Yangzijiang Shipbuilding's gross profit jumps 64% YoY to RMB1.4b in H1

The jump was due to the higher contributions from all its business segments.

Yangzijiang Shipbuilding's (Yangzijiang) gross profit jumped 64% year-on-year (YoY) to RMB1.4b ($285.4m) in the first half (H1) of 2022, its latest financial statement revealed.

The company said the jump was due to its 70% higher revenue of RMB9.7b ($1.98b) backed by higher contributions from all segments.

Yangzijiang's core shipbuilding segment alone saw a 78% YoY jump in revenue (RMB8.5b / $1.74b), and a 68% YoY (RM1.1b / $224.86m) increase in gross profit. This as the company delivered 35 vessels in H1 2022 which is more than the H1 2021's record of 23.

Its shipping segment likewise posted double-digital increases in its revenue (+37% YoY to RMB561m/$114.7m) and gross profit (+45% YoY to RMB226m/$46.2m).

Yangzijiang said it is "well positioned to benefit from the ongoing upcycle for shipbuilding and extend its foothold to clean energy sectors."

"The shipping industry is expected to remain resilient amidst ongoing port congestions and limited infrastructure
conditions. Given Europe’s coal restocking demand, and China’s surging coal demand to support its economic recovery, we remain positive on the near-term outlook for shipping," the company said.

1 SGD = 4.89 RMB

Follow the link for more news on

Yangzijiang Shipbuilding

company revenue

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

Mi Material launches $215m IPO amidst Asia, US expansion plans

The company plans to establish an R&D and demo centre in Texas.Semiconductor materials unit Mi Material Holding Ltd has launched a $215m initial public offering (IPO) on the Singapore Exchange (SGX) Mainboard to support its expansion plans across Asia and the United States (US).

Markets

1 hour ago

Keppel REIT to buy 51% of Keppel South Central