Yangzijiang Shipbuilding (Holdings) booked net profit attributable to shareholders of RMB5.37 billion for the six months ended Jun 30, up 28 per cent year-on-year, as stronger margins from higher-specification containerships and gas carriers lifted earnings despite softer interest income and foreign-exchange losses.

Group revenue rose 36 per cent to RMB17.53 billion, while earnings per share climbed to 136.40 RMB cents from 106.02 RMB cents a year earlier.

Shipbuilding remained the dominant contributor, generating RMB16.51 billion in revenue (+35 per cent YoY) and RMB6.10 billion in pre-tax profit. Shipping revenue grew 14 per cent to RMB585 million, with segment profit more than doubling to RMB470 million on firmer charter rates and a leaner fleet. The “Others” segment – which includes trading, steel pipe fabrication, ship design and property activities – almost quadrupled its turnover to RMB436 million and swung to a RMB41 million profit, aided by the consolidation of Jiangsu Yangzi Chengkang Marine Heavy Industry.

Gross profit margin for shipbuilding improved to 37 per cent from 35 per cent a year ago, reflecting the progressive construction of 24,000 TEU LNG dual-fuel containerships and 100,000 CBM ethane carriers contracted at higher prices. Shipping margin strengthened to 35 per cent (1H 2025: 26 per cent) after the disposal of six older bulk carriers and a containership.

Cost pressures included a 53 per cent slide in interest income to RMB228 million and a net foreign-exchange loss of RMB227 million, offset partly by a RMB234 million gain on vessel disposals. Administrative expenses increased 48 per cent to RMB529 million, mainly on higher R&D spending.

No interim dividend was declared. The company paid a final dividend of SGD 20.0 cents per share (about RMB4.22 billion in total) on 14 May 2026, up from SGD 12.0 cents a year earlier.

Yangzijiang ended June with an orderbook of US$22.4 billion and has secured US$1.96 billion of new contracts year-to-date (including July). Management reiterated its full-year order-win target of US$4.5 billion.

Capital deployment during the half included RMB5.63 billion for a 10 per cent stake in Poseidon Corp, parent of long-standing partner Seaspan, as well as RMB1.20 billion of yard and LNG-terminal capex. Construction of the new Hongyuan yard has started to contribute revenue and is slated for full integration by 2027.

Looking ahead, the group expects shipbuilding demand to stay resilient on fleet renewal and decarbonisation needs, noting record global orderbooks and rising tanker prices amid geopolitical tensions. The shipping division will maintain a balanced chartering strategy, keeping exposure to spot rates while locking in time charters when attractive.