Yangzijiang Shipbuilding (Holdings) has reported FY2020 earnings of RMB2.5 billion, down 19% from the preceding year. Revenue in the same period was down 37% to RMB14.8 billion.

Despite the full-year earnings decline, there was a marked improvement in 4QFY2020. Revenue for the quarter ended Dec 31 2020 was down 38% y-o-y to RMB3 billion. 

However, due to a more favourable mix of higher-margin contracts and other factors, earnings for the quarter was up 17% y-o-y to RMB753.5 million.

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