FORTUNE(SH:603173) Chang Jiang Shang Bao·2025-10-14 09:11Core Viewpoint - Fostar (603173.SH) is making a significant investment of approximately 1 billion yuan in the marine engineering and equipment intelligent manufacturing project, aiming to extend its industrial chain and enhance its product structure towards high value-added offerings [1][2]. Investment Project Details - The project will be located in the Qidong Lusi Port Economic Development Zone, covering a total area of about 505 acres, including 240 acres of industrial land and 265 acres of industrial sea area [1]. - The project will produce large marine engineering equipment, oil and gas modules, and large chemical containers, supported by a heavy-duty terminal to facilitate the manufacturing and delivery of large equipment [1][2]. - A wholly-owned subsidiary will be established to manage the investment, construction, and operations of the project, with a registered capital of no less than 588 million yuan [1]. Strategic Goals - The investment aims to optimize the product structure towards high value-added products and accelerate the company's transformation towards large-scale, high-end, engineering, and service-oriented operations [2]. - The heavy-duty terminal is a key infrastructure that will enhance the company's delivery capabilities for large and oversized projects, improving customer loyalty and export advantages [2]. Financial Performance - Fostar has shown robust financial performance since its listing in January 2023, with revenues of 2.156 billion yuan, 2.419 billion yuan, and 1.476 billion yuan for 2023, 2024, and the first half of 2025, reflecting year-on-year growth of 14.3%, 12.2%, and 62.14% respectively [2][3]. - The net profit attributable to shareholders for the same periods was 191 million yuan, 261 million yuan, and 251 million yuan, with year-on-year growth rates of 34.67%, 36.63%, and 140.45% respectively [2][3]. Order and Market Performance - As of the first half of 2025, Fostar reported a contract liability of 1.975 billion yuan, an increase of 41.39% year-on-year, indicating a stable operational situation and strong investor interest [4]. - The stock price of Fostar reached 51.6 yuan per share as of October 14, 2025, reflecting a cumulative increase of 128.82% since the beginning of 2025 [4].