EX-99.2

EX-99.2 3 d612170dex992.htm EX-99.2 EX-99.2

Exhibit 99.2

CHINA YUCHAI INTERNATIONAL LIMITED

UNAUDITED CONSOLIDATED INCOME STATEMENTS

For the quarters ended June 30, 2018 and 2017

(RMB and US$ amounts expressed in thousands, except per share data)


	June 30, 2018						June 30, 2017
	RMB ’000			US$ ’000			RMB ’000			US$ ’000
							Restated			Restated
Revenue		4,204,550			635,455			4,072,626			615,516
Cost of goods sold		(3,435,522	)		(519,228	)		(3,348,597	)		(506,090	)
Gross profit		769,028			116,227			724,029			109,426
Other operating income, net		33,740			5,099			48,588			7,343
Research and development costs		(156,472	)		(23,648	)		(113,041	)		(17,084	)
Selling, general and administrative costs		(371,811	)		(56,194	)		(414,838	)		(62,699	)
Operating profit		274,485			41,484			244,738			36,986
Finance costs		(29,605	)		(4,474	)		(16,490	)		(2,492	)
Share of results of associates and joint ventures		841			127			3,062			463
Profit before tax		245,721			37,137			231,310			34,957
Income tax expense		(48,994	)		(7,405	)		(46,541	)		(7,034	)
Profit for the period		196,727			29,732			184,769			27,923
Attributable to:
Equity holders of the parent		132,129			19,969			133,862			20,231
Non-controlling interests		64,598			9,763			50,907			7,692
		196,727			29,732			184,769			27,923
Net earnings per common share - Basic		3.23			0.49			3.29			0.50
- Diluted		3.23			0.49			3.29			0.50
Unit sales		100,675						90,638

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CHINA YUCHAI INTERNATIONAL LIMITED

UNAUDITED CONSOLIDATED INCOME STATEMENTS

For the six months ended June 30, 2018 and 2017

(RMB and US$ amounts expressed in thousands, except per share data)


	June 30, 2018						June 30, 2017
	RMB ’000			US$ ’000			RMB ’000			US$ ’000
							Restated			Restated
Revenue		8,541,644			1,290,942			8,625,265			1,303,580
Cost of goods sold		(6,919,136	)		(1,045,724	)		(7,045,254	)		(1,064,785	)
Gross profit		1,622,508			245,218			1,580,011			238,795
Other operating income, net		84,231			12,730			88,194			13,329
Research and development costs		(276,381	)		(41,771	)		(237,624	)		(35,913	)
Selling, general and administrative costs		(731,693	)		(110,584	)		(755,650	)		(114,206	)
Operating profit		698,665			105,593			674,931			102,005
Finance costs		(52,124	)		(7,878	)		(43,251	)		(6,537	)
Share of results of associates and joint ventures		8,558			1,293			5,164			780
Profit before tax		655,099			99,008			636,844			96,248
Income tax expense		(130,153	)		(19,671	)		(119,599	)		(18,076	)
Profit for the year		524,946			79,337			517,245			78,172
Attributable to:
Equity holders of the parent		374,967			56,671			382,365			57,787
Non-controlling interests		149,979			22,666			134,880			20,385
		524,946			79,337			517,245			78,172
Net earnings per common share - Basic		9.18			1.39			9.39			1.42
- Diluted		9.17			1.39			9.39			1.42
Unit sales		210,788						210,648

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CHINA YUCHAI INTERNATIONAL LIMITED

SELECTED UNAUDITED CONSOLIDATED BALANCE SHEET ITEMS

For the periods ended June 30, 2018 and December 31, 2017

(RMB and US$ amounts expressed in thousands)


	June 30, 2018 (Unaudited)				December 31, 2017 (Audited)
	RMB ’000		US$ ’000		RMB ’000
					Restated
Cash and bank balances		6,499,896		982,362		6,029,207
Trade and bills receivables		8,289,812		1,252,881		7,031,544
Inventories		2,018,783		305,109		2,572,745
Trade and bills payables		5,334,512		806,232		5,177,123
Short-term and long-term interest-bearing loans and borrowings		1,819,840		275,042		1,626,341
Equity attributable to equity holders of the parent		8,071,179		1,219,838		8,334,289

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CHINA YUCHAI INTERNATIONAL LIMITED

Impact on adoption of IFRS 15 Revenue from Contracts with Customers:

The figures presented below are all expressed in thousands.

IFRS 15 Revenue from Contracts with Customers

IFRS 15 Revenue from Contracts with Customers is effective for the annual periods beginning on or after January 1, 2018. IFRS 15 establishes a five steps model to account for the revenue arising from the contracts with customers. Under IFRS 15, revenue is recognized at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring of goods or services to a customer.

The Group has applied the changes in accounting policies retrospectively to each reporting period presented, using the full retrospective approach. Accordingly, the comparative figures in the balance sheet at December 31, 2017 and the income statement for the quarter and year-to-date ended June 30, 2017 have been restated to reflect the retrospective adjustments upon adoption of IFRS 15.

Warranty obligations

Under IFRS 15, the Group accounts for a service-type warranty as a separate performance obligation to which the Group allocates a portion of the transaction price. The portion of the consideration allocated to the service-type warranty is initially recorded as a contract liability and recognized as revenue over the period which warranty services are provided.

As a result, the Group’s income statement for the second quarter of 2017 was restated as follows:

•

Revenue decreased by RMB 20,725 to RMB 4,072,626.

•

Cost of sales increased by RMB 7,927 to RMB 3,348,597.

•

Selling, general and administrative cost decreased by RMB 31,759 to RMB 414,838.

•

Profit after tax was adjusted from RMB 181,662 to RMB 184,769.

•

Profit attributable to the equity holders of the parent was adjusted from RMB 131,488 to RMB 133,862.

•

Basic and Diluted earnings per share was adjusted from RMB 3.23 to RMB 3.29.

As a result, the Group’s income statement for the first six months ended June 30, 2017 was restated as follows:

•

Revenue decreased by RMB 27,607 to RMB 8,625,265.

•

Cost of sales increased by RMB 65,720 to RMB 7,045,254.

•

Selling, general and administrative cost decreased by RMB 95,808 to RMB 755,650.

•

Profit after tax was adjusted from RMB 514,764 to RMB 517,245.

•

Profit attributable to the equity holders of the parent was adjusted from RMB 380,469 to RMB 382,365.

•

Basic and Diluted earnings per share was adjusted from RMB 9.35 to RMB 9.39.

The effect of the restatements on the equity attributable to equity holders of the parent was adjusted from RMB 8,347,562 to RMB 8,334,289.

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