Since implementing corporatized operations in 2022, Yuchai Xinlan has consistently taken providing customers with the best overall new energy powertrain solutions as its starting point. After two years of product portfolio adjustments, new energy products have been successively launched to the market and won customer recognition, successfully achieving the goal of doubling operating performance every year. In particular, in the first half of 2024, the company's range extenders, hybrid systems, pure electric drives and other products were gradually successfully matched and launched on the main-selling models of mainstream OEMs, with breakthroughs in both matching and order volumes across all major segments. From January to June, Yuchai Xinlan's new energy powertrain sales increased by 22% year on year, and sales revenue increased by 149% year on year.

To support the company's rapid development, Yuchai Xinlan started construction of a new production base in March 2024 and achieved official production after four months. The construction of the new workshop involved an investment of more than 60 million yuan. The production lines adopt internationally advanced production equipment and intelligent management systems, achieving a high degree of automation and digitalization in the production process and greatly improving production efficiency and product quality. The completion of the new production base enables Yuchai Xinlan's annual production capacity to reach 50,000 units/sets, which not only supports Yuchai Xinlan in achieving its full-year operating target for 2024, but also lays a solid foundation for achieving its sales target of 800 million yuan in 2025.

At the production commencement ceremony, leaders and specially invited guests including Huang Yixin, Du Wenhong, Chen Xiaofeng, Li Hanyang and Wu Qiwei jointly cut the ribbon for the new workshop's production, announcing the official achievement of this important milestone.

In the new product launch session, Yuchai Xinlan delivered its first batch of high-speed flat-wire electric drive axles to Zhu Feng, Procurement Director of Skywell Group, marking the official entry of Yuchai Xinlan's new products into the market and the opening of a new chapter.

In his speech, Li Hanyang said that Yuchai began developing new energy products in 2004 and has invested more than 1 billion yuan to date, forming more than 300 core patents. The production commencement of the new production base marks an important transformation of Yuchai's new energy powertrain from product development to market launch. The new energy powertrain segment is a strategic segment of Yuchai and an important growth pole for the future. Yuchai Group will fully support Yuchai Xinlan in becoming stronger and larger, and hopes that Yuchai Xinlan will continue to deepen technological innovation, optimize production processes, improve product quality, provide global customers with new energy products of excellent quality, and help customers succeed.