Yangzijiang Shipbuilding - UOB Kay Hian 2025-11-19: Heading Into 2026 In A Position Of Strength

• Our positive view on Yangzijiang Shipbuilding (SGX:BS6) has not changed after its 3Q25 business update and subsequent analyst briefing.

Positive order win momentum.

• - Read this at SGinvestors.io -
• Importantly, Yangzijiang appeared to be confident of securing about US$4.5b in new orders for 2026, supported by continued demand for containerships and opportunistic drybulk orders amid trough valuations.

Margin outlook for 2026.

• - Read this at SGinvestors.io -
• With its new Hongyuan yard starting in end-26, margins may soften as the company integrates this new asset into its operations; however, management appeared confident that it will be able to generate robust margins after the integration.

The TACO1 trade as expected.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2026-05-21 Yangzijiang Shipbuilding - On Track Across Orders, Deliveries, and Dividends.

Previous report by UOB:
2026-04-06 Yangzijiang Shipbuilding - Vertical Integration Drives Visibility, Stability And Growth.

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 Dividend Payout Dates & Corporate Actions,
Yangzijiang News