The shipbuilder’s earnings came in at RMB595.2 million ($118.8 million) for 3Q2020 ended Sep 30, down 17% from the previous year due to impairments and forex losses of RMB367 million.
Yangzijiang Shipbuilding seems to be sailing on calm waters, despite the choppiness brought on from the uncertainty of the Covid-19 pandemic.
Calling the counter a “distinctive economic moat,” DBS Research Group analyst Ho Pei Hwa notes that it has “demonstrated earnings resilience during downturns, bolstered by a strong balance sheet with stable investment income”.
