Yangzijiang Shipbuilding Reports 28.4 per Cent H1 Profit Growth

China-based Yangzijiang Shipbuilding reported a 28.4 per cent increase in net profit to CNY5.4 billion ($0.80 billion) for the six months ended June 30, 2026.

Revenue rose 36.2 per cent year-on-year to CNY17.5 billion, supported by the progressive recognition of higher-value shipbuilding contracts and a favourable product mix.

Core shipbuilding operations generated CNY16.5 billion in revenue, up 34.8 per cent from the corresponding period of 2025. Gross profit margin for the segment improved to 37.1 per cent from 35.2 per cent, while the company delivered 27 vessels during the first half.

The newly commissioned Hongyuan yard contributed CNY545 million in revenue during the second quarter. Meanwhile, the company’s shipping operations recorded a 14.5 per cent increase in revenue to CNY585.4 million, driven by higher charter rates.

Yangzijiang Shipbuilding secured new orders worth $1.75 billion for 38 vessels during the first half, comprising 25 containerships, 10 tankers, two gas carriers, and one bulk carrier.

A further $0.21 billion contract covering four tankers was signed in July, lifting total new orders for the year to $1.96 billion.

As of June 30, the company had an order book valued at $22.4 billion covering 256 vessels scheduled for delivery through 2030.

It noted that global newbuilding orders increased 66 per cent year-on-year to 42.95 million compensated gross tonnes during the first half, with Chinese shipyards accounting for approximately 72 per cent of global order volume by compensated gross tonnage.

Executive Chairman and Chief Executive Officer Ren Letian said demand for newbuildings remains strong, adding that the company’s delivery slots for 2029 are almost fully booked while negotiations continue for additional contracts.