SONGFA(SH:603268) Zheng Quan Shi Bao Wang·2025-11-27 12:40Core Viewpoint - *ST Songfa has signed contracts for the construction of various types of vessels, which are expected to enhance the company's market competitiveness and profitability in the long term [1][3]. Group 1: Contract Details - The contracts include the construction of 6 VLCCs (30.6 million tons), 2 LNG dual-fuel oil tankers (15.7 million tons), and 4 container ships (6000 TEU) [1][2]. - The total contract value is estimated between $1.1 billion and $1.6 billion, with deliveries scheduled from the second half of 2027 to 2028 [1]. Group 2: Vessel Specifications - The VLCCs are designed for large cargo capacity, strong endurance, and high operational efficiency, meeting the latest international shipping market demands for large-scale and low-carbon transportation [2]. - The LNG dual-fuel oil tankers feature large load capacity, low fuel consumption, and excellent environmental performance, aligning with current green transportation needs [2]. - The 6000 TEU container ships are designed for large capacity and stable speed, suitable for diverse transportation needs in international shipping [2]. Group 3: Financial Impact - The normal execution of these contracts is expected to positively impact the company's future performance and strengthen its market position [3]. - Revenue and profit recognition will be based on accounting standards and the actual performance of the contracts, with the final impact subject to audit results [3]. - The contracts are classified as routine operational contracts, with no related party transactions involved, ensuring the independence of the company's business operations [3].