SGX:BS6

Stock Analysis Report

Yangzijiang Shipbuilding (Holdings)

Executive Summary

Yangzijiang Shipbuilding (Holdings) Ltd., an investment holding company, operates in the shipbuilding activities in the People’s Republic of China, Taiwan, Germany, Greece, Norway, Canada, Bahamas, and other Asian and European countries.

Snowflake

Fundamentals

Excellent balance sheet with solid track record and pays a dividend.

Share Price & News

How has Yangzijiang Shipbuilding (Holdings)'s share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

4.9%

BS6

3.3%

SG Machinery

1.1%

SG Market


1 Year Return

-26.0%

BS6

-22.7%

SG Machinery

0.9%

SG Market

Return vs Industry: BS6 underperformed the SG Machinery industry which returned -22.7% over the past year.

Return vs Market: BS6 underperformed the SG Market which returned 0.9% over the past year.


Shareholder returns

BS6IndustryMarket
7 Day4.9%3.3%1.1%
30 Day-10.2%-5.5%-1.9%
90 Day-35.8%-22.7%-6.5%
1 Year-23.3%-26.0%-21.1%-22.7%4.9%0.9%
3 Year45.1%30.2%8.8%2.0%15.2%2.9%
5 Year6.0%-12.6%-40.0%-46.5%11.2%-7.1%

Price Volatility Vs. Market

How volatile is Yangzijiang Shipbuilding (Holdings)'s share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Yangzijiang Shipbuilding (Holdings) undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: BS6 (SGD0.97) is trading below our estimate of fair value (SGD3.16)

Significantly Undervalued: BS6 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: BS6 is good value based on its PE Ratio (5.2x) compared to the Machinery industry average (11.6x).

PE vs Market: BS6 is good value based on its PE Ratio (5.2x) compared to the SG market (13.4x).


Price to Earnings Growth Ratio

Low PEG Ratio: BS6's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: BS6 is overvalued based on its PB Ratio (0.7x) compared to the SG Machinery industry average (0.6x).


Next Steps

Future Growth

How is Yangzijiang Shipbuilding (Holdings) forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

-8.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BS6's earnings are forecast to decline over the next 3 years (-8.5% per year).

Earnings vs Market: BS6's earnings are forecast to decline over the next 3 years (-8.5% per year).

High Growth Earnings: BS6's earnings are forecast to decline over the next 3 years.

Revenue vs Market: BS6's revenue is expected to decline over the next 3 years (-4.4% per year).

High Growth Revenue: BS6's revenue is forecast to decline over the next 3 years (-4.4% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: BS6's Return on Equity is forecast to be low in 3 years time (8.9%).


Next Steps

Past Performance

How has Yangzijiang Shipbuilding (Holdings) performed over the past 5 years?

1.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BS6's earnings have grown by 1.4% per year over the past 5 years.

Accelerating Growth: BS6's earnings growth over the past year (20.8%) exceeds its 5-year average (1.4% per year).

Earnings vs Industry: BS6 earnings growth over the past year (20.8%) exceeded the Machinery industry 9.1%.


Return on Equity

High ROE: BS6's Return on Equity (12.1%) is considered low.


Return on Assets

ROA vs Industry: BS6 has a higher Return on Assets than the Machinery industry average last year.


Return on Capital Employed

ROCE Improving: BS6 has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Yangzijiang Shipbuilding (Holdings)'s financial position?


Financial Position Analysis

Short Term Liabilities: BS6's short term assets (CN¥30.3B) exceeds its short term liabilities (CN¥9.7B)

Long Term Liabilities: BS6's short term assets (30.3B) exceeds its long term liabilities (4.9B)


Debt to Equity History and Analysis

Debt Level: BS6's debt to equity ratio (17.2%) is considered satisfactory

Reducing Debt: BS6's debt to equity ratio has reduced from 58.7% to 17.2% over the past 5 years.

Debt Coverage: BS6's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: BS6 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: BS6 has a low level of unsold assets or inventory.

Debt Coverage by Assets: BS6's debt is covered by short term assets (assets are 5.787110x debt).


Next Steps

Dividend

What is Yangzijiang Shipbuilding (Holdings)'s current dividend yield, its reliability and sustainability?

4.93%

Current Dividend Yield


Dividend Yield vs Market

company4.9%marketbottom25%2.5%markettop25%5.6%industryaverage4.7%forecastin3Years4.7%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: BS6's dividend (4.93%) is higher than the bottom 25% of dividend payers in the SG market (2.46%).

