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Latest Forum Topics / YZJ Shipbldg SGD    Last:3.46    -0.12  Post Reply
The Only Shipbuilding Blue Chip in SGX!
Elf2000
Elite
12-Aug-2024 10:22     
 
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 Alert Admin 		Roller coaster
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Login20
Master
10-Aug-2024 13:42     
 
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 Alert Admin 		Usually JP Morgan analyst carried more weight than any analyst. DOYDD.

JP Morgan raises Yangzijiang Shipbuilding&rsquo s TP to $2.80 as it sees it entering a &lsquo sweet spot&rsquo for earnings (theedgesingapore.com)

Panda8      ( Date: 10-Aug-2024 12:42) Posted:

Thank you Boss. 
This month 4 analysts give rating strong buy and another 4 analysts give buy rating. None give hold to sell rating with highest target price of 2.86.   

Winnertakeall      ( Date: 10-Aug-2024 12:00) Posted:

Analysts positive on Yangzijiang Shipbuilding 
CGS, Citi and DBS analysts have all kept their &ldquo buy&rdquo and &ldquo add&rdquo calls, and DBS raised its TP to $2.75.



Analysts are positive on Yangzijiang Shipbuilding after the announcement of a new yard investment of about 1,300 mu, or 866,671 sqm of land in Jiangsu Province on July 15.

The shipbuilding group plans to invest about RMB3 billion ($550 million) in capital expenditures over the next two years to complete this project, with long-term prospects of liquid natural gas and other clean energy vessels in mind.
 
All analysts from three brokerage firms, CGS International, Citi Research and DBS Group Research have kept their &ldquo add&rdquo and &ldquo buy&rdquo calls. CGSI and Citi analysts have kept their target price at $2.50 and $2.45 respectively, while DBS&rsquo s analysts have raised their target price to $2.75.

Lim Siew Khee and Meghana Kande from CGSI say that the new yard could deliver five to six vessels p.a. or US$850 million ($1.14 billion) to US$1 billion in orders. They estimate that the new yard will be about 60% the size of the group&rsquo s existing Jiangsu Yangzi Xinfu yard, which focuses on the construction of mid-to-large-sized vessels.

&ldquo Recall that Yangzijiang had invested RMB650 million for the remaining 20% equity stake in Xinfu yard in 2021, implying a total value of RMB3.25 billion for the entire Xinfu yard,&rdquo they say.

Xinfu yard delivered 12 containerships in 2023, which Lim and Kande estimate to be about US$1.3 billion worth of contracts, and it is also scheduled to deliver 12 vessels in 2025.

They use Xinfu as a benchmark and expect the new yard to deliver five to six vessels of similar size p.a.

&ldquo Assuming US$170 million per vessel (based on year-to-date average prices for 13k TEU newbuild liquified natural gas (LNG) dual fuel containerships), we estimate the new yard could add about US$850 million - US$1 billion in new order wins p.a. This represents about 15-18% of our 2024 order win target of US$5.5 billion,&rdquo they add. TEU stands for twenty-foot equivalent unit.

Lim and Kande&rsquo s target price is still based on a 35% premium to regional yards&rsquo average calendar year (CY) 2024 P/BV of 1.53 times, on improved margin outlook. The analysts&rsquo re-rating catalysts include stronger margins and stronger order wins, and note that key downside risks include a sharp rise in steel costs affecting margins, order cancellations, and unfavourable outcome of the US investigation into the Chinese shipbuilding industry impacting new order wins.

Likewise, Citi analyst Luis Hilado says that Yangzijiang&rsquo s net cash position of RMB11 billion by FY2025 makes the funding of the project appear highly feasible.

While the breakdown of cost between land facilities has yet to be disclosed, he assumes a 30:70 ratio, respectively, and a 10-year average asset life, the additional depreciation charges could amount to RMB 210 million annually or about 3% of our current FY2026 profit forecasts.

&ldquo Albeit an initial profit pressure point, management is likely looking ahead to the long-term project and revenue upside from demand for clean energy ships,&rdquo he says.

Hilado values the company at $2.45, based on a target multiple of 10 times, or 1 standard deviation above its 10-year mean prior to the spin-off of its financial arm, applied to his FY2024 earnings per share forecasts.
 

