CSSC Holdings(SH:600150) Hua Xia Shi Bao·2025-05-01 22:29Core Viewpoint - China Shipbuilding Industry Company (China Shipbuilding) reported a successful turnaround in 2024, achieving a net profit of 30.72 billion yuan, compared to a loss of 2.91 billion yuan in the previous year, driven by improved order structure and market conditions [1][2][3] Financial Performance - In 2024, China Shipbuilding achieved revenue of 78.584 billion yuan, a year-on-year increase of 5.01% [2] - The company's main business revenue reached 77.667 billion yuan, up 5.60% year-on-year, with a gross margin of 9.94%, an increase of 0.43 percentage points [2] - The net profit attributable to shareholders was 36.14 billion yuan, compared to 29.57 billion yuan in the previous year, with a net profit of 30.72 billion yuan after excluding non-recurring gains and losses [2][3] Order and Delivery Status - As of the end of 2024, China Shipbuilding had a robust order backlog, with 322 civil ship orders totaling 216.962 billion yuan [3][4] - The company delivered 93 civil ships with a total deadweight tonnage of 721.34 thousand tons, exceeding the annual plan by 112.74% [4] - The company is also progressing with a share swap merger with China Shipbuilding Industry Corporation, pending regulatory approvals [4] Market Outlook - China Shipbuilding has set a revenue target of 80.5 billion yuan for 2025, with expectations to complete 89 civil ships and 270 repair ships [5] - The global shipbuilding market is entering a new development cycle, with China maintaining a leading position in international market share [6] - The company acknowledges potential external risks due to increasing global trade protectionism and economic instability, but sees opportunities in green ship development and technological advancements [6]