability of credit, the effects of competition in
the diesel engine market, the effects of inflation, 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, the
effects of uncertainties in the Chinese legal system which could limit the legal
protections available to foreign investors, including with respect to the
enforcement of foreign judgments in China, and the effects of China becoming a
member of the World Trade Organization. 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 February 27, 2004 in Singapore, the Company issued a press release announcing
its annual results for the year ended December 31, 2003. A copy of the press
release dated February 27, 2004 is attached hereto as Exhibit 1.1 and is
incorporated herein by reference.

<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: February 27, 2004

                                     CHINA YUCHAI INTERNATIONAL LIMITED



                                     By: /s/  Philip Ting Sii Tien
                                         ---------------------------------------
                                     Name:  Philip Ting Sii Tien
                                     Title: Chief Financial Officer and Director

<PAGE>

                                  EXHIBIT INDEX


1.1  Press release dated February 27, 2004.


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>3
<FILENAME>u92303exv1w1.txt
<DESCRIPTION>EX-1.1 PRESS RELEASE DATED FEBRUARY 27, 2004
<TEXT>
<PAGE>
                                                                     EXHIBIT 1.1



                       CHINA YUCHAI INTERNATIONAL LIMITED
           16 RAFFLES QUAY #26-00 HONG LEONG BUILDING SINGAPORE 048581
                    TEL : (65) 6220 8411 FAX : (65) 6226 0502


FOR IMMEDIATE RELEASE



                  CHINA YUCHAI INTERNATIONAL LIMITED ANNOUNCES
                            GOOD PERFORMANCE FOR 2003


SINGAPORE, FEBRUARY 27, 2004 - China Yuchai International Limited ("CYI") today
announced good performance for the year ended December 31, 2003. Net sales of
Rmb4,569.9 million (US$552.1 million) for the year ended December 31, 2003
represents an increase of approximately 30% compared to the prior year of
Rmb3,513.0 million (US$424.5 million). Total unit sales of 172,219 diesel
engines for the year ended December 31, 2003 was 32% higher than during 2002.

Continued buoyant demand for diesel engines in the China market and good
customer acceptance of Yuchai's new 4 cylinder series and industrial models
contributed to this growth.

Net income of Rmb438.2 million (US$52.9 million) in 2003 increased 6% as
compared to the net income of Rmb412.4 million (US$49.8 million) for 2002.

The improvement in profit performance was constrained by Guangxi Yuchai
Machinery Company Limited's ("Yuchai") limited production capacity for high
margin, heavy-duty engines. Yuchai was unable to meet market demand for this
growth category of engines in 2003. During 2002, Yuchai had grown its unit sales
by 76% using up much of the plant's excess capacity.

In April 2003, an additional 4 cylinder series light-duty engine production line
was commissioned increasing capacity by 40,000 units per annum for this product
series.

Using this additional capacity, sales of 4 cylinder series, light-duty engines
achieved growth of 108% with 40,275 diesel engines sold during 2003 as compared
to 19,397 during the previous year. Sales of industrial engines including those
for construction equipment reached 25,080 units for 2003 as compared to 11,328
engines sold during the previous year.

Sales of high margin, medium-duty diesel engines were almost identical to the
previous year. Sales of high margin, heavy-duty diesel engines were constrained
by limited production capacity in 2003.

<PAGE>

                       CHINA YUCHAI INTERNATIONAL LIMITED
           16 RAFFLES QUAY #26-00 HONG LEONG BUILDING SINGAPORE 048581
                    TEL : (65) 6220 8411 FAX : (65) 6226 0502


The gross profit margins achieved for both the 4 cylinder series light-duty and
the industrial engines were lower than margins historically achieved for both
medium and heavy-duty engines. Thus, the overall gross profit margins of 30% is
slightly lower when compared to the previous year of 33% because of these
factors.

For the year ended December 31, 2003, selling, general and administrative
expenses increased by approximately 32% due mainly to higher staff costs,
transport charges arising from higher unit sales, advertising costs, legal and
professional fees relating to the legal and arbitration proceedings in respect
of shareholder disputes and research and development expenditures. As a result,
operating income increased to Rmb721.4 million (US$87.1 million) for 2003 as
compared to Rmb640.3 million (US$77.4 million) for 2002.

Interest cost declined slightly to Rmb23.6 million (US$2.9 million) for the year
ended December 31, 2003 as compared to Rmb25.1 million (US$3.0 million) for 2002
due to the repayment of bank loans during the year.


