It may not be entirely fair to compare the two counters with each other, considering YZJS is a shipbuilder while YFH is a financial investor. But some of their interests overlap and centre on the same industry trends that both companies are riding high on. Besides, YFH is led by Ren Yuanlin, who previously helmed YZJS and is a self-styled “old soldier” of capital markets and the marine industry.
Yangzijiang Shipbuilding (YZJS) was the best performer among Singapore blue chips in 2024. Powered by a surge in new orders of more than US$14 billion — well in excess of the company’s US$4.5 billion target — the share price doubled by the end of the year to $2.99, giving YZJS a market cap of more than 2½ times its latest reported book value.
Investor interest in Yangzijiang Financial Holding (SGX:YF8
) (YFH) was more subdued. Shares of the investment firm, which was spun off from YZJS in April 2022, rose 28% last year — still highly commendable, and even better than the benchmark Straits Times Index’s 17% gain in 2024. The stock stayed well below YFH’s book value, though, a situation it has been stuck in since its trading debut more than two years ago.
