南财智讯12月15日电，中集集团在投资者关系活动中表示，FPSO作为长周期项目，受短期油价波动影 响较小，全球深水开发复苏推动国家及国际石油公司加大投入，SBMOffshore、Clarkson等机构预计 2025-2029年每年将有超10艘FPSO新合同授予。由于技术壁垒高，涉及多学科协同，大型新建FPSO市 场价格达40亿美元以上。公司已将FPSO列为核心战略业务，通过设立专业油气研发中心、扩大基础设 施、发挥深水码头优势及创新模块建造模式，持续提升自主研发设计能力和产能保障水平。 ...

Group 1: Offshore Engineering Outlook - As of June 2025, the offshore engineering segment holds approximately $5.55 billion in orders, scheduled for production until 2027/2028 [2][3] - The company focuses on high-quality, high-end equipment orders, primarily in oil and gas projects like FPSO/FLNG [3] - Economic uncertainties and high interest rates have delayed some projects, but industry forecasts predict a release of delayed projects in 2026, with continued investment peaks through 2028 [3] Group 2: Competitive Advantages - The company boasts a strong design capability with nearly 4,000 employees, including a dedicated R&D team of about 1,200, and four research centers located in China and Europe [4] - A one-stop delivery capability is established through a robust manufacturing and supply chain system, enhancing efficiency in modular construction and cost control [4][5] - A highly responsive global supply chain allows for real-time data sharing with clients, ensuring transparency and collaboration throughout the construction process [5][6] Group 3: Container Manufacturing and Storage Business - Long-term confidence in container manufacturing is based on the correlation with global trade volume, which is expected to grow due to population increase and wealth elevation [7] - The storage business has become a key growth area, with a cumulative shipment of over 60 GWh of storage equipment, positioning the company as a global leader [8] Group 4: Data Center Innovations - The company has developed a modular data center project in Malaysia, featuring 833 modules and a total IT load of approximately 60 MW, completed in under 10 months [9][10] - Innovative cooling solutions and modular designs enhance construction speed and energy efficiency, showcasing the company's leadership in industrialized data center solutions [10]

原标题： 座谈会上，陈刚在认真听取相关汇报和专家发言后指出，习近平总书记高度重视广西向海经济发 展。我们要深刻领会习近平总书记对广西提出"解放思想、创新求变，向海图强、开放发展"和大力发展 向海经济的重大考量，深刻认识推动向海图强、发展向海经济是时代必然、国家所需和广西优势所在。 要牢固树立全国一盘棋和全区一盘棋思想，坚持陆海统筹、全域向海，进一步强化向海思维、做好向海 文章。要优化完善自治区向海经济发展工作机制，充实工作力量，统筹编制好向海经济发展规划及规划 体系，加强海洋科学研究，充分发挥比较优势，抢抓历史机遇，着力打好港口牌、东盟牌、产业牌、人 工智能牌和生态牌，做优一产、做强二产、做大三产，着力破瓶颈、补短板，真正把海洋潜力转化为高 质量发展实效，向海洋要生产力、求增长点，让海洋真正成为引领广西未来发展的蓝色引擎。 自治区党委常委、秘书长周异决参加调研。自治区副主席眭国华，北海、防城港、钦州、玉林市党 委主要负责同志和自治区有关部门主要负责同志等参加座谈会。（罗昌亮） 陈刚到钦州、北海市开展向海经济发展专题调研时强调 12月2日至3日，自治区党委书记、自治区人大常委会主任陈刚到钦州市、北海市开展向海经 ...

地区生产总值同比增长5.4%，规模以上工业增加值同比增长7.2%，外贸进出口总值同比增长17.3%…… 这是南通前三季度交出的"发展答卷"。开发园区作为经济主战场，其蓬勃发展的态势为南通高质量发展 注入了强劲动力。 园区干部队伍的精气神与战斗力，直接关乎园区发展的速度与质量。近年来，南通深刻把握发展脉动， 聚焦"活力充盈、本领高强"这一核心要素，着力打造一支"善谋事、能扛事、干成事"的高素质专业化园 区干部队伍，不断激发全市上下干事创业的热情与潜能，为高质量发展夯实人才基础。 精准谋划，建好干部"蓄水池" 通州湾示范区中试基地主体建筑全部封顶，海门开发区嘉吉粮油迁建项目正式开工，启东吕四港开发区 惠生海工智能制造基地建设如火如荼……今年以来，南通各园区竞相发力，项目招引与产业升级呈现百 舸争流之势。 一般公共预算收入55.4亿元，增长2.5%，税占比78.6%；工业用电量累计67.4亿千瓦时，增长 10.13%……1—9月，南通经济技术开发区多项经济指标继续领跑全市，展现了园区干部奋发向上的精 气神。 干部活力是园区活力的源泉。南通市制定出台《关于用好职级资源激励干部担当作为的若干意见》，在 全市深入开展"求 ...

