Sou Hu Cai Jing·2025-08-15 10:08Group 1 - The core point of the news is the merger between China Shipbuilding and China Shipbuilding Industry, which will result in the absorption of China Shipbuilding Industry by China Shipbuilding through a share exchange, leading to the termination of the independent status of China Shipbuilding Industry [2][3] - The merger has been approved by the China Securities Regulatory Commission and is set to create the largest listed shipbuilding company globally, with total assets exceeding 400 billion yuan and annual revenue surpassing 130 billion yuan [4][6] - The merger is part of a broader restructuring strategy initiated by the State-owned Assets Supervision and Administration Commission, aimed at consolidating the shipbuilding industry in China [3][4] Group 2 - In 2024, China Shipbuilding's new orders and backlog are reported at 12.72 million deadweight tons and 24.61 million deadweight tons, respectively, while China Shipbuilding Industry's figures are 15.90 million deadweight tons and 30.31 million deadweight tons, leading to combined new orders and backlog of 28.62 million deadweight tons and 54.92 million deadweight tons post-merger [5] - The merger will enhance the competitive position of the new entity in the global market, as the combined companies accounted for nearly 17% of the global market share last year [6] - The merger is expected to leverage synergies between the two companies, allowing them to capitalize on opportunities in the shipbuilding industry's transformation and upgrade [9]