Yangzijiang Shipbuilding posts record earnings of 4.2 billion yuan for H1
[SINGAPORE] Yangzijiang Shipbuilding posted a record-high net profit of 4.2 billion yuan (S$752.6 million) for the six months ended Jun 30, 2025, marking a 36.7 per cent surge from 3.1 billion yuan for the same period a year earlier.
This comes as an associated company has started to contribute meaningfully.
In a regulatory filing on Wednesday (Aug 6), the mainboard-listed shipbuilder posted a 1.3 per cent year-on-year drop in revenue for H1 FY2025, to 12.9 billion yuan.
The decrease was mainly caused by lower contributions from the shipbuilding segment, as it has begun the construction of oil tankers, which the group said “carry a lower average unit price than container ships”.
There was also a decline in revenue for the shipping segment – down 15.4 per cent year on year to 511.4 million yuan – which Yangzijiang said was due to lower charter rates.
However, other businesses, which include trading, ship design services and investment property, contributed 153.2 per cent higher revenue at 117.1 million yuan for H1.
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Contributions from associated companies and joint ventures improved by 79 per cent year on year, to 481.4 million yuan. These included a contribution of 320 million yuan from Yangzi-Mitsui Shipbuilding, and 160 million yuan from Tsuneishi Zhoushan, in which the group completed its capital injection for a 34 per cent equity stake in the first quarter of 2025.
Yangzijiang’s net profit margin improved to 32.5 per cent, from 23.4 per cent for the year-ago period; earnings per share rose to 1.0602 yuan from 0.7742 yuan.
Net asset value per share stood at 7.048 yuan as at Jun 30, higher than 6.6517 yuan as at Dec 31, 2024.
Yangzijiang said that, during H1 FY2025, it clinched contracts amounting to US$537.2 million for 14 vessels, with approximately 85 per cent for container ships. This raised the group’s total outstanding order book to US$23.2 billion for delivery through 2029 and beyond.
No dividend was declared for the period. Shares of Yangzijiang closed 2.3 per cent or S$0.06 up at S$2.63 on Wednesday, before the results were posted.
