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EPRI CEO: U.S. Must Triple the Rate of Energy-Related Carbon Reduction to Achieve 2030 Goal

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PALO ALTO, Calif., April 22, 2021 /PRNewswire/ — The Biden administration today pledged to reduce U.S. economy-wide carbon emissions to around 50 percent below 2005 levels by 2030. The goal amounts to a 2 gigaton (Gt) reduction in annual, energy-related U.S. carbon dioxide (CO2) emissions by 2030 – triple the rate (3X) of carbon reduction achieved from 2005 to 2020, when annual emissions were reduced by 1 Gt.

In a statement today, EPRI President and CEO Arshad Mansoor said, “We know the timing, we understand the trajectory, and we have the technical expertise to get there. We must redouble collaboration across all stakeholders to accelerate an affordable and reliable clean energy transition.”

Because other sectors, such as transportation, buildings and industry, could largely reduce carbon emissions through electrification, the power sector will play a crucial role in achieving the administration’s 2030 economy-wide goal. EPRI released a graphical depiction of the accelerated rate of reduction across sectors.

Mansoor said, “The power sector has an early lead in the race to decarbonize, but every sector must cross the finish line to be successful. Near-term decisions and actions – from policy to regulation to technology deployment – will be crucial to drive economy-wide decarbonization in the decade ahead.”

Beyond 2030, low-carbon resources, such as a hydrogen, advanced nuclear and carbon capture utilization and storage, will be essential to driving additional carbon reduction. To accelerate the development of affordable, low-carbon resources, EPRI and Gas Technology Institute are jointly leading the Low-Carbon Resources Initiative (LCRI), a five-year effort involving more than 40 organizations. The LCRI Research Vision released this week outlines research, development, and demonstration activities to further economy-wide decarbonization.

Stay informed of EPRI activities on social media @EPRINews on Twitter and LinkedIn. You can also keep up with President and CEO Arshad Mansoor’s commentary by following him on LinkedIn.

Contact
Tim Leljedal
Senior Manager, External Communications
980-229-5964
[email protected]

About EPRI  
The Electric Power Research Institute, Inc. (EPRI, www.epri.com) conducts research and development relating to the generation, delivery and use of electricity for the benefit of the public. An independent, nonprofit organization, EPRI brings together its scientists and engineers as well as experts from academia and industry to help address challenges in electricity, including reliability, efficiency, health, safety and the environment. EPRI’s members represent more than 90 percent of the electricity generated and delivered in the United States, and international participation extends to 40 countries. EPRI’s principal offices and laboratories are in Palo Alto, Calif.; Charlotte, N.C.; Knoxville, Tenn.; and Lenox, Mass.

SOURCE Electric Power Research Institute

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Energy

CleanChoice Energy Uses Twilio Segment to Power Data Hub

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WASHINGTON, May 14, 2021 /PRNewswire/ — CleanChoice Energy, a cleantech company that empowers people and businesses to access climate solutions, is using Twilio Segment, the world’s leading customer data platform (CDP), to power their data hub and scale marketing and personalization efforts. Segment ensures CleanChoice’s data strategy and platform are flexible and ready to tackle customers’ continuously evolving needs while respecting user privacy with first-party data. Improved understanding of customers allows CleanChoice to expand access to climate solutions and speed the clean energy transition.

“Segment is a central piece of our data infrastructure that can grow with us, allowing us to work smarter, not harder. Data-driven customer insights translate to helping more customers be more sustainable. We maximize our ability to innovate at pace with this rich data at our fingertips,” said Tom Matzzie, Founder and CEO of CleanChoice Energy. “Properly utilizing customer data and insights is critical to speeding the clean energy transition.”

“Segment strives to build and promote data tools that can help our partners make the world a better place—and climate change is an issue that impacts everyone,” said Katrina Wong, VP of Marketing at Twilio Segment. “It’s exciting to be working with CleanChoice Energy to scale their marketing and personalization efforts to better match consumers with climate solutions.”

Achieving the scale and pace of clean energy growth necessary to avoid the worst impacts of climate change requires the leading marketing technology solutions. Despite the reductions in clean energy hardware costs over the last decade, soft costs, including customer acquisition, have remained stubbornly high. Utilizing best-in-class marketing technology can be the key to reducing the overall cost of climate solutions. With Segment, CleanChoice Energy is leveraging deeper insights to better inform customers of solutions that work. 

