Core Viewpoint - China Shipbuilding Industry is undergoing a transformation from catching up to surpassing global competitors, marked by the exit of China Shipbuilding Industry Co., Ltd. (China Heavy Industry) from the A-share market, signaling a new phase in the industry [3][20]. Group 1: Historical Context - China Heavy Industry, a key player in China's shipbuilding reform for nearly 20 years, officially delisted with a closing price of 5.10 yuan per share [3][4]. - The split of the former China Shipbuilding Industry Corporation in 1999 into two entities, "South Ship" and "North Ship," was a strategic move to enhance competition and efficiency in the industry [7]. - By 2010, China surpassed South Korea in shipbuilding completion volume, hand-held orders, and new orders, marking a significant achievement in the industry [9]. Group 2: Industry Challenges and Responses - The global shipbuilding industry faced cyclical challenges, including price drops and rising material costs, leading to reduced profit margins for civil vessels [11][12]. - In response to intensified competition, South and North Ship merged in November 2019 to form China Shipbuilding Group, aiming to eliminate internal competition and enhance specialization [13][14]. Group 3: Future Outlook - By 2024, China is expected to capture over 70% of new green ship orders globally, reflecting a significant increase in technological competitiveness and market share [15]. - The merger of China Heavy Industry into China Shipbuilding Group is set to create the largest listed shipbuilding company globally, with a new leadership poised to navigate international competition [16][18]. - The global shipbuilding industry is experiencing a wave of mergers, with major players like HD Hyundai and Imabari Shipbuilding also consolidating, indicating a trend towards larger, more competitive entities [19].