本报记者 梁傲男 据记者了解，7月4日，本次合并重组交易获上交所并购重组审核委员会审核通过，7月8日完成向中国证 监会提交重组方案注册稿。目前，本次合并重组交易尚待中国证监会签发注册批文，并由上交所完成发 行上市安排后，才可正式实施。 中国重工是国内产业链最完整的船舶及海洋装备制造企业之一，也是国内海军舰船装备的主要研制和供 应商。公司主要业务涵盖海洋防务及海洋开发装备、海洋运输装备、深海装备及舰船修理改装、舰船配 套及机电装备、战略性新兴产业及其他等五大业务板块。 中国船舶是全球唯一一家同时在建大型LNG船、大型邮轮的上市公司，在造船国际市场份额持续领 先，公司在手集装箱船、油轮、超大型乙烷运输船（VLEC）、汽车运输船（PCTC）、多用途船、自 卸船等细分船型订单数量均居全球前列。 长江证券研报显示，两家企业合并将助力中国造船业进入高质量发展阶段。重组完成后，中国船舶将成 为全球最大造船上市公司，根据中国船舶、中国重工2024年年报数据，合并后公司手持订单量占全球总 量约15%，造船完工量全球占比超过14%，新签订单量全球占比超过16%。中国船舶合并中国重工后将 减少同业竞争，优化船舶制造板块产业布局，并 ...

中经记者 石健 北京报道 从首艘7500车位液化天然气（LNG）双燃料汽车运输船首航，到天津港第1000艘租赁船舶签约落地， 再到6家金租公司打造价值12亿美元的"联合体"船舶租赁签约……近年来，经略海洋、转身向海成为金 租行业转型的一大特色。 前不久，中央财经委员会第六次会议提出，要推动海运业高质量发展。《中国经营报》记者采访了解 到，近年来，船舶金租在拓展跨境金融租赁、航运融资等方面取得了积极成果。在多位金租业内人士看 来，海洋产业与金融租赁的"融资+融物"属性天然匹配，未来船舶金租行业大有可为。 多元服务海洋经济 今年"七一"前夕，中信金融租赁有限公司（以下简称"中信金租"）与中远海运散货运输有限公司、福建 省船舶工业集团有限公司及下属公司联合在福州举办党建活动。值得注意的是，党建活动的背后，是一 笔涉及8万吨级多用粮食船建造合同和租赁合同的签约。 中信金租相关负责人对记者表示，此次三方合作订造的8万吨级多用途粮食船，通过优化船型设计大幅 提升货舱适货性，实现一船多用。"除满足粮食装载要求外，还适合装运集装箱、工程设备等多种货 物，进一步提升船舶业务高质量发展。" 船舶行业尤其具有重资产、长周期的特点， ...

Core Viewpoint - Both China Shipbuilding (SH600150) and China State Shipbuilding Corporation (SH601989) are expected to report significant year-on-year growth in net profit for the first half of 2025, with China Shipbuilding's profit scale projected to be higher than that of China State Shipbuilding, while the latter's growth rate is anticipated to be faster [1][8]. Group 1: Profit Forecasts - China Shipbuilding anticipates a net profit of between 2.8 billion to 3.1 billion yuan, representing a year-on-year increase of 98.25% to 119.49% [8]. - China State Shipbuilding expects a net profit of between 1.5 billion to 1.8 billion yuan, with a year-on-year growth of 181.73% to 238.08% [8]. Group 2: Reasons for Profit Growth - The profit growth for China Shipbuilding is attributed to increased prices and quantities of delivered civil ships, along with effective cost control [8]. - China State Shipbuilding's profit increase is due to its ability to leverage the shipbuilding industry's development trends, enhance efficiency, and significantly increase the number of civil ship deliveries [9]. Group 3: Industry Trends and Strategic Moves - The shipbuilding industry is experiencing a positive development trend, with both companies optimizing their order structures and improving operational performance [9]. - China Shipbuilding is set to absorb high-quality assets from China State Shipbuilding, aiming to become the largest and most technologically advanced shipbuilding company in China [10]. - The company plans to enhance its deep-sea technology capabilities, which are expected to create new demands in exploration, communication, equipment, materials, and services [11]. Group 4: Future Goals - China Shipbuilding aims to achieve an operating revenue of 80.5 billion yuan in 2025, with specific targets including the completion of 89 civil ships and 270 repair ships [11]. - The company is focusing on high-demand ship types such as large LNG carriers and VLCCs, while also enhancing its capabilities in deep-sea equipment development [11].

