On April 5, Yangzijiang Shipbuilding released its 2020 annual financial report and related documents.
In 2020, the net profit of Yangzijiang Group is 2.6 billion yuan, and the net profit attributable to shareholders is 2.5 billion yuan. The main business of shipbuilding achieved an operating income of 10 billion yuan.
In 2020, construction progress slowed due to the COVID-19 outbreak, but 45 ships were still delivered on schedule, most of which were medium and large container ships and dry bulk carriers. These include three 12690TEU container ships, which are the largest container ships currently built and delivered by Yangzijiang.
In 2020, the Group built and delivered a relatively large number of container ships with high profit margins. Combined with the resale of 157,000 DWT tankers, the gross profit margin of the shipbuilding business increased by 6% year-on-year to 21%, and the gross profit of the shipbuilding business reached 2.1 billion yuan.
In terms of new orders, 54 ships worth US $1.8 billion were ordered in 2020. As of December 31, 2020, the Group has orders in hand for 83 ships valued at US $3.09 billion.
Since 2021, Yangzijiang Shipbuilding has obtained 60 new ship orders, with a total value of about US $3 billion, which is the largest new ship order volume in the past decade. A large part of the new orders are container ships, including 43 orders worth US $2.6 billion, which are expected to maintain the group's profit margin and ensure the production tasks in the next two years.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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