From a recent peak of $3.30 on Feb 20, Yangzijiang shares plunged by nearly a third to close at $2.38 on Feb 28.
Despite reporting FY2024 earnings that surged by two-thirds and proposing a final dividend that is nearly from last year's, shipbuilder Yangzijiang Shipping (Holdings) suffered a sell-down from jittery investors over worries that US proposals to charge up to US$1.5 million for Chinese-built vessels entering US ports.
While most analysts remain upbeat on the company's prospects, some of them have slightly trimmed their target prices.
