Yangzijiang

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16 Aug 2019 10:05 - 16 Aug 2019 10:06 #24960 by Poh
Yangzijiang was created by Poh
Our Thoughts (DBS Research)

Reiterate BUY; Target Price unchanged at S$1.82.

The clarification should alleviate some concerns over the shipyard’s involvement in the investigation. Day-to-day operations seem unaffected at this juncture. CEO Mr Ren Letian is capable to run the company given that he had been rotated to manage various divisions of the shipyard for nearly 10 years prior to his appointment as CEO in Mar-2015.

Order win momentum, which was expected to pick up strongly over the next few months, would be crucial, serving as a confidence booster on the yard’s operations and ability to win new contracts.

Chairman’s assistance in the investigation could remain an overhang and cause volatility in share price until the dust settles. Having said that, share price decline appears overdone with 25% plunge over 2 days, considering yards’ non-involvement in the investigation as well as intact operations and fundamentals of the group at this point.
Last edit: 16 Aug 2019 10:06 by Poh.

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18 Aug 2019 22:23 #24961 by Poh
Replied by Poh on topic Yangzijiang
Another "rumour" and the share price got hammered but YZJ has launched share buyback. Let's see if company would be buying more on Monday and over the week. Their broker must be very happy! YZJ did 10 buybacks in 2018 , only 1 so far in 2019.

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22 Aug 2019 16:11 - 22 Aug 2019 16:16 #24973 by Poh
Replied by Poh on topic Yangzijiang
YZJ bought another 2,000,000 shares this morning. 94.5-95 cents.
Last edit: 22 Aug 2019 16:16 by Poh.

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25 Aug 2019 09:14 #24980 by Garak
Replied by Garak on topic Yangzijiang
Share price 91.5 cents is now below the company's net cash level (including financial assets) of 95 cents. No value given to its shipyard assets, its business and its prospects. Hmm....

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26 Aug 2019 18:14 #24982 by Garak
Replied by Garak on topic Yangzijiang
Co. bought back 1,000,000 shares today 94.5-95 cents.
total bought back 13,000,000 !!!

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02 Sep 2019 18:25 #24993 by Garak
Replied by Garak on topic Yangzijiang
The buyback continues steadily. To date, YZJ has bought back 21,000,000 shares!

links.sgx.com/1.0.0/corporate-announceme...687#.NextInsight.net

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