（编辑 袁冠琳） 证券日报网讯 中集集团11月24日发布公告，在公司回答调研者提问时表示，2024年中集来福士揽获2艘 FPSO船体总包订单（"P-84"号和"P-85"号），2025年8月交付FPSOP-83船体，目前为巴西国油交付和在 建的浮式平台达到六艘。公司是国内唯二获巴西国油FPSO总包资质的企业，同时项目管理能力突出， 在交付期管理、质量管控上都具有优势，在全球FPSO建造领域处于领先地位。关于后续新项目进展， 公司会按规定及时履行信息披露义务。 ...

Core Viewpoint - CIMC Raffles has secured contracts for two FPSO hulls to be delivered in August 2025, highlighting its leading position in the global FPSO construction sector and its unique qualification as the only company in China to obtain FPSO total package qualification from Petrobras [1] Group 1 - CIMC Raffles has won contracts for two FPSO hulls, with a total package order for delivery in August 2025 [1] - The company currently has six floating platforms under delivery and construction for Petrobras [1] - CIMC Raffles possesses advantages in project management, delivery time control, and quality management [1]

Group 1: Project Developments - CIMC Raffles has secured 2 FPSO hull total package orders for "P-84" and "P-85" in 2024, with the delivery of FPSO P-83 scheduled for August 2025, bringing the total to six floating platforms for Petrobras [1][2] - CIMC is one of only two companies in China with FPSO total package qualifications from Petrobras, showcasing strong project management capabilities and a leading position in the global FPSO construction sector [2] Group 2: Container and Energy Storage Business - Container orders are stable, but Q4 is typically a slow season for shipping [3] - The energy storage business has become a key growth driver, with a significant increase in demand for energy storage boxes and system integration, leading to a cumulative shipment of over 60 GWh, positioning CIMC as a global leader [3] - CIMC is expanding its energy storage applications across various sectors, including urban supercharging, green transportation, and data centers, with successful demonstration projects [3] Group 3: Compensation and Land Development - The compensation agreement for the CIMC Pingshan production base land preparation project has been signed, covering 7 plots with a total area of 822,800 square meters, and the total monetary compensation is expected to reach RMB 828 million [4] Group 4: Market Value Management - CIMC emphasizes market value management as a crucial aspect of high-quality development, focusing on enhancing return rates and promoting emerging strategic business growth [5] - The company has initiated share repurchase plans of up to HKD 500 million for H shares and RMB 300-500 million for A shares to boost investor confidence and reflect the company's intrinsic value [5]

Group 1: Market Outlook and Order Status - As of June 2025, the offshore engineering segment has a backlog of approximately $5.55 billion, with production scheduled until 2027/2028 [3] - The company focuses on high-quality, high-end equipment orders, primarily in FPSO/FLNG projects, while non-oil and gas orders are pursued through existing client relationships [3] - Investment in offshore oil and gas projects has been delayed due to macroeconomic uncertainties and high interest rates, with a forecasted release of delayed projects in 2026 and sustained investment peaks through 2027-2028 [3] Group 2: Capacity Planning and Efficiency - The company enhances capacity utilization through fixed asset investments and external collaborations, aiming to improve construction efficiency in segment cutting and welding assembly [3] - A proactive approach in project initiation includes thorough feasibility assessments and leveraging pre-researched project resources to support order acquisition [3] - Establishing long-term partnerships with key equipment suppliers ensures advantages in procurement, safeguarding project timelines [3] Group 3: Digital Transformation and Innovation - The company is advancing digital transformation and AI applications, introducing collaborative robots in shipbuilding and achieving semi-automated process improvements [4] - A comprehensive smart manufacturing plan is being developed to enhance operational efficiency across all processes [4] Group 4: Competitive Advantages - The company boasts a design capability with nearly 4,000 employees, including a dedicated R&D team of about 1,200, and four research centers located in key regions [5] - A one-stop delivery capability is supported by a robust manufacturing and supply chain system, enabling significant advantages in modular construction and cost control [5] - A responsive global supply chain system allows for real-time data sharing with clients, ensuring transparency and collaboration throughout the project lifecycle [6] Group 5: Asset Management and Market Strategy - The offshore asset management business has successfully executed lease contracts, with the sixth-generation semi-submersible drilling platform "Xianjing Yantai" signing five well leases [7] - Future bidding for drilling platforms will focus on global hotspots such as the North Sea, Australia, Brazil, and the Middle East, while also monitoring emerging markets in Asia-Pacific and Latin America [7] - The company aims to leverage its strengths in core equipment, asset management, and market resources to secure high-quality orders and promote healthy business growth [7]