About CleanChoice Energy
CleanChoice Energy is a cleantech company that empowers people and businesses to easily access climate solutions. We use data-empowered technology to offer consumers easy, feel-good climate solutions so they can cut emissions, support renewable energy, and live cleaner lives. Founded in 2012, the company has become one of the fastest-growing businesses in America, as ranked on the Inc 5000 and Deloitte’s Technology Fast 500™. CleanChoice Energy is a Certified B Corporation and is certified with the highest available rating by Green America’s Green Business Network. For more information or to become a customer, visit CleanChoiceEnergy.com.

SOURCE CleanChoice Energy

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Atlantic Power Announces Closing of Transaction With I Squared Capital

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DEDHAM, Mass., May 14, 2021 /PRNewswire/ — Atlantic Power Corporation (NYSE: AT) (TSX: ATP) (“Atlantic Power”), announced today the closing (“Closing”) of its previously announced transaction with affiliates of infrastructure funds managed by I Squared Capital Advisors (US) LLC (the “Transaction”). In connection with the Transaction:

  • All of the common shares of Atlantic Power (“Common Shares”) were acquired for US$3.03 in cash per Common Share (less applicable withholdings).
  • All of the preferred shares of Atlantic Power Preferred Equity Ltd. (“APPEL”) were acquired by APPEL for C$22.00 in cash per preferred share (less applicable withholdings).
  • Atlantic Power Limited Partnership’s (“APLP”) 5.95% medium term notes due June 23, 2036 (“MTNs”) were redeemed for consideration equal to 106.071% of the principal amount of MTNs outstanding, plus accrued and unpaid interest on the MTNs up to, but excluding, the closing date of the Transaction. Holders of MTNs that delivered a written consent to the previously disclosed amendments to the trust indenture governing the medium term notes prior to 5:00 p.m. (Toronto time) on March 16, 2021 also received a consent fee equal to 0.25% of the principal amount of MTNs held by such holders.
  • Atlantic Power’s 6.00% Series E Convertible Unsecured Subordinated Debentures due January 31, 2025 (the “Convertible Debentures”) have been defeased effective as of Closing, as described below.

As previously announced, holders of Convertible Debentures that converted their Convertible Debentures during the period beginning on April 30, 2021 and ending at 4:00 p.m. (Toronto time) on May 11, 2021 (the “Conversion Deadline”) participated in the Transaction as holders of underlying Common Shares and will receive US$3.03 per underlying Common Share (including Common Shares issuable on account of the Make Whole Premium (as defined in the trust indenture governing the Convertible Debentures)), together with accrued interest paid in Canadian dollars up to, but excluding, the date of conversion. All Convertible Debentures that were not converted prior to the Conversion Deadline were defeased (the “Defeasance”).

Notwithstanding the Defeasance, any holder of Convertible Debentures who converts their Convertible Debentures during the period beginning today and ending at 5:00 p.m. (Toronto time) on June 14, 2021 (the “Make Whole Conversion Period”), will also be entitled to receive the Make Whole Premium. The Convertible Debentures are no longer convertible into Common Shares and holders are entitled to receive C$3.72 in lieu of each Common Shares previously issuable on a conversion (including any Common Shares otherwise issuable on account of the Make Whole Premium if converted within the Make Whole Conversion Period). Any Convertible Debentures which remain outstanding following the expiry of the Make Whole Conversion Period will continue to receive interest at a rate of 6.00% per annum, payable semi-annually in arrears up to but excluding, and the repayment of principal upon, the date of redemption of the Convertible Debentures at par on January 31, 2023.

In connection with the Transaction (i) the Common Shares will be de-listed from the TSX and the NYSE, (ii) the preferred shares of APPEL will be de-listed from the TSX, and (iii) the Convertible Debentures will be de-listed from the TSX, in each case shortly following Closing. Atlantic Power, APPEL and APLP intend to apply to Canadian securities regulators to cease being reporting issuers and Atlantic Power also intends to file to deregister under the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”).

