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YZJ Maritime Last:0.615

+0.005

YZJ Maritime

Some fund or institution buy in 4320 lots of YZJM at S$0.695 during start of market trading today.

Buying in 4 mil shares later

Might be EQDP funds absorbing or buying YZJM at lower queue of 0.685 during closing matching and between 5.06pm to 5.15pm today.
just guessing only

I think I accumulate YZJM rather than YZJ as the formal has more and greater potential from starting base.

yzjm compared with yzj. business model very similar.
yzjm is newbie versus yzj established ship builder.
yzj issues shares 3.94b yzjm 3.48b also similar.
yzj is much bigger then yzjm. both will improve in share price as they gain business.
yzj being bigger not easy to grow in % term even with many business win.
yzjm is newbie. only starting to grow. easier to increase in % term.
so for me is yjm will have better return in % term.
dyodd

YZJ Financial Holding and Marine will take a long long time to appreciate as compared to YZJ Shipping. Look at their history and you will tell?

Thank you. This is the source I was referring to, from The Edge article dated 28.8.25 entitled " YZJ Maritime Prepare For Sail" . Let' s revisit also the following mentioned by old Ren in the article and we can act accordingly. Separately, DBSV mentioned in their report dated 21.11.25 that the $250m private placement has been " Postphone" . So we are none the wiser whether eventually there will be a private placement cum preferential offer aka rights issue.

[[ With the more lucrative maritime business no longer under its wings after the spin-off, Yangzijiang Financial is likely to see a sell-down on its stock once Yangzijiang Maritime is listed, according to Ren. To appease Yangzijiang Financial&rsquo s shareholders, who effectively are also shareholders of Yangzijiang Maritime, he says the newly listed entity plans to offer new shares through a rights issue that will be priced to sell. &ldquo The market may think a rights issue is not beneficial as it is dilutive, but the Yangzijiang Maritime rights shares will be priced attractively to benefit shareholders,&rdquo he says. &ldquo We want to make sure shareholders of Yangzijiang Financial are taken care of when its share price pulls back after the spin-off.&rdquo Ren is hopeful shareholders will welcome the rights issue, which he says he will underwrite. &ldquo Yangzijiang Maritime&rsquo s profitability will increase because the shipbuilding orders that we placed in recent years are due for delivery soon. This means we can start selling them or chartering them out for income.&rdquo

Similar to Yangzijiang Shipbuilding and Yangzijiang Financial, Yangzijiang Maritime will pay out up to 40% of its annual earnings as dividends, he lets on. &ldquo I want all shareholders of our Yangzijiang group of companies to get more from us in dividends every year than what they get in interest from leaving their money in the bank.&rdquo The rights issue is likely to take place not long after Yangzijiang Maritime&rsquo s listing. Together with the placement of up to $250 million worth of new shares to accredited and institutional investors, Yangzijiang Maritime is looking to raise about $400 million in total from the two cash calls ]]

Panda8 ( Date: 23-Nov-2025 14:25) Posted:

Currently, Yangzijiang Maritime owns 84 vessels of various types (including vessels under construction), with a total investment of over US$1 billion. Among them, there are 69 vessels in which it has invested or financed 4 vessels under lease and 11 vessels under agency.

21 Nov 2025 by DBS

Yangzijiang Financial Holding Ltd - Unlocking value via maritime spin-off
· Dividend-in-specie of YZJ Maritime completed with listing took place on 18 Nov

· Annualised FY25E ROE for YZJFH is 5% and for YZJ Maritime is 9%, both of which are anticipated to increase

· Fair value for YZJFH is estimated at SGD0.48 (0.9x PB), and for YZJ Maritime at SGD0.85 (1.4x PB)

stonkmaster ( Date: 23-Nov-2025 14:38) Posted:

Anyone knows the intrinsic value? Will it do a yzjfh from 30 cents become $1?