Core Insights - The "Genghai No. 1" modern marine ranch complex in Yantai, Shandong, represents a significant investment of 320 million yuan, yielding an annual harvest of 150,000 kg of high-quality seawater fish and attracting 150,000 visitors, while reducing carbon emissions by approximately 1,000 tons [1] - The project integrates innovative practices such as "fishing-light complementary" and "multi-dimensional cultivation of shellfish and algae," establishing a new paradigm of "marine ranching + ecological restoration + smart tourism" [1] - Financial tools like "marine ranch equipment loans," "carbon sink revenue rights pledge loans," and "smart net box comprehensive insurance" have empowered the transformation of the marine economy [1] Financial Support and Policy Framework - The People's Bank of China Yantai Branch has initiated a "blue-green integration" development strategy, focusing on ecological, low-carbon, and sustainable transitions in the marine economy [2] - Yantai has developed the first national blue finance local standard, which includes a qualitative and quantitative indicator system for marine sub-industries, enhancing the effectiveness of blue finance services [2] - Collaborative measures have been established among various departments to support blue-green integration, including the issuance of financial products that activate blue carbon economic potential [2] Collaborative Efforts - The Yantai Branch has created a financial coordination mechanism with local government departments to facilitate information sharing and project collaboration, establishing a marine industry project database [3] - Financial institutions are encouraged to develop specialized service systems to meet the financing needs of marine industries, with significant loan support for marine ranch projects [3] - A total of 36 specialized marine financial institutions have been established in Yantai to support high-quality development in the marine economy [3] Ecological Value Realization - The integration of blue and green economies in Yantai is not only an economic initiative but also a significant improvement in livelihoods and ecological benefits [4] - The first loan of 4.9 million yuan based on ecological product value has been issued, allowing for the monetization of ecological benefits such as carbon fixation and water purification [4] - A long-term cooperation mechanism has been established to account for ecological product values and apply them in financial contexts, expanding the model to other green development areas [5] Product Innovation - Financial institutions in Yantai are developing innovative financial products to support the high-quality development of the marine economy, including syndicate loans and ecological environment-oriented project loans [6] - A total of 2 billion yuan has been allocated for the first EOD (Ecological Environment-Oriented Development) project loan in the province, facilitating the integration of ecological governance and industrial development [6] - Financial institutions have provided credit support of 2.93 billion yuan for three EOD projects, with 1.361 billion yuan disbursed in loans [6]

Summary of Conference Call Notes Industry Overview - The deep-sea oil and gas development is becoming increasingly cost-competitive, particularly in South America, which is driving a global shift towards deep-sea exploration. By 2024, deep-sea development will account for only 7% of total oil and gas development, yet over 70% of new reserves discovered in the past decade are located in deep-sea areas [1][3]. Key Points and Arguments - **FPSO Importance**: Floating Production Storage and Offloading (FPSO) units are essential for deep-sea oil and gas extraction, providing initial processing capabilities for resources far from shore. Large FPSOs are particularly advantageous in low-cost extraction scenarios in Brazil and Guyana, marking a strategic opportunity for the industry [1][4][5]. - **Impact of Interest Rates**: High-interest rates previously compressed FPSO contractors' profit margins and delayed order releases. The initiation of a Federal Reserve rate-cutting cycle is expected to improve financing conditions, potentially accelerating FPSO order releases and activating projects that have already passed Final Investment Decision (FID) [1][6]. - **Shift in Global Industry Focus**: The global deep-sea oil and gas industry is shifting its focus to Southeast Asia and South America, leading to a supply chain transition towards the Asia-Pacific region. Chinese companies are benefiting from upgrades in technology and manufacturing capabilities, allowing them to handle more complex high-end equipment manufacturing projects [1][7][8]. Beneficiary Companies - Companies expected to benefit from the acceleration of FPSO orders include: - **China International Marine Containers (CIMC)**: High proportion of offshore business, expected to break even in 2025 and achieve a profit increase of approximately 1 billion in 2026 [1][9]. - **China Shipbuilding Industry Corporation**: Responsible for hull construction in some IPSO projects [2][9]. - **Bohai Shipbuilding Heavy Industry**: Focused on the construction of upper modules [2][9]. - **Neway Valve**: Expected to benefit as a white horse company in the IPSO order release [2][9]. - Additionally, equipment suppliers related to FPSO, such as leading oil tree companies, are also expected to benefit from the release of orders [2][9]. Additional Insights - The transition of the global oil and gas development structure towards deep-sea operations is primarily driven by cost changes, with deep-sea oil and gas costs in South America now lower than some high-cost onshore regions, such as Canadian oil sands and North American shale gas [3]. - The strategic importance of FPSOs is underscored by their ability to economically store and process resources in deep-sea environments, where direct pipeline transport is not feasible [5]. - The technological advancements and manufacturing upgrades in Chinese enterprises position them favorably in the current offshore investment cycle, enhancing their profitability and ability to capture growth opportunities [8].