【Yangzijiang BS6 交流专区】 揚子江造船 YANGZIJIANG SHIPBLDG HLDGS LTD

franklyss

扬子江船业三季度交船数量大减

2012-11-08 08:47
扬子江船业日前发布三季度报告，报告称今年第三季度扬子江船业交船数量较去年同期下滑，单季营收、获利呈现同步年减格局，税后利润8.77亿元，同比减少14%。主要原因是由于2012上半年集团撤销8艘船舶建造合同，整体造船计划受到影响，三季度交付船舶数量仅9艘，低于去年同期的19艘；好在包括拆船及与船舶相关业务的新增项目，让单季营收年减幅度压缩到仅1%。

扬子江船业指出，集团手持订单总价仍有36亿元美金，足以度过造船业景气寒冬，同时往海洋工程、岸外海事业务迁移的策略不变，往综合海事集团的方向迈进。

截至今年三季度为止，扬子江船业总交船数量已达到39艘，而目前手持订单仍有75艘、订单总价达36亿美元。扬子江船业称，即使造船产业短期内预期仍将处于低迷时期，公司仍然坚持以造船为集团的主营业务，在综合海事集团的策略下，将以造船为主，辅以拆船及钢结构、海洋工程；同时扬子江转投资的金融投资业务、房地产发展项目及航运则将为集团贡献额外的营收来源。

为了继续维持在造船产业的竞争优势，扬子江船业不断推出更节能环保的新船型，今年以来扬子江船业已推出包括4800 TEU集装箱船、10000 TEU集装箱船以及64000载重吨散货船，并均已接获订单。

http://finance.glinfo.com/12/1108/08/A908DB087CD941A0.html

[船舶] 扬子江船业寻找克服危机之路

2012-11-08 09:07:02
江苏扬子江船业为了克服订单荒危机寻找多方面的解决方案。
根据该第三季度业绩报告，7-9月扬子江船业的净利为8.77亿元，同比下降14%,销售也从去年同期的37亿元下降到36亿元。

以9月末为准，手持订单量约为75艘（集装箱船40艘、散货船35艘）、36亿美元。

该公司为了解决目前的订单荒所带来的利益下降问题，计划把事业范围扩大到海工、拆船、钢铁结构物等领域，逐步成为了“提供综合型海洋服务”的企业。

该公司表示，散货船及集装箱船等原来的焦点项目也持续保持了状态，于此同时，通过金融投资、房地产开发以及物流等项目，调整了收益性结构。

http://www.cnss.com.cn/html/2012/shipbuilding_1108/83981.html

franklyss

[船舶] 扬子江1万TEU项目进行激烈协商

2012-11-09 15:41:57
扬子江船业及加拿大船东Seaspan公司在10,000TEU集装箱船的备选订单是否生效的问题上，持续展开激烈的协商。

根据业界的消息，备选订单的生效时间及新造船价还没具体的定下来，Seaspan公司CEO Gerry Wang在此问题上表示，会慢慢进行此项目，不会急急忙忙的签署生效合同，而且眼下有关什么时候、订购几艘等问题都还没有具体决定。

不过眼下的船价大幅下降，且目前是通过对亲环境船舶投资、整顿船队的最佳时机，所以因市况下滑无法确保船舶金融也不需要再推迟新造投资项目。

去年6月，扬子江船业从Seaspan公司获得了7艘+18艘10,000TEU超大型集装箱船订单，每一艘船价约为1亿美元，但今年8月该备选订单的生效到期时间从原来的6月推迟到今年12月，备选订单的船价也再通过协商下调到8500万美元的水平。

