Thank you for standing by, and welcome to China Yuchai International Limited first of 2022 financial results. At this time, all participants are in listen only mode. After the speaker presentation, there will be a question and answer session. To ask a question, you will need to press star one and one on your telephone. I would now like to turn the conference over to Kevin Theiss. Please go ahead, sir. Thank you for joining us today, and welcome to China Yuchai International Limited first half-year ended June 30th, 2022 conference call and webcast. Joining us today are Mr. Weng Ming Hoh and Mr. Choon Sen Loo, President and Chief Financial Officer of China Yuchai International respectively. In addition, we also have in attendance Mr. Kelvin Lai, Vice President of Operations of China Yuchai International. Before we begin, I will remind all listeners that throughout this call, we may make statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words believe, expect, anticipate, project, target, 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 include, but are not limited to, statements concerning the company's operations and financial performance and condition, and are based on current expectations, beliefs, and assumptions, which are subject to change at any time. The company cautions that these statements, by their nature, involve risk and uncertainty, and actual results may differ materially depending upon 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 the company's Form 20-F under the headings Risk Factors, Results of Operations, and Business Overview, and in other reports filed with the Securities and Exchange Commission from time to time. If the COVID-19 pandemic is not effectively controlled, our business operations and financial condition may be materially 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, potential adverse impact to our suppliers and supply chain, or other factors that we cannot foresee. All forward-looking statements are applicable only as of the date they are made, and the company specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in the press release or made during today's call or otherwise in the future. Mr. Hoh will provide a brief overview and summary, then Mr. Loo will review the financial results for the first half year ended June 30, 2022. Thereafter, we will conduct a question and answer session. For the purposes of today's call, the 2022 and 2021 financial results are unaudited, and they will be presented in RMB and U.S.$. All the financial information presented is reported using the International Financial Reporting Standards as issued by the International Accounting Standards Board. Mr. Hoh, please begin your prepared remarks. Thank you, Calvin. Slow growth in China. The Chinese economy in the first half of 2022 continued from the last part of 2021. China's GDP growth was 22.5% year-over-year in the first half of 2022, and 0.4% in the same quarter of 2022 respectively. Contrasted with the 12.7% growth experienced in first half of 2021. According to data reported by China Association of Automobile Manufacturers, total industry unit sales of commercial vehicles excluding gasoline-powered and electric-powered vehicles declined by 49.7% year-over-year, with truck and bus unit sales down by 50.9% and 35.1% respectively in the first half of 2022. The industry sales decline was primarily due to lower demand from last year's high base in the first half of 2021 and pandemic-related lockdowns and travel restrictions in various parts of China. These factors caused lower commercial vehicle demand due to less logistical activities and fewer infrastructure and construction projects. In this unsettled Chinese commercial vehicle environment, our main subsidiary, Guangxi Yuchai Machinery Company Limited, GYMCL, reported a combined truck and bus unit sales decline of 56.8% year-over-year in the first half of 2022. Truck sales were 58.7% lower and bus sales declined by 34.6%. GYMCL's engine sales in the off-road markets experienced a more modest unit sales reduction of 12.7% year-over-year in the first half of 2022. Our overall sales revenue in the first half of 2022 declined by 32.2% year-over-year to CNY 8.6 billion or $4.3 billion, compared with CNY 12.6 billion in the same period of last year. Our gross profit declined by 16.2%, much less than our sales decline, to CNY 1.4 billion or $202.7 million. Our gross margin improved by 3%- 15.9% from 12.9% in the first half of 2021. In addition to lowering production costs, our cost-cutting initiatives reduced other operating expenses, generating operating profits in the first half of 2022 despite higher investment in our research and development. We increased our investment in research and development, R&D, by 5.9%, including capitalized costs, to CNY 476.9 million or $71.1 million in the first half of 2022. These expenditures represented 5.6% of total revenues, compared with 3.6% in last year's same period. We continue to improve the performance and quality of our National VI engines already in the marketplace, even as we prepare for the deployment of our Tier 4 off-road engine portfolio later in 2022, where the emission standard is implemented across China. Some R&D has been redirected in 2022 to Tier 4 engines. We have also increased our R&D resources to advance our new energy vehicle technologies to accelerate product development. In the first half of 2022, we generated net profit with basic and diluted earnings per share of RMB 2.29 or $0.34. Our GYMCL subsidiary has made strategic initiatives in 2022 to continue to improve our NEV capabilities and other technologies. Following