YZJ Maritime    Last:0.615    +0.005

YZJ Maritime

10:30 PM EST, 03/01/2026 (MT Newswires) -- Yangzijiang Maritime Development's (SGX:8YZ) profit attributable to equity holders declined 5% in 2025 to $129.7 million from $135.9 million a year earlier, according to a Friday filing with the Singapore Exchange.

Shares of the maritime investment manager were down over 3% in Monday late-morning trade.

Earnings per share dropped to $0.0373 compared with $0.039 in the year-ago period.

Total income declined 4% year over year to $142.4 million from $148.5 million, mainly due to lower interest income and lower net fair value gains.

The company declared a final dividend of SG$0.05 per share for the period.

 

Singapore, 28 February 2026 &ndash Yangzijiang Maritime Development Ltd (&ldquo Yangzijiang Maritime&rdquo or the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ) is a one-stop maritime financial solutions provider. SAC Capital Private Limited is the issue manager for the listing of Yangzijiang Maritime Development Ltd on the Main Board of the Singapore Securities Exchange Trading Limited by way of an introduction.
Commenting on the results for FY2025, Executive Chairman and Chief Executive Officer of Yangzijiang Maritime, Mr. Ren Yuanlin said, &ldquo Reflecting the strength and sustainability of our business model within the maritime industry, we are pleased to report a resilient set of results in our inaugural full-year announcement since our listing in November 2025. Our asset-light strategy, underpinned by deep maritime expertise and strategic partnerships, enables us to optimise construction costs without compromising on quality, safety, or technological standards. Coupled with disciplined capital management, this approach allows us to remain agile amid evolving market conditions in the maritime industry while delivering consistent performance. Our strong balance sheet also provides a solid foundation to pursue growth opportunities prudently and navigate industry cycles. With our differentiated financial solutions platform and disciplined strategy, we are well-positioned to deliver long-term value to our shareholders ahead.&rdquo
Mr. Ren added, &ldquo We remain committed to delivering attractive returns to our shareholders. With a robust balance sheet and disciplined financial management, we are well-positioned to provide sustainable dividends and undertake share buybacks that reflects our confidence in ongoing growth and our dedication to rewarding shareholders.&rdquo
Financial Highlights of FY2025
Total income remained relatively stable at US$142.4 million in FY2025 compared to US$148.5 million in FY2024. The principal business of the Group comprises three segments: Maritime Business, Cash Management and Other Non-Maritime Investments.
Under the Maritime Business, the Group undertakes maritime investments, maritime financing and other maritime services. Income from the Maritime Business increased by 61.2% or US$26.5 million to US$69.9 million in FY2025 compared to US$43.3 million in FY2024, driven mainly by higher income from maritime fund assets, reflecting the expanded base of the maritime fund asset portfolio.
Under Cash Management, which serves as the Group&rsquo s treasury and cash management function, income decreased by 55.9% or US$42.4 million to US$33.5 million in FY2025 compared to US$75.9 million in FY2024. This was mainly due to lower interest earned from reduced treasury cash balances as surplus funds were progressively deployed into the maritime business and investment portfolio, as well as the lower interest yield environment during FY2025.
Under Other Non-Maritime Investments, the Group undertakes non-maritime investment activities. Income from Other Non-Maritime Investments increased by 33.6% or US$9.8 million to US$39.0 million in FY2025 compared to US$29.2 million in FY2024, mainly due to higher interest income.
Expansion of maritime fund assets and one-time listing expenses led to higher total expenses in FY2025. Corresponding to an expanded maritime asset base, the Group&rsquo s operating costs of maritime fund assets increased to US$27.6 million in FY2025 compared to US$19.9 million in FY2024, comprising higher operating costs and higher depreciation of vessels. Other expenses increased to US$6.0 million in FY2025 compared to US$3.1 million in FY2024, primarily due to the one-time listing-related fees of US$1.8 million incurred in FY2025 and higher professional and legal fees. Employee compensation increased moderately to US$2.6 million in FY2025 compared to US$2.2 million in FY2024.
As a result, the Group&rsquo s total expenses increased by 44% or US$11.1 million to US$36.2 million in FY2025 compared to US$25.1 million in FY2024.
Despite higher operating expenses to expand maritime fund assets and one-time listing expenses, the Group&rsquo s share of profits of joint ventures, net of tax, surged to US$18.0 million in FY2025 compared to US$1.1 million in FY2024, mainly due to a gain of US$13.7 million on the sale of vessels under the Group&rsquo s maritime joint venture investments. Net profit attributable to equity holders remained resilient at US$129.7 million in FY2025 compared to US$135.9 million in FY2024.
Balance Sheet Highlights of FY2025
As at 31 December 2025, total assets were US$1,817.6 million compared to US$1,779.7 million as at 31 December 2024, an increase of 2%. Current assets were US$769.2 million compared to US$1,106.8 million in the prior year, and non-current assets were US$1,048.4 million compared to US$672.8 million. Total liabilities were US$56.9 million compared to US$38.2 million. Net assets attributable to equity holders were US$1,625.0 million compared to US$1,625.2 million, with net asset value per share of 46.57 US cents compared to 46.70 US cents.
The balance sheet reflects the strategic deployment of cash into maritime-related assets and longer-tenor investments, supported by a healthy cash and cash equivalents position of US$400.4 million as at 31 December 2025.
Outlook
The maritime industry is an indispensable cornerstone of global economic development, serving as the lifeblood of international trade, commerce and connectivity. Since its initial public offering in November 2025, the Group has steadily advanced its business plans, augmenting its position as a maritime-focused investment and solutions platform, leveraging Singapore&rsquo s status as a global maritime hub.
In January 2026, it was announced that the Group and co-investors have placed newbuilding orders with three Chinese shipyards for a total of 16 vessels, including options. With the addition of these newbuilding orders, the Group&rsquo s newbuilding portfolio will increase significantly to a total of 50 vessels, including options.
Looking ahead, the Group aims to capitalise on the macro opportunities brought on by structural shifts within the maritime industry, which are driven by tighter capital conditions in Western capital markets and accelerating decarbonisation requirements by the International Maritime Organization.