不过对此问题上，扬子江船业老总任元林表示，该备选订单的船价可能高于Seaspan公司提出的船价，Seaspan公司为了获得船舶金融而正寻找恰当的银行，也有可能从上一次获得过船舶金融的国家开发银行再获得船舶金融。
另外，扬子江船业近日发表了今年第三季度业绩，7-9月扬子江船业的净利为8.77亿元，同比下降14%；销售为36.1亿元，同比下降1%。以9月末为准，手持订单量约为75艘（集装箱船40艘、散货船35艘）、36亿美元。

http://www.cnss.com.cn/html/2012/shipbuilding_1109/84313.html

fbb05

假如不是内行的人很难判断是否值得投资

johnlai

买了三只股，老杨，老云g13，同老虎都跌到仆街，究竟牛市何时再來，唉…何日股再升…

franklyss

[船舶] 扬子江船业“底价订单等于毒药”

扬子江船业董事长给造船厂之间的的底价竞争敲响了警钟。扬子江船业董事长任元林近日在Lloyd's List的采访中警告称，如果造船厂没有获得订单，那么就无法生存下去，即便如此，获得底价订单会使造船厂更快走下坡路。他表示，底价订单等于“毒药”，该公司在第三季度之所以没有获得订单，是因为拒绝了底价订单。他尤其表示，该公司近日因船价太低而距拒过CIMC的订单，该订单为CIMC公司在与法国CMA CGM签署的长期包租合同的基础上进行的9,200TEU级集装箱船订购项目，CIMC公司已经在其他造船厂订购了该船舶。任元林表示，该新造项目最早与扬子江船业进行新造协商，不过考虑到新造价格，最终放弃了这份订单。考虑到扬子江船业的建造成本相比业界平均值低5%，因此对扬子江船业来说较低的船价，对其他造船厂来说当然更低。另外，它对造船业的展望表示，如果去年的业界市况比喻成“灰色”，那么今年的颜色为“黑色”，明年的为“红色”。扬子江船业也预计将从2013年下半年到2014年上半年面临有史以来最严重的危机状况。他还强调，扬子江船业正为了获得海工订单而加快接单步伐，虽然在年内有可能获得自升式钻井平台订单，不过最为重要的就是通过接单项目创下一定程度的利益。

http://www.cnss.com.cn/html/2012/shipbuilding_1113/84582.html

lvyee

這家是不是可以丟了,1.005買的,沒眼看了....

Thx2012

@lvyee  
还不快丢，这家历史有跌过到0.30。你自己保重。。。。

franklyss

扬子江海工获得首艘自升势钻井平台订单

2012-11-28
中国大型民企扬子江船业在海洋领域的子公司扬子江海工有限公司（：扬子江海工）从Qatar Investment Corporation获得了相当于2亿美元规模的自升势钻井平台订单。

安排在下周正式签署建造合同，位于江苏省太仓市的海洋设备造船厂进行建造项目，计划其建造开工之后，过30个月的时间，建造完工、交付给船东。

该钻井平台将基于‘LeTourneau Super 116E’设计基础下，进行建造，美国Cameron公司提供钻井设备，美国船级入级。在水下350英尺海域进行钻井工作，最深可钻井到3万英尺，可容纳120多人。

另外，扬子江海工在去年12月成立，而此次获得了该公司的首分海洋平台订单。

http://www.opsteel.cn/news/2012-11/CF846E79F51458E9E040080A7EC90FDE.html

icy97

Yangzijiang wins maiden offshore order worth $207m for jackup drilling rig
http://www.theedgesingapore.com/the-daily-edge/business/41436-yangzijiang-wins-maiden-offshore-order-worth-207m-for-jackup-drilling-rig.html

Mon, 3 Dec 18:28
Yangzijiang Shipbuilding (Holdings) said 78%-owned Jiangsu Yangzijiang Offshore Engineering Co. has clinched its debut offshore oil and gas order.

JYOEC has entered into a construction contract with Explorer I Limited, which is wholly-owned by Mena Offshore Investments and managed by Offshore Logistics (Asia Pacific) (OLAP), to construct and deliver one unit of Letourneau Super 116E Class design self-elevating Mobile Offshore Jackup Drilling Rig worth US$170 million ($207 million).

This contract includes an option to construct one additional identical unit.

