After the market closed on Thursday (22nd), Yangzijiang Ship Industry released a business report that it received a total of six ship orders in the first quarter of this year, with a total value of US$387 million (S$387 million), which only accounts for about 5% of the annual order acceptance target of US$6 billion in fiscal 2025.
CEO Ren Lotte said that due to US policies and global tariff measures, customers are taking a wait-and-see attitude and postponing order decisions. But he also emphasized that ship delivery is still going smoothly and there are no order delays or cancellations.
So far, the company has completed 38% of the annual delivery target, that is, 21 of the 56 targets have been delivered, and it is expected to achieve the delivery target for fiscal year 2025.
Ship orders were worse than expected. As of 11 a.m. on Friday (May 23), Yangzijiang Shipbuilding's share price fell 4.21% to 2.05 yuan, the largest drop in the whole market.