Registered common shareholders of Atlantic Power and preferred shareholders of APPEL are reminded that they must properly complete, sign and return the letter of transmittal, along with their share certificate(s) (if any), to Computershare Trust Company of Canada, as depositary, in order to receive the consideration they are entitled to under the Transaction. Non-registered securityholders of Atlantic Power and its subsidiaries will receive the consideration they are entitled to under the Transaction through the intermediary in whose name their securities are registered.

About Atlantic Power

Atlantic Power is an independent power producer that owns power generation assets in eleven states in the United States and two provinces in Canada. The Company’s generation projects sell electricity and steam to investment-grade utilities and other creditworthy large customers predominantly under long–term power purchase agreements that have expiration dates ranging from 2021 to 2043. The projects are diversified by geography, fuel type, technology, dispatch profile and offtaker (customer). Approximately 75% of the projects in operation are 100% owned and directly operated and maintained by the Company. The Company has expertise in operating most fuel types, including gas, hydro, and biomass, and it owns a 40% interest in one coal project.

Copies of the Company’s financial data and other publicly filed documents are available on SEDAR at www.sedar.com or on EDGAR at www.sec.gov/edgar.shtml under “Atlantic Power Corporation” or on the Company’s website.

About I Squared Capital

I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, digital infrastructure, transport and social infrastructure in the Americas, Europe and Asia. Headquartered in Miami, the firm has over $27 billion in assets under management and offices in Hong Kong, London, New Delhi, New York and Singapore.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this news release may constitute forward-looking information or forward-looking statements within the meaning of applicable securities laws (collectively, “forward-looking statements”), which reflect the expectations of management regarding the future growth, results of operations, performance and business prospects and opportunities of the Company and its projects. These statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, can generally be identified by the use of the words “plans”, “expects”, “does not expect”, “is expected”, “budget”, “estimates”, “forecasts”, “targets”, “intends”, “anticipates” or “does not anticipate”, “believes”, “outlook”, “objective”, or “continue”, or equivalents or variations, including negative variations, of such words and phrases, or state that certain actions, events or results, “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. Examples of such statements in this news release include, but are not limited to, statements with respect to the payment of consideration to securityholders of Atlantic Power and its subsidiaries in connection with the Transaction, the delisting of the Company’s and APPEL’s securities from the TSX and NYSE (as applicable), the Company’s and its subsidiaries’ intentions to apply to cease to be reporting issuers in Canada and the Company’s intention to deregister under the Exchange Act, and the redemption of the Convertible Debentures.

Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not or the times at or by which such performance or results will be achieved. Please refer to the factors discussed under “Risk Factors” and “Forward-Looking Information” in the Company’s periodic reports as filed with the U.S. Securities and Exchange Commission (the “SEC”) from time to time for a detailed discussion of the risks and uncertainties affecting the Company. Although the forward-looking statements contained in this news release are based upon what are believed to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material. These forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to update or revise them to reflect new events or circumstances.

Contacts:

For Atlantic Power
Atlantic Power Corporation
Investor Relations
+1 (617) 977-2700
[email protected]

For I Squared Capital
Andreas Moon, Managing Director and Head of Investor Relations
[email protected]
+1 (786) 693-5739

SOURCE Atlantic Power Corporation

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Gold Prices Maintain Traction as Economies Begin Recovery

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NEW YORK, May 14, 2021 /PRNewswire/ — Gold prices breached the USD 1,800 mark earlier this month, for the first time since February. Despite the recovering economy and lower number of COVID-19 cases in the U.S., the government is still injecting liquidity into the financial system, as fiscal and monetary stimuli are being implemented. These measures, which are meant to help bring the economy back to pre-pandemic highs, have consequences, specifically the devaluation of the dollar and inflation. In a report by Kitco, Gary Wagner, editor of TheGoldForecast.com, explained that he believes that “we will see a new all-time record high in gold. I’m not optimistic as to believe it will happen, let’s say, over the next four months. However, I think it’s highly likely, based on certain parameters, that we do test $1,900 once again, and that could be over the next couple of months.” Gold Mountain Mining Corp. (TSX-V: GMTN) (OTC: GMTNF), Golden Star Resources Ltd. (NYSE: GSS), Equinox Gold Corp. (NYSE: EQX), B2Gold Corp. (NYSE: BTG), IAMGOLD Corporation (NYSE: IAG)

The economic conditions seem to be appropriate for gold, with various news reports around the world indicating strong demand for the yellow metal. For example, last month, Hungary’s central bank increased its gold reserves to 94.5 metric tons from 31.5 tons, citing “long-term national and economic policy strategy objectives.” Additionally, New York City real estate mogul Kent Swig has secured a minimum of USD 6 Billion in gold reserves to back his new cryptocurrency, according to Bloomberg.

