Core Viewpoint - The company has a strong order backlog scheduled until 2029 and is in the process of a significant asset restructuring through a stock swap merger with China Shipbuilding Industry Corporation, which is expected to enhance its market, scale, and capacity advantages [1] Group 1: Company Operations - The company's revenue primarily comes from shipbuilding and offshore engineering construction, both of which are based on order fulfillment [1] - The current order backlog is scheduled to last until 2029, indicating robust demand and operational stability [1] Group 2: Strategic Moves - The company is advancing a major asset restructuring by merging with China Shipbuilding Industry Corporation through a stock swap [1] - Upon completion of the restructuring, the company anticipates an enhancement in market advantages, further leveraging scale and releasing capacity advantages [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]

Industry Overview - The Chinese shipbuilding industry continues to maintain its global leadership, with ship completion volume accounting for 55.7% of the world market share, new orders at 74.1%, and backlog orders at 63.1% [1] - In April, Chinese shipyards again ranked first globally in new ship orders, indicating a positive outlook for the Chinese shipbuilding market [1] Company Developments - China Shipbuilding Group organized a collective performance briefing for its 12 listed companies, discussing production operations, reform achievements, and future development prospects [1] - The merger between China Shipbuilding and China Heavy Industry aims to eliminate competition between the two companies and enhance their competitiveness in the international market [3][4] - Post-merger, China Shipbuilding will position itself as the largest and most technologically advanced shipbuilding flagship company in China, focusing on value creation and resource integration [4] Market Trends - The demand for green ship types is being supported by multiple regulations promoting green development, accelerating the shipbuilding industry's transition to greener technologies [2] - The global shipbuilding industry is expected to continue its growth cycle, driven by factors such as tight production capacity, periodic fleet renewal demands, and accelerated decarbonization efforts in the maritime industry [2] Order and Production Insights - China Shipbuilding and China Defense both report a robust order backlog, with delivery schedules extending to 2029, indicating strong future revenue potential [6] - China Defense has seen significant market expansion, with a focus on improving production efficiency and reducing key construction cycle times to enhance profitability [6] Strategic Focus - Companies are emphasizing the importance of aligning with customer needs, enhancing communication, and diversifying market opportunities to foster new growth drivers [7] - Continuous reform and value management are being prioritized to enhance overall corporate strength and investment value [7]

5月20日下午，在中船集团控股上市公司2024年度集体业绩会上， 中国船舶董事、总经理施卫东向投资 者介绍，公司 营业收入主要来源于船舶及海工建造收入，船舶及海工均为订单建造，公司手持订单已 排期至2029年。公司根据手持订单交付计划、生产任务安排等确定收入目标，同时努力提高生产效率， 争取早交船、多交船。他同时指出，当前全球 造船市场处于发展新周期，我国船舶工业保持良好发展 态势，造船工业三大指标实现全面增长，国际市场份额保持全球领先，展现出充分的市场竞争力与发展 韧性。 ...