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the management must let the process takes its course after spin-off which is good for investors. doing sbb now would send the wrong signal.
imho
Let' s see any SBB today.
besides share buy back. used some of money allocated to invest in listed company to invest
in yzjm. that company has IRR of 10-15% and if leverage 20-30%. short term she will face
non believer and shortist to dump down. right value shoule be 1.1-3x nta depends on the irr.
so short term when shorts cover, sell back to them for a quick profit.
no wrong doing this as yzjm is spin off and invest in small amount looks ok. many
share holders of yzjm and yzjfh are same same.
just my opinion only.
Keep your post to SB thread if you think it's good and refrain from spamming other threads
tch77_pt75 ( Date: 01-Mar-2026 22:04) Posted:
Does not make a difference 😂
YZJ SB is the biggest winner after unloading the burden (YZJ FH and Maritime). Should cut lost and invest in YZJ SB if got opportunity
alanchee ( Date: 01-Mar-2026 17:58) Posted:
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Does not make a difference 😂
YZJ SB is the biggest winner after unloading the burden (YZJ FH and Maritime). Should cut lost and invest in YZJ SB if got opportunity
alanchee ( Date: 01-Mar-2026 17:58) Posted:
shd b S$638M, not Rmb
Winnertakeall ( Date: 01-Mar-2026 17:46) Posted:
FY2025 Results - What Happened
- Net loss for FY2025: YZJ Financial reported a small full-year net loss (S$0.52 m / ¥ 4.3 m), a swing from a profit in FY2024 to a loss in FY2025. The decline was mainly due to significant expected credit loss allowances on its debt investment portfolio, reflecting tougher credit conditions especially in parts of the China property/credit market.
- Underlying business: Ex-these allowances the ongoing business still made a modest profit, signalling that the core asset management and investment income streams have not collapsed.
- Balance sheet: The company remained net cash positive, holding over RMB638 million in cash with no external borrowings, which gives it a cushion while competition and credit markets recover.
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shd b S$638M, not Rmb
Winnertakeall ( Date: 01-Mar-2026 17:46) Posted:
FY2025 Results - What Happened
- Net loss for FY2025: YZJ Financial reported a small full-year net loss (S$0.52 m / ¥ 4.3 m), a swing from a profit in FY2024 to a loss in FY2025. The decline was mainly due to significant expected credit loss allowances on its debt investment portfolio, reflecting tougher credit conditions especially in parts of the China property/credit market.
- Underlying business: Ex-these allowances the ongoing business still made a modest profit, signalling that the core asset management and investment income streams have not collapsed.
- Balance sheet: The company remained net cash positive, holding over RMB638 million in cash with no external borrowings, which gives it a cushion while competition and credit markets recover.
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FY2025 Results - What Happened
- Net loss for FY2025: YZJ Financial reported a small full-year net loss (S$0.52 m / ¥ 4.3 m), a swing from a profit in FY2024 to a loss in FY2025. The decline was mainly due to significant expected credit loss allowances on its debt investment portfolio, reflecting tougher credit conditions especially in parts of the China property/credit market.
- Underlying business: Ex-these allowances the ongoing business still made a modest profit, signalling that the core asset management and investment income streams have not collapsed.
- Balance sheet: The company remained net cash positive, holding over RMB638 million in cash with no external borrowings, which gives it a cushion while competition and credit markets recover.
Read pg 9 FY25 result announcement, para 4 :-
Segment assets 31December2025 31December2024
China 1,808,374 2,017,036
Singapore 84,759 2,405,546
Total 1,893,133 4,422,582
YMD took almost all the SG capital, and YFH retained almost all the PRC capital with little SG assets.
Read pg 3 of the PR announcement :-
" Geographically, the Group aims to achieve a balanced 50:50 allocation between China and Asia Pacific over the next three years, strengthening portfolio diversification and resilience."
I think due to PRC capital control issue, i believe YFH ought to retain 50% of its capital in PRC. Without the YMD spin off, the 50:50 limit had already been max out.
With YMD already spin off (assets almost all fully based in SG) and now with YFH retained capital almost all booked in PRC, YFH can, and will again, be able to legitimately and progressively transfer (or free out) another ~$1B out again from PRC to SG to seek grow in APac. RenYL is really shrewd, and I think investors love this move.
