YZJ Shipbldg SGD    Last:3.4    +0.03

The Only Shipbuilding Blue Chip in SGX!

Why SBB is usually positive for YZj Shipbuilding   

1. Signals management thinks stock is undervalued

• Buybacks are often done when management believes the share price doesnt reflect intrinsic value
• This fits recent commentary that the group share price does not accurately reflect intrinsic value

👉 Market takeaway: confidence signal

2. Improves shareholder returns (EPS, ROE)

• Fewer shares mean higher earnings per share (EPS)
• Can boost valuation multiples over time

3. Uses excess cash efficiently

• Buybacks are typically done when the company has strong cash flow / balance sheet
• Suggests no urgent need for capital elsewhere

4. Provides downside support

• If they actively buy in the market, it can:
  • Stabilise price
  • Reduce volatility

 

YZJ should be on the way up this week.

 

Proposed Shsre buy back

https://links.sgx.com/1.0.0/corporate-announcements/7ZJA5ATPP96JANKM/2066095b18987b8df86df5d9df6bcc27d6be87341f3509ce4b5047cd3a29aeb5

 

think need more analyst to raise the TP then got impact. Best is DBS also join in. See YZJ maritime and u will know.

 

UOBKH raises Yangzijiang Shipbuilding target price to S$4.75 on Seaspan stake

It will acquire a 10% stake in Poseidon, the holding company of Seaspan, for US$825.7 million

[SINGAPORE] UOB Kay Hian (UOBKH) raised its target price for Yangzijiang Shipbuilding (YZJ) : BS6 +0.76% to S$4.75 on Monday (Apr 6), up from S$4.60. It cited a strategic acquisition that enhances the group&rsquo s &ldquo visibility, stability and growth&rdquo .

UOBKH analyst Adrian Loh maintained a &ldquo buy&rdquo call on the Chinese shipbuilder, following the group&rsquo s announcement that it will acquire a 10 per cent stake in Poseidon, the holding company of Seaspan, for US$825.7 million.

Seaspan operates long-term charters with major liners, providing stable contracted cash flows and counter-cyclical earnings relative to shipbuilders, Loh noted. 

The investment was made at a premium of roughly 2 to 25 per cent over fair value, but Loh believes the &ldquo financially full&rdquo price is justified by strategic considerations. 

These considerations include securing alignment with Seaspan, and likely enhances order visibility going forward, he said. The company indicated that the acquisition would have increased 2025 pro forma net profit by around 5 per cent.

&ldquo The investment positions YZJ further upstream in the container ship value chain, providing direct visibility into fleet renewal cycles and global charter dynamics,&rdquo he added.

&ldquo We view the Poseidon investment as a clear step towards vertical integration, linking YZJ more closely with end-demand,&rdquo Loh said. &ldquo As a result, YZJ should now have forward visibility on fleet expansion and replacement needs, thus enabling it to better plan yard capacity, optimise slot utilisation and secure repeat orders.

&ldquo In effect, the company embeds a degree of order pipeline visibility into its business model, reducing earnings volatility and mitigating the traditional boom-bust dynamics of shipbuilding.&rdquo

The brokerage also highlighted the group&rsquo s robust operational performance. 

YZJ secured 22 new vessel orders worth US$980 million in Q1 2026, comprising 17 container ships, four oil tankers and one bulk carrier. Its US$23 billion order book across 256 vessels supports earnings visibility through 2029.

Loh noted that structural drivers remain firmly intact. Demand is underpinned by an ageing global fleet and tightening IMO 2030/2050 decarbonisation regulations, which require fuel-efficient new builds.

He added that the container ship market remains resilient in 2026, with charter rates near post-Covid highs. 

Freight rates have been supported by geopolitical disruptions, including tensions in the Middle East that have pushed China-Europe rates up by around 20 per cent since February 2026.