YUCHAI'S ENGINE UNIT SALES GROWTH OUT PERFORMS THE MARKET

The growth pattern in China for diesel engine usage, established over the last
few years, was reinforced in 2003.

According to Government industry statistics, during 2003, there was an increase
in the sales of trucks and buses in China of approximately 16% compared to 2002
(source data : China Association of Automobile Manufacturers).

CYI believes Yuchai grew its market share and out performed its competitors by
growing its unit sales 32% compared with 2002.

A breakdown of sales according to size and horsepower range shows an even
clearer picture of how CYI believes Yuchai is successfully adjusting its
strategy to meet market demand and grow market share.

(A)  Sales of light duty (4 cylinder) engines for mini buses and small trucks
     continue to experience high growth in China.

     As previously mentioned, Yuchai sales of the new light duty engines grew
     107%, benefiting from the additional light duty engine production capacity
     (40,000 units per year) commissioned in April 2003.

     While in 2003, the gross margin from light duty engines was much lower than
     Yuchai's traditional products, Yuchai has historically found that margins
     typically improve with time, as production processes are refined and costs
     reduced.

(B)  Sales of medium duty (6 cylinder, 140 - 200 Hp) engines for 5 to 7 tonne
     trucks and buses continued to decline in China. With the improvement in the
     high way system, transportation companies now find that these traditional
     sized vehicles are less economic than the newer larger units.

<PAGE>

                       CHINA YUCHAI INTERNATIONAL LIMITED
           16 RAFFLES QUAY #26-00 HONG LEONG BUILDING SINGAPORE 048581
                    TEL : (65) 6220 8411 FAX : (65) 6226 0502


     Despite this trend, Yuchai's sales of medium duty engines increased 2% in
     2003.

(C)  Sales of heavy duty (6 cylinder, 250 - 400 Hp) engines for 10 to 15 tonne
     trucks, large buses, coaches and large construction equipment has continued
     to experience high growth.

     Yuchai sales of 6112 (6 cylinder, 285 Hp) engines grew 34% despite being
     restricted by insufficient production capacity in 2003.

     First sales of 6113 (6 cylinder, 300 - 350 Hp) occurred in November 2003.
     Growth of this new product is expected to be strong over the next few years
     and we expect to become a significant contributor to profit growth for
     Yuchai.

Early in 2003, Yuchai embarked upon a major capital expenditure program to
increase the production capacity of heavy-duty engines by 20,000 units per year
and to construct a new foundry. This expansion is expected to be completed on
schedule towards the end of first quarter 2004.

This expansion is intended to provide a significant opportunity to boost
Yuchai's performance in the years ahead. The expansion is expected to enable
Yuchai to enter the high growth, higher margin market for engines over 300Hp,
while eventually reducing its cost base by replacing imported engines blocks and
cylinder heads with production from the new foundry.

Yuchai has a strong brand name in China with an extensive sales and marketing
network. CYI believes Yuchai's products are considered to be 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.

It is generally expected 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, buses and construction equipment.

Wrixon F. Gasteen, President, stated "Despite operating in a challenging
environment after Severe Acute Respiratory Syndrome ("SARS"), we were able to
achieve our financial objectives. I am pleased to announce that with the major
capital expenditure program implemented in 2003, Yuchai is expected to make
progressively increasing deliveries of the new 6113 heavy-duty engine in the
beginning of March this year. This is a significant milestone which is in
accordance with our business plan. We strongly believe this new heavy-duty
engine will contribute significantly to Yuchai's future financial performance."

Basic and diluted net income per share for the year ended December 31, 2003 was
Rmb12.40 (US$1.50) compared to a basic and diluted net income per share of
Rmb11.67 (US$1.41) for 2002.

<PAGE>

                       CHINA YUCHAI INTERNATIONAL LIMITED
           16 RAFFLES QUAY #26-00 HONG LEONG BUILDING SINGAPORE 048581
                    TEL : (65) 6220 8411 FAX : (65) 6226 0502


CYI has filed with the U.S. Securities and Exchange Commission a copy of this
press release on Form 6-K. A copy of such filing has also been sent to The New
York Stock Exchange. Reference is made to such filing for cautionary statements
which identify factors that could affect the forward looking statements
contained in this press release.




