Singapore-listed Yangzijiang, which has been criticized in the past for its diversification, has raised the bulk of the cash from the sale of its 50% stake in Wujiang Jinke Yangzi Real Estate Development.

It tells investors its shares in the company have been cashed in for CNY 200m ($32.22m).

A further CNY 10m has been secured for the shipbuilder’s 100% holding in metals trader Jiangsu Leyuan Innovation International.