Yangzijiang Maritime shares down 8.5% after H1 profit drops
Counter falls 9.3% on Wednesday morning, but later pares some losses
Yangzijiang Maritime's shares plunged 8.5% on Wednesday, August 12, following a sharp decline in its first-half net profit. The company's stock fell to as low as S$0.585 during early trading, down S$0.06 from its opening price. Despite a temporary dip, the shares recovered midday and closed 8.5% lower at S$0.59. In its earnings report, Yangzijiang Maritime disclosed a 29% drop in net profit to US$44.9 million for the six months ended June 30, 2025, compared to US$63.5 million in the same period last year.
This decline, however, was accompanied by a 49% year-on-year increase in total income to US$81.6 million. The company's earnings were impacted by higher operating expenses linked to its expansion of maritime fund assets and foreign exchange losses. DBS Bank noted that while core performance was broadly in line, the net profit was positively influenced by higher fair-value gains and other income.
The bank highlighted that the company's balance sheet remained unleveraged, providing ample room for fleet growth. DBS reiterated its "buy" recommendation, setting a target price of S$0.88, but cautioned that earnings were still "under review."
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
