Singapore-listed Yangzijiang posted full year net profit of RMB4.01bn ($635.73m), an increase of 36% from RMB2.95bn in 2010. Revenue also rose 16% to RMB15.71bn from RMB13.56bn.
The yard delivered 62 vessels in 2011 as compared to 50 vessels delivered in 2010, allowing the company to achieve record revenue from shipbuilding segment of RMB14.61m last year.
The increase in revenue was also driven by increased amount of investment in held-to-maturity financial assets and growth of micro financing business.
“Our aim since a while has been to transform the group to an integrated marine group with diversified revenue streams so as to strengthen the businesses for sustainable growth,” said Ren Yuan Lin, executive chairman at Yangzijiang.
As at 31 December 2011, Yangzijiang's orderbook stood at 10 vessels with $4.7bn. In addition, it has secured seven new contracts with an aggregate contract value of $206.2m since the beginning of 2012.
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