High Dividend: BS6's dividend (4.93%) is low compared to the top 25% of dividend payers in the SG market (5.56%).

Stable Dividend: BS6's dividends per share have been stable in the past 10 years.

Growing Dividend: BS6's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (26.3%), BS6's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BS6's dividends in 3 years are forecast to be well covered by earnings (31.6% payout ratio).


Next Steps

Management

What is the CEO of Yangzijiang Shipbuilding (Holdings)'s salary, the management and board of directors tenure and is there insider trading?

6.5yrs

Average board tenure


CEO

Letian Ren (37yo)

4.4yrs

Tenure

0

Mr. Letian Ren has been Chief Executive Officer at Yangzijiang Shipbuilding (Holdings) Ltd. since May 1, 2015. Mr. Ren has been General Manager of Jiangsu New Yangzi Shipbuilding Co., Ltd. since January 20 ...


Board Age and Tenure

6.5yrs

Average Tenure

65yo

Average Age

Experienced Board: BS6's board of directors are considered experienced (6.5 years average tenure).


Insider Trading

Insider Buying: BS6 insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellCN¥171,33402 Aug 19
Liang Chang
EntityIndividual
Shares107,440
Max PriceCN¥1.59
SellCN¥691,80224 Jun 19
Liang Chang
EntityIndividual
Shares420,000
Max PriceCN¥1.65
SellCN¥810,00009 Apr 19
Liang Chang
EntityIndividual
Shares500,000
Max PriceCN¥1.62
SellCN¥6,623,54414 Dec 18
BlackRock, Inc.
EntityCompany
Shares5,385,000
Max PriceCN¥1.23
SellCN¥3,627,53921 Nov 18
BlackRock, Inc.
EntityCompany
Shares2,890,700
Max PriceCN¥1.25

Ownership Breakdown


Management Team

  • Yi Fang Liu (72yo)

    Co-Founder

    • Tenure: 0yrs
  • Qiang Gao

    Co-Founder

    • Tenure: 0yrs
  • Yuanlin Ren (65yo)

    Founder & Executive Chairman

    • Tenure: 12.6yrs
    • Compensation: CN¥52.00k
  • Jianjun Xiang (59yo)

    Co-Founder & Deputy GM

    • Tenure: 0yrs
  • Ren Jinhua

    Co-Founder

    • Tenure: 0yrs
  • Jialu Huang

    Co-Founder

    • Tenure: 0yrs
  • Zhengshun Cai

    Co-Founder

    • Tenure: 0yrs
  • Lijun Xie

    Co-Founder

    • Tenure: 0yrs
  • Letian Ren (37yo)

    Chief Executive Officer

    • Tenure: 4.4yrs
  • Yu Weiping

    Co-Founder

    • Tenure: 0yrs

Board Members

  • Yi-Dar Teo (48yo)

    Lead Independent Director

    • Tenure: 0yrs
    • Compensation: CN¥45.50k
  • Yuanlin Ren (65yo)

    Founder & Executive Chairman

    • Tenure: 12.6yrs
    • Compensation: CN¥52.00k
  • Timothy Chen (65yo)

    Independent Non-Executive Director

    • Tenure: 6.5yrs
    • Compensation: CN¥45.50k
  • Wen Jiong Xu (71yo)

    Non-Independent Non-Executive Director

    • Tenure: 5.5yrs
    • Compensation: CN¥45.50k

Company Information

Yangzijiang Shipbuilding (Holdings) Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Yangzijiang Shipbuilding (Holdings) Ltd.
  • Ticker: BS6
  • Exchange: SGX
  • Founded: 1956
  • Industry: Construction Machinery and Heavy Trucks
  • Sector: Capital Goods
  • Market Cap: S$3.801b
  • Shares outstanding: 3.92b
  • Website: https://www.yzjship.com

Number of Employees


Location

  • Yangzijiang Shipbuilding (Holdings) Ltd.
  • Jiangyin-Jingjiang Industry Zone
  • 1# Lianyi Road
  • Jingjiang
  • Jiangsu Province
  • 214532
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BS6SGX (Singapore Exchange)YesOrdinary SharesSGSGDApr 2007
B8ODB (Deutsche Boerse AG)YesOrdinary SharesDEEURApr 2007
YSHL.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDApr 2007

Biography

Yangzijiang Shipbuilding (Holdings) Ltd., an investment holding company, operates in the shipbuilding activities in the People’s Republic of China, Taiwan, Germany, Greece, Norway, Canada, Bahamas, and oth ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 12:42
End of Day Share Price2019/10/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.