We believe our target multiple is fair considering Yangzijiang&rsquo s strong medium-term earnings visibility/momentum given its record order book amid the current shipping industry upcycle, and as it now offers investors pure-play shipbuilding exposure as one of the leading shipyards in China,&rdquo he adds.

Finally, DBS analysts add that this new land acquisition will &ldquo lift growth prospects ahead&rdquo . They say that the land&rsquo s proximity to its existing Xinfu yard will enable Yangzijiang to seamlessly integrate the new facilities, thereby enhancing both productivity and operational efficiency.

They estimate it could boost capacity by about 20% and enable the delivery of an additional six ultra-large or high value add vessels, and could raise Yangzijiang&rsquo s annual revenue run-rate from US$3.5 billion to US$4 billion or US$4.5 billion, lifting its growth prospects beyond 2026.

The capex could be fully funded by internal resources, supported by the group&rsquo s strong net cash position of over RMB10 billion net cash as of end 2023, they add.

DBS analysts say that Yangzijiang&rsquo s share price has done &ldquo spectacularly well&rdquo post 1QFY2024 business update at end May, surpassing their target price. &ldquo The share price pulled back from the high of almost $2.50 was due to normalisation following the impact of the Red Sea attack, in our view. We believe there are more legs to the rally in view of the robust order flow amidst a multi-year shipbuilding upcycle, translating to double-digit earnings growth for the next few years boosted by potential capacity expansion,&rdquo they add.

As such, they raise their target price to $2.75, on a higher valuation multiple of 2.3 times P/B, in line with its historical 20% premium to industry average, justifiable by Yangzijiang&rsquo s stronger return on equity and yield as well as financials. This translates to 12 times FY2024 P/E, which is undemanding, they add.

 

 


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Panda8
Veteran
10-Aug-2024 12:42     
 
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 Alert Admin 		Thank you Boss. 
This month 4 analysts give rating strong buy and another 4 analysts give buy rating. None give hold to sell rating with highest target price of 2.86.   

Winnertakeall      ( Date: 10-Aug-2024 12:00) Posted:

Analysts positive on Yangzijiang Shipbuilding 
CGS, Citi and DBS analysts have all kept their &ldquo buy&rdquo and &ldquo add&rdquo calls, and DBS raised its TP to $2.75.



Analysts are positive on Yangzijiang Shipbuilding after the announcement of a new yard investment of about 1,300 mu, or 866,671 sqm of land in Jiangsu Province on July 15.

The shipbuilding group plans to invest about RMB3 billion ($550 million) in capital expenditures over the next two years to complete this project, with long-term prospects of liquid natural gas and other clean energy vessels in mind.
 
All analysts from three brokerage firms, CGS International, Citi Research and DBS Group Research have kept their &ldquo add&rdquo and &ldquo buy&rdquo calls. CGSI and Citi analysts have kept their target price at $2.50 and $2.45 respectively, while DBS&rsquo s analysts have raised their target price to $2.75.

Lim Siew Khee and Meghana Kande from CGSI say that the new yard could deliver five to six vessels p.a. or US$850 million ($1.14 billion) to US$1 billion in orders. They estimate that the new yard will be about 60% the size of the group&rsquo s existing Jiangsu Yangzi Xinfu yard, which focuses on the construction of mid-to-large-sized vessels.

&ldquo Recall that Yangzijiang had invested RMB650 million for the remaining 20% equity stake in Xinfu yard in 2021, implying a total value of RMB3.25 billion for the entire Xinfu yard,&rdquo they say.

Xinfu yard delivered 12 containerships in 2023, which Lim and Kande estimate to be about US$1.3 billion worth of contracts, and it is also scheduled to deliver 12 vessels in 2025.

They use Xinfu as a benchmark and expect the new yard to deliver five to six vessels of similar size p.a.

&ldquo Assuming US$170 million per vessel (based on year-to-date average prices for 13k TEU newbuild liquified natural gas (LNG) dual fuel containerships), we estimate the new yard could add about US$850 million - US$1 billion in new order wins p.a. This represents about 15-18% of our 2024 order win target of US$5.5 billion,&rdquo they add. TEU stands for twenty-foot equivalent unit.

