Recently, Yuchai International announced that its domestic major operating entities, Guangxi Yuchai, Zhejiang Geely Group and Zhejiang Yinlun Machinery Co., Ltd., will make changes in the equity of the two joint ventures.
In 2008, Guangxi Yuchai, Zhejiang Geely and Zhejiang Yinzhou set up a joint venture in Shandong and Zhejiang to establish Jining Yuchai and Zhejiang Yuchai. The main product of the joint venture company is the 4D20 diesel engine . The engine is mainly used on Geely's related models, Yuchai. The equity structures of the two joint ventures are 52%, 30%, and 18% respectively.
In order to better develop the joint venture company, Guangxi Yuchai, Geely, and Silver Wheel made an equity reorganization of Jining Yuchai and Zhejiang Yuchai: Guangxi Yuchai withdrew from Zhejiang Yuchai, focusing on Jining Yuchai and Guangxi Yuchai. A 52% stake in Zhejiang Yuchai was transferred to the Silver Wheel, and the Silver Wheel transferred its 18% stake in Jining Yuchai to Guangxi Yuchai. After the equity conversion is completed, Guangxi Yuchai holds 70% of the shares in Jining Yuchai, while Geely holds 30%. The technology of the 4D20 diesel engine will be owned by Jining Yuchai.
Conversion of equity between Guangxi Yuchai and Silver Wheel, calculated at historical prices, Silver Wheel will give Yuchai International 25 million RMB
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