Yangzijiang Financial’s net profit sinks 33.9% in H1 2024

Total income for the period also declined 21.7%.

Yangzijiang Financial reported a 33.9% year-on-year (YoY) decrease in net profit to $107.4m in H1 2024 from $162.5m a year ago.

Total income for the period declined 21.7% YoY to $161.4m from $206m in H1 2024.

This decline was due to the lower interest income of $106.7m, down from $151.6m in H1 2023, as a result of reduced debt investments in China and increased cash and yield enhancement products.

In the mid-term, the company plans to invest up to $900m in maritime assets. As of the end of the review period, $325m has been invested in deals involving 50 vessels worldwide.

Earnings per share stood at $0.0304.

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