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 ...

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].

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]

天刚破晓，长江入海口的一座岛屿便热闹起来。沪东中华造船（集团）有限公司（以下简称"沪东中 华"）船坞内，LNG（液化天然气）运输船的钢铁骨架初显，橘红与铁灰的船体分段静卧坞中，等待合 拢。放眼全岛，龙门吊群矗立，智能车间灯火通明，这里是我国规模最大、技术最尖端的造船基地—— 上海长兴岛。 从历史船坞到现代基地，上海已形成世界级船舶与海洋工程装备产业集群。作为核心引擎的长兴岛，更 是汇聚了沪东中华、江南造船（集团）有限责任公司（以下简称"江南造船"）等巨头。这座曾铸就中国 近代工业"第一炉钢""第一艘船"的城市，如今承载着引领中国从造船大国迈向强国、在绿色智能浪潮中 探索先进制造业未来路径的使命。 近日，《证券日报》记者走进上海船舶产业集群区，上码头、进船坞、看基地、谈技术、聊产业，一窥 上海船舶产业从建造"钢铁巨鲸"向打造"零碳舰队"转型的密码与基因。 "工业摇篮"攀登产业新高地 上海是中国现代船舶工业的摇篮。1865年，江南机器制造总局在黄浦江畔落下第一块船坞基石，开启中 国近代工业与造船业的先河。历经新中国成立后数十年的重建与发展，上海造船业已从历史起点跃升为 全球版图核心力量。 据船舶经纪公司克拉克森统 ...

Group 1 - The core viewpoint emphasizes the need for enhanced top-level design and increased policy support to catalyze the marine economy sector, with significant stock price increases observed in related companies [1][2] - The marine economy in China is projected to exceed 10 trillion yuan for the first time in 2024, reaching 10,543.8 billion yuan, representing a 5.9% increase from the previous year and accounting for 7.8% of the national GDP [3][5] - Recent policies have been frequently issued in the marine economy sector, with various provinces implementing measures to promote marine new energy, marine equipment, and marine biomedicine [4][5] Group 2 - The marine economy is characterized by a focus on deep-sea infrastructure and resource development, with key areas including shipbuilding, underwater robotics, and oil and gas extraction [2][5] - The marine economy is divided into deep-sea technology and marine consumption, with deep-sea technology encompassing advanced techniques for exploring and utilizing deep-sea resources [6] - The focus on high-end equipment manufacturing in the marine economy includes shipbuilding capabilities for LNG carriers and research vessels, as well as marine engineering equipment for deep-sea aquaculture and wind power installation [6][8]

1. 花旗：油价下半年可能承压。 天然气： 1. LNG运输船数月来首次现身俄罗斯北极LNG 2项目附近。 2. EIA天然气报告：截至6月20日当周，美国天然气库存总量为28980亿立方英尺，较此前一周增加960 亿立方英尺，同比降幅6.3%，同时较5年均值增6.6%。 金十数据整理：每日全球大宗商品市场要闻速递（6月27日） 贵金属和矿业： 1. 供应担忧加剧推动现货铂金一度跃升至2014年以来的最高水平。 原油： 其他： 1. 煤炭价格走弱对亚洲煤炭生产商的信用状况构成压力。 2. 美国能源部长赖特：税收法案最终将导致能源价格上涨。 3. 美媒：特朗普借美欧贸易谈判施压欧盟，力阻石油巨头受气候法规约束。 4. 路透社计算显示，因布油价格走弱，俄罗斯港口乌拉尔原油价格一度跌破价格上限。 5. 美国方面据悉不会在12月之前按计划完成对战略石油储备的交付。拜登政府原计划到5月份完成1580 万桶原油的交付，但截至目前仅交付了约880万桶。 2. 泰国商务部：今年稻米出口有望达到750万吨的目标。 现货铂金 布伦特原油 天然气期货 2. 伦敦金属交易所关键的单日铜价差触及2021年以来的最高水平。 3. 香港特 ...

