On August 6, 2026, Yangzijiang Shipbuilding Group released its “First Half of 2026 Financial Results Report.” In the first half of 2026, Yangzijiang Shipbuilding secured 38 new orders with a total value of US$1.75 billion (approximately RMB 11.8 billion); delivered 27 vessels, achieving 47% of the annual delivery target of 58 vessels; realized operating revenue of RMB 17.5 billion, a year-on-year increase of 36.2%; and achieved net profit of RMB 5.4 billion, a year-on-year increase of 28.4%.
As of June 30, 2026, Yangzijiang Shipbuilding’s order book totaled 256 vessels (8.67 million CGT) with an order value of approximately US$22.4 billion (approximately RMB 151.2 billion), with the furthest delivery schedule extending to 2030. The order book features a diverse vessel mix, with container ships, tankers, bulk carriers, and gas carriers numbering 151, 41, 37, and 27 vessels respectively.
In terms of revenue, in the first half of 2026, Yangzijiang Shipbuilding’s operating revenue and profitability both reached record highs. Benefiting from the strong growth of the Group’s shipbuilding business, it realized operating revenue of RMB 17.5 billion during the reporting period, a year-on-year increase of 36.2%, with the core shipbuilding business accounting for approximately 94% of total revenue in the first half of the year; gross profit of RMB 6.3 billion, a year-on-year increase of 42.8%; and net profit of RMB 5.4 billion, a year-on-year increase of 28.4%.
Specifically, Yangzijiang Shipbuilding’s shipbuilding business achieved operating revenue of RMB 16.5 billion in the first half of 2026, a year-on-year increase of 34.8% (from RMB 12.2 billion), attributable to the successive commencement of new vessel projects contracted at higher prices in the earlier period, as well as the gradual optimization of the product mix including ultra-large container /ultra-large ethane carriers. Yangzijiang Shipbuilding noted that the commissioning of Yangzi Hongyuan was another factor contributing to the growth in shipbuilding revenue during the reporting period, with the shipyard confirming operating revenue of RMB 545 million in the second quarter of 2026.
In terms of the shipping business, Yangzijiang Shipbuilding realized operating revenue of RMB 585.4 million during the reporting period, a year-on-year increase of 14.5%, attributable to higher charter rates; gross profit of RMB 205.4 million, a year-on-year increase of 57.4%; and a gross margin of 35.1%, an increase of 9.6 percentage points year-on-year.
The specific data are as follows:
Order Book | 256 vessels / valued at US$22.4 billion
According to the results report, as of June 30, 2026, Yangzijiang Shipbuilding had an order book of 256 vessels with a total value of US$22.4 billion, with delivery schedules spanning from 2026 to 2030, and container ships accounting for the largest share of orders. By vessel type:
Container ship orders total 151 vessels (6.04 million CGT) valued at US$16.48 billion, including: 9 24,000TEU LNG dual-fuel container ships, 28 17,000TEU LNG dual-fuel container ships, 6 13,000TEU LNG dual-fuel container ships, 10 9,000TEU LNG dual-fuel container ships, 11 13,000TEU methanol dual-fuel container ships, 9 9,000TEU methanol dual-fuel container ships, 2 11,800TEU container ships, 7 8,000TEU container ships, 7 5,900TEU container ships, 2 4,488TEU container ships, 4 4,300TEU container ships, 4 3,100TEU container ships, 4 3,000TEU container ships, 6 2,900TEU container ships, 8 1,900TEU container ships, 5 1,800TEU container ships, 10 1,700TEU container ships, and 19 1,100TEU container ships.
Tanker orders total 41 vessels (1.1 million CGT) valued at US$2.09 billion, including 4 39,000 DWT MR product tankers, 3 40,000 DWT MR product tankers, 12 50,000 DWT MR product tankers, 4 74,000 DWT LR1 product tankers, and 18 75,000 DWT LR1 product tankers.
Gas /VLAC orders total 27 vessels (700,000 CGT) valued at US$2.42 billion, including 3 25,000 cubic meter LPG carriers, 12 40,000 cubic meter LPG carriers, 2 48,000 cubic meter LPG carriers, 6 88,000 cubic meter VLACs, and 4 100,000 cubic meter VLECs.
Bulk carrier orders total 37 vessels (830,000 CGT) valued at US$1.41 billion, including 1 32,000 DWT bulk carrier, 3 45,000 DWT bulk carriers, 8 71,000 DWT bulk carriers, 1 80,000 DWT bulk carrier, 14 82,500 DWT bulk carriers, 9 83,000 DWT bulk carriers, and 1 Combination 83,300 DWT bulk carrier.
New Orders in Half Year | 38 vessels / valued at US$1.75 billion
In the first half of 2026, Yangzijiang Shipbuilding secured a total of 38 new vessel orders with a total value of US$1.75 billion, including 25 container ships, 10 tankers, 2 gas carriers, and 1 bulk carrier.
The 25 container ships include: 10 1,100TEU container ships, 8 1,900TEU container ships, and 7 5,900TEU container ships; the 10 tankers include: 6 50,000 DWT MR product tankers and 4 75,000 DWT LR1 product tankers; 1 83,000 DWT bulk carrier and 2 88,000 cubic meter VLACs.
Additionally, in July 2026, Yangzijiang Shipbuilding secured another US$200 million in new vessel orders, including 2 50,000 DWT MR product tankers and 2 75,000 DWT LR1 product tankers.
Yangzijiang Shipbuilding stated that delivery slots for 2029 are nearly fully booked, and delivery slots for 2030 have begun accepting orders. At present, multiple potential order negotiations are progressing in an orderly manner, laying a solid foundation for achieving the US$4.5 billion order intake target for fiscal year 2026, and the Group remains optimistic about achieving its annual order intake target.
Half-Year Deliveries | 27 vessels
During the reporting period, Yangzijiang Shipbuilding delivered a total of 27 vessels, including 4 container ships, 13 bulk carriers, 1 gas carrier, and 9 tankers. In 2026, Yangzijiang Shipbuilding plans to deliver 58 vessels for the full year, with first-half deliveries accounting for approximately 47%.
In the shipping business, in the first half of 2026, Yangzijiang Shipbuilding sold a total of 6 vessels (3 92,500 DWT bulk carriers, 2 52,000 DWT bulk carriers, and 1 1,800TEU container ship) and added 1 82,000 DWT bulk carrier.
As of the end of June, Yangzijiang Shipbuilding operated a total of 28 vessels with an average vessel age of 9 years and total capacity of 1,858,800 DWT, including 25 bulk carriers, 2 stainless steel chemical tankers, and 1 multipurpose vessel.
Looking ahead, Yangzijiang Shipbuilding stated that it will continue to uphold its prudent business philosophy, closely follow the development trends of greenization and intelligentization, and deepen its focus on high-end ship manufacturing as its core business. With the smooth commissioning of Yangzi Hongyuan and the gradual advancement of Yangzi Hongda’s construction, the business structure and production capacity layout will be further optimized and released. The Group will strictly enforce product quality control, uphold the bottom line of contract performance, ensure timely vessel deliveries, continuously improve operational efficiency and profitability quality, and make every effort to promote high-quality sustainable development of the enterprise, creating greater value for all shareholders.
