Yangzijiang records all-time high order wins for 124 vessels 

They are worth approx. $9.99b, the largest order wins in the company's history. 

Yangzijiang Shipbuilding Holdings revealed that it recorded its largest order wins by far for 124 vessels worth approximately $9.99b (US$7.41b).

In October, Yangzijiang Secured orders for two 82,300 DWT and four 45,000 DWT bulk carriers with a total contract value of $269m (US$200m).

Yangzijiang also released its voluntary business update for the third quarter (Q3) of 2021 on 1 November.

Core shipbuilding revenue for Q3 2021 increased by 45% year-on-year (YoY), mainly due to a higher level of shipbuilding activities during the quarter. As a result, 15 vessels were delivered in Q3. There was also a full revenue recognition for two medium-range oil tankers when the order was placed with the group, as revenue for these vessels were not recognized previously.

Revenue from the trading segment declined to $20.9m (RMB99.4m) in Q3 due to a lower volume of trading activities. This business segment continues to record a gross margin of about 1%. This includes revenue generated by other shipbuilding related businesses such as shipping logistics, chartering, and ship design services.

Overall, the group's total revenue for Q3 2021 increased by 25% YoY to a record $9.41b (RMB4.47b). The group recorded a gross profit of $2.1b (RMB1b) in Q3 2021.

In Q4 2021, Yangzijiang further secured shipbuilding orders for two 82,300 DWT and four 45,000 DWT bulk carriers with a total contract value of US$200m. As of the announcement date, the group has secured order wins for 124 vessels, Yangzijiang's largest order wins in history.

The group continues to consider various possibilities and their respective tax implications as part of its strategic review of its debt investment portfolio, allowing it to focus on its core shipbuilding business.

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