证券代码：600150 证券简称：中国船舶 公告编号：2025-030 中国船舶工业股份有限公司 中国船舶工业股份有限公司（以下简称"中国船舶"、"公司"）拟 向中国船舶重工股份有限公司（以下简称"中国重工"）全体换股股东 发行 A 股股票的方式换股吸收合并中国重工（以下简称"本次交易"）， 中国船舶为吸收合并方，中国重工为被吸收合并方。 2025 年 5 月 8 日，公司收到上海证券交易所（以下简称"上交所"） 出具的《关于受理中国船舶工业股份有限公司发行股份购买资产申请的 通知》（上证上审（并购重组）〔2025〕29 号）。上交所依据相关规定对 申请文件进行了核对，认为申请文件齐备，符合法定形式，决定予以受 理并依法进行审核。 本次交易尚需上交所审核通过，并经中国证券监督管理委员会予以 注册及相关法律法规所要求的其他可能涉及的必要批准、核准、备案或 许可（如需）后方可正式实施，能否实施尚存在不确定性，有关信息均 以公司指定信息披露媒体发布的公告为准。敬请广大投资者关注后续公 告并注意投资风险。 特此公告。 中国船舶工业股份有限公司董事会 1 关于重大资产重组事项相关申请获得受理的公告 本公司董事会及全体董 ...

Group 1 - The China Securities Military Industry Index (399967) has shown a strong increase of 4.24% as of May 7, 2025, with notable gains in constituent stocks such as AVIC Chengfei (302132) reaching a 20% limit up, and Zhongyun Drone (688297) rising by 16.37% [1] - The leading military ETF (512680) has also increased by 4.23%, marking its third consecutive rise, with a trading volume of 87.04 million yuan and a turnover rate of 2.31% [1] - The latest scale of the military ETF has reached 3.686 billion yuan, a new high for the year, with the latest share count at 3.544 billion, also a six-month high [1] Group 2 - The top ten weighted stocks in the China Securities Military Industry Index as of April 30, 2025, include China Shipbuilding (600150) and Guoke Technology (002625), accounting for a total of 37.03% of the index [2] - Positive signals have emerged in the military sector since 2024, with expectations of increased contract announcements and related transaction amounts in 2025, indicating a recovery in the military fundamentals [2] - According to GF Securities, the EU's defense industrial strategy is shifting towards self-sufficiency, aiming for 50% of defense equipment procurement to be sourced internally by 2030, which may benefit qualified Chinese companies with production capacity [2]

证券代码：600150 证券简称：中国船舶 公告编号：2025-029 中国船舶工业股份有限公司 关于聘任公司董事会秘书的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中国船舶工业股份有限公司（以下简称"公司"）于 2025 年 5 月 6 日召开第八届董事会第二十七次会议，审议通过了《关于聘任公司董事会 秘书的议案》，现将有关情况公告如下： 根据《公司法》《公司章程》的有关规定，经履行董事会秘书有关提 名程序、董事会提名委员会审核，董事会同意聘任王洁女士为公司董事会 秘书，任期自公司本次董事会审议通过之日起至第八届董事会届满之日止 （简历附后）。 鉴于王洁女士尚未取得上海证券交易所董事会秘书资格证书，其已预 报名参加上海证券交易所最近一期董事会秘书任职培训，待取得上海证券 交易所颁发的董事会秘书资格证书并经上海证券交易所备案无异议后，聘 任正式生效。由于王洁女士亦为本公司总会计师，在聘任正式生效前，董 事会特别指定王洁女士代行公司董事会秘书职责。 截至本公告披露日，王洁女士未持有公司股份，与公司控股股东、实 际控制人 ...

辞职后，陶健先生将不再担任公司任何职务。陶健先生确认与公司董 事会之间无任何意见分歧，亦无任何与辞职有关的事项须提请公司股东注 意。 根据《公司法》及本公司《公司章程》等有关规定，陶健先生的辞呈 自送达本公司董事会之日起生效。陶健先生的辞职不会影响公司董事会依 法规范运作，也不会影响公司正常的经营发展。 公司董事会对陶健先生在本公司任职期间，为公司经营发展、规范治 理等方面做出的贡献深表感谢。 特此公告。 中国船舶工业股份有限公司董事会 证券代码：600150 证券简称：中国船舶 公告编号：2025-027 中国船舶工业股份有限公司 关于副总经理兼董事会秘书辞职的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中国船舶工业股份有限公司（以下简称"公司"）于近日收到公司副 总经理兼董事会秘书陶健先生递交的书面辞呈。陶健先生因退休原因，向 公司提出辞去其所担任的副总经理兼董事会秘书职务。 2025 年 5 月 7 日 ...

