This was attributable primarily to government-mandated lockdowns in China due to the Covid-19 outbreak, which had in turn led to a 44% fall in Yangzijiang’s revenue figures to RMB3.5 billion from RMB6.3 billion last year.
SINGAPORE (May 4): Year to date, shares in Yangzijiang Shipbuilding have tanked 17%. And according to analysts, the counter’s current low valuation is “unjustified” as the group has demonstrated resilience during industry downturns with “decent profits and dividends”.
In its latest earnings call on Apr 30, the group reported a 51% decline in earnings to RMB403.8 million ($80.6 million) for 1QFY2020 ended March from RMB824.1 million a year ago.
