Yangzijiang Shipbuilding (YZJ)

Company in the news

Yangzijiang Shipbuilding subsidiaries have ‘reasonably good prospect of success’ in arbitration claims

The first tranche of the arbitrations is scheduled for November this year.

Broker's Calls

Analysts up Yangzijiang Shipbuilding’s TP after 1HFY2024 earnings beat estimates

DBS and Citi's target prices were raised to $2.88 and $3.14 respectively.

Results

Yangzijiang Shipbuilding reports record-high earnings of RMB3.06 bil for 1HFY2024, 77% higher y-o-y

Revenue rose by 15.3% y-o-y to RMB13.05 billion due to higher shipbuilding activities and better shipping charter rates.

Offshore & Marine

O&M stocks fly the flag following multibillion-dollar contract wins

Singapore-listed O&M stocks surged this past week, driven by strong orders for Seatrium and Yangzijiang Shipbuilding.

Right Timing

Rising tide lifts offshore plays, banks bounce back

Seatrium price rises ahead of Petrobras mega project award; banks bounce back but could stay volatile

Singapore economy

Briefs: Singapore businesses 'unsure', 'pessimistic' on three-year outlook

Other news this week: MAS proposes to increase deposit insurance coverage to $100,000 and more.

Broker's Calls

UMS and Rex’s CEOs most overpaid in 2022 relative to their share price performances: UOB Kay Hian

Companies that got the most value out of their CEOs were YZJ, Singtel and SIA.
Shipbuilder Yangzijiang acquires office building at 39 Robinson Road for $399 mil - THE EDGE SINGAPORE

Property

Shipbuilder Yangzijiang acquires office building at 39 Robinson Road for $399 mil

YZJ's chairman & CEO Ren Letian says "this is a one-off exercise", and the group's focus remains its core shipbuilding business.
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