证券代码：600150 证券简称：中国船舶 公告编号：2025-028 中国船舶工业股份有限公司 第八届董事会第二十七次会议决议公告 聘任王洁女士担任本公司董事会秘书，任期至第八届董事会届满。具 体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的《关 于聘任公司董事会秘书的公告》（公告编号：2025-029）。 会前，本议案已经第八届董事会提名委员会第四次会议审议通过。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 特此公告。 中国船舶工业股份有限公司董事会 2025 年 5 月 7 日 1 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中国船舶工业股份有限公司（以下简称"公司"）第八届董事会第二 十七次会议于 2025 年 5 月 6 日以通讯方式召开，董事会会议通知和材料 于 2025 年 4 月 30 日以电子邮件等方式发出。本次会议应参加表决董事 10 名，实参加表决董事 9 名。因工作原因，公司董事长盛纪纲先生未能 出席会议。根据有关法律、法规、规范性文件及《公司章程》的相关规定， ...

Core Insights - The company reported a revenue of 78.584 billion yuan in 2024, a year-on-year increase of 5.01%, and a net profit attributable to shareholders of 3.614 billion yuan, up 22.21% [1] - In Q1 2025, the company achieved a revenue of 15.858 billion yuan, a year-on-year increase of 3.85%, and a net profit of 1.127 billion yuan, significantly up by 180.99% compared to the previous year [1] Financial Performance - The company's gross profit margin for its main business reached 9.94% in 2024, an increase of 0.43 percentage points year-on-year, with the shipbuilding and marine engineering segment's margin at 9.57%, up 0.29 percentage points [2] - In Q1 2025, the gross profit margin surged to 12.84%, a substantial increase of 6.16 percentage points year-on-year [2] - The growth in performance is attributed to an increase in the volume and price of ships delivered in 2024, alongside improvements in production efficiency through smart manufacturing and lean management [2] Order and Delivery Performance - In 2024, the company signed 154 new ship orders totaling 1,039 billion yuan, an increase of 26 orders year-on-year, and delivered 93 ships, completing 112.74% of its annual tonnage target [3] - The company had a backlog of 322 ship orders by the end of 2024, with a total weight of 24.6107 million tons and a value of 216.962 billion yuan, indicating a strong order book extending production schedules to 2028 [3] Industry Outlook - The shipbuilding industry is experiencing a continuous supply-demand gap, with China's shipbuilding completion volume in 2024 reaching 50.7631 million tons, a year-on-year increase of 9.63%, and new ship orders rising by 62.38% [4] - The demand for green ships is increasing, driven by environmental requirements, with the proportion of green ship orders on the rise [4] - The company is expected to benefit from synergies following the merger with China Shipbuilding Industry Corporation, leading to improved efficiency and accelerated deliveries, with projected net profits of 7.35 billion yuan and 10.08 billion yuan for 2025 and 2026, respectively [4]

Investment Rating - The investment rating for the company is "Buy" and is maintained [7] Core Views - The company is experiencing continuous profit release and growth in profitability, with the shipbuilding industry showing an upward trend in 2024. The company has maintained its position as the global leader in market share for 15 consecutive years [2][4] - The company benefits from an increase in new orders and deliveries, driven by the favorable conditions in the shipbuilding industry. The reduction in steel prices and the optimization of order structure have further enhanced profitability [2][4] - The demand for green ships is increasing due to environmental requirements, and the merger with China Shipbuilding Industry Corporation is expected to improve operational efficiency and performance [2][4] Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 78.584 billion yuan, a year-on-year increase of 5.01%, and a net profit attributable to shareholders of 3.614 billion yuan, up 22.21%. In Q1 2025, the revenue was 15.858 billion yuan, a 3.85% increase year-on-year, with a net profit of 1.127 billion yuan, a significant rise of 180.99% [4][10] - The gross profit margin for the main business reached 9.94% in 2024, an increase of 0.43 percentage points year-on-year, with Q1 2025 showing a gross profit margin of 12.84%, up 6.16 percentage points year-on-year [10] Order and Delivery Performance - In 2024, the company secured 154 new civil ship orders totaling 1,039 billion yuan, an increase of 26 vessels year-on-year. The company delivered 93 civil ships, completing 112.74% of the annual plan [10] - As of the end of 2024, the company had a backlog of 322 civil ship orders, with a total weight of 24.6107 million deadweight tons, indicating a robust order book extending to 2028 [10] Industry Outlook - The shipbuilding industry is expected to maintain a supply-demand gap, with the completion volume in China projected to be 50.7631 million deadweight tons in 2024, a year-on-year increase of 9.63%. The new ship order volume is expected to rise significantly, driven by the aging fleet and the demand for new energy replacements [10] - The merger with China Shipbuilding Industry Corporation is anticipated to enhance operational efficiency and accelerate delivery, contributing to sustained high growth in the company's performance [10]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its performance relative to the market [6]. Core Views - The company's performance aligns with expectations, with a reported revenue of 78.584 billion yuan for 2024, reflecting a 5% year-on-year growth, and a net profit of 3.614 billion yuan, which is a 22% increase [6]. - The impact of the new 301 plan on shipyards has significantly weakened, with expectations for new order volumes and ship prices to stabilize and rise [6]. - The report highlights a dual improvement in revenue and costs, validating profit elasticity, with a projected increase in net profit for 2025 to 7.029 billion yuan, representing a 94.5% year-on-year growth [6]. Financial Data and Profit Forecast - Total revenue projections for 2025 are set at 81.617 billion yuan, with a year-on-year growth rate of 3.9% [2]. - The expected net profit for 2025 is 7.029 billion yuan, with a significant increase in earnings per share to 1.57 yuan [2]. - The gross profit margin is anticipated to improve to 15.5% by 2025, with a return on equity (ROE) of 12.4% [2]. Market Data - As of April 30, 2025, the closing price of the stock was 29.28 yuan, with a price-to-earnings ratio of 36 [3]. - The company has a market capitalization of approximately 130.953 billion yuan, with a price-to-book ratio of 2.5 [3]. - The stock has shown a dividend yield of 0.68%, based on the most recent dividend announcements [3].

