CSSC Holdings(SH:600150)2023-08-31 08:26Group 1: Company Performance and Financials - As of June 30, 2023, the company has a backlog of 264 vessels, totaling 19.3378 million deadweight tons [6][16] - The company aims for a revenue target of CNY 60.7 billion for 2023, having achieved CNY 30.5 billion in the first half, meeting half of the target in half the time [7][11] - The gross profit margin has declined due to the delivery of lower-priced vessels and increased material costs [6][11] Group 2: Market Trends and Strategic Direction - The global new ship order volume increased by 0.8% year-on-year, with oil tankers up by 271.5% and bulk carriers down by 5.3% [15] - The company is focusing on high-value orders and transitioning towards mid-to-high-end products in response to market trends [7][15] - The company is actively exploring LNG and other low-carbon fuel options for future vessels, aligning with stricter carbon emission regulations [5][15] Group 3: Investor Concerns and Responses - Investors raised concerns about the impact of currency fluctuations on exchange gains, which have decreased despite a significant depreciation of the yuan [6][11] - The company is addressing the challenges of rising costs for ship engines and materials, indicating that price adjustments may be negotiated with shipowners [11][15] - The company has received inquiries about the potential for mergers or acquisitions to enhance competitiveness in the market [7][15] Group 4: Future Outlook - The company anticipates that high-priced orders will begin to be delivered gradually, with timelines ranging from 16 to 36 months from contract signing [15] - The company is committed to improving management and operational efficiency to enhance production capacity and profitability [11][15] - The company is optimistic about maintaining a healthy development trend in the shipbuilding industry despite external economic pressures [15]