 

 

nothing wrong with investing in company that you spin off from.
example ping an spin off from hsbc. now ping an is a very large share holders of hsbc.
ping an benefits from that ownership as hsbc is doing very ok.

i believe yzjfh is a good company and facing 1x problem from history.
 

 

besides share buy back. used some of money to invest
in yzjfh. that company nta 50 cents, has lots of cash. short term she will face
non believer and shortist to dump down. right value shoule be 0.8x nta.
so short term when shorts cover, sell back to them for a quick profit.
no wrong doing this as yzjfh is under value and has lots of cash. it will help to get the
cash for leverage IRR later.    yzjfh is yzjm mother. although no relationship now. many
share holders of yzjm and yzjfh are same same.
just my opinion only.

 

Does not make a difference 😂

YZJ SB is the biggest winner after unloading the burden (YZJ FH and Maritime). Should re-position and invest in YZJ SB if got opportunity

 

📊 Strong FY2025 Financial Results

Key highlights from YZJ Maritime FY2025 results:

• Net Profit: The company generated a net profit of approximately US$129.7 million for FY2025, a strong outcome especially in a challenging market.    
• Dividend Proposal: Reflecting this strong performance, the board has proposed a dividend of 0.5 Singapore cents per share.  

 

Read deeper into the background of YMD FY25 npat preparation basis.

--xxxxxx--

Refer to pg 13 of YMD ppt presentation :-

There was a distribution of usd93.8m being the pre spin off FY25 npat to YFH, so while YMD still reported its FY25 npat at usd129.7 (after MI), it only got to retain the npat usd35.9m that was registered post spin off after the 10 Nov ex-date.

So Yes, it is reasonable for RenYL to pay out YMD maiden dividend based on usd35.9m since the pre spin off portion of usd93.8m had already been distributed back to YFH.

The estimated dividend based on RenYL 40% payout commitment is = [ usd35.9m x 1.26 (exchg) x 0.4 ] / 3481 (O/S) = 0.0052 or nearest $0.005.

--xxxxx--

YMD has put up a very comprehensive and impressive ppt detailing :-

(1) its Income and Npat breakdown,
(2)  its Shipbuilding/ Shipping/ Financing business model, and the business background, logic and strategies behind them to make money
(3) its net cash and unleveraged Bal Sht targeting a minimum 10~15% IRR on projects
(4) its receptiveness to take on leverage (bank borrowings, convertable notes, asset backed loans) to seek accelerated returns of much higher 20~30% IRR projects. I believe most investors will love this openess for YMD to take up some degree of tolerable leverage to greatly expand the profit making potential.
(5) the positive outlook in the golbal maritime industry and YMD strengths to capture them
(6) SBB to enhance shareholders value

I have a feeling that analyst(s) will initiate coverage on YMD soon.
 

volvo125      ( Date: 01-Mar-2026 00:50) Posted: Ymd reported its npat us$136m as full year in retrospective back to 1 Jan 2025, not carved out from Yfh book from 10 Nov 2025, which is only a fraction of the entire us136m, which is ~us33m if I use $0.005 to work backward @exchg 1.3, o/s3489m, 40% payout ratio. I can understand Ymd will pay $0.005 if the coy were to report its result in post spin off format at npat us33m. But I cannot why Ymd will report a full year 12 month carved out npat yet only pays dividend from the post spin off 10 Nov ex date ... I think shareholders need to raise this question during the AGM. Eh, no ... during the EGM because it comes first.

 

Shortists could have already bought back some if not all with prices rising from $0.57 to $0.625. However, wider market will face headwind with full scale Middle East crsis taking place now. I think YZJM should do well in the long run so price weakness may represent opportunities. It seems that YZJM can' t based on eps of $0.047 to pay 40% dividend based on their explanation that those profits were ' repatriated' to its then parent company i.e. YZJF. In providing the full FY25 figure based on its maritime assets including pre spin off, it is demonstrating the earning power of its maritime assets. In long run I think YZJM could regain $0.72 and beyond. 

pasttime      ( Date: 01-Mar-2026 15:12) Posted: they only want to pay dividend base on after spin off results. although unsusal also ok since this  is a growth stock. and probably 1x only. it should get a different group of investors who are looking out for grow more then dividend. money not pay out as dividend means more retain for growing business. hope after approval he goes more aggressive on buy back as the shorts reported on 20 feb week has grow to 49504619. dividend or share price go up is the same.

