On May 24, 2018, Shah Capital Management, Inc announced that it sent a letter to China Yuchai International Limited requesting the Company board discuss the following proposals at the upcoming annual general meeting. 1) to allocate all future free cash flow towards annual dividend, stock buy-backs or through M&A; 2) to establish a financial leasing company; 3) Dual listing in Hong Kong or Shenzhen/Shanghai; 4) retain an investment advisory firm to have Company included in passive indices including MSCI China and FTSE Russell; 5) to consider adding/changing current board and top management; and 5) to invest selectively and carefully into NEV space.