 

A Look At Yangzijiang Shipbuilding (SGX:BS6) Valuation After Securing US$0.98b In New Vessel Contracts

Contract win and why it matters for Yangzijiang Shipbuilding (Holdings) (SGX:BS6)
https://simplywall.st/stocks/sg/capital-goods/sgx-bs6/yangzijiang-shipbuilding-holdings-shares/news/a-look-at-yangzijiang-shipbuilding-sgxbs6-valuation-after-se

 

https://marketing.utrade.com.sg/e3t/Ctc/L1+113/d4GP3-04/VVm6m73lNZWyW21FcCQ1cv476W1FPBGm5MwVlWN2bpb_C5nR3bW50kH_H6lZ3nVN4sH1pGpnfv0W5ch4zf1Jts0cW8bmdkT4VZr7TVFdLbb37BV9wN34rQHMQjXq_W8D26kW8bdXVlW2YxlqT38-3fxW7cZ5Z-6QSTjyW84qB3Q7k0l8CW54Xh7_7_QspMW9jXLMM7xWXHqW3ZnKb-7Kh7_8W3PN4TC60YMXVW8dzGMY9874PRW7wSFNY1Dh4rYV5Xk1Z3mZcJGW7Slrps6jjQkfW6g52zL8cXXCGN8z0Sn8n8tC2W1g2WXH1VB3dKW9bdgjJ1ql44gW8Hw1rJ4Dg7ZJW6VNS3n1cCrGZVTwwTz6SwszHN2VWVrzwYpMvW2W8nm532b5cdW5Kps_S45rn4ZV4Wn-461Z9H9W25yLgq5vX4nDW6bLWpH2Vh1_FW7b-Q3w8LyCtfW5w1lr53Dj85NdMY4Fn04

 

The Edge Singapore | Loh of UOBKH raises target price 
for YZJ to $4.75 following US$825.7 mil Seaspan stake.

Adrian Loh of UOB Kay Hian has slightly raised his target price for Yangzijiang Shipbuilding from $4.60 to $4.75 after the company announced additional order wins, plus to reflect potential higher earnings from a planned investment in a customer.

https://www.theedgesingapore.com/capital/brokers-calls/loh-uobkh-raises-target-price-yzj-475-following-us8257-mil-seaspan-stake
 

 

Base Data

• FY21 DPS: 4.5¢
• FY24 DPS: 12.0¢
• FY25 assumption: 20.0¢

---

FY26 to FY28 Projections

Scenario	FY26 DPS	FY27 DPS	FY28 DPS
Continuation of FY21 to FY25 CAGR (~45%)	~29¢	~42¢	~61¢
Moderate growth (+30% YoY)	~26¢	~34¢	~44¢
Conservative growth (+20% YoY)	~24¢	~29¢	~35¢

---

Insights

• If the company sustains the 45% CAGR pace, dividends could more than triple again by FY28, reaching ~61¢ .
• Even with more moderate growth (20 to 30%), DPS still compounds meaningfully, reaching ~35 to 44¢ by FY28.
• The FY25 jump to 20¢ already signals acceleration,  FY26 to FY28 will show whether this is a structural shift (e.g., stronger cash flows, higher payout policy) or a one-off surge.

 

Winnertakeall      ( Date: 03-Apr-2026 20:34) Posted: Three Cash-Rich Blue Chips to Weather Market Turbulence 1) Genting Singapore (SGX: G13)       The Net Cash Compounder 2) Singapore Exchange Limited (SGX: S68), or SGX       The Defensive Market Leader 3) Yangzijiang Shipbuilding (SGX: BS6), or YZJ       The Dividend Stability Leader YZJ stands out because it doesn t just report strong earnings it actually turns those profits into cold, hard cash & ndash the fuel behind its steady dividend growth. The group has grown its annual dividend from S$0.045 in FY2021 to S$0.12 in FY2024, more than doubling payouts over that period. For FY2025, the board has proposed a final dividend of S$0.20 per share a further step up implying a 50% payout ratio and a yield of around 5.2% at the current share price. For FY2025, net profit surged 30.2% year on year (YoY) to RMB8.6 billion a record high. Margins also expanded, with net profit margin rising to 30.3%, up from 25.0% the year before. YZJ is also locking in future revenue streams: its orderbook stood at US$22.4 billion for 245 vessels, stretching deliveries through to 2030. With rising profits, a clear dividend plan, and a packed orderbook, YZJ offers a rare mix of immediate  yield and visible growth.

 

Three Cash-Rich Blue Chips to Weather Market Turbulence

1) Genting Singapore (SGX: G13)
      The Net Cash Compounder

2) Singapore Exchange Limited (SGX: S68), or SGX
      The Defensive Market Leader

 

Likely to be in early May but no official announcement yet.

cutlelin      ( Date: 02-Apr-2026 10:09) Posted: Any idea when YZJ shipping Div coming?

