Analysts from DBS Group Research and CGS-CIMB Research have both maintained their respective “buy” and “add” calls for Yangzijiang Shipbuilding with increased target prices after the company announced its FY2020 results on Feb 25.

Yangzijiang’s 4QFY2020 earnings increased 17% y-o-y on the back of stronger margins from delivery of large-sized containerships. However, full-year earnings fell by 19% to RMB2.5 billion ($518.0 million) due to forex losses.

But DBS analyst Ho Pei Hwa notes that despite the losses, Yangzijiang’s earnings remain broadly in-line with expectations and show commendable performance. 

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