On February 27, Yangzijiang Shipbuilding (Holdings) Limited, a globally leading shipbuilding group based in China, and a Straits Times Index component company listed on the SGX Main Board, announced its financial results for 2023.
The announcement shows the following key financial performance indicators for FY2023:
In FY2023, Yangzijiang Shipbuilding Group focused on the main business of shipbuilding. Total revenue of Yangzijiang Shipbuilding Group increased by 16.5% YOY to RMB24.1 billion ( approx. US$3.35 billion) in FY2023. Gross profit increased by 69.2% YoY from FY2022 to RMB5.4 billion ( approx. US$750 million) and net profit was RMB4.1 billion (approx. US$570 million).
In 2023, with the trend of global shipping industry continuing to transform to clean energy, Yangzijiang Shipbuilding took advantage of the trend and received orders for 97 new ships worth US$7.05 billion by consolidating the position of advantageous ship types and grasping the opportunities of market segments rotation.
In 2023, the three major shipbuilding bases of Yangzijiang Shipbuilding Group fully accomplished the task of new shipbuildings, and delivered 57 new ships in the year.
By the end of 2023, the number and contract value of Yangzijiang Shipbuilding Group’s hand-held orders have increased significantly compared to the same period last year, reaching 182 ships/value of US$14.5 billion, with clean energy ships accounting for about 58% of the total orders.