Yangzijiang’s profit attributable to shareholders rises 47% YoY to RMB1.7b in 1H23

The company attributed its improved profit to increased shipbuilding activities.

Yangzijiang Shipbuilding’s profit attributable to equity holders rose 47% YoY to RMB1.7b ($318.5m) in 1H23, its latest financial statement revealed.

In 1H23, the company also recorded a higher revenue (+16% YoY) and gross profit (+48% YoY) of RMB11.3b ($2.1b) and RMB2.1b ($393.4m), respectively.

The company attributed its improved profit and revenue to “increased shipbuilding activities.”

“Revenue from the core shipbuilding business improved in line with the heightened progressive construction activities with top-line contributions reaching a record high of RMB10.7b ($2.0m) in 1H2023, up 25% YoY,” the company stated.

As of the end of 1H23, Yangzijiang's total outstanding order book amounted to US$14.70b ($19.7b) for a total of 181 vessels.

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