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Yangzijiang posts 21% drop in gross profit to RMB1 bil in 3Q despite 25% jump in revenue

Samantha Chiew
Samantha Chiew11/1/2021 7:3 PM GMT+08  • 3 min read
Yangzijiang posts 21% drop in gross profit to RMB1 bil in 3Q despite 25% jump in revenue
Yangzijiang posts 21% drop in 3Q gross profit to RMB1 bil on lower gross margins
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Yangzijiang Shipbuilding announced in its 3QFY2021 ended September business update that its gross profit for the period came in 20.8% lower at RMB1 billion ($210.9 million) from RMB1.3 billion a year ago.

This came on the back of at 25% y-o-y increase in revenue to RMB4.5 billion from RMB3.6 billion last year, attributable to higher contribution from the group’s core shipbuilding segment, as well as its shipping and Other segment, partially offset by lower contribution from the group’s investment segment.

See: Brokers' Digest 966

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