EX-99.2

EX-99.2 3 d649683dex992.htm EX-99.2 EX-99.2

Exhibit 99.2

CHINA YUCHAI INTERNATIONAL LIMITED

UNAUDITED CONSOLIDATED INCOME STATEMENTS

For the quarters ended September 30, 2018 and 2017

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


	September 30, 2018						September 30, 2017
	RMB ’000			US$ ’000			RMB ’000			US$ ’000
							Restated			Restated
Revenue		3,189,426			463,633			3,786,202			550,384
Cost of goods sold		(2,581,724	)		(375,294	)		(3,060,724	)		(444,924	)
Gross profit		607,702			88,339			725,478			105,460
Other operating income, net		44,090			6,409			50,642			7,362
Research and development costs		(63,610	)		(9,247	)		(139,573	)		(20,289	)
Selling, general and administrative costs		(336,973	)		(48,984	)		(348,753	)		(50,697	)
Operating profit		251,209			36,517			287,794			41,836
Finance costs		(29,874	)		(4,343	)		(32,667	)		(4,749	)
Share of results of associates and joint ventures		6,075			883			5,622			817
Profit before tax		227,410			33,057			260,749			37,904
Income tax expense		(48,150	)		(6,999	)		(46,420	)		(6,748	)
Profit for the period		179,260			26,058			214,329			31,156
Attributable to:
Equity holders of the parent		128,517			18,682			157,884			22,951
Non-controlling interests		50,743			7,376			56,445			8,205
		179,260			26,058			214,329			31,156
Net earnings per common share
- Basic		3.15			0.46			3.87			0.56
- Diluted		3.15			0.46			3.87			0.56
Unit sales		71,062						82,839

CHINA YUCHAI INTERNATIONAL LIMITED

UNAUDITED CONSOLIDATED INCOME STATEMENTS

For the nine months ended September 30, 2018 and 2017

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


	September 30, 2018						September 30, 2017
	RMB ’000			US$ ’000			RMB ’000			US$ ’000
							Restated			Restated
Revenue		11,731,070			1,705,296			12,411,467			1,804,202
Cost of goods sold		(9,500,860	)		(1,381,100	)		(10,105,978	)		(1,469,063	)
Gross profit		2,230,210			324,196			2,305,489			335,139
Other operating income, net		128,321			18,653			138,836			20,182
Research and development costs		(339,991	)		(49,423	)		(377,197	)		(54,832	)
Selling, general and administrative costs		(1,068,666	)		(155,347	)		(1,104,403	)		(160,542	)
Operating profit		949,874			138,079			962,725			139,947
Finance costs		(81,998	)		(11,920	)		(75,918	)		(11,036	)
Share of results of associates and joint ventures		14,633			2,127			10,786			1,568
Profit before tax		882,509			128,286			897,593			130,479
Income tax expense		(178,303	)		(25,919	)		(166,019	)		(24,133	)
Profit for the period		704,206			102,367			731,574			106,346
Attributable to:
Equity holders of the parent		503,484			73,189			540,249			78,534
Non-controlling interests		200,722			29,178			191,325			27,812
		704,206			102,367			731,574			106,346
Net earnings per common share
- Basic		12.32			1.79			13.26			1.93
- Diluted		12.32			1.79			13.26			1.93
Unit sales		281,850						293,487

CHINA YUCHAI INTERNATIONAL LIMITED

UNAUDITED SELECTED CONSOLIDATED BALANCE SHEET ITEMS

(RMB and US$ amounts expressed in thousands)


	As of September 30, 2018				As of December 31, 2017 (Audited)
	RMB ’000		US$ ’000		RMB ’000
					Restated
Cash and bank balances		4,808,849		699,042		6,029,207
Trade and bills receivables		8,878,820		1,290,676		7,031,544
Inventories		2,213,072		321,705		2,572,745
Trade and bills payables		4,797,290		697,362		5,177,123
Short-term and long-term interest-bearing loans and borrowings		1,722,668		250,417		1,626,341
Equity attributable to equity holders of the parent		8,242,948		1,198,242		8,334,289

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 September 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 third quarter of 2017 was restated as follows:

•

Revenue decreased by RMB 2,556 to RMB 3,786,202.

•

Cost of sales increased by RMB 33,161 to RMB 3,060,724.

•

Selling, general and administrative cost decreased by RMB 25,622 to RMB 348,753.

•

Profit after tax was adjusted from RMB 224,424 to RMB 214,329.

•

Profit attributable to the equity holders of the parent was adjusted from RMB 165,598 to RMB 157,884.

•

Earnings per share was adjusted from RMB 4.06 to RMB 3.87.

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

•

Revenue decreased by RMB 30,163 to RMB 12,411,467.

•

Cost of sales increased by RMB 98,881 to RMB 10,105,978.

•

Selling, general and administrative cost decreased by RMB 121,430 to RMB 1,104,403.

•

Profit after tax was adjusted from RMB 739,188 to RMB 731,574.

•

Profit attributable to the equity holders of the parent was adjusted from RMB 546,067 to RMB 540,249.

•

Earnings per share was adjusted from RMB 13.40 to RMB 13.26.

The effect of the restatements on the equity attributable to equity holders of the parent as at December 31, 2017 was adjusted from RMB 8,347,562 to RMB 8,334,289.