SONGFA(SH:603268) Sou Hu Cai Jing·2025-11-11 14:32Core Viewpoint - *ST Songfa (603268) has signed contracts for the construction of 4 VLCC super-large crude oil tankers, which is expected to positively impact the company's future performance and enhance its long-term market competitiveness and profitability [1]. Group 1: Stock Performance - As of November 11, 2025, *ST Songfa closed at 68.85 yuan, up 5.0% from the previous trading day, with a total market capitalization of 66.838 billion yuan [1]. - The stock opened at 67.59 yuan, reached a high of 68.85 yuan, and a low of 67.0 yuan, with a trading volume of 2.45 billion yuan and a turnover rate of 2.87% [1]. Group 2: Contract Details - The contracts signed by the subsidiary, Hengli Shipbuilding (Dalian) Co., Ltd., amount to approximately 400-600 million USD, with deliveries scheduled to begin in March 2028 [1]. - The counterparty to the contracts is a well-known European shipowner, and specific details are exempt from disclosure according to relevant regulations [1]. - The contracts are classified as routine operational contracts and do not constitute related party transactions, thus requiring no board or shareholder approval [1]. Group 3: Future Implications - The long contract execution period may be influenced by factors such as the shipping market, raw material prices, and exchange rate fluctuations, which could pose performance risks [1]. - The fulfillment of these contracts is anticipated to have a positive impact on the company's future performance, enhancing its medium to long-term market competitiveness and profitability [1].