YANGZIJIANG Shipbuilding reported a net profit of 3.6 billion yuan (S$659.3 million) for the second half ended Dec 31, 2024 – 50.5 per cent higher than the 2.4 billion yuan recorded in the corresponding period a year earlier. 

Revenue stood at 13.5 billion yuan, a 5.5 per cent increase from the 12.8 billion yuan recorded in the same period a year before. 

The group recorded an earnings per share of 90.50 fen in the recent H2, up from 60.13 fen previously. 

Yangzijiang Shipbuilding said: “Over the past two years, multiple factors, such as fleet renewal demand, maritime decarbonisation, and rising trade volumes, have driven shipbuilding newbuild orders to record highs.

“In 2024, the industry registered a total order intake of US$204 billion in contract value and 66 million in terms of compensated gross tonnage, reaching the highest in 17 years.”

For the full year, Yangzijiang Shipbuilding reported a net profit of 6.6 billion yuan, a 61.7 per cent increase from 4.1 billion yuan in the 2023 financial year. 

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Revenue stood at 26.5 billion yuan, 10.1 per cent higher than the 24.1 billion recorded in the previous year. 

The group declared a dividend per share of S$0.12, up from S$0.065 per share in 2023. 

Looking ahead, it noted how the United States has proposed levying additional service fees on ships with China exposure in February. Combined with a growing backlog of newbuild orders and extended delivery lead times, these downside risks may impact shipowners’ willingness to place new orders in the near term, added Yangzijiang Shipbuilding. 

The counter closed down 0.7 per cent or S$0.02 at S$2.68.