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by: Tam Ging Wien
– Thin Margins for Core Ship Building Business, Resorting to Lending to Stay Profitable?
We present here an interesting observation of Yangzijiang’s (YZJ) business modal. We noticed that Yangzijiang appears to have made profits as a result of profiting from “Interest Income” through micro-financing and lending by buying bonds.
But YZJ is a ship-building company! What do you mean lending business? Clearly, their revenues and profits are coming from ship construction! Well… yes and no. Let us elaborate.