扬子江赢得价值1亿7,000万美元的首张离岸油气订单
http://www.sharesinv.com/zh/articles/35973/

2012年12月04日
扬子江船厂控股(Yangzijiang Shipbuilding (Hldgs))赢得价值1亿7,000万美元(2亿零700万元)的首份离岸油气合约，以建造1座Letourneau Super 116E级别的自升式移动离岸钻台。这份合约是通过公司持有78%股权的Jiangsu Yangzijiang Offshore Engineering与Explorer I签署，后者是Mena Offshore Investments的全资子公司，并由Offshore Logistics所管理。合约下的钻台将能钻凿3万英尺的深度，并能在水深350英尺之处操作。钻台除了装有钻凿设备和系统外，也能容纳120人的住宿设施。

启示：这是公司正式进军离岸油气领域，因此是其一大业务发展。该钻台定于2Q15交付，它将在江苏新扬子造船厂建造，并在公司位于太仓的新岸外基地组装。

icy97

Yangzijiang's jackup contract margin may be unattractive: OSK-DMG
http://www.theedgesingapore.com/the-daily-edge/business/41475-yangzijiangs-jackup-contract-margin-may-be-unattractive-osk-dmg.html

Tue, 4 Dec 14:37   
OSK-DMG is neutral on news Yangzijiang landed a US$170 million ($207 million) jackup rig contract with an option for an additional unit and an LOI for an SSP unit, which is a form of FPSO.

“The rig contract is not a surprise as management guided that they are looking to close two jackup orders by the end of the year. While the jackup order should generate some excitement for the stock, the shipyard could experience a steep learning curve as this will be YZJ’s first rig project. Moreover, the price of the jackup appears on the low end of recent orders for similar design rigs and we believe margins may not be attractive.”

It notes the unit pricing is significantly below a US$227 million order secured by Lamprell for a similar unit in May. It adds, the LOI’s risk lies in execution of the design as the SSP will be the first such unit globally; it notes no contract value was disclosed. It rates the stock Neutral with $0.95 target. It expects YZJ to post minus-20% FY11-14 EPS CAGR.

skyship

三天只狂涨，明天有戏看了。

Ashahi18

skyship 发表于 11-1-2013 09:53 AM
三天只狂涨，明天有戏看了。

什麼意思？這只為什麼突然間漲那麼多？有什麼消息？

icy97

Shipbuilding stocks gain on strong China trade
http://www.theedgesingapore.com/the-daily-edge/business/42240-shipbuilding-stocks-gain-on-strong-china-trade-.html

Fri, 11 Jan 12:13   
Shares of Yangzijiang Shipbuilding (Holdings) rose as much as 6.5% on hopes that improving Chinese trade data would translate into more orders in the longer term.

China said on Thursday its exports grew 14.1% in December from a year ago to hit a seven-month peak, handsomely beating market expectations of a 4% rise.

“Shipping related stocks are in play because of the good Chinese trade data. With better trade, shipping could improve, which could in turn benefit the shipbuilders,” said a local trader.

Yangzijiang shares climbed 5.1% to $1.135, while rival Cosco Corp (Singapore) was up 5.1% at $1.035. Both were the third and fourth most actively traded stocks by value.

Container shipping firm Neptune Orient Lines gained 0.4%, extending Thursday's 7% gains. Hutchison Port Holdings Trust, which operates ports in China, rose 3% to $0.845.

icy97

Yangzijiang falls after announcing warrants issue plan
http://www.theedgesingapore.com/the-daily-edge/business/42307-yangzijiang-falls-after-announcing-warrants-issue-plan.html

Wed, 16 Jan 13:25
Shares in Yangzijiang Shipbuilding (Holdings) fell 7.7% to a one-week low on Wednesday on concerns over the potential dilution of its stock after it announced plans to issue $20 million worth of warrants.

By 9:55 a.m., Yangzijiang shares were at $1.015, with 48.9 million shares traded, 1.2 times its average daily volume over the last five sessions.

