Strong performance and increased order-win target drive stock gains
- Yangzijiang Shipbuilding shares rise 3.0% on profit beat and raised guidance
- Net profit in H2 2023 rose 65% to 2.36 billion yuan
- Revenue increased 17% to CNY12.79 billion
- Expectations of high demand due to climate-related regulatory push
- Secured 97 new orders worth US$7.1 billion in 2023
- Raised 2024 order-win target to US$4.5 billion
- DBS analysts expect continued business momentum and earnings growth
- DBS reiterates buy rating on the stock
Shares of Yangzijiang Shipbuilding rose 3.0% after reporting a 65% increase in net profit for H2 2023. The company also raised its 2024 order-win target to US$4.5 billion, citing a robust orderbook value and steady earnings visibility. Revenue increased by 17% due to the core shipbuilding segment’s progressive construction of larger vessels. Yangzijiang expects high demand driven by climate-related regulatory push and stricter policies. In 2023, the company secured 97 new orders worth US$7.1 billion, with over half for alternative-fuel vessels. DBS analysts expect continued business momentum and earnings growth, reiterating a buy rating on the stock.
Factuality Level: 8
Factuality Justification: The article provides specific details about Yangzijiang Shipbuilding’s financial performance, new order wins, and analyst assessments. The information is presented in a straightforward manner without digressions or unnecessary background information. There is no apparent bias or opinion masquerading as fact, and the article does not contain misleading information or logical errors.
Noise Level: 3
Noise Justification: The article provides relevant information about Yangzijiang Shipbuilding’s financial performance, new order wins, and market outlook. It includes specific details such as profit figures, revenue growth, order values, and analyst opinions. The article stays on topic and does not contain irrelevant or misleading information. It supports its claims with data and examples, making it a relatively low noise article.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Yangzijiang Shipbuilding
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the financial performance and outlook of Yangzijiang Shipbuilding, a Chinese shipbuilder. It provides information on the company’s higher profit and sales, raised guidance for new order wins, and positive market sentiment reflected in the rise of its shares. There is no mention of any extreme events or their impact in the article.
Public Companies: Yangzijiang Shipbuilding (YZJSGD.SI)
Key People: DBS analysts (Analysts)
Reported publicly:
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