Lim and Kande&rsquo s target price is still based on a 35% premium to regional yards&rsquo average calendar year (CY) 2024 P/BV of 1.53 times, on improved margin outlook. The analysts&rsquo re-rating catalysts include stronger margins and stronger order wins, and note that key downside risks include a sharp rise in steel costs affecting margins, order cancellations, and unfavourable outcome of the US investigation into the Chinese shipbuilding industry impacting new order wins.

Likewise, Citi analyst Luis Hilado says that Yangzijiang&rsquo s net cash position of RMB11 billion by FY2025 makes the funding of the project appear highly feasible.

While the breakdown of cost between land facilities has yet to be disclosed, he assumes a 30:70 ratio, respectively, and a 10-year average asset life, the additional depreciation charges could amount to RMB 210 million annually or about 3% of our current FY2026 profit forecasts.

&ldquo Albeit an initial profit pressure point, management is likely looking ahead to the long-term project and revenue upside from demand for clean energy ships,&rdquo he says.

Hilado values the company at $2.45, based on a target multiple of 10 times, or 1 standard deviation above its 10-year mean prior to the spin-off of its financial arm, applied to his FY2024 earnings per share forecasts.
 

We believe our target multiple is fair considering Yangzijiang&rsquo s strong medium-term earnings visibility/momentum given its record order book amid the current shipping industry upcycle, and as it now offers investors pure-play shipbuilding exposure as one of the leading shipyards in China,&rdquo he adds.

Finally, DBS analysts add that this new land acquisition will &ldquo lift growth prospects ahead&rdquo . They say that the land&rsquo s proximity to its existing Xinfu yard will enable Yangzijiang to seamlessly integrate the new facilities, thereby enhancing both productivity and operational efficiency.

They estimate it could boost capacity by about 20% and enable the delivery of an additional six ultra-large or high value add vessels, and could raise Yangzijiang&rsquo s annual revenue run-rate from US$3.5 billion to US$4 billion or US$4.5 billion, lifting its growth prospects beyond 2026.

The capex could be fully funded by internal resources, supported by the group&rsquo s strong net cash position of over RMB10 billion net cash as of end 2023, they add.

DBS analysts say that Yangzijiang&rsquo s share price has done &ldquo spectacularly well&rdquo post 1QFY2024 business update at end May, surpassing their target price. &ldquo The share price pulled back from the high of almost $2.50 was due to normalisation following the impact of the Red Sea attack, in our view. We believe there are more legs to the rally in view of the robust order flow amidst a multi-year shipbuilding upcycle, translating to double-digit earnings growth for the next few years boosted by potential capacity expansion,&rdquo they add.

As such, they raise their target price to $2.75, on a higher valuation multiple of 2.3 times P/B, in line with its historical 20% premium to industry average, justifiable by Yangzijiang&rsquo s stronger return on equity and yield as well as financials. This translates to 12 times FY2024 P/E, which is undemanding, they add.

 

 

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Winnertakeall
Elite
10-Aug-2024 12:00     
 
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 Alert Admin

Analysts positive on Yangzijiang Shipbuilding 
CGS, Citi and DBS analysts have all kept their &ldquo buy&rdquo and &ldquo add&rdquo calls, and DBS raised its TP to $2.75.



Analysts are positive on Yangzijiang Shipbuilding after the announcement of a new yard investment of about 1,300 mu, or 866,671 sqm of land in Jiangsu Province on July 15.

The shipbuilding group plans to invest about RMB3 billion ($550 million) in capital expenditures over the next two years to complete this project, with long-term prospects of liquid natural gas and other clean energy vessels in mind.
 
All analysts from three brokerage firms, CGS International, Citi Research and DBS Group Research have kept their &ldquo add&rdquo and &ldquo buy&rdquo calls. CGSI and Citi analysts have kept their target price at $2.50 and $2.45 respectively, while DBS&rsquo s analysts have raised their target price to $2.75.

Lim Siew Khee and Meghana Kande from CGSI say that the new yard could deliver five to six vessels p.a. or US$850 million ($1.14 billion) to US$1 billion in orders. They estimate that the new yard will be about 60% the size of the group&rsquo s existing Jiangsu Yangzi Xinfu yard, which focuses on the construction of mid-to-large-sized vessels.

