In today's world, it's no exaggeration to call the economic crisis a "tsunami." The impact is felt across industries, and even major players like Yuchai are not immune. A high-level source from one of Yuchai’s suppliers shared with reporters that the company had moved its visit schedule forward due to a full-day shutdown. “Since October, we’ve been a long-term supplier for Yuchai, but we haven’t received any orders in recent days—only now have we finally gotten one,” the source said. Compared to previous supply patterns, this drop has been very noticeable. As China’s leading engine manufacturer, Yuchai is also the largest independent diesel engine producer globally and the biggest domestic exporter of small- and medium-sized construction machinery. Over the past seven years, it has maintained double-digit growth thanks to strong innovation capabilities. With 37 subsidiaries and 16,000 employees, the company holds total assets worth 11.6 billion yuan. However, the financial crisis has hit hard. Some netizens on a Yulin forum, claiming to be Yuchai employees, expressed their concerns: “The financial crisis has arrived. Yuchai has started layoffs. This winter feels especially cold.” To understand the real situation, the reporter reached out to the Enterprise Planning Department at Yuchai. A representative confirmed that operations were normal, and production was ongoing. When asked about the supplier’s claims, they admitted, “There may be partial production stoppages, but it’s due to delays in parts supply—this is a common issue.” They declined further interviews. The reporter also spoke with logistics companies and supporting firms involved in Yuchai’s supply chain. One unnamed employee noted that the usual peak season in October and November had seen a sharp decline in activity. “Both Yuchai and Liugong have cut output significantly, which has affected our business volume,” he said. His company mainly profits from transporting Yuchai’s engines and construction equipment, as well as Liugong’s heavy machinery. The downturn in both companies has led to idle work hours in their departments. Shenfeng Power, a key processing partner for Yuchai, reported that by the end of October, it had already achieved 230 million yuan in sales income out of a planned 300 million for 2008. “Production was good in the first half, but it has declined month by month since the second half. October saw the lowest capacity in recent years,” a company official explained. As a result, the firm has implemented flexible shifts—sometimes two shifts in three, or one shift with rotation. Zhong Yuwei, Yuchai’s overall product planner, acknowledged the impact of the crisis. “September was still normal, but from October, we began to feel the severity of the economic downturn. Demand dropped sharply, and production cuts followed,” he said. He added that Yuchai’s current production is down by over 20% compared to last year. While supply chain delays play a role, the main cause is a significant drop in demand from vehicle manufacturers. He emphasized that the export market has been hit harder than the domestic one. “Our overseas markets are mainly in Vietnam and Russia, where the crisis has directly affected demand. Tightened credit policies in importing countries have led to a sharp decline in export orders.” Regarding the rumors of layoffs, Zhong denied it. He said wages remain unchanged, though piece-rate workers see reduced income due to lower production. “The economic crisis is beyond any single company’s control. Right now, Yuchai is focusing on expanding into new markets to boost sales and production,” he said reluctantly. Interestingly, during the investigation, the reporter learned that Shangchai, another major player, has also experienced intermittent production stoppages. The situation remains uncertain, but Yuchai continues to navigate through these challenging times.

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