$YANGZIJIANG SHIPBLDG HLDGS LTD(BS6.SI)$
Evergrande debt implication on YZJ
YZJ has limited disclosure on its debt investments. So there is no information showing YZJ actually held Evergrande Debt
Analysis from public available information
Source: YZJ 1H Financial Result
Total Debt amortised at cost:
10,907,170+5,719,110=16,626,280
Debt investment as a percentages of total asset:
16,626,280/47,334,191 = 35%
This means that if all YZJ debt investment get wipe out, 35% of its assets will be gone
Concern about Real Estate debt default.
About 41% of its debt investments were from real estate sector.
0.41 x 16,626,280 = 6,816,774.8
Real estate debt investment as a percentage of total asset:
6,816,774.8/47,334,191 =14.4%
This means that if all YZJ real estate related debt investment get wipe out, 14.4%% of its assets will be gone.
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We verified with management that Yangzijiang has no direct exposure to Evergrande.