作为参考，克拉克森的数据显示，目前一艘13000/14000TEU传统燃料集装箱船新造船价格约为1.51亿美 元，与去年同期持平。 今年年初，HD现代三湖确定的全年接单目标为45亿美元。截至目前，HD现代三湖今年以来承接的新船 订单金额已达到全年接单目标的约76.7%，而这仅仅用了不到100天的时间。 HD韩国造船海洋没有透露船东方面的具体信息，但据外媒消息，这份订单来自韩国长锦商船，新船将 由韩国最大海运公司HMM租赁。 7月8日，韩国HD现代集团造船业务控股公司HD韩国造船海洋宣布，与一家大洋洲地区船东签订了4艘 集装箱船建造合同。 这也是HD现代三湖今年以来承接的第三批集装箱船订单，从而使其今年承接的集装箱船订单达到了10 艘。4月28日，HD韩国造船海洋宣布与希腊船王Evangelos Marinakis旗下的核心航运公司Capital Maritime签订了4艘8400TEU集装箱船的建造合同，合同总金额5.6亿美元（约合40.4亿元人民币），相 当于单船造价1.4亿美元，将在HD现代三湖建造，计划在2028年6月底之前陆续交付。5月30日，HD韩 国造船海洋宣布，与签订了2艘8400TEU集装箱船 ...

Economic Development - The economic strength of the country has significantly increased, with the total economic volume expected to reach around 140 trillion yuan this year, contributing approximately 30% to global economic growth [3][9] - The average economic growth rate over the past four years has been around 5.5%, demonstrating resilience against various risks and challenges [3][9] Innovation Drive - The "14th Five-Year Plan" emphasizes innovation, with R&D investment reaching a new high, increasing nearly 50% compared to the end of the "13th Five-Year Plan," amounting to 1.2 trillion yuan [4][5] - Major technological breakthroughs include the launch of the first domestically produced aircraft carrier and the first Chinese space station, showcasing advancements in various sectors [4][5] Green Development - The country has established the world's largest clean power generation system, with renewable energy generation capacity historically surpassing coal power [8][10] - The forest coverage rate has increased to over 25%, contributing to a significant portion of global greening efforts [7][8] Safety Assurance - The country has built the largest power infrastructure system globally, with installed capacity accounting for one-third of the world's total, ensuring energy security during peak demand periods [9][10] - The establishment of over 10 million acres of high-standard farmland has strengthened food security [9] Governance Efficiency - The business environment has improved significantly, with the number of private enterprises increasing by over 40% compared to the end of the "13th Five-Year Plan" [6] - The ability to mobilize resources and respond to emergencies has been enhanced, as demonstrated by rapid disaster response efforts [6] Social Welfare - The country has built the largest education, social security, and healthcare systems globally, with participation rates in basic insurance exceeding 95% [5] - The average life expectancy has reached 79 years, reflecting improvements in public health and welfare [5]

