Group 1 - Recently, Hengli Heavy Industry secured orders for 2 VLCCs (30.6 million deadweight tons) and 6 LR2 product oil tankers (11.4 million deadweight tons) [2][3] - The VLCC orders, placed by a "well-known European shipowner," are expected to be delivered between Q4 2027 and Q2 2028, with a total contract value of approximately $200-300 million (RMB 1.422-2.132 billion) [2] - The LR2 orders, placed by an "internationally renowned shipowner," are scheduled for delivery in 2027, with a total contract value of approximately $400-600 million (RMB 2.843-4.265 billion) [2] Group 2 - The 30.6 million ton VLCC is designed for large oil transportation, featuring high loading capacity, strong endurance, and operational efficiency, meeting the latest international shipping market demands for large-scale and low-carbon transportation [3] - The 11.4 million ton LR2 product oil tanker is characterized by its large loading capacity and green energy efficiency, suitable for regional and transoceanic transportation needs [3] - The signing of these orders will strengthen Hengli's leading position in the high-end oil tanker market and enhance its brand recognition and influence internationally [3] Group 3 - Hengli Heavy Industry aims to continuously improve its technical capabilities and construction standards to provide high-quality and efficient vessels, striving to become a global leader in shipbuilding [4] - The company has commenced the construction of over 60 vessels and holds approximately 170 orders scheduled for production until 2029 [4] - Once all projects are fully operational, Hengli Heavy Industry is expected to achieve an annual production capacity of over 150 large vessels and 180 marine engines, becoming the largest and most comprehensive shipbuilding base globally [4]

Core Viewpoint - *ST Songfa has signed contracts for the construction of two 30.6 million-ton Very Large Crude Carriers (VLCC), with a total contract value of approximately $200-300 million, expected to be delivered in the second half of 2026 [1] Group 1: Contract Details - The contracts involve the construction of two VLCCs, which are recognized as mainstream large crude oil transport vessels internationally [1] - The total contract amount is estimated to be between $200 million and $300 million [1] - The delivery of the vessels is scheduled for the second half of 2026 [1] Group 2: Vessel Specifications and Market Position - The 30.6 million-ton VLCCs are characterized by large loading capacity, strong endurance, and high operational efficiency [1] - These vessels are designed to adapt to various shipping routes and loading flexibility, making them suitable for major global crude oil ports [1] - The vessels meet the current international shipping market's demand for large-scale and low-carbon transportation, reflecting the company's innovation and technical strength in high-end ship design [1] Group 3: Impact on Company Performance - The normal execution of these contracts is expected to have a positive impact on the company's future performance [1] - This development is likely to enhance the company's medium to long-term market competitiveness and profitability [1] - The contracts will further consolidate the company's competitive advantage in the VLCC market [1]

Group 1 - The core point of the article is that *ST Songfa's subsidiary, Hengli Shipbuilding, has signed a contract with a well-known European shipowner for the construction of two 30.6 million-ton ultra-large crude oil tankers, with a contract value of approximately 200-300 million USD [1] - The ship type features large loading capacity, strong endurance, and high operational efficiency, aligning with the latest international tanker design concepts and meeting the demands for large-scale and low-carbon transportation [1] - The normal execution of the contract is expected to have a positive impact on the company's future performance, enhancing its medium to long-term market competitiveness and profitability, thereby consolidating its competitive advantage in the ultra-large crude oil tanker market [1] Group 2 - The contract execution period is relatively long and may be influenced by fluctuations in the shipping and shipbuilding markets, customer demand, raw material price volatility, and exchange rate fluctuations, indicating potential investment risks [1]