SINGAPORE – Media OutReach – 12 August 2023 – Yangzijiang Financial Holding Ltd. (SGX:YF8) reported an impressive first half of 2023, with total income soaring 14.2% year-on-year to S$198.4 million and net profit to equity holders of the Company increasing 19.2% to S$162.5 million. This was bolstered by a net gain of S$34.5 million in fair value of financial assets as compared to a S$19.0 million fair value loss in the first half of 2022. Diluted earnings per share (EPS) also skyrocketed 27.2% to SGD4.39 cents in 1H2023 compared to SGD3.45 cents in 1H2022, partly due to a 6.2% year-on-year decline in the weighted average number of ordinary shares outstanding to 3.65 billion shares.
The Group’s Maritime Fund, which has since been enlarged from US$500 million to US$600 million, has closed 12 deals, committed an amount of US$173.8 million, and invested US$109.3 million, achieving an internal rate of return (IRR) of 16.4% and return on equity (ROE) of 17.7%.
CEO Vincent Toe commented: “The Group’s international portfolio has gotten off to a great start and we are currently reaping the rewards of our investments. Our diversified set-up for this portfolio, currently spanning across 4 different asset types, is designed to reduce portfolio volatility while still achieving strong returns for all our stakeholders in the long-run.”
Executive Chairman Ren Yuanlin added: “We are confident that our strong financial position in a volatile market will enable us to capitalise on suitable investment opportunities as and when they arise, both within and beyond China.”Hashtag: #maritime #shipbuilding #SGX #mainboard
The issuer is solely responsible for the content of this announcement.
Yangzijiang Financial Holdings
Yangzijiang Financial Holding Ltd. is a Singapore-incorporated company that specializes in investment management, wealth management services, and fund management.
Source link
This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.