Core Viewpoint - The sinking of the "Morning Midas" car carrier has highlighted the risks associated with transporting electric vehicles by sea, particularly regarding lithium battery fires, and has raised concerns about the adequacy of current shipping practices and regulations in the industry [1][8][11]. Group 1: Incident Overview - The "Morning Midas" car carrier sank on June 23 after a fire led to flooding, carrying approximately 3,159 vehicles, including 65 electric vehicles and 681 hybrid vehicles [1][3]. - The vessel had departed from Yantai Port on May 26 and was scheduled to arrive in Mexico on June 15 [1]. Group 2: Industry Context - Roll-on/roll-off (RoRo) ships like the "Morning Midas" are specialized for transporting vehicles, but they have been involved in multiple fire incidents in recent years, raising concerns about safety [2]. - The shipping industry is currently facing a mismatch between the rapid growth of electric vehicle exports and the availability of suitable vessels for their transport [11][22]. Group 3: Technical Aspects of Transporting Electric Vehicles - Two primary methods exist for transporting electric vehicles: using containers or specialized RoRo ships. The latter allows for easier loading but poses higher risks if a fire occurs [4][5]. - The design of RoRo ships may not adequately account for the unique risks posed by lithium batteries, which can ignite under certain conditions, leading to severe fires that are difficult to extinguish [10][12]. Group 4: Market Dynamics - The current shipping market is characterized by a lack of vessels designed for the safe transport of electric vehicles, leading to increased risks and potential losses for shipping companies and manufacturers [11][22]. - The incident reflects broader issues in the shipping industry, including the dominance of British firms in maritime insurance and ship classification, which may complicate claims and liability processes for Chinese companies involved [14][26][28]. Group 5: Future Opportunities - The rise of Chinese companies in the shipping industry, particularly in shipbuilding and logistics, presents an opportunity to address the current inadequacies in the market and improve safety standards for transporting electric vehicles [22][25]. - Recent developments, such as the launch of advanced car carriers by Chinese firms, indicate a shift towards better-equipped vessels that can mitigate the risks associated with transporting electric vehicles [23][24].

NO.1 广东用电负荷创历史新高 据"广东发布"微信公众号7月8日消息，7月7日13时41分，广东电网系统负荷今年第一次创新高，达到15974万千瓦，比2024年最高系 统负荷增长1.94%。迎峰度夏以来，广东9个地市负荷均创历史新高。 点评：广东作为全国经济强省，用电负荷是经济活跃度的重要晴雨表，这一数据从侧面反映出区域经济的活力与韧性。 NO.2 超级汽车运输船完成跨洋首航回深 据"深圳发布"微信公众号7月8日消息，全球超级汽车运输船比亚迪"深圳号"完成跨洋首航，7月7日首次回家，抵达深圳小漠国际物流 港。这艘总长219米、可装载9200辆汽车的"海上巨无霸"于7月8日搭载6800余辆新能源汽车，再次起航赶赴欧洲。 点评：2025年中国汽车出口延续增长趋势，随着比亚迪由8艘滚装船组成的"出海舰队"加速投用，中国新能源汽车在全球市场强力崛 起。 NO.3 广东会商研判第三季度防控重大风险形势 据南方网7月8日消息，广东省有关部门近日对2025年第三季度全省防控重大风险形势进行综合会商研判。综合会商认为，预计后汛 期（7—9月）广东省降水总体呈西多东少趋势，珠三角和粤西地区偏多1—2成，其余地区偏少1—2成； ...

公司报告 | 公司专题研究 大金重工（002487） 证券研究报告 打造"制造+服务"全产业链生态，管桩出海实现利润升维 行业层面：未来 3-5 年欧洲海风市场潜力与政策红利较大，是公司全球化 布局的优质战略高地，市场份额提升空间大。日韩等新兴市场或将为公司 带来新的增长机会。 公司层面：管桩出海布局领先，打造"制造+服务"全产业链生态模式 随着全球风机大型化和深远海开发发展趋势，叠加海外项目的高交付标 准、高附加值特点，对供应商在制造场地规模、港口条件、工艺设备能力、 综合方案解决能力等提出了更高的要求。配套缺口带来的服务机遇，将为 公司订单增长提供支撑。 1）公司是亚太区唯一实现海工产品交付欧洲市场的供应商。自 2019 年率 先成功开拓欧洲海风市场，2022 年开始连续斩获多个海外项目订单，2024 年公司全面进入欧洲海风市场，成功通过绝大多数欧洲头部业主的合格供 应商体系认证，并作为"一供"或"主供"形成实质性业务合作，覆盖欧 洲海风市场头部前五大业主，在手订单充足。 2）公司完成 DAP（目的地交货）产品模式切换，打通"制造+海运+交付" 一站式服务全链条，订单的附加值得以增加。针对海上风电装备运输 ...