Based on my observations:
The huge provision can cover YF8 full year profits (~100mil)+ profit from 8YZ(~100mil)
It is mathematical result but marketing will follow it normally 😊 !
HVRRVH ( Date: 01-Mar-2026 15:11) Posted:
The spin off is creating some accounting challenge for investors to understand. While YZJM recognised full year profit based on all the maritime assets, it only give dividends based on it actual earning based on its maritime assets post spin off. Meanwhile, YZJF also recognised its FY25 profit and loss based on all pre spin off assets including the maritime assets. That' s why it full year losses is only $5.2m despite huge provision. 1H25' s profit $137.7m + 2H25' s profit $148m [implied] -$290.9m provision = $5.2m. The $137.7m and $148m including profits from pre spin off maritime assets. So this is accounting ' big bath' . YZJF made use of the spin off opportunity to clean up its balance sheet by providing huge one time $290.9m provisions. Effectively, this is ' hidden' profits if in future, this amount somehow get written back.
As far as YZJF' s own assets is concerned, it chalked up 1H25' s profit of $55.42m [$137.7m - $82.28m as per YZJM' s introductory spin off document indicating its 1H25' s earning] and about 48m 2H25' s profit [FY $103m-1H25 $55.42m]. It has officially stated that it would record $92.2m profit if not because of the credit loss allowance so the figure is close enough. Going forward, it shouldn' t have the need to provide any more provisions. For context, it has not provide more than $40m provision in any single financial year previously. I think YZJF can generate returns of at least 3 to 5 cents eps in FY2026 and anything higher beyond that would have to depend on its investment strategies and executions. Market may or may not whack YZJF following the results as it could have already whacked in the past 2 trading days following profit guidance.
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The spin off is creating some accounting challenge for investors to understand. While YZJM recognised full year profit based on all the maritime assets, it only give dividends based on it actual earning based on its maritime assets post spin off. Meanwhile, YZJF also recognised its FY25 profit and loss based on all pre spin off assets including the maritime assets. That' s why it full year losses is only $5.2m despite huge provision. 1H25' s profit $137.7m + 2H25' s profit $148m [implied] -$290.9m provision = $5.2m. The $137.7m and $148m including profits from pre spin off maritime assets. So this is accounting ' big bath' . YZJF made use of the spin off opportunity to clean up its balance sheet by providing huge one time $290.9m provisions. Effectively, this is ' hidden' profits if in future, this amount somehow get written back.
As far as YZJF' s own assets is concerned, it chalked up 1H25' s profit of $55.42m [$137.7m - $82.28m as per YZJM' s introductory spin off document indicating its 1H25' s earning] and about 48m 2H25' s profit [FY $103m-1H25 $55.42m]. It has officially stated that it would record $92.2m profit if not because of the credit loss allowance so the figure is close enough. Going forward, it shouldn' t have the need to provide any more provisions. For context, it has not provide more than $40m provision in any single financial year previously. I think YZJF can generate returns of at least 3 to 5 cents eps in FY2026 and anything higher beyond that would have to depend on its investment strategies and executions. Market may or may not whack YZJF following the results as it could have already whacked in the past 2 trading days following profit guidance.
Agreed with your view...it should be better moving forward though price may drop tomorrow cos of the war...opportunity to buy cheaper......
pasttime ( Date: 01-Mar-2026 13:27) Posted:
profit warning is meant to break the impact of bad news into 2 pieces.
26 feb we see 84m transacted with 25.4m shorts
27 feb transactions reduced to 34.9m shorts 6.98m
results annouce. provision some think very bad. i think about there base on transacted
price of properties in china and their book value as of last report.
going forward without the burden and improving china proeprty market. we likely see some
return of cash.
now is 31cents buy 50 cents value of which 16+ cent cash.
buy back should kick in. hope they do bit by bit and more towards second half of day
as most day shorts will cover after 2pm.
no dividend never mind. must dare to buy back as it will create value with the discounted price verus nta.
liquidity for real seller. shorts are net zero.
dyodd |
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profit warning is meant to break the impact of bad news into 2 pieces.
