BESTWAY(SZ:300008)2025-11-17 01:06Revenue and Profitability - The company's revenue has grown from over 500 million in 2020 to approximately 4 billion in 2024, driven by the recovery of the shipbuilding industry and the company's strategic focus on offshore engineering projects, capturing about 30-40% of the market for wind power installation platforms [1][2] - The gross margin improved significantly from around 10% in 2022-2023 to approximately 20% currently, due to better pricing power and increased production efficiency through standardized and centralized manufacturing [2] Market and Order Insights - The company currently holds orders worth approximately 14 billion, with about 25% from offshore engineering projects and 75% from transportation vessels, primarily small to medium-sized multi-purpose and handy-sized bulk carriers [5][6] - The majority of transportation vessel orders come from the European market, while domestic orders are limited due to competition from state-owned shipyards [4] Strategic Focus and Future Outlook - The company aims to leverage the favorable market conditions and government support for the marine economy to achieve steady growth in performance [6] - A new strategic plan is being developed as the current one is set to expire in 2025, with a continued focus on core shipbuilding and marine operations [6]