Yangzijiang's net profit slipped 12% to $150.5m in Q1
Due to the subdued shipbuilding market.
Chinese shipbuilder Yangzijiang reported that its net profit declined 12% year-on-year to $150.5m (RMB 706.9m) in the first quarter.
Yanzijiang's overall revenue declined 14% year-on-year to $647.5m (RMB3.04b) due to the weak shipnuilding market.
Yanzijiang's shipbuilding margin stood at 21% in the first quarter, down from 24% in the same quarter last year.