the introduction of its hydrogen engine for China's commercial vehicle market in late 2021, GYMCL introduced in July 2022 the new heavy duty hydrogen engine, YCK15H engine. Our joint venture, Beijing Yuchai Xingshunda New Energy Technology Co., Ltd., with Beijing Xing Shun Da Bus Co., Ltd., was incorporated to combine the partners' resources to market and sell fuel cell powertrain. The City of Macau is operating 222 new energy buses equipped with Yuchai's range extender. More than 600 units of Yuchai's core range extender were ordered for the Macau bus market. Yuchai's range extender provides a fuel saving of up to 50%. Other developments in the first half of 2022 include our 50/50 joint venture between GYMCL and MTU Friedrichshafen GmbH, a subsidiary of Rolls-Royce Power Systems, has produced its 1,000th unit of MTU Series 4000 high horsepower diesel engines, primarily for the Chinese off-road market. GYMCL's upgraded Yuchai S04220-61 series of engines has been certified by the UN R49.07 Euro 6e stage emission standard of TÜV Rheinland Greater China, providing us greater access to European and American markets. GYMCL subsidiary Guangxi Yuchai Machinery Monopoly Development Company Limited forms a new joint venture with Suzhou Yising Automobile Technology Company Limited to enhance the nationwide engine services and emergency support for all vehicles powered by Yuchai engines in China. GYMCL's YC6GN 7.8-liter heavy-duty natural gas engines became the exclusive engine to power 800 Ankai buses shipped to Monterrey, Mexico, that country's third-largest city. YC6GN is providing a more environmentally friendly bus solution. As at June 30th, 2022, we maintain our cash and bank balances of CNY 5.3 billion or $783.5 million. After reviewing 2021 earnings and cash flows, current operations, as well as the operating and capital budget for 2022, the board of directors declared the cash dividends of $0.14 per ordinary share for the year ended December 31st, 2021, which was paid on July 15th, 2022. Our large portfolio of advanced National VI engines is generating sales and safeguarding our market position in the Chinese on-road markets in this uncertain market. Meanwhile, our portfolio of Tier 4, Tier 4 engines is ready to go when those emission standards are implemented nationwide in China this year. We are pleased with customers' acceptance of our NEV technology, and we expect to introduce more NEV products in the future to enhance the capabilities of customers' vehicles. With that, I would now like to turn the call over to Choon Sen Loo, our Chief Financial Officer, who will provide more details on the financial results. Choon Sen, you may begin your remarks. Thank you, Weng Ming Hoh. Now, let me review our first six months results ended June 30th, 2022. Our revenue was CNY 8.6 billion or $1.6 billion, compared with CNY 12.26 billion in the same period last year. Reflecting the above industry conditions, the total number of engines sold by GYMCL in first half 2022 was 180,911 units, 36.6% decrease compared with 285,342 units in same period last year. GYMCL reported a 56.8% decline in truck and bus engine sales, and a 12.7% decline in off-road engine sales in the first half 2022. Gross profit was CNY 1.4 billion or $202.7 million, compared with CNY 1.6 billion in the same period last year. Gross margin increased to 15.9% compared with 12.9% in the same period last year. The increase in gross margin was mainly attributable to improved margin in National VI engine sales, and also to the increase in sales mix in the off-road engine segment in first half 2022. Other operating income was CNY 85.5 million or $12.7 million, compared with CNY 111.7 million in first half 2021. The decline was primarily due to lower interest income and higher foreign exchange losses compared with the same period last year. Research and development, R&D expenses increased by 29.4% to CNY 408.95 million, or $60.9 million, compared with CNY 315.7 million in the same period last year. Higher R&D expenses in first half 2022 were mainly due to an increase in experimental costs, primarily for the engines used for marine and power generation applications. GYMCL continue to improve the performance and qualities of its engines in compliance with China's National VI and Tier 4 emission standards, and develop products for new energy vehicles. The total R&D expenditure, including capitalized costs, was CNY 476.9 million or $31.1 million in first half 2022, as compared to CNY 450.2 million in the same period last year, representing 5.6% of revenue compared with 3.6% in the same period last year. Selling, general, and administrative, SG&A, expenses represented 8.7% of revenue for first half 2022 compared with 7.3% in the same period last year. SG&A expenses decreased by 18.5% to CNY 749.6 million or $111.7 million, from CNY 920.1 million in the same period last year. The decrease was mainly due to lower warranty and freight expenses and reduced personnel costs compared with the same period last year. Other operating profit decreased by 42.4% to RMB 288 million or $42.9 million, from RMB 499.8 million in the same period last year. The operating margin was 3.4% for first half 2022, compared with 4% in the same period last year. Finance costs decreased by 19.3% to RMB 55.2 million, or $8.2 million, from RMB 68.4 million due to lower bank loans and lower bills discounting rates compared with the same period last year. The share of financial results of the joint ventures was a loss of CNY 30.9 million or $4.6 million for first half 2022, compared with a profit of CNY 12.5 million in the same period last year. The loss