Huan Qiu Wang·2025-09-04 06:25Core Viewpoint - The strategic merger between China Shipbuilding Industry Group and China Shipbuilding has been finalized, creating the world's largest listed shipbuilding company with total assets exceeding 400 billion yuan [1][4]. Summary by Sections Merger Details - The final share exchange ratio has been set at 1 share of China Shipbuilding for 0.1339 shares of China Heavy Industry, effective after the stock registration date on September 4 [2]. - Shareholders of China Heavy Industry will receive shares of China Shipbuilding based on this ratio, with provisions for fractional shares to be distributed fairly [2]. Financial Data - Post-merger, the total assets of the new China Shipbuilding will reach approximately 403.44 billion yuan, with net assets of 138.40 billion yuan [4]. - For the first half of 2025, China Heavy Industry reported a net profit of 1.745 billion yuan, a year-on-year increase of 227.07%, while China Shipbuilding reported a net profit of 2.946 billion yuan, up 108.59% year-on-year [4]. Strategic Goals - The merged entity aims to integrate key assets from China Heavy Industry, such as Dalian Shipbuilding and Wuchang Shipbuilding, to eliminate competition and enhance operational efficiency [5]. - The new company will focus on national strategic priorities, optimize its industrial layout, and enhance its research and manufacturing capabilities, aiming to become a world-class shipbuilding enterprise with international competitiveness [5].