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Yangzijiang reports 1HFY21 earnings of RMB1.6 bil, sitting on record order book

The Edge Singapore
The Edge Singapore • 1 min read
Yangzijiang reports 1HFY21 earnings of RMB1.6 bil, sitting on record order book
he company is now sitting pat on a record orderbook of US$8.65 billion for 167 vessels
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Yangzijiang Shipbuilding (Holdings)’s revenue for 1HFY2021 was down 20% y-o-y to RMB6.6 billion, as the company delivered a smaller number of completed vessels.

However, its earnings for the same period increase by 39% y-o-y to RMB1.6 billion, as it recorded other gains of RMB351.7 million, including higher fair value gain on financial assets, favourable foreign exchange gains, as well as gains from the sale of a vessel.

The company is now sitting pat on a record orderbook of US$8.65 billion for 167 vessels, which includes orders for 112 vessels won thus far this year.

“Yangzijiang’s best year in terms of the value of contract wins and outstanding orderbook speaks to the strength and reputation of our shipbuilding business,” says executive chairman and CEO Ren Letian.

Yangzijiang shares closed Aug 5 at $1.44, up 0.7% for the day and 48.45% year to date.

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