Yangzijiang Maritime’s H2 profit dips 1% to US$66.2 million in first results after spin-off

[SINGAPORE] Yangzijiang Maritime posted a 1 per cent dip in net profit to US$66.2 million for the second half of FY2025, from US$66.9 million in the prior corresponding period. This came as higher operating and listing-related expenses, as well as allowances for finance lease receivables, weighed on earnings.

Earnings per share slipped to US$0.019, from US$0.0192 previously, showed the Saturday (Feb 28) bourse filing.

This was despite higher total income, which went up 13 per cent to US$87.7 million, mainly due to higher income from maritime fund assets and higher net fair value gains. 

The maritime financial solutions provider proposed a final dividend of S$0.005 per share, with the dividend level determined with reference to the group’s earnings after it was spun off.

In November last year, Yangzijiang Maritime was spun off from the maritime investment segment of Yangzijiang Financial , which itself was similarly spun off from Yangzijiang Shipbuilding in 2022.

For the full year, Yangzijiang Maritime’s net profit dropped 5 per cent to US$129.7 million, due to higher operating expenses to expand its maritime fund assets and one-time listing expenses.

Total income was down 4 per cent, mainly attributable to lower interest income and lower net fair value gains.

Outlook

Looking ahead, the group said that it intends to “capitalise on the macro opportunities brought on by the structural shifts within the maritime industry”, which are driven by tighter capital conditions in the Western capital markets and accelerating decarbonisation requirements by the International Maritime Organization.

Ren Yuanlin, executive chairman and chief executive of Yangzijiang Maritime, noted that the group is committed to deliver “attractive returns” to shareholders.

“We are well-positioned to provide sustainable dividends and undertake share buybacks that reflect our confidence in ongoing growth and our dedication to rewarding shareholders,” he added.

Ahead of the results, shares of Yangzijiang Maritime were up S$0.045, or 7.8 per cent, at S$0.625 on Friday.