公司A股股东的股票账户中不再显示中国重工A股股票，直至中国重工A股股票转换为中国船舶A股股票并完成新增A股股份上市的相关手 续后，中国重工换股股东持有的中国重工股票将按照换股比例转换为中国船舶为本次换股吸收合并所发行的A股股票。 制图：佘诗婕 总资产超4000亿 根据此前公布的方案，中国船舶（600150.SH）将以37.84元/股的发行价向中国重工股东发行A股，换股比例调整为每1股中国重工股票 换0.1339股中国船舶股票，交易金额达1151.50亿元。 星标 ★ IPO日报 精彩文章第一时间推送 9月1日晚间，中国船舶重工股份有限公司（以下简称"中国重工"，601989.SH）公告称，公 司A股股票将于2025年9月5日终止上市。 因属于主动终止上市情形，公司A股股票不进入退市整理期交易。 截至9月2日收盘，中国船舶股价报38.45元/股，市值达1720亿元。中国重工自8月13日起停牌，停牌前市值为1163亿元。两家公司市 值合计超过2800亿元。 吸收合并案例增加 回顾这起吸收合并，去年9月，中国船舶首次披露了该起吸收合并计划。 今年1月，国务院国资委等主管部门批复同意总体方案。 据悉，中国重工成立于2 ...

Group 1 - The Shanghai Composite Index rose by 0.13% to close at 3771.1 points, while the Hang Seng Index fell by 0.24% to close at 25104.61 points [1] - China Shipbuilding Defense's A-H share premium reached 98.32%, ranking 29th among A-H shares [1] - The closing price for China Shipbuilding Defense's A-shares was 28.9 yuan, down 0.41%, and H-shares were 15.86 HKD, down 0.31% [1] Group 2 - China Shipbuilding Defense Equipment Co., Ltd. is a major shipbuilding enterprise under China Shipbuilding Group, with its origins tracing back to Guangzhou Shipyard International Co., Ltd. [1] - The company was listed in Shanghai and Hong Kong in 1993, becoming the first A+H share listed shipbuilding enterprise in China [1] - To promote industry consolidation and enhance competitiveness, China Shipbuilding Defense acquired several companies in 2014 and 2015, integrating quality shipbuilding assets in South China [1] - The company aims to become a leading enterprise in the global marine and heavy equipment market, focusing on technology and service excellence [1]

Core Viewpoint - The article discusses the performance of the Shanghai Composite Index and the Hang Seng Index on August 18, highlighting the significant premium of China Shipbuilding Defense's A-shares over its H-shares, indicating a potential investment opportunity in the company [1][2]. Company Overview - China Shipbuilding Defense is a major shipbuilding enterprise under China Shipbuilding Group, originally established as Guangzhou Shipyard International Co., Ltd. It was the first company in China to be listed on both A-shares and H-shares in 1993 [1]. - The company has undergone strategic acquisitions in 2014 and 2015, integrating high-quality shipbuilding assets in South China, which has enhanced its competitiveness in the marine defense and equipment sector [1]. Market Performance - On August 18, the A-shares of China Shipbuilding Defense closed at 29.54 yuan, with a rise of 2.0%, while the H-shares closed at 16.82 HKD, increasing by 2.81% [1]. - The A/H premium for China Shipbuilding Defense reached 91.33%, ranking it 30th among A/H shares, indicating that H-shares are relatively cheaper compared to A-shares [1][2]. Strategic Vision - The company aims to become a leading enterprise in the global marine and heavy equipment market, focusing on technological advancement and excellent service [1].

Group 1 - The Shanghai Composite Index rose by 0.48% to close at 3683.46 points, while the Hang Seng Index increased by 2.58% to 25613.67 points [1] - China Shipbuilding Defense's A-H share premium reached 93.32%, ranking 33rd among A-H shares [1] - At the close, China Shipbuilding Defense's A-shares were priced at 29.37 yuan, with a gain of 0.17%, and H-shares were priced at 16.62 HKD, up by 2.09% [1] Group 2 - China Shipbuilding Defense Equipment Co., Ltd. is a major shipbuilding enterprise under China Shipbuilding Group, originally established as Guangzhou Shipyard International Co., Ltd. [1] - The company was listed in Shanghai and Hong Kong in 1993, becoming the first A+H share listed shipbuilding company in China [1] - To promote industry consolidation and enhance competitiveness, China Shipbuilding Defense acquired several companies in 2014 and 2015, integrating quality shipbuilding assets in South China [1] - The company aims to become a leading enterprise in the global marine and heavy equipment market, focusing on technology and service excellence [1]

Group 1 - The Shanghai Composite Index rose by 0.45%, closing at 3633.99 points, while the Hang Seng Index increased by 0.03%, closing at 24910.63 points [1] - China Shipbuilding Defense's A-H share premium reached 87.7%, ranking 38th among A-H share premium rates [1] - At the close, China Shipbuilding Defense's A-shares were priced at 30.6 yuan, with a gain of 7.41%, and H-shares were priced at 17.8 HKD, up by 7.75% [1] Group 2 - China Shipbuilding Defense Equipment Co., Ltd. is a major shipbuilding enterprise under China Shipbuilding Group, originally established as Guangzhou Shipyard International Co., Ltd. [1] - The company was listed in Shanghai and Hong Kong in 1993, becoming the first A+H share listed shipbuilding enterprise in China [1] - To promote industry consolidation and enhance competitiveness, China Shipbuilding Defense acquired several companies in 2014 and 2015, integrating quality shipbuilding assets in South China [1] - The company aims to become a leading enterprise in the global marine and heavy equipment market, focusing on technology and service excellence [1]

Group 1 - The largest restructuring in the global shipbuilding industry is entering a critical phase, with China Shipbuilding Industry Co., Ltd. (referred to as "China Shipbuilding") announcing an absorption merger with China Shipbuilding Heavy Industry Co., Ltd. (referred to as "China Heavy Industry") through the issuance of A-shares [1] - The merger has received approval from the China Securities Regulatory Commission, and after completion, China Heavy Industry will lose its independent legal status and apply for delisting from the Shanghai Stock Exchange, with trading of its shares ceasing on August 13, 2025 [1] - China Shipbuilding, as the core listed company of China Shipbuilding Group, focuses on shipbuilding, ship repair, marine engineering, and electromechanical equipment, encompassing well-known enterprises such as Jiangnan Shipyard and Waigaoqiao Shipbuilding [1] Group 2 - The transaction plan indicates that China Shipbuilding will complete the merger by issuing A-shares to all shareholders of China Heavy Industry, with exchange prices set at 37.84 yuan/share for China Shipbuilding and 5.05 yuan/share for China Heavy Industry, resulting in a total transaction amount of 115.15 billion yuan [3] - Following the merger, the total assets of the combined entity are estimated to exceed 400 billion yuan, with operating revenue surpassing 130 billion yuan, and the order backlog expected to rank first globally [3] Group 3 - Financial data shows that China Shipbuilding's net profit attributable to shareholders is expected to be between 1.68 billion yuan and 1.85 billion yuan in the first half of 2025, representing a year-on-year increase of over 227.71% to 261.76% [4] - China Heavy Industry is projected to achieve a net profit of 1.05 billion yuan to 1.25 billion yuan in the same period, successfully turning a profit [4]