“We lift our order win targets for FY2025/FY2026 to US$5.5 billion p.a. from US$5.2 billion previously. We also note that there are options from the recent contracts awarded by Hapag Lloyd and Maersk for conversion by 1QFY2025,” write Lim and Kande in their Nov 8 report.
CGS International (CGSI) analysts Lim Siew Khee and Meghanan Kande are keeping their “add” call on Yangzijiang Shipbuilding at an unchanged target price of $3.20 following the company’s 3QFY2024 ended Sept update.
Yangzijiang Shipbuilding has guided for a higher FY2025 order win target of over US$4.5 billion ($6.02 billion) due to the planned capacity addition in Xinqiao Park of the Jingjiang Economic and Technological Development Zone, which will likely add capacity for 12 units of mid-sized vessels per annum (p.a.).
