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造 船 业 已 现 复 苏 迹 象 = Shipbuilding industry has now signs of recovery
ascend88 ( Date: 13-Nov-2014 16:57) Posted:
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任 元 林 ： 造 船 业 已 现 复 苏 迹 象
yes... no sell no sell.. think YZJ is slow and steady sailing... patient will prevail
and all shall be rewarded :)
ascend88 ( Date: 13-Nov-2014 16:48) Posted:
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we also quietly watching at 1 corner....
and inside we saying to ourselves ....no sell no sell....
:)
YZJ today hidden buyers accumulated 2millions shares at 1.185 and 2millins shares at 1.19.
Once break 1.19, the price will shoot up to 1.25.
Worth to put into the radar. Stay Tune.
Yangzijiang&rsquo s RMB 3.7 billion Comeback!
Last Friday, Yangzijiang Shipbuilding (YZJ) announced its 3Q14 results which sent a signal of recovery for the group. YZJ reported a 2 percent year-on-year (YoY) increase in revenue to RMB 3.7 billion.
Net profit for the quarter fell by a marginal 1 percent yoy but brought the 9M14 net profit to RMB 2.85 billion. The 9M14 profit managed to account for 77 percent of its full year consensus estimates.
Gross margin for the shipyard&rsquo s 3Q14 remained healthy at 19.9 percent despite it being a slip from the 22.3 percent a year earlier. This was due to the delivery of five smaller vessels which commanded a lower profit margin.
Return from investments for the group grew in this quarter due to interest income from Held-To-Maturity (HTM) financial assets. The 3Q14 revenue for investments grew to RMB 407 million from 3Q13&rsquo s RMB 314 million despite lower contributions from its micro financing business.
YZJ&rsquo s micro financing business revenue decreased by 26 percent YoY to RMB 26.3 million as the amount of loans that were extended fell.
In 3Q14, YZJ manage to deliver eight vessels which was similar to the year earlier. At the same time, the group secured 32 shipbuilding contracts year to date which are worth a total of US$1.4 billion.
This brought YZJ&rsquo s order book to 114 vessels that are worth US$4.6 billion and will keep the shipyards busy till end of 2016.
Looking forward, the management believes that the Chinese shipbuilding industry is showing signs of recovery. It is supported by initiatives by the Chinese government which has put together a batch of qualified shipyards in a &ldquo White List&rdquo that YZJ is part of.
In addition, falling oil prices are expected to support the industry with a lower fuel cost.
In view of its valuations and growth prospects, analysts from OCBC Research upgraded YZJ to &ldquo Buy&rdquo with a target price of $1.31.
This comes as positive signs for a recovery in the Chinese economy which brought Chinese banks to trade at a higher industry average. This is expected to spillover to the other industries such as the shipbuilding sector.
guess they have been quietly and slowly buying since Oct......from 1.10
| YANGZIJIANG SHIPBUILDING | BUY
11 Nov 2014
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| YARDS BUSY TILL END 2016 -Healthy results -US$1.4b order book -Upgrade to BUY Yangzijiang Shipbuilding (YZJ) reported a 2% YoY rise in revenue to RMB3.7b and a 1% fall in net profit to RMB811.2m in 3Q14. Excluding a one-off tax credit of RMB349m in 2Q14, 9M14 core net profit accounted for 77% of our full year estimate. According to management, compared to last year, the Chinese shipbuilding industry is starting to show signs of a recovery as the industry consolidates. This should benefit yards that are &ldquo left standing&rdquo such as YZJ. The fall in oil prices should also support the shipping industry, in terms of lower fuel costs. Meanwhile as Chinese banks are now trading at a higher industry average of about 0.8x P/B, we increase our peg from 0.55x to 0.65x for the group&rsquo s HTM assets under our SOTP valuation. This increases our fair value estimate from S$1.24 to S$1.31. With the greater upside potential, we upgrade the stock to BUY. |
yes......but...it must rally and rocket first......:)
任 元 林 ' s remark will benefit COSCO pricing since now COSCO is so cheap to buy up.
shadow ( Date: 10-Nov-2014 11:10) Posted:
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WOW SAY! Touches 1.19 as at now today.
