- Yangzijiang (SGX:BS6) is due to release its FY22 results after market close on 22 Feb 2023. Consensus expects Yangzijiang to deliver ~Rmb1.45bn net profit in 2H22, representing ~25% h-o-h growth.
- - Read this at SGinvestors.io -
Margins set to improve further.
- We expect Yangzijiang's gross margin to bottom out from ~14.6% in 1H22 to 18.6% in 2H22. We believe with the delivery of higher margin orders secured since 2021 and favourable steel cost (expected to hover in the RMB4,000- 5,000/t range) and forex, there is upside risk to our assumption of 20-23% in FY23-24F.
Expect 4-5 cents final dividend per share, translating to 3-4% dividend yield.
- - Read this at SGinvestors.io -
40% of orderbook, based on our estimate.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Pei Hwa HO DBS Group Research | https://www.dbs.com/insightsdirect/ 2023-02-22
Read also DBS's most recent report:
2023-02-24 Yangzijiang Shipbuilding - A Decent FY22; Compelling Growth Ahead.
Price targets by 2 other brokers at Yangzijiang Target Prices.
Listing of research reports at Yangzijiang Analyst Reports.
Relevant links:
Yangzijiang Share Price History,
Yangzijiang Announcements,
Yangzijiang Dividends & Corporate Actions,
Yangzijiang News Articles
