The 20th World Brand Summit sponsored by World Brand Lab was held in Beijing today. At the conference, the report on and list of China's 500 Most Valuable Brands of 2023 were released.

According to this annual report that takes into account financial data, brand strength, and consumer behavior, Yuchai's brand value increases to RMB 85.806 billion, ranking 101st in the list and the first in the internal combustion engine industry for the 18th consecutive year.

As a leading enterprise in China's internal combustion engine manufacturing industry, Yuchai has seen its brand value rise year by year since it was selected into the list in 2006.

In recent years, Yuchai has firmly implemented the "concentric circles" strategy and the "1235" strategy, pooled innovative elements, and focused on engines as the core business. It is building its brand around the positioning of "YC DIESEL, Great Power", endeavoring to create a differentiated brand image featuring "independence and professionalism".

Yuchai is the No. 1 brand for marine & G-drive engines, medium- and heavy-duty truck engines, bus engines, and agricultural machinery engines in China, with traditional power products widely used in commercial vehicles, agricultural machinery, construction machinery, ships, and power generation units. It is also the new energy powertrain provider with the most complete product portfolio in China, developing pure electric products. such as hybrids, range extenders, fuel cells, electric drive axles, and motors.

Yuchai is the manufacturer of the world's first power-split plug-in hybrid, the world's first CVT （Continuously Variable Transmission） hybrid powertrain, and China's first hydrogen-fueled engine for commercial vehicles. These products have been successively applied in commercial vehicles, agricultural machinery, and other fields, making Yuchai a "wind vane" in the industry.

So far, Yuchai has produced and sold more than 10 million engines, providing products and service support for customers in over 180 countries and regions. It is accelerating the pace of going overseas as a Chinese power brand.

World Brand Lab is an international brand value research institute founded on the initiative of the 1999 Nobel Laureate Robert Mundell, who served as its first chairman. For many years, World Brand Lab has measured brand value by integrating consumer research, competitive analysis, and projections of enterprises' future revenues. It has published the "China's 500 Most Valuable Brands" list for 20 consecutive years, which has been widely recognized in the management community with broad social influence.