Gold Mountain Mining Corp. (TSX-V: GMTN) (OTCQB: GMTNF) just announced breaking news, an updated National Instrument 43-101 Mineral Resource Estimate following the conclusion of its Phase1 drill program at the Elk Gold Project.  An updated technical report will be filed on the Company’s website and SEDAR within 45 calendar days of this disclosure.

Highlights:

  • Gold Mountain increases its resource estimate at its flagship Elk Gold Project to: 651,000 oz of Measured & Indicated Resources at 6.1 g/t Au and 159,000 oz of Inferred resource at 4.8 g/t Au.
  • The updated resource estimate represents an increase of 43% of Measure and Indicated ounces and 67% of inferred ounces.
  • This update to the mineral resources followed the Company’s successful $1,900,000 Phase 1 drill program that consisted of 8,739 metres of diamond drilling where all 41 holes hit mineralization.

Elk Gold Resource Update – Summary

The table below summarizes the updated resource estimate at the Elk Gold Project:

Classification

Tonnes

AuEq (g/t)

Au Capped g/t

Ag Capped g/t

AuEq (Oz)

Measured

196,000

9.9

9.8

9.9

63,000

Indicated

3,148,000

5.8

5.7

11.2

589,000

Measured + Indicated

3,344,000

6.1

5.9

11.1

651,000

Inferred

1,029,000

4.8

4.7

10.9

159,000

CIM definitions were followed for classification of Mineral Resources.

Mineral Resources are not Mineral Reserves and have not demonstrated economic viability.

Results are presented in-situ and undiluted.

Mineral resources are reported at a cut-off grade of 0.3 g/t Au for pit-constrained resources and 3.0 g/t for underground resources.

The number of tonnes and metal ounces are rounded to the nearest thousand.

The Resource Estimate includes both gold and silver assays.  The formula used to combine the metals is:

AuEq = ((Au_Cap*55.81*0.96) + (Ag_Cap*0.76*0.86))/(55.81*0.96)

The Resource Estimate is effective as of May 1, 2021.

Elk Gold Project Resource Estimate

The table below sets out the detailed results of the Mineral Resource estimate for Elk Gold Project.  The effective date of the resource estimate is May 1, 2021 (the “Resource Estimate“).

Classification

Tonnes

Au Equivalent (g/t)

Au Capped (g/t)

Ag Capped (g/t)

AuEq (Oz)

Elk Gold Pit-Constrained Resources

Cutoff Au Eq 0.5 g/t






Measured

196,000

9.9

9.8

9.9

63,000

Indicated

2,835,000

5.1

5.0

9.2

468,000

Measured + Indicated

3,031,000

5.4

5.3

9.3

531,000

Inferred

835,000

3.6

3.5

6.5

96,000

Elk Gold Underground Constrained Resources

Cutoff Au Eq 5.0 g/t






Measured

0

0

0

0

0

Indicated

313,000

12.0

11.6

29.3

120,000

Measured + Indicated

313,000

12.0

11.6

29.3

120,000

Inferred

194,000

10.1

9.9

18.5

63,000

Elk Gold Total Resources

Cutoff Au Eq 5.0 g/t






Measured

196,000

9.9

9.8

9.9

63,000

Indicated

3,148,000

5.8

5.7

11.2

589,000

Measured + Indicated

3,344,000

6.1

5.9

11.1

651,000

Inferred

1,029,000

4.8

4.7

8.8

159,000

CIM definitions were followed for classification of Mineral Resources.

Mineral Resources are not Mineral Reserves and have not demonstrated economic viability.

Results are presented in-situ and undiluted.

