SINGAPORE – Media OutReach – August 12, 2023 – Yangzijiang Financial Holding Ltd. (SGX:YF8) delivered an impressive first half of 2023, with total revenue up 14.2% year-on-year to S$198.4 million and net profit to company shareholders up 19 .2% to reach S$162.5 million. This was reinforced by a net gain of S$34.5 million in the fair value of financial assets, compared to a fair value loss of S$19.0 million in the first half of 2022. Diluted earnings per share (EPS ) also soared 27.2% to SGD 4.39 cents. in HY2023 from SGD 3.45 cents in HY2022, partly due to a 6.2% year-on-year decline in the weighted average number of ordinary shares outstanding to 3.65 billion shares .
The Group’s Marine Fund, which has since been expanded from $500 million to $600 million, completed 12 transactions, committed $173.8 million and invested $109.3 million, reaching a rate of internal return (IRR) of 16.4% and a return on equity (ROE) of 17.7%.
CEO Vincent Toe commented: “The Group’s international portfolio is off to an excellent start and we are now reaping the benefits of our investments. Our diversified setup for this portfolio, currently covering 4 different asset types, is designed to reduce portfolio volatility while delivering strong returns for all of our long-term stakeholders.
Executive Chairman Ren Yuanlin added, “We are confident that our strong financial position in a volatile market will allow us to capitalize on suitable investment opportunities as they arise, both in China and beyond.
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