According to the transaction plan, China Shipbuilding will issue A – shares to all shareholders of China Shipbuilding Industry Corporation (CSIC) in exchange for shares to absorb and merge CSIC. The exchange price of China Shipbuilding is set at 37.84 yuan per share, which is the average trading price of the stock in the 120 trading days before the pricing benchmark date. The exchange price of CSIC is 5.05 yuan per share, and the initial share exchange ratio is 1:0.1335.
According to media reports, China Shipbuilding Industry Co., Ltd. (601989.SH, referred to as “CSIC”) issued an announcement, announcing that it will be absorbed and merged by China Shipbuilding Industry Co., Ltd. (600150.SH, referred to as “China Shipbuilding”) by issuing A – shares.
As a listed company of the core military and civilian products main business of China State Shipbuilding Corporation, China Shipbuilding covers businesses such as shipbuilding, ship repair, marine engineering and mechanical and electrical equipment, and owns core enterprises such as Jiangnan Shipyard and Waigaoqiao Shipbuilding.
CSIC is a leading listed company in ship research, development, design and manufacturing. Its main businesses include five major sectors: marine defense and marine development equipment, marine transportation equipment, deep – sea equipment and ship repair and modification, ship supporting and mechanical and electrical equipment, strategic emerging industries and others. Both belong to China State Shipbuilding Corporation, which was formed by the joint reorganization of the former China Shipbuilding Industry Corporation and China Shipbuilding Heavy Industry Corporation in 2019. They have a high degree of business overlap in ship manufacturing, repair and other fields, and there is a problem of horizontal competition.
In order to fulfill China State Shipbuilding Corporation’s commitment to solve the problem of horizontal competition by June 30, 2026, China Shipbuilding and CSIC officially launched this absorption and merger transaction in September 2024.
According to the transaction plan, China Shipbuilding will issue A – shares to all shareholders of CSIC in exchange for shares to absorb and merge CSIC. The exchange price of China Shipbuilding is set at 37.84 yuan per share, the average trading price of the stock in the 120 trading days before the pricing benchmark date. The exchange price of CSIC is 5.05 yuan per share, and the initial share exchange ratio is 1:0.1335. Later, due to the equity distribution, the share exchange ratio was adjusted to 0.1339 shares of China Shipbuilding for every 1 share of CSIC. The transaction amount is as high as 115.15 billion yuan, which constitutes a major asset reorganization for both parties.
After the merger, the scale of the new company will expand significantly. Based on the 2024 financial data, the total assets after the merger will exceed 400 billion yuan, and the operating income will exceed 130 billion yuan.
In terms of orders on hand, as of the end of 2024, China Shipbuilding had 322 civil ship orders on hand (24.6107 million deadweight tons, worth 216.962 billion yuan); CSIC had 216 orders on hand (30.3097 million deadweight tons, a year – on – year increase of 53.2%), and the total amount of orders on hand in all business sectors was 233.768 billion yuan.
The integrated company will rank first among global shipbuilding enterprises in terms of asset scale, operating income and the number of orders on hand, becoming the world’s largest listed shipbuilding company.
Specific information of automatic assembly line wholesale factories
Aluminum case watch automatic assembly line wholesale factories