&ldquo Recall that Yangzijiang had invested RMB650 million for the remaining 20% equity stake in Xinfu yard in 2021, implying a total value of RMB3.25 billion for the entire Xinfu yard,&rdquo they say.

Xinfu yard delivered 12 containerships in 2023, which Lim and Kande estimate to be about US$1.3 billion worth of contracts, and it is also scheduled to deliver 12 vessels in 2025.

They use Xinfu as a benchmark and expect the new yard to deliver five to six vessels of similar size p.a.

&ldquo Assuming US$170 million per vessel (based on year-to-date average prices for 13k TEU newbuild liquified natural gas (LNG) dual fuel containerships), we estimate the new yard could add about US$850 million - US$1 billion in new order wins p.a. This represents about 15-18% of our 2024 order win target of US$5.5 billion,&rdquo they add. TEU stands for twenty-foot equivalent unit.

Lim and Kande&rsquo s target price is still based on a 35% premium to regional yards&rsquo average calendar year (CY) 2024 P/BV of 1.53 times, on improved margin outlook. The analysts&rsquo re-rating catalysts include stronger margins and stronger order wins, and note that key downside risks include a sharp rise in steel costs affecting margins, order cancellations, and unfavourable outcome of the US investigation into the Chinese shipbuilding industry impacting new order wins.

Likewise, Citi analyst Luis Hilado says that Yangzijiang&rsquo s net cash position of RMB11 billion by FY2025 makes the funding of the project appear highly feasible.

While the breakdown of cost between land facilities has yet to be disclosed, he assumes a 30:70 ratio, respectively, and a 10-year average asset life, the additional depreciation charges could amount to RMB 210 million annually or about 3% of our current FY2026 profit forecasts.

&ldquo Albeit an initial profit pressure point, management is likely looking ahead to the long-term project and revenue upside from demand for clean energy ships,&rdquo he says.

Hilado values the company at $2.45, based on a target multiple of 10 times, or 1 standard deviation above its 10-year mean prior to the spin-off of its financial arm, applied to his FY2024 earnings per share forecasts.
 

We believe our target multiple is fair considering Yangzijiang&rsquo s strong medium-term earnings visibility/momentum given its record order book amid the current shipping industry upcycle, and as it now offers investors pure-play shipbuilding exposure as one of the leading shipyards in China,&rdquo he adds.

Finally, DBS analysts add that this new land acquisition will &ldquo lift growth prospects ahead&rdquo . They say that the land&rsquo s proximity to its existing Xinfu yard will enable Yangzijiang to seamlessly integrate the new facilities, thereby enhancing both productivity and operational efficiency.

They estimate it could boost capacity by about 20% and enable the delivery of an additional six ultra-large or high value add vessels, and could raise Yangzijiang&rsquo s annual revenue run-rate from US$3.5 billion to US$4 billion or US$4.5 billion, lifting its growth prospects beyond 2026.

The capex could be fully funded by internal resources, supported by the group&rsquo s strong net cash position of over RMB10 billion net cash as of end 2023, they add.

DBS analysts say that Yangzijiang&rsquo s share price has done &ldquo spectacularly well&rdquo post 1QFY2024 business update at end May, surpassing their target price. &ldquo The share price pulled back from the high of almost $2.50 was due to normalisation following the impact of the Red Sea attack, in our view. We believe there are more legs to the rally in view of the robust order flow amidst a multi-year shipbuilding upcycle, translating to double-digit earnings growth for the next few years boosted by potential capacity expansion,&rdquo they add.

As such, they raise their target price to $2.75, on a higher valuation multiple of 2.3 times P/B, in line with its historical 20% premium to industry average, justifiable by Yangzijiang&rsquo s stronger return on equity and yield as well as financials. This translates to 12 times FY2024 P/E, which is undemanding, they add.

 

 
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Panda8
Veteran
08-Aug-2024 11:54     
 
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 Alert Admin 		want to buy now still can buy, monday onward will rocket up to all time high..... 
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pkli899
Supreme
08-Aug-2024 09:36     
 
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 Alert Admin 		Needless to say, results surely very good.
Now is whether they are generous enough to give a special interim dividend.     
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De4242
Member
08-Aug-2024 09:25     
 
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 Alert Admin 		Expect YZJ Shipbldg to soar again from today...
 
