全球造船第一股诞生！“南北船”上市公司合体

Core Viewpoint - The merger between China Shipbuilding Industry Co., Ltd. and China Shipbuilding Heavy Industry Co., Ltd. has been completed, creating the largest and most comprehensive publicly listed shipbuilding company globally [2][6]. Group 1: Merger Details - The merger was executed through a share swap, with China Shipbuilding issuing A-shares to absorb China Shipbuilding Heavy Industry, increasing its total share capital from 4,472,428,758 shares to 7,525,621,288 shares [2]. - The share swap ratio was set at 1:0.1339, meaning each share of China Shipbuilding Heavy Industry could be exchanged for 0.1339 shares of China Shipbuilding [2]. - The total value of the merger was reported at 115.15 billion yuan, marking it as the largest restructuring project in A-share market history and the largest merger in the global shipbuilding industry [6]. Group 2: Strategic Implications - The merger aims to enhance operational quality, core functions, and competitiveness of the combined entity, while also addressing industry competition and protecting minority shareholders' rights [4]. - Post-merger, China Shipbuilding will focus on strengthening its role in national defense and capitalizing on opportunities in the shipbuilding industry's transformation and upgrade [4][10]. Group 3: Financial and Operational Impact - Following the merger, the total asset scale of the combined company will exceed 400 billion yuan, with annual revenue projected to surpass 130 billion yuan [6]. - The merger will consolidate various shipbuilding and repair businesses, optimizing operations and enhancing market share across multiple dimensions [10]. Group 4: Market Position and Orders - As of mid-2023, China Shipbuilding secured 59 orders for civilian vessels totaling 5.4398 million deadweight tons, while China Shipbuilding Heavy Industry received 47 orders totaling 8.3826 million deadweight tons [9]. - Together, both companies captured 29% of the global new ship orders and 52% of domestic orders, with a combined order backlog representing 16% of the global total [9].