was largely due to the loss in our joint venture with the heavy duty truck producer, CNHTC. Net profit attributable to equity holders of the company was CNY 93.7 million or $14 million, compared with CNY 253.7 million in the same period last year. Basic and diluted earnings per share were CNY 2.29 or $0.34, compared with CNY 6.21 in the same period last year. Basic and diluted earnings per share for first half 2022 and first half 2021 were based on a weighted average of 40,858,290 shares. Now, let me walk you through our balance sheet highlights as of June 30, 2022. Cash and bank balances were CNY 5.3 billion or $783.5 million, compared with CNY 5.3 billion at the end of 2021. Trade and bills receivables were CNY 6.6 billion or $982.6 million, compared with CNY 7 billion at the end of 2021. Inventories were CNY 4.0 billion or $601.8 million, compared with CNY 5.2 billion at the end of 2021. Trade and bills payables were RMB 6.1 billion or $904.9 million, compared with RMB 7.4 billion at the end of 2021. Short-term and long-term bank borrowings were RMB 2 billion or $296 million, compared with RMB 2.2 billion at the end of 2021. I will now turn the call over to Kevin for a comment before we begin our Q&A. Please note that due to COVID-19, some officers of China Yuchai International are remotely calling into the conference call. This may result in a slight delay in providing answers to some questions. We apologize for any inconvenience, and thank you for your patience. With that operator, we are ready to begin the Q&A session. Ladies and gentlemen, we now begin the question and answer session. If you wish to ask a question, please press star and one on your telephone. Star one and one on your telephone, if you wish to ask a question. We have one question. Just stand by. We got a question from William Gregozeski. Please go ahead. Hi. I have a couple of questions. What% of the unit sales and the revenue was outside of China for the first half of 2022, and then also the first half of last year? Okay. In the first half of 2022, in terms of unit sales, we probably have about 10%-12% of our unit sales are from outside China. From our export. Even when it says export, this includes export that we export through the OEMs in China. The actual direct sales outside China directly to those end user is actually quite very low. It's probably less than 5%. Last year was not that good because last year the rest of the world was kind of affected by the COVID-19 pandemic. The amount of export sales as a ratio for the first half was actually quite low. There are two reasons. One is the export sales number unit is lower. Two, because last year in China there was this emission upgrade from July 1st, 2021, and there was quite a significant pre-buy. That helped depress, compress the ratio a fair bit. Yeah. Okay. All right. What is your outlook for the engine market in China for the remainder of this year and then next year? This is a difficult question to answer. We had a rather weak commercial market this year simply because of a few factors. One is the first half of last year, there was a lot of pre-buy, so it was actually quite a buoyant market. This year, the decline due to quite a few factors. One is the significant lockdown of various parts of the country. That affected the logistics and as well as the construction infrastructure quite a fair bit. That affected not only the commercial vehicles but also the construction machinery as well. In May last year, if you have read, the government came up with quite a lot of measures to try to get the economy going again. We have to wait and see how this is gonna trickle down to the entire economy. As for now, it's still early days, so it's gonna be quite difficult for me to judge actually how it's gonna look like for the rest of the year and into next year. I personally think that you'll see some green shoots in the fourth quarter, and hopefully that will flow on over to the next financial year. Okay. Last question. Outside of the Macau range extender announcement, can you give updates on the progress of the other new energy products you guys are developing? Okay. The main one that we have right now in terms of new energy is actually the range extender. The range extender that we have is quite well accepted. We are now working with not just the on-road OEMs, but also some off-road OEMs who are also interested in this product of ours. We're still developing the bigger range for this product, so it will take a little while for it to fully develop. We do see quite a fair bit of potential there. The other one that's doing quite well, quite a fair bit of sales for us is actually pure electric vehicles that we are doing some integration work for. That one we do sell some as well. The market for fuel cells actually were still quite slow right now. It hasn't quite taken off yet. It's still in the early stage. We have not had the many that we sold. In fact, we have only got 1 or 2, a couple prototype out there in the marketplace. But that will take some time. That one again for hydrogen powered vehicles, the market is still in the early stage of development. We are still working on it. Okay. All right. Thanks, Meng. Yeah. Thank you for your question. There are no further questions at the moment. We have now reached the end of the Q&A session. I will turn the call back over to Mr. Hoh. Please go ahead. Thank you all for participating in our conference call. We wish each of you good health, and please be safe. We look forward to speaking with you again. Goodbye. That concludes the conference for today. Thank you for participating. You may now disconnect.