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Login20
Master
07-Aug-2024 19:51     
 
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 Alert Admin 		I read on the recent analysts reports and the informations here, YZJSB seem promising and is good with 1H24 result if in order. 

Hope for the best.

pkli899      ( Date: 07-Aug-2024 18:43) Posted:

Over this weekend also possible.
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pkli899
Supreme
07-Aug-2024 18:43     
 
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 Alert Admin 		Over this weekend also possible.
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s100125
Elite
07-Aug-2024 14:31     
 
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 Alert Admin 		Normally in early Aug , so should be somewhere around the corner.

s100125      ( Date: 07-Aug-2024 14:26) Posted:

When is the half yearly earning exact date?
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s100125
Elite
07-Aug-2024 14:26     
 
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 Alert Admin 		When is the half yearly earning exact date?
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SgYuan
Supreme
06-Aug-2024 16:13     
 
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 Alert Admin 		SGX Penny Stocks (EW Charts by sgYuan):
yzj 1h
w4 dn 38.2 257 breakdn
px breakdn 2 lower trendline hit 224

yzj 1h
px hit 224 double bot amd uturn

wa up 61.8 256 hit 240
dn 61.8 230 must not breakdn
then wa up continues
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emailpeter
Veteran
06-Aug-2024 15:07     
 
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 Alert Admin 		Putting this peg. Just for fun..... :)

$2.32 : $32.50 : $0.325

Those who know will know....cheers
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seekanasai3
Member
06-Aug-2024 13:54     
 
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 Alert Admin 		master yuan any update ? thanks

SgYuan      ( Date: 01-Aug-2024 18:12) Posted:

SGX Penny Stocks (EW Charts by sgYuan):
yzj 1h
w4 253 hit 256
w5 up 276 hit 275

SgYuan:
yzj 1h
rechart
w3 hit 275
w4 dn 38.2 257 hit 265
if this hold w5 up 61.8
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seekanasai3
Member
06-Aug-2024 13:52     
 
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 Alert Admin 		sure will price 2.26 if buy
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s100125
Elite
06-Aug-2024 13:09     
 
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 Alert Admin 		About time for this Ah Yang to moves up again
 
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SgYuan
Supreme
01-Aug-2024 18:12     
 
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 Alert Admin 		SGX Penny Stocks (EW Charts by sgYuan):
yzj 1h
w4 253 hit 256
w5 up 276 hit 275

SgYuan:
yzj 1h
rechart
w3 hit 275
w4 dn 38.2 257 hit 265
if this hold w5 up 61.8
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Winnertakeall
Elite
01-Aug-2024 17:42     
 
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 Alert Admin

Hapag-Lloyd floats enquiry for up to 30 LNG dual-fuelled container ships

Company expected to stick with its fuel of choice as it checks out yards for next mega-batch of boxships  German liner owner and operator Hapag-Lloyd
has joined the crush of owners at shipyards looking to book space for container ship newbuildings, with a large enquiry for up to 30 vessels, which could
be worth an estimated $5.4B

Let hope YZJ Shipbuilding can win some of the contracts 
 
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emailpeter
Veteran
01-Aug-2024 16:20     
 
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 Alert Admin 		Yes thanks @pkli. In the absence of their " boardroom whiteboard" of fulfilment timeline, we can guess off the analyst reports. Quite a few extensive ones here, but added now with international names like JP Morgan and more. Everyone here doing they great part updating upon results in 13 days time.

Even 1H might not give full answer or effect. Need await FY. Thats why this stock requires patience in storing LT. And we need assess results for YZJFH too, hoping for some good news. Cheers to all here....

pkli899      ( Date: 30-Jul-2024 16:58) Posted:

I like what you wrote, emailpeter.
Unfortunately, it is difficult to get the resources to compile.
Their announcement do not give detail of delivery dates.
Usually only a range, eg, " from end 2028 to early 2029" .
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SAVIORFOREVER
Supreme
31-Jul-2024 09:58     
 
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 Alert Admin 		Congrats! Really envy.


Trade with longs and DYODD
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