Chief investment officer Patrick Yau attributes China Yuchai’s revenue growth to the “very strong export volumes from our customers in China”. Yau says: “As they export, they capture our units in those exports. And there’s also been a fair degree of market share gains domestically, even though the Chinese domestic market itself is still very lukewarm.”
Hong Leong Asia (HLA) has delivered a robust set of numbers for the 1HFY2025 ended June 30, mainly due to the strength of its powertrain business.
Overall revenue was up by 25.7% y-o-y to $2.83 billion, while group net profit rose 13.1% y-o-y to $56 million. The higher top and bottom lines were supported by a 30.8% y-o-y revenue growth in the group’s powertrain engine solutions unit, New York-listed Yuchai. The building materials segment, which includes ready-mix and precast concrete, posted a modest decline with revenues slipping 3.5% to $310.2 million, owing to delays in capacity replacement at its Singapore plants. Precast volumes, however, improved and management expects disruptions to ease by year-end.
