Yangzijiang received 43.2 billion orders in H1

The net profit exceeded 1.6 billion yuan and the average monthly profit was nearly 300 million yuan. The newly signed 112 ships were US$6.67 billion (approximately 43.2 billion yuan). In the first half of this year, Yangzijiang Shipbuilding Group, China's largest private shipbuilding company, delivered a "dream" report.
 
On August 5, Yangzijiang Shipbuilding Group released its financial report for the first half of 2021. According to the announcement, in the first half of 2021, the group's total revenue fell 20% year-on-year to 6.6 billion yuan. Among them, the core shipbuilding business revenue was 4.78 billion yuan, lower than the 5.29 billion yuan in the same period last year. The decrease in revenue was because the group's delivery volume in the first half of this year was lower than last year, from 28 to 23.
 
Due to the expansion of the fleet and the increase in chartering rates, revenue from other ship-related businesses such as shipping logistics & chartering, ship design services and shipbreaking increased to 596.3 million yuan, up from 325.1 million yuan in the same period last year.
 
In the first half of the year, the gross profit margin of Yangzijiang Shipbuilding Group reached 26%, which was higher than 24% in the same period last year. The gross profit of the group was 1.69 billion yuan, down 15% year-on-year. The gross profit margin of the shipbuilding business was 14%, a decrease of 16% in the same period last year, mainly due to the increase in raw material costs and the appreciation of the RMB against the US dollar.

The net profit attributable to shareholders of Yangzijiang Shipbuilding in the first half of 2021 was 1.64 billion yuan, an increase of 39% compared with 1.18 billion yuan in the same period in 2020. As of June 30, 2021, Yangzijiang Shipbuilding has maintained a strong financial position, and its net asset value per share has increased from 8.40 yuan at the end of 2020 to 8.61 yuan.
 
As of the announcement date, Yangzijiang has received 112 new ship orders this year, with a total value of US$6.67 billion, and hand-held orders for 167 ships amounted to US$8.65 billion. Both new orders and hand-held orders have reached a record high.
 
Source: Sarah Yu, XINDE MARINE NEWS

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