26 feb we see 84m transacted with 25.4m shorts
27 feb transactions reduced to 34.9m shorts 6.98m
results annouce. provision some think very bad. i think about there base on transacted
price of properties in china and their book value as of last report.
going forward without the burden and improving china proeprty market. we likely see some
return of cash.
now is 31cents buy 50 cents value of which 16+ cent cash.
buy back should kick in. hope they do bit by bit and more towards second half of day
as most day shorts will cover after 2pm.
no dividend never mind. must dare to buy back as it will create value with the discounted price verus nta.
liquidity for real seller. shorts are net zero.
dyodd
Many companies in the market make a lot of money but don' t pay dividends. Yangtze River Financial won' t pay dividends this year, but it might in the second half of the year, so it won' t have a big impact. It' s currently preparing its reserves, so it can have a better outlook for the second half of the year.
hokpin ( Date: 01-Mar-2026 11:16) Posted:
| No dividend after spin off. Should be very Jialat Tmr! |
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No dividend after spin off. Should be very Jialat Tmr!
A report released by real estate research firm CRIC Research suggests that 2026 could be a crucial year for the balance sheet repair of Chinese real estate companies.
The report, published on Monday (February 16th) on its official WeChat account, indicates that looking ahead to 2026, given the industry' s long-term supply and demand dynamics have already improved, coupled with the resale of idle land and the enhancement of land resources brought about by urban renewal, the land market is expected to see more signs of stabilization.
The report predicts that land transaction volume will further stabilize in 2026. Combined with the resale of some residential land acquired from reserves, the market performance is expected to outperform the new housing market, exhibiting a relatively more stable operating trend.
Credit loss is on paper only right for financial prudence?
If the China debt can collect back even if at lower percentage later date it will be a boom year somewhere down the years but possible need wait till China properties recover and maybe even get higher interest afterwards.
Unless they write off the entire sum as totally unrecoverable.
The dividend decision is very bad I think in my view. They should have done it better.
Hopefully the reaction when market open is limited as already factor in due to profit guidance price drop earlier
Yangzijiang Financial reports significant provisions in FY2025,
targeting recovery and redeployment in FY2026
Sets sights on accelerated loan recovery with S$290.9 million allowances. Profit before allowances remained positive at S$92.2 million, reflecting continued income contributions from performing assets and associated investments.
Immediate focus post spin-off is to optimise portfolio, prioritise cash recovery, and reposition the Group for growth amidst improving economic momentum across Asia.
Plans disciplined capital deployment, including up to RMB1.0 billion into selected high-yield (> 4.5%) listed equities in 1H2026, subject to market conditions and internal risk assessment.
With a rebalanced portfolio, the Group aims to strengthen earnings resilience and support sustainable long-term returns over an investment cycle.
A sudden big provision for credit losses to the tune of $290.9m! This show signs of losing control espeically with preceding year recorded a write back of $15.4m. Essentially, if we don' t consider maritime businesses/investements [which had since been carved out], YZJF has been don' t know what to do with its cash at hands since 2022. It still has high DI of $843m on its book after provided credit losses of $290.9m, if not, it DI portfolio will hit above $1b. It now has cash or eqivelants of $638m, in other words, don' t know what to do with this money. The ' guidance' is not too reassuring too, as it still intend to keep 40% debt investment in its portfolio. I vaugely recall old Ren said DI would not consist more than 30% while he was still with YZJF. The other 40% of its portfolio will focus on equities and private credit with targeted return of at least 4.5%. When all dust settled, it still want to keep 20% as cash. To top it all, no dividend! The combined entities of YZJF and YZJM last paid $0.0345 as dividend and now after spin off, the dividend is only $0.005 combined! The combined NAV per shares hardly change and I the market will whack these 2 hard for sure and let' s see whether YZJF will defence by conducting SBB. If it doesn' t know what to do with its cash, it might as well buy back as much shares as possible at the price well below its NAV of $0.50.
property market is like that. one can only sell when the market wants to buy. and a good price only when market go all hot about property. now is cool cool time in china. so trying to force sell property
can only get very very bad price. so don' t sell. wait. ships same is cyclical.
now is up cycle so ships generally can make money. when time to sell remember not to be
greedy . just sell even if no make money.
just look at the 15 5 years planning and one will know what will go up. used your money
to buy and sit steady. even 1b can grown many times in time to come.