任 元 林 ： 造 船 业 已 现 复 苏 迹 象
2014-11-10 09:07:42
扬 子 江 船 业 (位 置 评 论 新 闻 )老 总 任 元 林 日 前 表 示 &ldquo 造 船 业 和 去 年 相 比 已 经 初 步 呈 现 复 苏 迹 象 &rdquo 。
上 周 五 ， 扬 子 江 船 业 发 布 2014年 第 3季 度 公 告 ， 公 告 称 集 团 收 入 增 长 2%至 人 民 币 37.43亿 元 ， 造 船 相 关 业 务 仍 然 为 集 团 的 主 要 收 入 来 源 ， 贡 献 集 团 季 度 收 入 的 88.4%。
2014年 第 3季 度 ， 扬 子 江 船 业 共 交 付 8艘 船 舶 ， 与 2013年 第 3季 度 的 船 舶 交 付 数 量 持 平 。 造 船 相 关 业 务 收 入 人 民 币 33亿 元 ， 与 去 年 同 期 相 比 基 本 保 持 稳 定 ， 造 船 业 务 贡 献 了 造 船 相 关 业 务 收 入 的 93%。
尽 管 运 营 形 势 艰 巨 ， 2014年 第 3季 度 ， 扬 子 江 集 团 核 心 造 船 业 务 毛 利 率 仍 保 持 在 21%的 健 康 水 准 ， 主 要 由 于 集 团 于 本 期 建 造 并 交 付 了 首 批 合 同 价 值 与 利 润 率 都 较 高 的 10,000TEU货 柜 轮 。
前 9月 ， 扬 子 江 船 业 集 团 共 获 得 32艘 有 效 船 舶 订 单 ， 合 同 总 值 14亿 美 元 。 2014年 第 3季 度 ， 集 团 旗 下 船 厂 共 有 8艘 船 舶 顺 利 交 付 。 截 至 报 告 日 ， 集 团 共 计 持 有 价 值 46亿 美 元 的 114艘 在 手 订 单 。 凭 借 上 述 订 单 ， 集 团 2016年 底 前 的 造 船 产 能 将 处 于 饱 和 状 态 。
对 于 集 团 的 财 务 表 现 及 未 来 展 望 ， 扬 子 江 船 业 老 总 任 元 林 表 示 ， 造 船 业 和 去 年 相 比 已 经 初 步 呈 现 复 苏 迹 象 。 近 期 油 价 下 跌 ， 在 某 种 意 义 上 也 将 利 好 航 运 业 。 我 们 相 信 这 一 迹 象 也 将 反 映 到 造 船 业 。
任 元 林 表 示 ， 集 团 坚 实 的 财 务 基 础 ， 良 好 的 船 舶 交 付 纪 录 ， 以 及 强 劲 的 综 合 实 力 为 我 们 赢 得 可 观 的 订 单 ， 而 今 年 新 签 订 单 也 居 行 业 前 列 。 现 有 在 手 订 单 足 以 使 集 团 旗 下 船 厂 2016年 底 前 的 造 船 产 能 处 于 饱 和 状 态 。
任 元 林 指 出 ， 中 国 政 府 对 造 船 行 业 的 产 能 过 剩 问 题 非 常 关 注 ， 并 表 示 将 不 断 提 高 产 业 集 中 度 ， 为 骨 干 企 业 提 供 更 为 优 惠 的 政 策 ， 培 养 大 型 和 先 进 船 厂 参 与 国 际 竞 争 。 进 入 政 府 认 可 &ldquo 白 名 单 &rdquo 将 增 强 集 团 获 得 新 订 单 以 及 融 资 等 方 面 的 优 势 ， 更 好 地 把 握 行 业 整 合 带 来 的 发 展 机 会 ， 从 而 促 进 集 团 的 长 远 发 展 。
他 说 ， 虽 然 投 资 者 对 集 团 持 有 至 到 期 金 融 资 产 及 房 地 产 投 资 怀 有 顾 虑 ， 集 团 采 用 严 谨 的 风 险 管 理 体 系 ， 同 时 在 投 资 上 保 持 了 足 够 的 灵 活 性 , 由 此 保 证 了 该 类 投 资 的 整 体 风 险 可 控 。 儘 管 如 此 ， 金 融 及 房 地 产 投 资 只 是 出 于 短 期 的 非 核 心 策 略 ， 我 们 的 长 远 发 展 仍 将 立 足 于 造 船 相 关 业 务 。 集 团 将 继 续 选 择 合 适 时 机 减 少 非 船 业 务 投 资 ， 逐 步 将 经 营 重 点 集 中 到 造 船 主 业 。
Yangzijiang (YZJSGD SP): SGD1.16 BUY (TP: SGD1.68)
Enjoys Government White List Support
Yangzijiang&rsquo s (YZJ) 3Q14 PATMI was healthy at CNY811m (-1% YoY, -34% QoQ), with 9M14 core PATMI meeting 75% of our FY14 forecast. Its orderbook stands strong at USD4.6bn. YZJ has been included in the Chinese Government&rsquo s White List of shipyards, which avails it policy support, making it easier to secure financing and therefore orders. We still find YZJ the strongest shipbuilder in China in a recovering industry. Maintain BUY with a SOP-based TP of SGD1.68 (45% upside).