 

Any idea when YZJ shipping Div coming? 

 

Yangzijiang management should propose a resolution in the coming AGM to rally support for dual listing from all shareholders.....I am sure the response will be  overwhelming


 

 

Yangzijiang Clarification Announcement

https://links.sgx.com/1.0.0/corporate-announcements/4W7JFNP5OFDDELBK/881505_Announcement_Clarification%201%20Apr%202026.pdf

 

basically he is saying his 3 listed companies in sgx hv been performing like sheet, their underlying value should hv been doubled or maybe tripled,

agreed it may not be an appropriate forum to voice his grievances, but seriously i concur with him wholeheartedly, lololol

Heybie      ( Date: 01-Apr-2026 13:06) Posted: Such a test water kind of information disclosure by a chairman of a listed company thru an informal channel should be considered unprofessional and in violation of listing rule.

 

Such a test water kind of information disclosure by a chairman of a listed company thru an informal channel should be considered unprofessional and in violation of listing rule. 

 

 

My understanding is that have to delist by buying out shareholders first, provided the offer price is attractive, before the company can relist in a new market. 

whereru      ( Date: 01-Apr-2026 12:06) Posted: let the coy, CDP, custodians worry abt the process... we just need to hold and wait for the process to be completed. Louistan      ( Date: 01-Apr-2026 11:54) Posted: Can transfer listing to HKEX without first delisting in SGX

 

Ren Yuanlin, a veteran in China's shipbuilding industry: Two listed companies may "leave" Hong Kong.

Ren Yuanlin, a veteran in China's shipbuilding industry, is offering thought-provoking "chilled reflections" on Singapore's capital market, where he has been deeply engaged for many years.

Recently, Ren Yuanlin, CEO and Executive Chairman of Yangtze River Maritime Development, stated in an interview that the current volume and activity of the Singapore stock market have fallen into a state of "excessive silence." In his view, this weak market environment can no longer objectively reflect the true value of his shipping and financial assets. Based on this, the Yangtze River Group is at a crossroads in its capital layout: the company is carefully considering listing Yangtze River Maritime Development, Yangtze River Financial Control, or both in Hong Kong. Ren Yuanlin revealed that it cannot be ruled out that dual listing or delisting from the Singapore Exchange (SGX) could be implemented, although the final decision is still under consideration.

As a long-time and staunch supporter of the Singapore Exchange, Ren Yuanlin has previously completed a "three-way tripartite" capital portfolio in Singapore, covering Yangtze River Shipping (BS6), Yangtze River Financial Control (YF8), and Yangtze River Maritime Development (8YZ.SI). However, the market value performance of the latter two clearly disappointed them. Ren Yuanlin specifically mentioned the significant distortion in market pricing?especially when the price-to-book ratio (P/B) remains consistently below 1, asset values are significantly undervalued.

Looking back on its capital path, Yangtze River Financial, which was listed after spin-off from its parent company in April 2022, was once highly anticipated and included in the Straits Times Index. However, as of the close on March 31, 2026, its stock price was reported at 0.25 Singapore dollars, an increase of only 0.01 Singapore dollars from its initial listing. Although the stock touched a five-year high of 0.53 Singapore dollars in October 2025, it subsequently experienced a "halve" trend, with its current market value remaining at only 870 million Singapore dollars.

By comparison, Yangtze River Maritime Development, which was introduced in November last year, performed even more poorly. As of the end of March this year, its stock price was reported at 0.52 Singapore dollars, a cumulative decline of more than 21% from its initial high. A market capitalization of 1.814 billion Singapore dollars corresponds to a price-to-earnings ratio (TTM) of only 0.11 times. This extremely low price-to-earnings ratio and weak trading volume are undoubtedly eroding investors' confidence.

Ren Yuanlin's shift in understanding of the Singapore stock market hinges on his vigilance against "liquidity depletion." He pointed out that the current situation of limited market size and weak trading volume has led to a continued weakening of the market's appeal to international investors.

He further provided a striking comparison: if its core asset, Yangtze River Shipping, were to list in Hong Kong, its current stock price level of about 4 Singapore dollars could theoretically achieve a valuation reshaping close to 10 Singapore dollars due to the differences in valuation logic between the two markets. This significant "valuation differentiation" is precisely the key factor driving the Yangtze River system to re-examine its main capital battlefield.

