Xin Lang Cai Jing·2025-08-29 12:15Core Viewpoint - China Shipbuilding Industry is undergoing a significant merger, with China Shipbuilding (600150.SH) absorbing China Heavy Industry (601989.SH), leading to the latter's delisting from the stock market by September 5, 2025 [1][2]. Group 1: Merger Details - The merger is a result of China Shipbuilding issuing A-shares to all shareholders of China Heavy Industry, which was approved by the State-owned Assets Supervision and Administration Commission [2]. - This merger is noted as the largest absorption merger in A-share history, consolidating resources from both companies into a single entity [2]. - Post-merger, the new company will have total assets exceeding 400 billion yuan [2]. Group 2: Financial Performance - For the first half of 2025, China Heavy Industry reported a revenue of 32.621 billion yuan, a year-on-year increase of 47.56%, and a net profit of 1.745 billion yuan, up 227.07% [2]. - China Shipbuilding's revenue for the same period was 40.325 billion yuan, reflecting an 11.96% increase, with a net profit of 2.946 billion yuan, up 108.59% [3]. - As of August 29, 2025, China Shipbuilding's total assets were reported at 181.977 billion yuan, while China Heavy Industry's total assets were 221.5 billion yuan [3]. Group 3: Market Reaction - On August 29, 2025, China Shipbuilding's stock price increased by 1.52%, closing at 37.38 yuan per share, with a market capitalization of 167.179 billion yuan [3]. - China Heavy Industry's stock has been suspended since August 13, 2025, with a market capitalization of 116.290 billion yuan [3].