Stock Track | Yangzijiang Shipbuilding Plummets 3.22% Following Sharp Decline in Order Wins

Stock Track11-18

Yangzijiang Shipbuilding (BS6.SI) saw its stock price plummet by 3.22% during Tuesday's trading session, as investors reacted to the company's recent announcement of a significant decrease in new orders. The sharp decline comes amid concerns over the shipbuilder's future revenue prospects.

On Monday, Yangzijiang Shipbuilding revealed that it had secured approximately US$2.2 billion worth of orders year-to-date, representing a stark contrast to the US$11.6 billion in order wins recorded during the same period last year. This substantial 81% decrease in new orders has raised questions about the company's growth trajectory and its ability to maintain its current production levels.

Despite the challenges in securing new orders, Yangzijiang Shipbuilding reported progress in its vessel deliveries. The company stated that it has delivered 46 vessels so far this year, out of a target of 56 for the entire financial year. While this indicates that the shipbuilder is on track to meet its delivery goals, investors appear to be more focused on the concerning decline in new business acquisition, which could impact future revenues and profitability.

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