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    BS6   SG1U76934819

YANGZIJIANG SHIPBUILDING (HOLDINGS) LTD.

(BS6)
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Yangzijiang Shipbuilding Ltd. Inks New Orders for 12+5 Vessels Worth USD 1.58 Billion in July

07/30/2021 | 06:52am EDT

Yangzijiang Shipbuilding (Holdings) Ltd. announced that it has recently secured agreements for the building and delivery of ten (10) units of dual-fuel 7,000TEU containerships and two (2) units of 50,000DWT MR tankers for a total contract value of USD 1.08 billion in July, after it recently announced largest order wins and record-high outstanding orderbook in June. In addition, the Group also signed a letter of intent (`LOI') for another five (5) units of dual-fuel 7,000TEU containerships in July and is expected to turn effective in August 2021. Orders for fifteen (15) units of dual-fuel 7,000TEU containerships (including the abovementioned 5 units) were placed by Seaspan Corporation (`Seaspan'), Yangzijiang's repeat customer and will be progressively delivered between 2023 to 2024. The dual-fuel containerships will be fitted with Type `B' LNG Fuel Tank, and Yangzijiang had participated in the design of the LNG fuel storage, supply system and LNG tanks as part of its research and development (`R&D') efforts. These orders being first-of-its- kind, marks a huge accomplishment for Yangzijiang and is a clear representation of the shipowner's recognition in the capabilities and technology towards the LNG tanks jointly designed by the Group. Yangzijiang's clinching of the orders for these dual-fuel containerships also signified the end of a monopoly for LNG dual-fuel engine vessels previously dominated largely by the Korean shipyards. This has allowed the Group to further strengthen its foothold in the LNG market and will lay out a strong foundation for further growth and expansion.


ę S&P Capital IQ 2021
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Financials
Sales 2021 21 119 M 3 309 M 3 309 M
Net income 2021 3 054 M 478 M 478 M
Net cash 2021 1 260 M 197 M 197 M
P/E ratio 2021 8,40x
Yield 2021 3,65%
Capitalization 25 998 M 4 069 M 4 074 M
EV / Sales 2021 1,17x
EV / Sales 2022 0,83x
Nbr of Employees 21 000
Free-Float 60,7%
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Mean consensus BUY
Number of Analysts 7
Last Close Price 6,58 CNY
Average target price 8,70 CNY
Spread / Average Target 32,2%
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Managers and Directors
Le Tian Ren Executive Chairman & Chief Executive Officer
Yi-Dar Teo Lead Independent Director
Teck Leng Chen Independent Director
Teow Heng Toe Independent Non-Executive Director
Wen Jiong Xu Non-Independent Non-Executive Director