As one of China's leading private shipbuilding companies, Yangtze River Shipbuilding currently holds nearly 250 new shipbuilding orders, with a total value of up to $22.4 billion, and its order reserve is quite stable.

As of the close on March 31, 2026, the stock price of Yangtze River Shipping was 3.78 Singapore dollars, with a cumulative increase of 425% since its listing. It is the most outstanding medium- to long-term performance target among the three Yangtze River-affiliated companies. From the perspective of the largest historical cycle, after the company's stock price surged to 0.72 Singapore dollars in the early stages of its listing in 2007, it has remained fluctuating within the range of 0.5-1 Singapore dollars for a long time. After 2022, it began a continuous upward trend, accelerating in 2025, reaching a 52-week high of 4.62 Singapore dollars. Although the current stock price has slightly declined from its peak, it remains in a historical high range. Yangtze River Shipbuilding's current market capitalization is 15.022 billion Singapore dollars.

For a long time, the Singapore Exchange has repeatedly faced questions of "weak growth" in its global capital market competition. Faced with the crisis of losing large-cap stocks, the Singaporean government has planned to inject 1.5 billion Singapore dollars to boost stock market vitality. However, for shipping industry giants like the Yangtze River seeking value return, whether this injected "vital water" can significantly improve the market's liquidity structure and prevent high-quality companies from moving south to Hong Kong still needs to be tested by time.

[Submission], [Providing clues], [Reprint] Please leave a message in the backend or email submission and send it to your [email protected].

 

Thank you to @cltang for finding this article. Since it is considered value accrediting to all shareholders, we paste the contents here. Something SGX can refer to for their improvement.

中 国 造 船 业 老 将 任 元 林 ： 两 家 上 市 公 司 或 ?出 走 ?香 港

中 国 造 船 业 老 将 任 元 林 ， 正 对 其 深 耕 多 年 的 新 加 坡 资 本 市 场 发 出 一 番 耐 人 寻 味 的 ?冷 思 考 ?。

近 日 ， 扬 子 江 海 事 发 展 首 席 执 行 官 兼 执 行 董 事 长 任 元 林 在 接 受 采 访 时 直 言 ， 新 加 坡 股 市 当 前 的 体 量 与 活 跃 度 已 陷 入 ?过 于 沉 寂 ?的 状 态 。 在 他 看 来 ， 这 种 乏 力 的 市 场 环 境 ， 已 难 以 客 观 映 射 出 其 麾 下 航 运 与 金 融 资 产 的 真 实 价 值 。 基 于 此 ， 扬 子 江 系 正 站 在 资 本 布 局 的 十 字 路 口 ： 公 司 正 审 慎 考 虑 将 扬 子 江 海 事 发 展 、 扬 子 江 金 控 或 两 者 一 同 转 往 香 港 上 市 。 任 元 林 透 露 ， 不 排 除 采 取 双 重 上 市 甚 至 从 新 交 所 （ SGX） 退 市 的 可 能 性 ， 尽 管 最 终 决 策 尚 在 酝 酿 之 中 。

作 为 新 交 所 的 长 期 坚 定 支 持 者 ， 任 元 林 此 前 已 在 新 加 坡 完 成 了 ?三 足 鼎 立 ?的 资 本 版 图 ， 涵 盖 扬 子 江 船 业 （ BS6） 、 扬 子 江 金 控 （ YF8） 及 扬 子 江 海 事 发 展 （ 8YZ.SI） 。 然 而 ， 后 两 者 的 市 值 表 现 显 然 令 其 失 望 。 任 元 林 特 别 提 到 了 市 场 定 价 的 显 著 扭 曲 ??尤 其 是 在 市 净 率 （ P/B） 长 期 低 于 1的 情 况 下 ， 资 产 价 值 被 严 重 低 估 。

回 顾 其 资 本 路 径 ， 2022年 4月 从 母 体 分 拆 上 市 的 扬 子 江 金 控 ， 曾 一 度 被 寄 予 厚 望 并 入 选 海 峡 时 报 指 数 成 份 股 。 然 而 ， 截 至 2026年 3月 31日 收 盘 ， 其 股 价 报 0.25新 元 ， 较 上 市 之 初 仅 微 增 0.01新 元 。 尽 管 该 股 在 2025年 10月 曾 触 及 0.53新 元 的 五 年 高 位 ， 但 随 后 便 经 历 ?腰 斩 ?行 情 ， 目 前 市 值 仅 维 持 在 8.70亿 新 元 。

