Yangzijiang Shipbuilding (Holdings) Ltd. reported strong financial and operational results for the first half of 2025.
The company recorded revenue of RMB12.9 billion, with a gross margin of 34.5%, up from 25.2% in FY2024.
Net profit attributable to equity holders (PATMI) was RMB4.2 billion, representing a 36.7% increase year-on-year.
The return on equity (ROE) rose by 7.8 percentage points year-on-year to 30.1% on an annualized basis.
The company delivered 23 vessels in 1H2025 and an additional 6 in July, bringing the year-to-date total to 29 out of a targeted 56 for FY2025. It remains on track to meet the full-year delivery goal.
The 1H2025 order win was valued at USD0.54 billion, with an additional USD0.2 billion secured in July.
The outstanding orderbook stood at USD23.2 billion as of June 30, 2025, with clean-energy vessels accounting for approximately 74% of the total value.
Yangzijiang Shipbuilding's core shipbuilding segment reported revenue of RMB19.9 billion and gross profit of RMB7.0 billion, driven by reduced steel costs, improved pricing, and timely delivery of large dual-fuel containerships.
The containership segment contributed the most to revenue.
As of June 30, 2025, the Group operated a fleet of 33 vessels with an average age of 8 years. The company reported a net cash position of RMB18.3 billion, with total borrowings reduced from RMB6.8 billion at year-end 2024 to RMB6.05 billion at mid-2025. Its subsidiary, YAMIC, which focuses on clean-energy vessels, contributed significantly to profitability, with gas carriers accounting for around 51% of its orderbook value.
Yangzijiang Shipbuilding is also progressing with the construction of the Hongyuan LNG terminal and LNG storage facilities. Total capital expenditure for the expansion project is approximately RMB5.0 billion, with completion targeted between end-2026 and 1H2027.
Yangzijiang Shipbuilding (Holdings) Ltd. is a company incorporated in Singapore and listed on the Singapore Exchange. It is engaged in the construction of commercial vessels and operates shipyards primarily in China. The Group's core business includes shipbuilding, shipping logistics, and offshore engineering. Yangzijiang serves global customers and focuses on building containerships, oil tankers, bulk carriers, and clean-energy vessels.
YAMIC (Yangzijiang Advanced Marine Innovation Center) is a subsidiary of Yangzijiang Shipbuilding, established in 2019. It operates as a specialized shipyard focused on the construction of clean-energy marine vessels, including gas carriers such as LPG, LEG, VLAC, and VLEC. In 2024, YAMIC repositioned its strategy toward building higher-end gas carriers aimed at enhancing profitability.