印度的造船业正在以令人惊叹的速度发展。印度总理莫迪在10月底于孟买举行的国际海事展上表示，印度的造船业正在迅速崛起，这番话让许多印度人感到 非常振奋和鼓舞。 即便如此，印度即使得到了韩国的支持，仍然不可能在未来22年内赶超中国，成为全球领先的造船大国。这不仅仅是因为技术差距，更因为两国的政治体制 和发展路径截然不同。 那么，为什么中国能够超越韩国和日本，成为世界最大的造船大国呢？中国造船业之所以能够取得如此成就，主要有以下几点原因： 目前全球的主要造船大国是中国、韩国和日本，三者的造船产量占到了全球的九成，而印度的市场份额仅占1%。印度政府的目标是在2047年，即印度建国 百年的时候，将其造船业产量提升至全球市场的20%。如果印度能够达成这一目标，也许能超过日本，但超越韩国几乎不可能，至于超过中国更是遥不可 及，因为到那时，中国的造船业依然有很大的优势，仍将保持全球领先地位。 值得注意的是，印度的造船业实际上依赖于外国的支持，尤其是韩国和日本。位于印度的科钦造船基地，得到了日本三菱重工的帮助，经过10年的建设，才 打造出一个主要生产小型船只的造船厂。根据规划，从2019年到2024年，这个造船厂每年将建造5艘 ...

Core Viewpoint - The company has initiated a "Quality Improvement and Efficiency Enhancement" action plan for shareholder returns from 2024 to 2026, focusing on improving operational quality and shareholder returns through various strategic initiatives [1][2]. Group 1: Operational Performance and Growth - The company aims to become a world-class shipping enterprise with core competitiveness, currently owning the world's largest fleet of super oil tankers (VLCC) and very large ore carriers (VLOC), along with a leading LNG fleet and a unique roll-on/roll-off fleet [1]. - The company has made significant investments in digital transformation, enhancing its digital supply chain capabilities, which has led to stable and improving operational performance, with a record quarterly revenue of 6.503 billion yuan and a net profit of 1.738 billion yuan [2]. - The company has received 7 patents and 43 software copyrights, reflecting its commitment to innovation and technology [2]. Group 2: Shareholder Returns and Investor Relations - The company has consistently increased its dividend payouts, with a total dividend of 2.56 yuan per 10 shares in 2024, amounting to 2.079 billion yuan, and a dividend payout ratio of 40.70% [2]. - The company has initiated a share buyback program with a budget between 222 million yuan and 443 million yuan, successfully repurchasing shares at an average price of 6.40 yuan per share [3]. - The company emphasizes transparent communication with investors, participating in roadshows and quarterly earnings calls to enhance investor understanding of its strategies and market value [4]. Group 3: Environmental and Technological Initiatives - The company is committed to green shipping technologies, investing in environmentally friendly materials and clean energy technologies, and has launched the "Ship Carbon Intelligence" project for carbon management [4]. - The company has invested 329 million yuan in environmental initiatives in 2024, achieving a 4.8% increase in vessel turnover while reducing energy consumption and carbon emissions [5]. - The company is exploring new energy technologies, including the development of the world's first dual-wing powered super oil tanker and a methanol dual-fuel VLCC [5]. Group 4: Corporate Governance and Accountability - The company has revised its independent director system, ensuring over 60% representation in key committees to enhance decision-making quality [6]. - The company has updated 24 governance documents in accordance with new regulations, improving its governance framework [6]. - The company has established a multi-dimensional assessment mechanism linking executive compensation to performance, promoting high-quality development [6].

Core Insights - The marine economy in China is projected to exceed 10 trillion yuan in 2024, marking a 5.9% increase from the previous year, and accounting for 7.8% of the national GDP [7] - The shipbuilding industry has achieved over 50% market share in new ship orders, completed ships, and hand-held orders internationally for the first time [10] - The marine aquaculture sector is evolving into a modern "grain warehouse," with a 4.0% increase in marine fishery value added in 2024 [12] - The offshore wind power industry is experiencing significant growth, with a nearly 30% increase in electricity generation in 2024 [15] Shipbuilding Industry - The Jiangnan Shipyard is set to deliver over 10 LNG ships this year, with a total of approximately 60 LNG ship orders valued at around 150 billion yuan [9] - The shipbuilding industry is focusing on green technology, with a carbon capture system achieving over 80% CO2 capture rate [9] - The marine engineering equipment manufacturing sector has seen new orders increase by 57.1% and delivery orders by 114.3% year-on-year [10] Marine Aquaculture - The "Yenghai 1" marine ranch in Shandong has doubled its yield through integrated seaweed and oyster farming [11] - The development of modern marine ranches is expanding into deeper waters, with average offshore distances increasing from 10 km to 18 km since 2018 [12] - The marine fishery sector's output is expected to reach 4,880 billion yuan in 2024, reflecting a 4.0% growth [12] Offshore Wind Power - The offshore wind power sector is entering a new phase of large-scale development, with significant advancements in technology and capacity [15] - The total electricity generation from offshore wind power is expected to grow by nearly 30% in 2024 [15] - The establishment of a complete industrial chain for offshore wind power equipment is underway, with 35 projects covering various components [14] Emerging Marine Industries - The marine new industries are projected to grow by 7.2% in 2024, with significant advancements in marine pharmaceuticals and bioproducts [15] - The establishment of innovation platforms in marine engineering, offshore wind power, and marine pharmaceuticals is being actively pursued [15] - The marine economy is transitioning from quantitative growth to qualitative improvements, enhancing resource supply and sustainable development capabilities [13][16]