Currently, Yangzijiang Maritime owns 84 vessels of various types (including vessels under construction), with a total investment of over US$1 billion. Among them, there are 69 vessels in which it has invested or financed 4 vessels under lease and 11 vessels under agency.

https://links.sgx.com/1.0.0/corporate-announcements/OCPE7KXT8MIHG1BB/167a04ab2633cf73f3c17cda6aa110c87d5ff99708505abd71ed85215fff61d2

From 22 ships to 76 ships as per above link and I also vaugely recall reading somewhere the total ships ownership is now 82. I will post the source if I can find it but really, it is not important as we can wait for 3Q update or FY25 results. Patience is key.

Sharing this useful piece especially read it with the pre listing anncounement of selling 4 vessels for $180m and building another 8 vessels. Key points: It seems that YZJM is building ships in advance with joint venture partners and the ships, either under construction or already built, can be sold to 3rd party for profits. If the vessels are not sold immediately, it can be used for chartering, leasing and any other purpose the company deem fit. This is like Reit with maritime assets and this is also like shipyard without physical shipyard, as cleverly pointed out by Pastime in one of his posts. From the article, we can also tell that the delivery of the vessels are already scheduled till as far as 2028. This shipyardless model is highly scalable, with physical shipyard, there is a constrain of how many ships you can build within a certain time period, with this shipyardless model, YZJM and its JV partners can simply look at all the available shipyards and place the orders accordingly. No wonder the former YZJF' s share price keep going up since March 2025. On hindsight, it was not just due to spin off news alone that first came to light in late Feb 25, it is because this business model seems highly scalable. I may try to add a bit more tomorrow if the price doesn' t open gap up. Let' s see!

19 March 2025 1:10 GMT Updated 19 March 2025 7:43 GMT
By Irene Ang in Singapore

Chinese shipbuilding veteran Ren Yuanlin is turning his investment house&rsquo s focus from property to ship owning, inking a string of tanker new buildings worth close to $800m. Ren-led Yangzijiang Financial Holding is said to have raised its tanker newbuilding tally to 22 with fresh contracts at four Chinese shipyards and is poised to book four handysize bulkers. The company&rsquo s order spree, some for its own account but more than half in partnerships with foreign shipping companies, follows the investment company&rsquo s strategy to reduce exposure to China&rsquo s, articularly to the troubled real estate sector to focus on high-growth segments. Yangzijiang Financial believes maritime will continue to present attractive investment opportunities, driven by stricter environmental regulations and increasing demand for alternative financing solutions.

Ren was the founder and former executive chairman of China&rsquo s largest privately owned shipyard, Yangzijiang Shipbuilding, and is widely recognised for the yard&rsquo s development from building feeder ships to a portfolio of gas carriers, VLOCs, mega-size container ships and tankers.One shipping player said: &ldquo Yangzijiang Financial is tapping Ren&rsquo s knowledge of shipbuilding and the shipping industry to diversify into the ship owning arena.&rdquo According to shipbuilding sources, on its own account, Yangzijiang Financial has four 50,000-dwt product carriers under construction at Jingjiang Nanyang Shipbuilding and is said to have returned to the yard to secure up to six further vessels. The order involves four firm vessels plus an option for two additional ships. The deal brings the number of firm MR tankers Yangzijiang Financial has inked at the yard to eight. Its four under-construction new buildings were penned early this year. Sources said the firm newbuildings are fully owned by the company but it is open to other entities taking stakes.

The carriers, each featuring 12 cargo and two slop tanks, were said to cost less than $45m each. The yard is scheduled to deliver the firm vessels between 2026 and 2028. The MR tankers will be built to meet the International Maritime Organization&rsquo s Tier III emissions standards for NOx and Phase 3 of the Energy Efficiency Design Index regulation. But more than half of the newbuildings were ordered in partnership with foreign shipping companies. Yangzijiang Financial has teamed up with an unnamed UK-based shipowner to order four 50,000-dwt product/chemical tankers with IMO II classification at Penglai Zhongbai Jinglu Ship Industry. Sources said these ships are pricier than the MRs at Jingjiang Nanyang, as each newbuilding features 18 cargo tanks. They put the price at close to $50m apiece. Jinglu is scheduled to deliver the quartet between 2026 and 2027.

