Yangzijiang Financial H1 net profit up 28% at S$137.7 million
This was largely driven by the reversal of credit loss allowances; higher contributions from the maritime joint ventures; and net foreign exchange gains, the investment management company said in a bourse filing on Tuesday (Aug 12).
Earnings per share stood at S$0.0396 for the half-year period, up from S$0.0304 the previous year.
Total income for H1 fell 23 per cent to S$123.6 million, from S$161.4 million, primarily due to lower interest income as a result of a pre-planned reduction in China debt exposure.
This was partially offset by stronger contributions from maritime investments and Singapore-based private credit and cash management funds, the company said.
No dividend was declared for the half year, same as the year before.
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Over the next 12 months, the company said it will focus on advancing the proposed spin-off listing of its maritime investment business .
Ren Yuanlin, chief executive and executive chairman of Yangzijiang Financial, said the spin-off is a 'timely move' to streamline its structure and sharpen strategic focus.
Following the spin-off, the remaining group will continue to develop its core investment management and fund management segments, it said.
In the near term, it will improve liquidity through the divestment of underperforming onshore assets, particularly in China real estate debt, while corresponding proceeds will be redeployed towards a more balanced domestic-offshore investment mix.
In the longer-term, the company plans to deepen its presence in South-east Asia through debt investments in Indonesia, Vietnam, Malaysia and the Philippines.
The company is also boosting its fund management capabilities in Singapore, which includes applying for a capital markets services licence.
Total assets under management stood at S$4 billion as at Jun 30, 2025, from S$4.2 billion as at Dec 31, 2024, as the company continued its portfolio reallocation strategy to focus on fund management in South-east Asia and maritime investments.
Shares of Yangzijiang Financial closed S$0.015 or 1.5 per cent higher at S$0.99 on Tuesday, before the results were released.
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