相 比 之 下 ， 去 年 11月 以 介 绍 方 式 上 市 的 扬 子 江 海 事 发 展 ， 其 表 现 则 更 为 惨 淡 。 截 至 今 年 3月 底 ， 其 股 价 报 0.52新 元 ， 较 上 市 初 期 的 高 点 累 计 跌 幅 超 21%， 18.14亿 新 元 的 市 值 对 应 仅 0.11倍 的 市 盈 率 （ TTM） 。 这 种 极 端 的 低 市 盈 率 与 低 迷 的 成 交 量 ， 无 疑 正 磨 灭 投 资 者 的 信 心

任 元 林 对 新 加 坡 股 市 的 认 识 转 变 ， 核 心 在 于 对 ?流 动 性 枯 竭 ?的 警 惕 。 他 指 出 ， 市 场 规 模 有 限 与 成 交 清 淡 的 现 状 ， 导 致 市 场 对 国 际 投 资 者 的 吸 引 力 持 续 减 弱 。

他 进 一 步 给 出 了 一 个 极 具 震 撼 力 的 对 比 ： 若 核 心 资 产 扬 子 江 船 业 转 赴 香 港 上 市 ， 其 目 前 约 4新 元 的 股 价 水 平 ， 在 两 地 市 场 估 值 逻 辑 的 差 异 下 ， 理 论 上 有 望 获 得 接 近 10新 元 的 估 值 重 塑 。 这 种 显 著 的 ?估 值 分 化 ?， 正 是 驱 使 扬 子 江 系 重 新 审 视 资 本 主 战 场 的 关 键 诱 因 。

作 为 中 国 领 先 的 民 营 造 船 企 业 之 一 ， 扬 子 江 船 业 目 前 手 持 近 250艘 新 造 船 订 单 ， 总 价 值 高 达 224亿 美 元 ， 订 单 储 备 相 当 稳 健 。
截 至 2026 年 3 月 31 日 收 盘 ， 扬 子 江 船 业 股 价 为 3.78 新 元 ， 上 市 以 来 累 计 涨 幅 达 425%， 是 扬 子 江 系 三 家 公 司 中 长 期 表 现 最 亮 眼 的 标 的 。 从 历 史 最 大 周 期 走 势 来 看 ， 公 司 股 价 在 2007 年 上 市 初 期 冲 高 至 0.72 新 元 后 ， 长 期 在 0.5-1 新 元 区 间 震 荡 ， 2022 年 后 开 启 持 续 上 涨 行 情 ， 2025 年 加 速 上 行 ， 52 周 高 点 达 4.62 新 元 ， 当 前 股 价 虽 较 高 点 有 所 回 落 ， 但 仍 处 于 历 史 高 位 区 间 ， 扬 子 江 船 业 当 前 市 值 为 150.22 亿 新 元 。

长 期 以 来 ， 新 交 所 在 全 球 资 本 市 场 的 角 力 中 屡 遭 ?增 长 乏 力 ?的 质 疑 。 面 对 大 盘 股 流 失 的 危 机 ， 新 加 坡 政 府 已 计 划 注 入 15亿 新 元 资 金 以 提 振 股 市 活 力 。 然 而 ， 对 于 像 扬 子 江 这 样 寻 求 价 值 回 归 的 航 运 产 业 巨 头 而 言 ， 这 笔 注 入 的 ?活 水 ?能 否 彻 底 改 善 市 场 的 流 动 性 结 构 ， 并 阻 挡 优 质 企 业 南 下 香 港 的 脚 步 ， 仍 需 经 受 时 间 的 严 苛 考 验 。

【 投 稿 】 、 【 提 供 线 索 】 、 【 转 载 】 请 后 台 留 言 或 电 邮 投 稿 ， 发 送 至 邮 箱 [email protected]。

Heybie      ( Date: 01-Apr-2026 12:11) Posted: The Chinese interview article with Uncle Ren has since been removed by the author. Whether is true or fake?......I think YZJ should clarify to prevent further speculation.

 

The Chinese interview article with Uncle Ren has since been removed by the author.
Whether is true or fake?......I think YZJ should clarify to prevent further speculation.