Yangzijiang Shipbuilding came under selling pressure today after a fall in profit.
Singapore-listed Yangzijiang saw its second quarter bottom line sag by 60% to CNY 415.4m.
It came as revenue was cut almost in half to CNY 3bn at a difficult time for global shipbuilders.
“While we were not immune from the wave of order cancellation on the market, Yangzijiang’s reputation, vessel quality and client network have enabled us to arrange for the resale of most of the vessels whose orders were terminated earlier, and minimize the impact,” it told investors.
