Yangzijiang’s Q3 net profit falls 16% to 680.67m yuan

NOV 4, 2015 10:25 AM

YANGZIJIANG Shipbuilding’s net profit for the third quarter ended Sept 30, 2015, fell 16 per cent to 680.67 million yuan (S$150 million) from 811.19 million yuan a year ago.

This was in part attributable to a 42 per cent decrease in other income, and a significant 133 per cent increase in finance expenses.

The latter rose from 95 million yuan in Q3 2014 to 222 million yuan in Q3 2015, and was mainly due to a revaluation loss on US dollar borrowings as a result of yuan depreciation.

Revenue rose 10 per cent year-on-year to 4.14 billion yuan, on the back of a higher number of vessels delivered according to schedule in Q3, as compared to the same period a year ago.

Earnings per share came to 17.76 RMB cents, down from 21.17 RMB cents in Q3 2014.

No dividend was declared.

Original Article Link:
http://www.businesstimes.com.sg/companies-markets/yangzijiangs-q3-net-profit-falls-16-to-68067m-yuan

Technically, this is what we are seeing now:

What we can see is that the stock is currently being resisted by the 50% fibo level, which is around $1.27-$1.275.

It appears that there is a higher chance that it might retrace to $1.22-$1.23 if the counter did not manage to break above the $1.27 region.

YZJ 4 Nov 2015

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