宏观日报 | 2025-06-26 关注运输业产业集群建设 中观事件总览 生产行业：上海将建设世界级船舶与海工装备产业集群。 1）《上海市海洋产业发展规划（2025-2035）（征求意见 稿）》公开征求意见。其中提到，建设世界级船舶与海工装备产业集群。到2030年，船舶与海工装备产业增加值超 450亿元，大型LNG运输船本土化率提升到85%以上，基本建成原创技术策源和绿色智能引领的世界级船舶与海洋 工程装备产业体系。2）在存储晶圆原厂陆续宣布减产计划背景下，近期存储市场加速回暖，以DDR4为代表的内 存条领涨市场，在传统的IC淡季急速升温。仅间隔两周，DDR4颗粒价格翻倍，甚至部分型号价格已经追平新一代 DDR5。 服务行业：退休金无需缴纳个人所得税。 1）六部门联合印发《关于金融支持提振和扩大消费的指导意见》。其中 提出，强化结构性货币政策工具激励。设立服务消费与养老再贷款，额度5000亿元，对21家全国性金融机构以及5 家属于系统重要性金融机构的城市商业银行发放的服务消费重点领域贷款，可按照贷款本金的100%申请再贷款。2） 6月24日，北京市税务局12366纳税缴费服务热线回应纳税人咨询，表示退休金无需 ...

海洋经济迎来政策利好。 6月25日消息，《上海市海洋产业发展规划（2025—2035）（征求意见稿）》公开征求意见。其中提到，建设世界级船舶与海工装备产业集群。到2030年，船舶与 海工装备产业增加值超450亿元，大型LNG运输船本土化率提升到85%以上，基本建成原创技术策源和绿色智能引领的世界级船舶与海洋工程装备产业体系。 有分析称，海洋经济市场规模庞大，发展空间广阔。经济合作与发展组织（OECD）预测，到2030年，海洋的经济价值将超过3万亿美元。从国内来看，今年以来， 海洋经济呈现向新向好发展前景，一季度海洋生产总值达2.5万亿元，同比增长5.7%。 《意见稿》提出，到2030年，船舶与海工装备产业增加值超450亿元，大型LNG运输船本土化率提升到85%以上，基本建成原创技术策源和绿色智能引领的世界级船 舶与海洋工程装备产业体系。到2035年，船舶与海工装备产业增加值超700亿元，建成综合实力领先、国际影响力强的世界级船舶与海工装备产业集群。到2030 年，上海港集装箱吞吐量、港口连通性指数全球排名稳居第一，海洋交通运输业增加值超1800亿元，新增国际性、国家级航运专业组织和功能性机构1—2家，数智 化 ...

金十数据6月25日讯，上海市海洋局公开征求《上海市海洋产业发展规划（2025-2035）》意见。意见提 出，到2030年，船舶与海工装备产业增加值超450亿元，大型LNG运输船本土化率提升到85%以上，基 本建成原创技术策源和绿色智能引领的世界级船舶与海洋工程装备产业体系。到2035年，船舶与海工装 备产业增加值超700亿元，建成综合实力领先、国际影响力强的世界级船舶与海工装备产业集群。 相关链接 上海：到2030年，船舶与海 工装备产业增加值超450亿元 ...

同时，天津金融监管局集聚金融租赁优势，成功向总局争取以试点方式拓宽金租公司在津项目公司租赁 物范围政策，开展新能源设备、矿山机械、农业机械、卫星等业务试点。其中，新能源设备与卫星等设 备，可直接服务于海上风电、海洋环境监测等重点领域，助力海洋经济可持续发展，增强了金租公司蓝 色金融服务能力。同时，鼓励金租公司支持本地船舶行业发展。截至2025年4月末，天津辖内金租公司 水上交通运输设备资产余额1523.11亿元，较年初增长2.14%，航运聚集效应进一步凸显。 天津金融监管局聚焦机制创新、生态保护、风险保障、重点战略四方面，围绕2025年世界海洋日主题发 布了10个具有典型意义的蓝色金融案例。典型案例覆盖多领域创新。例如，渤海银行天津分行、中国信 保天津分公司与民生金租建立"银行+保险+租赁"协作机制，以"政策性保险+商业金融"协同支持跨境租 赁，融资金额近2亿美元，助力中国船舶制造及高端装备成功出海。天津银行创新落地生态环境导向开 发（EOD）模式贷款，提供5.15亿元项目贷款，以产业盈利反哺生态环境治理。建设银行天津市分行牵 头组建银团贷款，为15万吨级海水淡化工程项目定制综合金融服务方案，总金额9.39亿 ...