On February 25th, Yangzijiang Shipbuilding (Holdings) Co., Ltd. officially released its 2025 annual financial report. The report shows that as of December 31, 2025, Yangzijiang Shipbuilding's operating revenue increased by 7.4% year-on-year to approximately 28.5 billion yuan; its net profit rose by 30.2% compared to the same period last year, reaching about 8.6 billion yuan. Both revenue and net profit reached record highs, presenting an outstanding business performance.
Yangzijiang Shipbuilding's shipbuilding business revenue in 2025 / Source: Yangzijiang Shipbuilding 2025 Annual Report
The report states that Yangzijiang Shipbuilding's 2025 business performance was mainly attributed to the significant growth of its core shipbuilding business. In 2025, the company's shipbuilding business revenue was approximately 26.8 billion yuan, an increase of 6.4% year-on-year, accounting for about 94% of the company's total revenue. Moreover, the gross profit margin of the shipbuilding business increased by 7.3 percentage points. This was mainly due to the increase in new ship prices, favorable changes in raw material costs, and the smooth progress of new shipbuilding contracts during the reporting period.
In 2025, Yangzijiang Shipbuilding delivered a total of 56 ships of various types, fully achieving its scheduled delivery targets. These included 28 container ships, 7 bulk carriers, 3 gas carriers, and 18 oil tankers/chemical tankers. In 2025, Yangzijiang Shipbuilding received new orders for 60 ships, valued at 2.5 billion US dollars. Approximately 80% of these orders were signed in the second half of 2025, including 44 container ships, 14 bulk carriers, and 2 gas carriers. The new orders for the year mainly included 9 1,100 TEU container ships, 10 1,700 TEU container ships, 5 1,800 TEU container ships, 6 2,900 TEU container ships, 4 3,000 TEU container ships, 4 3,100 TEU container ships, 2 4,300 TEU container ships, 2 4,488 TEU container ships, and 2 11,800 TEU container ships; 8 71,000 deadweight ton bulk carriers and 6 83,000 deadweight ton bulk carriers; and 2 40,000 cubic meter liquefied petroleum gas (LPG) carriers.
As of December 31, 2025, Yangzijiang Shipbuilding had 245 ships on order, valued at approximately 22.39 billion US dollars, with the latest delivery date scheduled for 2030. Among them, orders for green ships accounted for about 71% of the total order value. In terms of specific ship types, orders for container ships reached 130 ships, with a corrected gross tonnage of 5.78 million, and a contract value of 16.06 billion US dollars, including various green ship types such as methanol dual-fuel and liquefied natural gas (LNG) dual-fuel, covering all specifications from 1,100 to 24,000 TEU. Orders for oil tankers reached 40 ships, with a corrected gross tonnage of 1.06 million, and a value of 2.03 billion US dollars; orders for bulk carriers reached 49 ships, with a corrected gross tonnage of 1.07 million, and a value of 1.94 billion US dollars. Additionally, orders for various gas carriers reached 26 ships, with a corrected gross tonnage of 0.68 million, and a value of 2.36 billion US dollars.
The report also disclosed that the Yangzijiang Hongyuan project is progressing steadily and is expected to be completed in 2026. Steel processing and other preliminary shipbuilding operations have already started in the first quarter of 2026. Relying on this capacity expansion plan and maintaining a cautiously optimistic attitude towards the industry outlook, Yangzijiang Shipbuilding has set a new order target of 4.5 billion yuan for 2026. Ren Letian, Chairman and CEO of Yangzijiang Shipbuilding, stated that in 2025, against the backdrop of a recovering order momentum, the group remained focused on the timely delivery and quality manufacturing of ships, closely tracking market developments. This year, the group will continue to adhere to the principles of prudence and marketization to expand new orders, with a focus on securing remaining delivery slots for 2029 and gradually opening up slots for 2030. At the same time, the group will orderly advance the on-time and quality delivery of ongoing projects and convert its order backlog into actual profits.