Barely five hours before the market opened that same morning, YFH had released its financial results for FY2022 ended December 2022. Despite the 50% y-o-y drop in earnings to $162 million, YFH’s share price did not fall. Instead, it ended the day at 37 cents, up 5.71%. “Worst could be over,” reads a March 1 report by CGS-CIMB analysts Izabella Tan and Lim Siew Khee, who have an “add” call and 64 cents target price on the stock.
On the morning of March 1, Ren Yuanlin made his very first in-person visit to the new Singapore office of Yangzijiang Financial Holding (YFH). No thanks to the travel restrictions in China, it was his first visit in three years.
Moments before he showed up, his colleagues from YFH and Yangzijiang Shipbuilding Holdings (YZJ), from which YFH was spun out last April, left their desks and waited at the lift lobby, cheering and clapping as he stepped out of the lift.
