“民营造船第一股”，签下大单

Core Viewpoint - *ST Songfa has signed contracts for the construction of three vessels, which is expected to enhance its competitive advantage in the shipbuilding industry and positively impact its future performance [2][4][6]. Group 1: Contract Details - The contracts involve one Very Large Crude Carrier (VLCC) and two Capesize bulk carriers, with a total contract value estimated between $200 million and $400 million [4]. - The delivery schedule for the vessels is set for mid-2026 and the second half of 2027 [4]. - The contract amount exceeds 50% of the company's audited main business income for the most recent fiscal year, as per stock listing rules [4]. 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 [6]. - The Capesize bulk carriers are recognized for their significant scale transport advantages and economic efficiency, suitable for transporting bulk commodities like iron ore and coal [6]. Group 3: Impact on Company Performance - The successful construction of these vessels is expected to enhance the company's long-term market competitiveness and profitability [6]. - The company emphasizes that the normal execution of these contracts will have a positive impact on its future performance [6]. - Revenue recognition from these contracts will depend on accounting standards and the actual performance of the contracts over time [7].