Mainboard-listed Yangzijiang Shipholdings has reported earnings of RMB761.7 million ($155.7 million) for the 1QFY2021 ended March, 89% higher than earnings of RMB403.8 million for the 1QFY2020.

Despite the higher earnings, revenue during the period fell 25% y-o-y to RMB2.62 billion due to lower shipbuilding activities and lower trading revenue, but offset by revenue from other shipbuilding businesses due to an expanded fleet size and improved charter rates.

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