Yangzijiang Shipbuilding Holdings Ltd.’s first-half net profit rose 39% to 1.64 billion yuan ($253.8 million) while revenue slid 20% to CNY6.60 billion on lower shipbuilding and trading income.
The company’s shipbuilding revenue fell to CNY4.78 billion from CNY5.29 billion in the same period a year ago, it said late Thursday. It delivered 23 vessels in the period, lower than the 28 deliveries it completed a year ago.
First-half trading revenue came in at CNY321.9 million, falling from CNY1.56 billion mainly because of lower trading volume, the company said.
Yangzijiang said that in the year to date, it has secured orders for 112 vessels with contract values totaling to $6.67 billion, including 10 liquefied natural gas dual-fuel containerships.
The company said it continues to support efforts to reduce carbon emissions in the shipping industry, adding that it is looking to further develop its presence in LNG shipping.
“While we continue to pursue growth and set our sights on becoming one of the best shipyards in the world, it is also our priority to create a positive impact on the shipping industry and be part of the advancement towards its carbon neutrality goals,” Chief Executive Ren Letian said.
Sourec: Dow Jones