Core Insights - The company reported a revenue of 78.584 billion yuan for 2024, representing a year-on-year increase of 5.0%, and a net profit attributable to shareholders of 3.614 billion yuan, up 22.2% year-on-year [1] - In Q4 2024, the revenue was 22.416 billion yuan, down 11.0% year-on-year, while the net profit attributable to shareholders surged by 239.2% to 1.343 billion yuan [1] - For Q1 2025, the revenue reached 15.858 billion yuan, a 3.8% increase year-on-year, with a net profit of 1.127 billion yuan, reflecting a significant year-on-year growth of 181.0% [1] Financial Performance - The company delivered 93 civil vessels in 2024, achieving 112.74% of the annual target, with a total weight of 7.2134 million deadweight tons [2] - The gross profit margin for 2024 and Q1 2025 was 10.2% and 12.8% respectively, with Q1 2025 showing a significant increase due to the delivery of high-priced vessels [2] - The net profit margin improved to 4.6% in 2024 and 7.1% in Q1 2025, reflecting year-on-year increases of 0.65 and 4.48 percentage points respectively [2] Order Backlog and Structure - As of the end of 2024, the company had a backlog of 322 civil vessel orders, totaling 216.962 billion yuan, along with 63 repair orders worth 9.18 billion yuan [3] - The order structure has been optimized, with the company holding a leading position globally in various vessel types, including container ships and VLGCs [3] Profit Forecast and Valuation - The profit forecasts for 2025 and 2026 remain unchanged, with the current stock price corresponding to a P/E ratio of 16.4x for 2025 and 13.0x for 2026 [3] - The target price has been adjusted down by 12.8% to 41.00 yuan, reflecting a potential upside of 40.0% from the current stock price [3]

上市公司名称：中国船舶重工集团动力股份有限公司 信息披露义务人声明 一、本报告书系依据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司收购管理办法》 《公开发行证券的公司信息披露内容与格式准则第15号一一权益变动报告书》等法律、法规和规范性文 件编写。 二、信息披露义务人签署本报告书已获得必要的授权和批准。 股票上市地点：上海证券交易所 股票简称：中国动力 股票代码：600482 信息披露义务人名称：中国船舶工业集团有限公司 住所及通讯地址：中国（上海）自由贸易试验区浦东大道1号 签署日期：2025年4月29日 三、本报告书已全面披露信息披露义务人在中国船舶重工集团动力股份有限公司中拥有权益的股份变动 情况；截至本报告书签署日，除本报告书披露的信息外，信息披露义务人没有通过任何其他方式增加或 减少其在中国船舶重工集团动力股份有限公司中拥有权益的股份； 四、截至本报告书签署日，本次权益变动已经获得有权国资单位原则性同意，尚需履行如下法律程序： 1、有权国资单位批准本次交易正式方案； 2、上市公司股东大会审议通过本次交易方案； 3、上交所审核通过及中国证监会注册同意； 4、相关法律法规所要求的其他可能涉 ...