Yangzijiang Maritime shares end 8.5% lower after H1 profit drops
The counter falls 9.3% in early trade, but pares some losses
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[SINGAPORE] Shares of Yangzijiang Maritime fell as much as 9.3 per cent on Wednesday (Aug 12) after the company reported a drop in first-half net profit.
The counter fell to as low as S$0.585 in the first 17 minutes of trading, retreating S$0.06, with about 7.7 million securities changing hands. It pared some losses by midday and finished 8.5 per cent lower at S$0.59.
Yangzijiang Maritime on Tuesday posted a 29 per cent drop in net profit to US$44.9 million for the first half ended Jun 30, down from US$63.5 million in H1 2025. This came despite a 49 per cent year-on-year increase in total income to US$81.6 million.
Earnings were dragged down by higher operating expenses associated with expanding its maritime fund assets and foreign exchange losses.
In a note on Wednesday, DBS said that core performance was “broadly in line”, though net profit was boosted by higher fair-value gains and other income. The company’s balance sheet remaining unleveraged also leaves “ample room for fleet growth”, added the bank.
Six to eight new-build vessels are set to be delivered in the second half of 2026 and about 15 in 2027, which DBS said is set to drive growth.
It reiterated its “buy” call, setting a target price of S$0.88, but said that the earnings were still “under review”.
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