AsAc(SH:601890) Xin Hua Cai Jing·2025-11-21 09:44Core Viewpoint - The resilience of Yaxing Anchor Chain's stock price reflects the transformation of China's shipbuilding industry from "scale leading" to "quality leading," with significant growth in overseas markets showcasing the global expansion of "Made in China" in high-end equipment [1][2]. Company Summary - Yaxing Anchor Chain's stock price increased by 10.61% to 10.95, with a market capitalization exceeding 10.5 billion [1]. - For the first three quarters of 2025, the company reported revenue of 1.544 billion, a year-on-year increase of 5.28%, and a net profit attributable to shareholders of 211 million, up 9.38% [1]. - In Q3, the company achieved revenue of 552 million, a year-on-year growth of 4.23% and a quarter-on-quarter increase of 36.86%, with net profit reaching 96.74 million, up 77.72% year-on-year and 55.9% quarter-on-quarter [1]. Industry Summary - Yaxing Anchor Chain holds over 60% market share in the global ship anchor chain market, dominating the high-end mooring chain sector [2]. - China's shipbuilding industry continues to lead globally, with completion volume, new orders, and backlog orders accounting for 51.7%, 68.3%, and 64.9% of the world market share, respectively [2]. - The complete industrial system in China's shipbuilding includes design, core component manufacturing, and shipbuilding, achieving cost advantages and delivery capabilities in mainstream ship types [3]. - The industry is shifting from simple product exports to diversified outputs, including technology, standards, and services, with companies like Yaxing Anchor Chain enhancing international recognition through participation in major global projects [3]. - Future predictions indicate stable growth in the global shipbuilding market, with opportunities for China to expand its market share and achieve breakthroughs in high-end ship types [3].