Yangzijiang Shipbuildilng (YZJ)

The company also reveals its plan to list the spin-off on the Singapore Exchange mainboard.

Yangzijiang posts 21% drop in 3Q gross profit to RMB1 bil on lower gross margins

Here are some of brokers' stock picks this week.

"In our view, there will be more orders to come in the near to medium term," says UOB Kay Hian analyst Adrian Loh.

Sail with this stock towards a rosy outlook

CGS-CIMB analyst Lim Siew Khee says Yangzijiang Shipbuilding’s (YZJ) 2Q20 earnings of RMB773.9 million ($152.6 million) came in line with the brokerage’s expectations and consensus despite the 17% y-o-y fall.

“While share price drivers appear to be thin on the ground at present, we believe the business conditions faced by YZJ will trough over the next four months,” says UOBKH analyst Adrian Loh.

"Yangzijiang has demonstrated its resilience during industry downturns with decent profits and dividends, supported by a strong balance sheet,” says DBS Research Group analysts

JNCT’s main business activity will focus solely in investment activities, which will allow New Yangzi to focus on its core shipbuilding business.

Despite the decreases in Yangzijiang’s topline figures for 2QFY2020, market watchers are confident this is a stumble, and the group remains poised to navigate through the rough waters.