Mineral resources are reported at a cut-off grade of 0.3 g/t Au for pit-constrained resources and 3.0 g/t for underground resources.

The number of tonnes and metal ounces are rounded to the nearest thousand.

The Resource Estimate includes both gold and silver assays.  The formula used to combine the metals is:

AuEq = ((Au_Cap*55.81*0.96) + (Ag_Cap*0.76*0.86))/(55.81*0.96)

The Resource Estimate is effective as of May 1, 2021.

Several factors have contributed to the change in this resource estimate from previous estimates. The primary factors affecting that change are the addition of 41 new diamond drill holes, discovery of mineralized intercepts that were not sampled from historical drill cores, changes to the constraining pit shell parameters and changes to the vein model interpretation.

Mineral Resource Estimate Assumptions

Data Verification

The data that forms the basis for the Resource Estimate was verified by the Qualified Person using industry standard methods. Drill hole collar locations were confirmed with independent surveyors’ using high precision GPS equipment.  Analytical accuracy and precision are monitored using commercial standards, blanks, re-analysis of both coarse rejects and pulps. A review of all data inputs to the drilling database, both historical and recent, has allowed a sufficient level of confidence to include the drill database in the Resource Estimate. 

Key Assumptions and Parameters and Methods Used to Estimate Resources…

Qualified Persons

The foregoing technical information was approved by Grant Carlson, P.Eng., a Qualified Person, as defined under National Instrument 43-101 and the Chief Operating Officer for Gold Mountain Mining Corp.

The technical information relating to the resource estimate was prepared by Greg Mosher P. Geo (Global Mineral Resource Services) a Qualified Person as such term is defined under National Instrument 43-101 who is independent of Gold Mountain.”

Golden Star Resources Ltd. (NYSE: GSS) filed on March 1st, a National Instrument 43-101 technical report which includes a mineral reserve and resource update and a preliminary economic assessment of the potential expansion of the Southern Extension zone in the Wassa underground gold mine in Ghana. “In 2020, we focused on improving our geological confidence in the orebody through an extensive infill drilling program which has resulted in a significant increase in our measured resource and proven reserve. Converting the open pit reserve at Wassa to an underground reserve allows us to bring production from those areas forward with a lower upfront capital cost. Development of the Upper Mine will start to deliver production from 2023 and will provide a second decline access to the mine which can be incorporated into the long term mine design.

Equinox Gold Corp. (NYSE: EQX) announced on March 1st, that the Company has entered into an agreement with an affiliate of the Orion Mine Finance Group (“Orion”) to acquire 10% from Orion’s current interest in the Hardrock Mine Project (the “Hardrock Project”) for consideration of USD 51 Million plus certain contingent payment obligations (the “Hardrock Transaction”). Christian Milau, CEO of Equinox Gold, stated: “We are extremely pleased to increase our stake in this world-class Canadian gold deposit located in one of the world’s top mining jurisdictions. Hardrock will be a low-cost, long-life gold mine, bringing more than 240,000 attributable ounces of annual gold production to Equinox Gold when in production, with significant upside potential from near-mine exploration and underground development. We look forward to working with Orion to advance Hardrock to production, bringing long-term benefits to all stakeholders of the Hardrock Project and particularly First Nations and other communities in the Greenstone region of Ontario.”

B2Gold Corp. (NYSE: BTG) announced last year that its entire inventory of limited-edition Rhino Gold Bars have been sold, generating approximately USD 1.7 Million to support community-backed black rhino conservation efforts in northwest Namibia. All dollar amounts are in United Sates Dollars unless otherwise indicated. The Rhino Gold Bar initiative began in early 2020 when B2Gold announced the ground-breaking donation of 1,000 ounces of gold produced from the Company’s Otjikoto mine in Namibia to support the preservation of the black rhino population in the country and the communities that protect them. Commenting on the Rhino Gold Bar initiative, B2Gold President and CEO Clive Johnson said: “We are mining gold that was deposited in Namibia over 500 million years ago and using it to save an animal that has been roaming the planet for 50 million years. This is a whole new way of looking at conservation financing—creative conservation for the future of our planet.”

