Today, YZJ's share price increase 5% to $2.20 with 35 Billion shares traded, this volume is more than 3 times its average vol for the past month.
MACD breakout for the first time since listed in Feb, which might signal the start of a surge. OBV continue to show constant uptrent.
Q1 net profit attributable to shareholders double to 183.5M yuan from 80.9M yuan. Revenue swelled to 909.1M yuan from 441.4M yuan.
Short term target price $2.35, with a longer term tgt of $2.70 in the next few months.
Important Information
YZJ is the 4th largest shipyard in China.
Beijing has stated its ambition to make China the largest shipbuilder in the world within 2 years, and Guangzhou Shipyard is currently the only listed Chinese company in that industry.
China is the world's 3rd-biggest builder of ships, behind South Korea and Japan. Yangzijiang has placed out a total of 27.4 m shares to UBS AG's funds and 16.1 m shares to Aranda Investments (Temasek Holdings).
During its IPO, warrents are already being issue. This is the first time in recent years that such confident is shown on an IPO stock in Singapore.
Disclaimer
Disclaimer: All shares recommendations in this Blog are my personal opinion. Readers are encouraged to do their own research before investing. Remember, it’s your own money! I will not be liable for any losses incurred.
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