SINGAPORE, Oct. 31, 2017 — Further to its announcement dated August 29, 2017, China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that LKN Investment International Pte. Ltd. ("LKNII"), a wholly-owned subsidiary of HL Global Enterprises Limited ("HLGE") (a company in which China Yuchai has a 48.9% equity interest), has completed the sale of its 60% equity interest in Copthorne Hotel Qingdao Co., Ltd. ("CHQ") to Qingdao Haiyi Jun Zhuo Culture Travel Property Investment Co Ltd ("Haiyi") ("Sale"). The new business licence from the Qingdao Industrial and Commercial Administration Bureau has confirmed Haiyi as the sole shareholder of CHQ.
The consideration for the Sale of RMB214.35 million will be remitted by the Shanghai United Assets and Equity Exchange to LKNII after the relevant clearances have been obtained for such remittance to LKNII's designated foreign bank account. Haiyi has also paid the sum of RMB15.65 million, together with interest, to LKNII as full settlement of a shareholder's loan of a principal amount of RMB21.9 million granted by LKNII to CHQ. On a preliminary basis, the Company expects to record a profit attributable to equity holders of the parent of RMB68.2 million as a result of the Sale.