Margins and PATMI remain strong. YZJ has again proved skeptics wrong by delivering a healthy 3Q14 with gross shipbuilding margins maintained at 20%, translating into a healthy PATMI of CNY811m. The QoQ fall in PATMI was largely due to a small spike in shipbuilding revenue in 2Q14 combined with a tax writeback which elevated the bottomline. YZJ is solidly on track to deliver FY14F core PATMI of CNY3.1bn, with 9M14 figure at c.CNY2.3bn.
Held-to-maturity (HTM) assets under control. YZJ has reduced its HTM assets slightly QoQ, with the quantum now standing at CNY12.6bn from CNY13.0bn. We expect a slow decline in this figure in inverse relation with the overall health of the shipbuilding industry, as funds are gradually redirected towards YZJ&rsquo s core shipbuilding business.
One of 51 yards on China&rsquo s &ldquo White List&rdquo . YZJ is one of only 51 (out of > 1,500) yards in China which have made it to the Central Government&rsquo s &ldquo White List&rdquo , having met requirements in environmental protection and production efficiency. These yards will receive policy support, making it easier for them to secure financing, and therefore new orders. We expect YZJ to make full use of this new status to remain at the forefront of Chinese shipbuilding. Recall that YZJ was the first shipyard in China to secure orders for 10,000 twenty-foot equivalent unit (TEU) containerships &ndash we expect the company to move towards 14,000TEU vessels and liquid petroleum gas (LPG) carriers next.
Still the most profitable yard in China. YZJ stands out as the single most profitable shipyard company in China, on top of being one of the most technologically-advanced. Maintain BUY with a SOP-based TP of SGD1.68, which values the shipbuilding business at 8x FY14F trough earnings.
Yangzijiang Shipbuilding (YZJ) is our selection of the day. From a chartist point of view, the stock is still supported by a LT rising trend line formed in mid-2013. The key support (pivot) at 1.1 holds well. Also, the daily RSI stays above the neutrality level at 50% without showing downward momentum. Therefore, we remain bullish on the stock' s ST outlook, targeting 1.21 and 1.24 on the upside.
十 一 月 十 七 日 沪 港 通 正 式 启 用 !
发 啊 ！
COSCO results not bad, profit jump 70%.
YZJ result out on 11 Nov be also very good.
Do not forget if the Shanghai and Hongkong trading soon open up.
十 一 月 一 日 沪 港 通 正 式 启 用 !
发 啊 ！
I think this stock is really very cheap now. Has great potential.
Biggest timers from CHINA is accumulating this counter since yesterday from 1.105.
Big wave is moving up soon .....
Hi friends, can you help to elabrate if BB is selling the YZJ today?
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