Yangzijiang said it plans to sell 330 million warrants at $0.0605 a piece, and each will carry the right to subscribe to one new share at 7.617 yuan ($1.51).  

“There is some uncertainty over why the company is raising funds. It’s not a large amount they are getting and the exercise price of the warrant is also quite high considering their share price today,” said a local trader.

johnlai

我想请问認股權證对yangzijiang的股是好是坏又会不会影响我们这些小股民，请各位大大回复，谢谢…
@franklyss
@jackphang
@tonytan8888
@zhixuen

平凡世代

For those still hazy about YZJ warrants, summary is as follows (courtesy of DBSV)

Issuance of 330m warrants. Yangzijiang proposed to issue an aggregate of 330m warrants at an issue price of RMB0.3072 (S$0.0605). Each warrant carries the right to subscribe for one new ordinary share at the strike price of RMB7.617 (S$1.50) by 29 Apr 2016.

Placement to institutional investors. Citigroup is the placement manager and warrants will be offered to institutional investors and accredited investors. The warrants will not be listed on stock exchanges.Net proceeds from warrant issuance will be RMB92.17m or S$18.15m. Potential net proceeds from the full exercise of warrants will be RMB2.5bn or S$495m.

Net proceeds from warrant issuance will be RMB92.17m or S$18.15m. Potential net proceeds from the full exercise of warrants will be RMB2.5bn or S$495m.

Rationale. As explained in the announcement, the proceeds will be used to strengthen working capital and enhance capital base for future market expansion and development opportunities when shipbuilding industry recovers.

No urgent funding needs. Yangzijiang is one of the most well run yards in China with superb cost and cash management. As of end Sept 2012, Yangzijiang was in net cash position. It sat on cash (RMB3.4bn) and restricted cash (RMB5.3) of RMB8.7bn. While total borrowings amounted to RMB8.6bn, the company has invested RMB9.8bn in financial products (of which RMB7.7bn is short term investment).

Aren’t there better financing option? We believe this may be part of management's effort to enhance company's flexibility to raise money if the shipbuilding industry recovers in 2-3 years’ time. Working capital requirement is higher as Yangzijiang moves into offshore and large size containership with lower payment term of 20:80. However, we find funding via equity issue less favourable given the dilutive effect. Yangzijiang could well pare down its investment in financing products and explore cheaper financing in the debt market given its net cash position at this juncture.

Near term dilution risk is low. In the event of full conversion by 2016, maximum dilution will be 7.9%. Exercise price of S$1.50 is much higher than our 12-month TP of S$1.20, representing a 36.4% premium over the last traded price of S$1.10 on 15 Jan. Hence, the risk of dilution should be low in the near term.

Downgrade to HOLD. Yangzijiang’s share price has risen 15% in the past two weeks amidst positive sentiment on China economic recovery and reduced risk premium. Current valuation is fair at 1.2x FY13 P/Bv on the back of dwindling ROE from 26% in FY12E to 11% by FY14F. PE will rise to 10x in FY14 as earnings are expected to fall by 37% yoy.

Downgrade to HOLD in the light of declining earnings and yield amidst a prolonged sector downturn. Downside risk to our order win assumption post results prevails. TP is unchanged at S$1.20 as the warrants are out-of-the money.

http://www.puntersgallery.com/showthread.php?p=662351

平凡世代

其实应该说是好消息，
只是不知道为什么会下这样多

johnlai

唉…仲以为可以升到自己的价位，吊他老味啲投资者炒炒吓就放，可怜我地啲散戶

tonytan8888

2013年 01月 16日 16:40
中国造船企业进军海上能源生产用船领域

http://cn.wsj.com/gb/20130116/rec164206.asp?source=Billingual

tonytan8888

扬子江船业集团董事长任元林说：造船为航运，只要大海不干，就有航运，就有造船需求。

http://info.china.alibaba.com/detail/1094277991.html