SGX:BS6

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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, Korea, Bahamas, other Asian and European countries, and internationally.


Snowflake Analysis

Flawless balance sheet established dividend payer.

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

Stable Share Price: BS6 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.2%

BS6

2.1%

SG Machinery

3.8%

SG Market


1 Year Return

-35.6%

BS6

-36.9%

SG Machinery

-20.5%

SG Market

Return vs Industry: BS6 exceeded the SG Machinery industry which returned -36.9% over the past year.

Return vs Market: BS6 underperformed the SG Market which returned -20.5% over the past year.


Shareholder returns

BS6IndustryMarket
7 Day3.2%2.1%3.8%
30 Day-6.8%-7.7%-1.7%
90 Day4.3%3.0%6.4%
1 Year-32.5%-35.6%-35.1%-36.9%-16.3%-20.5%
3 Year-13.6%-23.5%-35.5%-40.2%-10.9%-21.6%
5 Year-11.0%-27.3%-44.9%-51.2%-4.9%-22.2%

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?

5.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BS6 (SGD0.96) is trading below our estimate of fair value (SGD1.02)

Significantly Below Fair Value: BS6 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: BS6 is good value based on its PE Ratio (7.1x) compared to the Machinery industry average (10.1x).

PE vs Market: BS6 is good value based on its PE Ratio (7.1x) compared to the SG market (12.4x).


Price to Earnings Growth Ratio

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 (0.6x) compared to the SG Machinery industry average (0.5x).


Next Steps

Future Growth

How is Yangzijiang Shipbuilding (Holdings) forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

-1.1%

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 (-1.1% per year).

Earnings vs Market: BS6's earnings are forecast to decline over the next 3 years (-1.1% per year).

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

Revenue vs Market: BS6's revenue (0.09% per year) is forecast to grow slower than the SG market (4.2% per year).

High Growth Revenue: BS6's revenue (0.09% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BS6's Return on Equity is forecast to be low in 3 years time (7.9%).


Next Steps

Past Performance

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

6.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BS6 has high quality earnings.

Growing Profit Margin: BS6's current net profit margins (12.9%) are lower than last year (13.5%).


Past Earnings Growth Analysis

Earnings Trend: BS6's earnings have grown by 6.6% per year over the past 5 years.

Accelerating Growth: BS6's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BS6 had negative earnings growth (-18.8%) over the past year, making it difficult to compare to the Machinery industry average (10.6%).


Return on Equity

High ROE: BS6's Return on Equity (8.8%) is considered low.


Next Steps

Financial Health

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


Financial Position Analysis

Short Term Liabilities: BS6's short term assets (CN¥32.7B) exceed its short term liabilities (CN¥11.4B).

Long Term Liabilities: BS6's short term assets (CN¥32.7B) exceed its long term liabilities (CN¥2.2B).


Debt to Equity History and Analysis

Debt Level: BS6's debt to equity ratio (15.1%) is considered satisfactory.

Reducing Debt: BS6's debt to equity ratio has reduced from 37.3% to 15.1% over the past 5 years.

Debt Coverage: BS6's debt is well covered by operating cash flow (94.2%).

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


Balance Sheet


Next Steps

Dividend

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

4.62%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BS6's dividend (4.62%) is higher than the bottom 25% of dividend payers in the SG market (2.64%).

High Dividend: BS6's dividend (4.62%) is low compared to the top 25% of dividend payers in the SG market (5.96%).


Stability and Growth of Payments

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 (34.1%), 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 (29.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.3yrs

Average board tenure


CEO

Letian Ren (38yo)

5.17yrs

Tenure

Mr. Letian Ren has been Chief Executive Officer at Yangzijiang Shipbuilding (Holdings) Ltd. since May 1, 2015. Mr. Ren serves as Executive Chairman at Yangzijiang Shipbuilding (Holdings) Ltd since April 30 ...


Board Members

NamePositionTenureCompensationOwnership
Letian Ren
Executive Chairman & CEO5.17yrsno data4.18% CN¥160.4m
Shu Ming Song
Deputy GM & Executive Director0.25yrno data3.83% CN¥147.0m
Yi-Dar Teo
Lead Independent Directorno dataCN¥45.50k0.0038% CN¥147.1k
Teow Toe
Independent Non-Executive Director0.25yrno datano data
Teck Chen
Independent Non-Executive Director7.25yrsCN¥45.50kno data
Wen Jiong Xu
Non-Independent Non-Executive Director6.25yrsCN¥45.50kno data

0.3yrs

Average Tenure

50yo

Average Age

Experienced Board: BS6's board of directors are not considered experienced ( 0.3 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

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$3.840b
  • 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
SO7SGX (Singapore Exchange)YesOrdinary SharesSGCNYApr 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, Korea, Bahamas, other Asian and European countries, and internationally. The company operates through Shipbuilding, Investments, Trading, and Others segments. It produces a range of commercial vessels, such as containerships, dry bulk carriers, oil tankers, and liquefied natural gas (LNG) carriers. The company also engages in the production and processing of steel structures. In addition, it facilitates the sale and export of ships for the ship builder; trades in ship related equipment and shipbuilding related materials/supplies; provides microcredit to enterprises and individuals; and supplies marine equipment and materials, as well as engages in debt and other investment activities. Further, the company is involved in the ship demolition and vessel owning activities. The company was founded in 1956 and is based in Jingjiang, China. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/07 12:40
End of Day Share Price2020/07/07 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.