SONGFA(SH:603268) Zhong Guo Ji Jin Bao·2025-10-13 11:42Core Viewpoint - *ST Songfa has signed contracts for the construction of three vessels, which is expected to positively impact the company's future performance and strengthen its market competitiveness in the shipping industry [2][5]. Group 1: Contract Details - The contracts involve the construction of one Very Large Crude Carrier (VLCC) and two Capesize bulk carriers, with a total contract value estimated between $200 million and $400 million [3]. - The delivery dates for the vessels are set for mid-2026 and the second half of 2027 [3]. - The contract amount exceeds 50% of the company's audited revenue from the previous fiscal year, as per stock listing regulations [3]. Group 2: Vessel Specifications - The VLCC is designed for high efficiency, capable of adapting to major global oil ports and meeting the demands of long-distance crude oil transportation [4]. - The Capesize bulk carriers are recognized for their significant transportation advantages and economic efficiency, suitable for transporting bulk commodities like iron ore and coal [4]. Group 3: Impact on Company Performance - The successful execution of these contracts is anticipated to enhance the company's long-term market competitiveness and profitability [5]. - The recognition of revenue from these contracts will depend on accounting standards and the actual performance of the contracts over time [5].