 

they only want to pay dividend base on after spin off results. although unsusal also ok since this 
is a growth stock. and probably 1x only. it should get a different group of investors who are looking
out for grow more then dividend. money not pay out as dividend means more retain for growing business.
hope after approval he goes more aggressive on buy back as the shorts reported on 20 feb week has grow to 49504619. dividend or share price go up is the same.

 

Not worth holding if they are treating investors so shabbily.

 

Haiz .... EGM cannot, the 26 feb deadline to register already closed. Hopefully those shareholders going to the egm will go rant the issue .... else can only do so in the late Apr agm ...

 

Ymd reported its npat us$136m as full year in retrospective back to 1 Jan 2025, not carved out from Yfh book from 10 Nov 2025, which is only a fraction of the entire us136m, which is ~us33m if I use $0.005 to work backward @exchg 1.3, o/s3489m, 40% payout ratio. I can understand Ymd will pay $0.005 if the coy were to report its result in post spin off format at npat us33m. But I cannot why Ymd will report a full year 12 month carved out npat yet only pays dividend from the post spin off 10 Nov ex date ... I think shareholders need to raise this question during the AGM. Eh, no ... during the EGM because it comes first.

 

First time come across dividend pro rated ... what the xxxx. The ex date was 10 Nov 2025, so likely the 40% payout count from 10 nov 2025 ... like that also can ...

HVRRVH      ( Date: 28-Feb-2026 23:01) Posted: Full year eps of SGD$0.047 but dividend only $0.005, citing payout primary consideration is based on post spoin off earnings. So about 1 month and 12 days give earn shareholder dividend of $0.005? Next year dividend maybe 11*$0.005 = $0.055? Let' s wait and see. I have not much to talk about YZJM, I think it is still positive. Same can' t be said of YZJF.

 

Yangzijiang Maritime Delivers  Resilient Performance with
Net Profit of US$129.7 Million in FY2025 and  Net Assets of US$1.6 Billion

@ Resilient performance in FY2025 highlights the strengths of the Group&rsquo s asset light  business model as a maritime financial solutions provider, underpinned by its deep  expertise and extensive experience in the maritime industry.

@ Robust balance sheet with net assets attributable to equity holders of approximately  US$1.6 billion (S$2.0 billion) and net assets value per share attributable to equity  holders of 46.57 US$ cents (59.01 S$ cents) as at 31 December 2025.

@ Demonstrating its dedication to rewarding shareholders, the Company has proposed  a dividend of S$0.005 per share for FY2025.

@ In addition, the Company is convening an EGM on 6 March 2026 for shareholders to  approve a share buyback mandate as part of its broader capital management toolkit.

@  Supported by a positive outlook, the Group is progressing steadily on its strategic  roadmap, enhancing its standing as a maritime-focused investment and solutions  platform.

 

Full year eps of SGD$0.047 but dividend only $0.005, citing payout primary consideration is based on post spoin off earnings. So about 1 month and 12 days give earn shareholder dividend of $0.005? Next year dividend maybe 11*$0.005 = $0.055? Let' s wait and see. I have not much to talk about YZJM, I think it is still positive. Same can' t be said of YZJF. 

 

The dividend level was determined with reference to the Group' s post-spin-off earnings. Walao eh, like that also can ah? Hopefully the share price performance will make up for my dividend loss.

 

https://links.sgx.com/1.0.0/corporate-announcements/D41JN1LFL2CMESXF/876934_YZJ%20Maritime_FY2025_PR_20260227_2pm.pdf

 

fully greed with your perception.expecting good results in the coming
days of it maiden reporting.

volvo125      ( Date: 26-Feb-2026 19:39) Posted: Refer to pg 13 of 1H25 ppt : YMD has listed 75 vessels as at 31Jun2025 Refer to 14 Jan 2026 SGX announcement : YMD added 16 new vessels. With the addition of these newbuilding orders, the Group&rsquo s newbuilding portfolio will increase significantly to a total of 50 vessels (including options) as follows: So before the addition of 16 new vessels, YMD should have 50 minus 16 = 34 vessels. So between 1H25 to 14 Jan 2026, YMD had likely sold off 75 minus 34 = 41 vessels during the 2H25. I therefore expect the result of YMD in 2H25 to be very good as compared to 1H25.

 

I bot at 61c at 2pm which is the high and when I checked at 3.30pm it has gone up to 62.5c. Hmm... looks like something good is coming.

Eyk3000      ( Date: 27-Feb-2026 14:40) Posted: Today' s stock price has made me really curious about the results.I can' t wait to see them tonight or tomorrow. Huat ah!