Yangzijiang Financial is also working with a Singapore-based shipping company to order a series of stainless steel chemical tankers at the reborn New Jiangzhou Shipbuilding. The order was for a quartet of 25,900-dwt vessels, costing about $50m each. New Jiangzhou is slated to deliver them in 2026 and 2027. Teaming up with another Hong Kong-based shipping company, Yangzijiang Financial has commissioned Wuhu Shipyard to construct four 18,500-dwt MarineLine-coated chemical tankers costing a total of about $132m, or $33m apiece. Wuhu is scheduled to deliver them at the end of this year and 2026. One shipping source said the investment company inked the Wuhu contract some time ago but the order went unreported. Sources said Yangzijiang Financial&rsquo s tanker order spree was partly driven by the profits made from the sale of two MR newbuildings last year. It sold the 50,000-dwt product carriers to Greek company Thenamaris for $53m apiece, pocketing a profit of at least $12m per ship. The Chinese investment house ordered the duo in 2023 at Yangzijiang Shipbuilding, paying slightly more than $40m each. Thenamaris recently took delivery of the product carriers Seaexplorer and Seamerit.

Now, Yangzijiang Financial is looking beyond tankers, with shipping sources indicating the company is set to extend its order spree to bulkers. The company is working with a Hong Kong-based company to order four 40,000-dwt handysizes costing about $30m per ship. TradeWinds is told that Yangzijiang Financial and its partner have not decided on the shipyard. Last month, the Singapore-listed investment company reported an increase of 51% to SGD 304.6m ($229m) in its earnings for the 2024 financial year. Yangzijiang Financial said its maritime fund assets had grown 150% since the end of 2023, and income from maritime fund assets increased by nearly 1.5 times year on year to SGD 57.2m ($43m). It has closed deals involving 66 vessels since inception. Yangzijiang Financial said it has steadily expanded its maritime portfolio, which includes vessel ownership, finance leases, loan services and joint ventures in ship chartering, brokerage and import-export activities. Meanwhile, the company&rsquo s debt investment business in China declined by 24% to SDG 1.2bn.

Remember rights issue was to get benefits from sgx for listing. Ren not short of cash . Think the small placement already done to cover listing cost. No right issue. Any way current price of 67 is cheap. Current fy already sold 6 new build ships. If they get ave USD 4m that is already USD24 m profit. Sury more to come as pressure of paying carbon tax will help green ship replacement

Today is MSCI rebalancing day....

HVRRVH ( Date: 21-Nov-2025 19:53) Posted:

Big buyer(s) and seller(s) transact marriage deal at $0.67, a total of about 19.32m which counted for about 40% of total trade volume. No issue. For such a big amount I guess the seller(s) must give some discount, as can be seen from the absent of trade done at between $0.675 to $0.680. US markets again leading the drop and the negative sentiments may continue to next week affecting the rest of the world markets. Long holders' hands may get itchy and if opportunities arise, I may actually look to accumulate YZJF and some of my other holdings. For YZJM, I want to add only at placement price which I honestly think may not happen unless world recession. By then, many things to buy also if capital is not an issue. When YZJF spun off from YZJS, it was almost one way street down from the start as far as the share price is concerned and the only support mechanism then was SBB. This time round, someone is buying big at 12% above placement price. We do not know the party(ies) that involved in this big marriage deal but given that the price was transacted well above placement price, I somehow think it is a good sign because while seller(s) can sell for many reasons below market price, the buyer(s) definitely think the price will go beyond the purchasse price going forward. For example, China Sunsine founder sell 42m shares in a marriage deal early this month for $0.66 a piece when the share price was constantly traded at well above $0.70 and even hit $0.80 before the sale. While all transactions can or may sent some " signals" to the wider market, marriage deal usually will disregard market price as long as party(ies) involved agreed with the price. Perhaps the buyer(s) would have participated in the private placement to begin with but the placement size was so small. Yes, I do hope there is a rights issue. Let' s see!