Core Insights - The marine economy in China is experiencing robust growth, surpassing 10 trillion yuan for the first time, with a year-on-year increase of 5.9% [1] - The marine engineering equipment manufacturing industry is recovering, maintaining the largest global market share for seven consecutive years [1] - The deep-sea technology industry is expanding, with over 10,000 registered deep-sea technology-related companies by 2025, and nearly 60% of the existing 172,700 companies established within the last three years [1]

Core Viewpoint - China Shipbuilding Group held its annual performance briefing for 2024, showcasing its reform achievements and future development vision, marking the third consecutive year of such meetings [1] Group 1: Financial Performance - In 2024, China Shipbuilding's revenue is projected to be 78.584 billion yuan, a year-on-year increase of 5.01%, with net profit attributable to shareholders reaching 3.614 billion yuan, up 22.21% [3] - In Q1 of this year, the company achieved a revenue of 15.858 billion yuan, reflecting a growth of 3.85%, while net profit and non-recurring net profit saw significant increases of 180.99% and 230.20% respectively [3] Group 2: Business Outlook and Goals - The company aims to achieve a revenue target of 80.5 billion yuan by 2025, with completion plans for 89 civil shipbuilding projects and 270 ship repair projects [4] - China Shipbuilding plans to enhance its deep-sea technology capabilities and establish a closed-loop system for research, validation, and application, aiming to create a high ground in deep-sea technology [4] Group 3: Strategic Reorganization - The ongoing merger with China Shipbuilding Heavy Industry is expected to position the company as the largest and most technologically advanced shipbuilding flagship listed company in China [4] - The company emphasizes its role in leading industry development and supporting national defense, being the only listed company globally constructing aircraft carriers, large LNG ships, and large cruise ships simultaneously [5]

Core Viewpoint - China Shipbuilding Group is focused on enhancing its global competitiveness in the shipbuilding and marine industry, with a strong emphasis on innovation and high-quality development in 2024 [1] Group 1: Financial Performance - In 2024, China Shipbuilding Industry Co., Ltd. achieved operating revenue of 78.584 billion yuan, a year-on-year increase of 5.01% [1] - The net profit attributable to shareholders reached 3.614 billion yuan, reflecting a significant year-on-year growth of 22.21% [1] - The shipbuilding and marine engineering business generated operating revenue of 75.374 billion yuan, while the application industry contributed 2.293 billion yuan [1] Group 2: Order Backlog - As of the end of 2024, the company had a robust order backlog, including 322 civil ship orders totaling 216.962 billion yuan and 63 ship repair orders valued at 9.18 billion yuan [1] - The company also reported contract orders for marine equipment amounting to 743 million yuan and application industry contract orders of 1.382 billion yuan [1] Group 3: Future Goals and Strategies - For 2025, the company aims to achieve operating revenue of 80.5 billion yuan, with plans to complete 89 civil ship deliveries and 270 ship repairs [2] - The company is committed to enhancing its deep-sea technology capabilities and establishing a closed-loop system for research, validation, and application to drive innovation and market competitiveness [2] - The potential merger with China Shipbuilding Industry Corporation is positioned to create the largest and most technologically advanced shipbuilding flagship listed company in China [2]

Group 1 - The 2024 annual performance briefing of China Shipbuilding Group's listed companies was successfully held, featuring 12 companies including China Shipbuilding (600150) [1] - China Shipbuilding is the core listed company under China Shipbuilding Group, responsible for leading industry development and supporting national defense construction [3] - The company aims to achieve an operating revenue of 80.5 billion yuan in 2025, with completion plans for 89 civil shipbuilding projects and 270 ship repair projects [3] Group 2 - The company has orders scheduled for delivery until 2029 and is focused on improving production efficiency to deliver more ships earlier [4] - China Shipbuilding plans to enhance its deep-sea technology capabilities and create a closed loop of research, verification, and application in the deep-sea technology industry [4] - The company discussed the potential merger with China Shipbuilding Industry Corporation, positioning itself as the largest and most advanced shipbuilding flagship listed company in China post-merger [4][5] Group 3 - The company emphasizes value creation through the professional integration of core assets and resources, aiming to enhance operational efficiency and brand premium [5] - The focus is on seizing opportunities from the transformation and upgrading of the shipbuilding industry to build a world-class shipbuilding enterprise with international competitiveness [5]