CSSC Holdings(SH:600150) Di Yi Cai Jing·2025-09-17 09:36Group 1 - The global shipbuilding industry has entered a critical period of the current "super cycle," with a significant decline in new ship orders this year due to geopolitical factors, decarbonization paths, and industry capacity issues [1] - Despite the overall decline in new ship orders, China's shipbuilding industry remains resilient, leading in completion volume, new orders, and backlog orders, accounting for 51.7%, 68.3%, and 64.9% of the global totals respectively [1] - The profit of China's large-scale shipbuilding enterprises reached a historical high of 38.74 billion yuan, a year-on-year increase of 72.6%, with a profit margin of 9.71% [1] Group 2 - China's shipbuilding industry achieved historical highs in backlog orders, new ship price index, and operating revenue, with green low-carbon initiatives accelerating, including a rapid increase in LNG and methanol-powered ship orders [2] - It is projected that China's shipbuilding completion volume will be around 51 million deadweight tons in 2025, with new orders slightly declining compared to the previous year, while backlog orders will remain above 230 million deadweight tons [2] - Alternative fuel vessels have become the main focus of the global new shipbuilding market, with 55.5% of new ship orders this year being alternative fuel vessels [2]