- Yangzijiang Shipbuilding (YZJ)’s business update revealed that only US$0.29b of new orders had been won in 1Q25, or 5.0% of its 2025 target of US$6b.
Storms have passed but new order wins are needed to restore confidence.
- - Read this at SGinvestors.io -
Bearish tone from management...
- During the analyst briefing, Yangzijiang CFO’s tone was decidedly bearish given his caution that new order wins may not substantially increase from 1Q25 levels, which we believe was the cause of the 5.0% decline of Yangzijiang's share price on Fri 23 May.
…but given that its yard is full until end-27, investors should focus on earnings and ship deliveries.
- - Read this at SGinvestors.io -
- During the call, Yangzijiang disclosed that it has only a few slots available for small-to medium-sized vessels in 2028, and very limited slots for large vessels in 2029.
Shipbuilding margins for 2025 remain solid for now.
- Read more at SGinvestors.io.
