Yangzijiang

Yangzijiang: Following a steep slide in its share price, YZJ has issued a statement highlighting:
1) There are currently has no convertible bond financing plan in the pipeline
2) New opportunities for Asia shipowners have enabled the group to diversify its customer portfolio away from European based customers, which constitutes some 70% of its revenue. It reassures that existing Euro customers are long term clients with strong financial standing & payment record.
3) Group is on track to meet its delivery target of 65 vessels in 2011 vs 50 in 2010. Guides net profit growth of at least 30% for 1H11 (1Q11: +31%) in upcoming results due 11 Aug.
4) Company may implement share buyback if share price continues to fall.