Earnings VisibilityYZJ's recent announcement of US$0.92b in new orders is incrementally bullish, boosting earnings visibility into 2027-28.
Gross MarginYZJSB's 1H25 shipbuilding gross margin of 35% surprised on the upside, thanks to lower steel costs.
Order BacklogRecord-high order backlog boosts earnings visibility through 2027, with the orderbook expected to propel earnings growth driven by revenue growth and margin expansion.