On the evening of July 1, China Heavy Industry, China Coast Defense, Jiuzhiyang, China Power, China Emergency, China Shipbuilding Defense, China Shipbuilding Technology, and China Shipbuilding Corporation announced all the announcements.

Category：hotcomm

2025-04-22

Daily Finance exclusive, quickly follow

The "Chinese magic ship" that has been waiting for many years is finally coming!

html On the evening of July 1, 8 listed companies under North and South Shipbuilding, China Heavy Industry , China Coast Defense, Jiuzhiyang, China Power, China Emergency, China Shipbuilding Defense , China Shipbuilding Technology, China Shipbuilding , and China Shipbuilding , all announced that they received a notice from the controlling shareholder: China Shipbuilding Heavy Industry Group Co., