Yangzijiang's gross margin rose to 24% in Q4

In 2020, Yangzijiang Shipbuilding received orders of US$1.82 billion, exceeding nearly US$1 billion in 2019. The net profit in the fourth quarter exceeded 750 million yuan, and the gross profit margin increased significantly to 24%.
 
In the fourth quarter of 2020, the group's total revenue declined 38% year-on-year to 3 billion yuan.
 
In the fourth quarter, the gross margin of Yangzijiang's shipbuilding business was 24%, up from 12% in the fourth quarter of 2019, mainly due to the construction of more higher-margin container ships in the fourth quarter of last year.
 
The company's net profit attributable to shareholders for the fourth quarter of 2020 was 753.5 million yuan, up 17% from 642.3 million yuan in the same period in 2019.
 
Financial results show that in 2020 fiscal year, the total revenue of Yangzijiang Shipbuilding is about 14.84 billion yuan, down 37% year on year.
 
In 2020, Yangzijiang Shipbuilding secured 54 new ship orders worth US $1.82 billion, far exceeding the US $830 million received for the whole of 2019. As of December 31, 2020, Yangzijiang Shipbuilding has orders of 83 ships worth 3.09 billion US dollars.
 
These orders will provide the Group with a stable source of revenue and ensure stable production for at least the next 1.5 years.
 
Source: Sarah Yu, XINDE MARINE NEWS

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