Yangzijiang Shipbuilding continues earnings rally; shares gain 11%
The counter finishes S$0.46 higher at S$4.66, with a turnover of 77 million shares worth S$350.6 million
Yangzijiang Shipbuilding's shares surged 11% on Tuesday, closing at S$4.66 after trading 77 million shares worth S$350.6 million. The rise follows a 6.6% increase on Friday, when the company reported a 28.4% jump in net profit to 5.4 billion yuan for its first half, up from 4.2 billion yuan in H1 FY2025. Higher shipbuilding revenue from constructing vessels at higher contract prices and a shift towards building ultra-large liquefied natural gas dual-fuel container ships and very large ethane carriers contributed to the earnings growth.
Shipbuilding activities at Yangzijiang's new Hongyuan yard also began, boosting the company's prospects. Net profit per share for the half-year stood at 136.4 fen, up from 106.02 fen the previous year, while revenue rose 36.2% to 17.5 billion yuan from 12.9 billion yuan a year earlier. Analysts from Citi and CGS International raised their target prices for the shares and maintained positive outlooks, but cautioned that the positive momentum would depend on securing significant order wins in the near future.
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