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 08 May 2019 China Yuchai Announces Board Change
 

SINGAPORE, May 8, 2019 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD)("China Yuchai" or the "Company") announced today that Mr. Tan Aik-Leang had resigned as Chairman of the Audit Committee (“AC”) with effect from May 2, 2019. Mr. Xie Tao, who was appointed as an independent director on April 10, 2019, has replaced Mr. Tan as AC Chairman with effect on May 2, 2019.

Mr. Tan will remain as a member of the AC until May 10, 2019 to assist in the transition. With effect from May 11, 2019, Mr. Tan will officially resign as an independent director of China Yuchai. There were no disagreements between Mr. Tan and China Yuchai on any matter relating to the Company’s accounting operations, policies or practices.

Mr. Xie has more than 30 years of experience in corporate management and financial advisory including mergers and acquisitions, corporate finance and transaction services. For nearly 23 years, he spent the major part of his career with PricewaterhouseCoopers. Between 2012 and 2014, he was a partner at Ernst & Young, then Deloitte, as a leader of transaction services and corporate finance business.

The Board of Directors expresses its appreciation to Mr. Tan for his long service and contributions to the Company. The Board is also confident that his successor, Mr. Xie, will make great contributions to the Company with his extensive experience.

With Mr. Tan’s resignation as an independent director on May 11, 2019, China Yuchai’s Board of Directors will be comprised of nine (9) directors, three (3) of whom are independent directors.