Yangzijiang Shipbuilding - DBS Research 2022-08-04: Trading At Unwarranted Deep Discount To Peers

YZJ's 1H22 results preview and earnings outlook

• We expect Yangzijiang Shipbuilding (SGX:BS6) to report net profit of at least RMB1.2bn (20% y-o-y increase) for 1H22, on revenue growth. We see room for upside surprise and earnings upgrade post results.
• - Read this at SGinvestors.io -
• Yangzijiang Shipbuilding’s gross margins had fallen from ~25% in 2H220 to 13.5% in 1H21 and 10.8% in 2H21 due to lower newbuild prices and activity level owing to low order flows at the beginning of the COVID pandemic in 2020. The declining trend is set to reverse from 1H22, and we estimate that margins could rebound from ~10% towards mid-teens level.
• - Read this at SGinvestors.io -

Shipbuilding demand remains firm

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-02-28 Yangzijiang Shipbuilding - Unwarranted Sell-off Is A Buying Opportunity.

Previous report by DBS:
2025-01-31 Yangzijiang Shipbuilding - A Promising Dividend-Paying Growth Stock.

Price targets by other brokers at Yangzijiang Target Prices.

Listing of research reports at Yangzijiang Analyst Reports.

Relevant links:
Yangzijiang Share Price History,
Yangzijiang Announcements,
Yangzijiang Dividend Payout Dates & Corporate Actions,
Yangzijiang News