SGX:YF8.SI:Yangzijiang Financial
SGX:BS6.SI:Yangzijiang Shipbuilding
SGX:YMD.SI:YZJ Maritime Development
Singapore’s investment community is bracing for the debut of YZJ Maritime Development on Nov 18 on the Singapore Exchange (SGX). The new listing marks another chapter in the Yangzijiang Group’s evolution. The company, spun off from Yangzijiang Financial (SGX:YF8.SI)—itself a 2022 spin-off from Yangzijiang Shipbuilding (SGX:BS6.SI)—manages vessel investments, finance leases, and shipping loans. The firm raised S$5.2 million in a private placement valuing it at over S$2 billion, backed by SAC Capital and China International Capital Corporation.
YZJ Maritime reported a net asset value of US$1.57 billion and H1 2025 earnings of US$63.54 million, slightly lower than the US$68.91 million recorded in H1 2024. Executive chairman and CEO Ren Yuanlin—also the largest shareholder of the YZJ group—will helm the new entity after stepping down from YZJ Financial on Oct 31. Liu Hua and Peng Xingkui will now lead YZJ Financial, while Ren Letian, Ren’s son, remains CEO of YZJ Shipbuilding.
SGX:YF8.SI:Yangzijiang Financial
SGX:BS6.SI:Yangzijiang Shipbuilding
SGX:D05.SI:DBS Group
Yangzijiang Shipbuilding, a component of the Straits Times Index (STI), holds a market cap of S$13.11 billion. Analysts from DBS Group (SGX:D05.SI) call it China’s best-managed private shipbuilder, boasting a 10% cost advantage. Its shares soared 40.1% over the past year, outpacing the STI’s 29.5% return. Meanwhile, Yangzijiang Financial—valued at S$3.65 billion and on the STI reserve list—delivered a staggering 175.6% return over the same period, powered by the maritime spin-off announcement.
YZJ Financial, trading near its S$1.11 per-share NAV, now plans to resolve its S$696.7 million in distressed real estate debt through judicial auctions. It also recently became an anchor investor in a S$100 million mid-cap fund and led a 1.02 billion yuan investment to acquire a 23.36% stake in Ningbo Shanshan Co., a Shanghai-listed lithium battery leader. Ren Yuanlin emphasized that YZJ’s Singapore-China presence allows it to deploy capital efficiently for sustainable shareholder returns.
SGX:C31.SI:CapitaLand Investment
SGX:M44U.SI:Mapletree Investments
SGX:F9D.SI:Boustead Singapore
SGX:AVM.SI:Boustead Projects
Singapore’s corporate spin-off trend offers relevant context. CapitaLand Investment (SGX:C31.SI) famously listed and later privatized CapitaMalls Asia, then restructured in 2021, spinning off property development while keeping its management arm listed. CapitaLand and Mapletree Investments (SGX:M44U.SI) are reportedly exploring a merger. Meanwhile, Boustead Singapore (SGX:F9D.SI) listed Boustead Projects (SGX:AVM.SI) in 2015, took it private in 2023, and is now forming a REIT through UIB Holdings, worth about S$1.9 billion.
For Yangzijiang Financial and YZJ Maritime, timing seems ideal—Singapore’s buoyant market offers fertile ground to unlock value. Yet, sustaining investor confidence will depend on consistent delivery of shareholder returns as the YZJ family fleet continues to expand.
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