Yangzijiang Maritime shares down 9.3% after H1 profit drops
Its counter falls as low as S$0.585 in the first 17 minutes of trading
Yangzijiang Maritime's stock plummeted by 9.3% in early trading on Wednesday following a drop in first-half net profit, which fell to US$44.9 million, a 29% decrease from the previous year. The share price reached its lowest point at S$0.585 within 17 minutes of trading, before modestly recovering to S$0.59 by midday when about 7.7 million securities were exchanged.
The company's net profit for the first half ended June 30, 2025, was significantly lower than the US$63.5 million reported in the same period of 2025. Despite a 49% year-on-year increase in total income to US$81.6 million, earnings were adversely affected by increased operational costs linked to expanding maritime assets and foreign exchange losses.
DBS Bank noted that while core performance was "broadly in line," net profit was elevated by higher fair-value gains and other income. The bank highlighted the company's unencumbered balance sheet as providing "ample room for fleet growth," forecasting the delivery of 6 to 8 new-build vessels in the second half of 2026 and approximately 15 in 2027.
DBS maintained a "buy" recommendation with a target price of S$0.88 but stated that earnings were still "under review."
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