According to Clarksons, the company in FY2024 delivered 64 vessels - mainly higher-margin containerships, slightly beating its target of 63 ships. In the preceding 2023, it delivered 57 vessels.
Lim Siew Khee and Meghana Kande of CGS International have maintained their "add" call on Yangzijiang Shipbuilding. As they have raised their earnings estimates to take into account higher revenue and margins, they have derived a higher target price of $3.62 from $3.20 previously.
In their Jan 7 note, the analysts expect the company to report on Feb 27 2HFH2024 earnings of RMB3.2 billion, up 33% y-o-y, thanks to stronger deliveries and margins.
