More than 200 million profit per month! China's ＂most profitable＂ shipyard has a remarkable record

In the fourth quarter, the core shipbuilding business revenue increased to 3.3 billion yuan, with a net profit of 642 million yuan and a gross margin of 12%. In the face of the continued weakness of the global shipbuilding market and the decline of orders, Yangzijiang Shipbuilding Group still delivered an excellent transcript in the fourth quarter of last year, which marks a successful end in 2019.The abundant hand-held orders coupled with the operation of the joint venture shipyard Yangzi Mitsui Shipbuilding made Yangzijiang Group confident in the new year.
 
On February 28, Yangzijiang Shipbuilding Group announced its financial results for the fourth quarter of 2019, with total revenue of 4.8 billion yuan, down 2% year-on-year. Among them, the core shipbuilding business revenue was 3.3 billion yuan, slightly higher than the 3.1 billion yuan in the same period in 2018. In the fourth quarter of last year, Yangzijiang Shipbuilding Group delivered a total of 13 new ships, while 11 ships were delivered in the fourth quarter of 2018.
 
The gross margin of the core shipbuilding business of Yangzijiang Shipbuilding Group in the fourth quarter was 12%, higher than 9% in the fourth quarter of 2018. The group's gross margin increased to 19%.
 
In 2019, Yangzijiang Shipbuilding Group received orders for 21 new ships with a total value of $ 830 million. As of December 31, 2019, Yangzijiang Shipbuilding Group had a total of 75 orders for US $ 2.9 billion.
 
Ren letian, CEO of Yangzijiang Shipbuilding Group, said, "We are doing our best to prevent the outbreak of the novel coronavirus from affecting shipyards and production activities. We will also optimize our production resources to minimize any disruption to our delivery schedule."
 
"Our strategic partnership with Mitsui is of long-term value to the group and we remain committed to improving our ability to build LNG-Powered and other clean energy vessels."
 
Source:Sarah Yu,XINDE MARINE NEWS

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.