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



Note 1: The Company's functional and reporting currency is Renminbi, the
translation of amounts from Renminbi to U.S. dollars is solely for the
convenience of the reader. Translation of amounts from Renminbi to U.S. dollars
has been made at the rate of Rmb 8.2767 = US$1.00, the rate quoted by the
People's Bank of China at the close of business on December 31, 2003. No
representation is made that the Renminbi amounts could have been, or could be,
converted into U.S. dollars at that rate or at any other certain rate on
December 31, 2003 or at any other date.

Note 2: All financial data for 2003 (both in Renminbi and U.S. dollars) is
unaudited.

<PAGE>

CHINA YUCHAI INTERNATIONAL LIMITED
CONSOLIDATED INCOME STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2001, 2002 AND 2003
(RMB AND US$ AMOUNTS EXPRESSED IN THOUSANDS, EXCEPT PER SHARE DATA)

<TABLE>
<CAPTION>
                                                              Year Ended December 31
                                                  -----------------------------------------------------
                                                     2001           2002           2003         2003
                                                  ---------       ---------      ---------    ---------
                                                   Rmb'000         Rmb'000        Rmb'000      US'000
                                                   Audited         Audited       Unaudited    Unaudited
                                                                                                (Note)
<S>                                               <C>             <C>            <C>          <C>
Net sales ..................................      1,783,329       3,513,047      4,569,950     552,146
Cost of goods sold .........................      1,183,403       2,371,080      3,192,794     385,756
                                                  ---------       ---------      ---------     -------
Gross profit ...............................        599,926       1,141,967      1,377,156     166,390
Research and development cost ..............         44,721          75,532         94,594      11,429
Selling, general and administrative expense         243,231         426,128        561,151      67,800
Amortisation of goodwill ...................         16,859               -              -           -
                                                  ---------       ---------      ---------     -------
Operating income ...........................        295,115         640,307        721,411      87,161
Interest cost ..............................         29,784          25,144         23,624       2,854
Other (income)/expense, net ................         (3,858)        (10,287)           881         106
                                                  ---------       ---------      ---------     -------
Income before income taxes and
 minority interests ........................        269,189         625,450        696,906      84,201
Income tax (credit)/expense ................        (63,584)         83,242        112,924      13,644
                                                  ---------       ---------      ---------     -------
Income before minority interests ...........        332,773         542,208        583,982      70,557
Minority interests in income of consolidated
 subsidiaries ..............................         82,386         129,775        145,800      17,615
                                                  ---------       ---------      ---------     -------
Net income .................................        250,387         412,433        438,182      52,942
                                                  =========       =========      =========     =======

Net income attributable to common shares             Rmb             Rmb            Rmb          US$
  Basic and diluted ........................           7.09           11.67          12.40        1.50
                                                  =========       =========      =========     =======
</TABLE>

Note: The Company's functional and reporting currency is Renminbi, the
translation of amounts from Renminbi to U.S. dollars is solely for the
convenience of the reader. Translation of amounts from Renminbi to U.S. dollars
has been made at the rate of Rmb 8.2767 = US$1.00, the rate quoted by the
People's Bank of China at the close of business on December 31, 2003. No
representation is made that the Renminbi amounts could have been, or could be,
converted into U.S. dollars at that rate or at any other certain rate on
December 31, 2003 or at any other date.

<PAGE>

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

<TABLE>
<CAPTION>

                                             As of                    As of
                                       December 31, 2002        December 31, 2003
                                       -----------------    ------------------------
                                            Audited                 Unaudited
                                              RMB              RMB             US$
                                                                             (Note)
<S>                                    <C>                  <C>              <C>
Cash and Cash Equivalents                    643,200          631,938         76,352
Trade Accounts Receivable, Net             1,003,135          849,611        102,651
Inventories, Net                             843,229          877,334        106,000
Net Current Assets                         1,340,832          962,804        116,327
Total Assets                               3,985,459        4,033,632        487,348
Trade Accounts Payable                       628,901          731,966         88,437
Short-Term and Long-Term Borrowings          315,000          298,000         36,005
Shareholders' Equity                       2,161,903        1,991,687        240,638
</TABLE>

Note: The Company's functional and reporting currency is Renminbi, the
translation of amounts from Renminbi to U.S. dollars is solely for the
convenience of the reader. Translation of amounts from Renminbi to U.S. dollars
has been made at the rate of Rmb 8.2767 = US$1.00, the rate quoted by the
People's Bank of China at the close of business on December 31, 2003. No
representation is made that the Renminbi amounts could have been, or could be,
converted into U.S. dollars at that rate or at any other certain rate on
December 31, 2003 or at any other date.

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