我国高技术制造业增加值占规上工业的比重从2020年的15.1%提高到今年一季度的15.7%。创新这一"关 键变量"，加速转化为新质生产力的"最大增量"。 飞天！"嫦娥六号"实现人类首次月球背面采样返回，国产大飞机C919累计交付21架，长征十二号运载 火箭发射成功； 入海！大洋钻探船"梦想"号正式入列，超大型液化天然气运输船出口订单不断； ………… 今年5月，习近平总书记在河南洛阳轴承集团股份有限公司考察时指出："我们坚持走自主发展实业的道 路，靠自己的力量发展工业、制造业，这条路是走对了！" 近年来，以先进制造业为骨干的现代化产业体系加快构建，新型工业化迈出新的坚实步伐，制造强国建 设取得新进展。我国全年全部工业增加值由2020年的31.3万亿元增长至2024年的40.5万亿元，制造业总 体规模连续15年保持世界第一。中国制造彰显出的坚实底气、创新动能、澎湃活力，为推进中国式现代 化提供有力支撑。 攻坚，关键核心技术不断突破，产业链供应链韧性和安全水平不断提升—— 北斗三号汇集全国400多家单位联合攻关，通过星间链路技术实现"太空搭桥"，建成由数十颗卫星编织 成的"天罗地网"。 从无到有，服务全球。如今北斗 ...

Core Viewpoint - The acquisition of a 51% stake in Colombo Dockyard by Mazagon Dock Limited (MDL) marks a significant step in the internationalization of India's shipbuilding industry, representing the first cross-border acquisition by a major Indian shipbuilding company [1][2]. Group 1: Acquisition Details - MDL announced the acquisition for $52.96 million, primarily through purchasing shares from Japan's Onomichi Dockyard and subscribing to new shares [1]. - Colombo Dockyard, established in 1974, is Sri Lanka's largest and oldest shipbuilding and repair company, with four dry docks capable of handling vessels up to 125,000 tons [1]. Group 2: Financial Context - Colombo Dockyard faced financial difficulties, reporting a record loss of $38 million in 2023, prompting its largest shareholder, Onomichi Dockyard, to seek an exit [1][2]. - Despite losses, the shipyard has a customer base across Europe, Asia, and Africa, with an order backlog of approximately $300 million [2]. Group 3: Strategic Implications - The acquisition is expected to enhance MDL's commercial shipbuilding capabilities, complementing its role as a significant manufacturer of naval vessels [2]. - By integrating Colombo Dockyard's customer resources and repair expertise, MDL aims to strengthen its service capabilities in the Indian Ocean region and improve competitiveness in the international commercial shipping market [2]. Group 4: Government Initiatives - The Indian government has set a goal to become one of the top five shipbuilding nations by 2047, with plans to build medium-sized container ships by 2030 and large vessels by 2032 [3]. - A $3 billion Maritime Development Fund has been established to finance ship acquisitions, aiming to increase India's share in global shipping to 20% by 2047 [3]. Group 5: Support for Domestic Shipbuilding - The Indian government is implementing a tiered subsidy policy for shipbuilding, offering 20% to 30% subsidies for different types of vessels, alongside a $700 million investment to upgrade shipyard facilities [4]. - Plans include modernizing major ports and enhancing infrastructure to support the shipbuilding industry [4]. Group 6: Current Challenges - Despite ambitions, India's shipbuilding industry currently holds less than 0.2% of the global order book, with the largest domestic oil tanker only capable of carrying 93,000 tons, indicating a significant gap in capabilities for larger vessels [5]. - The industry faces challenges such as a weak foundation, insufficient capacity for large commercial vessels, and a lack of domestic demand [5].