IAMGOLD Corporation (NYSE: IAG) reported on November 4th, its consolidated financial and operating results for the quarter ended September 30th, 2020.  “IAMGOLD performed well in challenging circumstances, generating $105.1 million in operating cash flows and producing 159,000 ounces of gold, resulting in $80.0 million in free cash flows from our operating mine sites,” commented Gordon Stothart, President and CEO of IAMGOLD.  “In the quarter, we successfully completed our new bond issuance, lowering our interest costs, extending the maturity to 2028 and enhancing our financial flexibility with a cash balance of approximately $900 million. This cash position, along with access to our largely undrawn $500 million credit facility, brings our total liquidity to over $1.4 billion, enabling us to cover our portion of Côté’s capital expenditures. Project engineering at Côté is now 66% complete, as early works continue and permitting advances to enable construction activities. Looking to the fourth quarter, production will be underpinned by Essakane and by Saramacca’s contribution to Rosebel. As reported Monday, we had a seismic event at Westwood, with all employees safely brought above ground. I would like to recognize our Westwood team for their safe and successful response to this event. The Westwood mill is expected to restart operations in the next few days while the underground mine operations remain suspended.”

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China Yuchai Announces Board Changes

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SINGAPORE, May 14, 2021 /PRNewswire/ — China Yuchai International Limited (NYSE: CYD) (“China Yuchai” or the “Company”) announced today that that Mr. Li Hanyang has been appointed as a Director of China Yuchai effective May 12, 2021.  Mr. Li replaces Dr. Han Yiyong who retired as a Director of the Company effective as of April 30, 2021.  

Mr. Li was recently appointed Chairman of the Board of the Company’s main operating subsidiary, Guangxi Yuchai Machinery Company Limited (“GYMCL”).  Mr. Li started his career at GYMCL as a production preparation section chief in 1993 and quickly rose to greater management responsibilities in 1995, and then he was promoted to factory manager at several plants before becoming the deputy general manager of GYMCL in 2000.  Since 2002, Mr. Li has served as chief engineer, director, and chairman of Guangxi Yuchai Machinery Group Co., Ltd. and its subsidiaries.

Mr. Li holds a Bachelor’s degree in mechanical design and manufacturing from Tsinghua University and an MBA from the School of Management, Huazhong University of Science and Technology.

The China Yuchai Board of Directors welcomes Mr. Li and also thanks Dr. Han for his contributions to the success of the Company since he joined the Board in 2010.  

About China Yuchai International

China Yuchai International Limited, through its subsidiary, GYMCL, engages in the manufacture, assembly, and sale of a wide variety of light-, medium- and heavy-duty engines for trucks, buses, passenger vehicles, construction equipment, marine and agriculture applications in China.  GYMCL also produces diesel power generators. The engines produced by GYMCL range from diesel to natural gas and hybrid engines.  Through its regional sales offices and authorized customer service centers, GYMCL distributes its engines directly to auto OEMs and retailers and provides maintenance and retrofitting services throughout China.  Founded in 1951, GYMCL has established a reputable brand name, strong research and development team and significant market share in China with high-quality products and reliable after-sales support.   In 2020, GYMCL sold 430,320 engines and is recognized as a leading manufacturer and distributor of engines in China. For more information, please visit http://www.cyilimited.com.

Safe Harbor Statement:

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”, “anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue to”, “predict”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements including, but not limited to, statements concerning China Yuchai’s and the joint venture’s operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. China Yuchai cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world and in China including those discussed in China Yuchai’s Form 20-Fs under the headings “Risk Factors”, “Results of Operations” and “Business Overview” and other reports filed with the Securities and Exchange Commission from time to time. Among others, if the COVID-19 pandemic is not effectively and timely controlled, our business operations and financial condition may be materially and adversely affected due to a deteriorating market for automotive sales, an economic slowdown in China and abroad, a potential weakening of the financial condition of our customers, or other factors that we cannot foresee. All forward-looking statements are applicable only as of the date it is made and China Yuchai specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.

For more information:

Investor Relations
Kevin Theiss
Tel: +1-212-521-4050
Email: [email protected]

SOURCE China Yuchai International Limited

Related Links

http://www.cyilimited.com

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Source: https://www.prnewswire.com:443/news-releases/china-yuchai-announces-board-changes-301291551.html

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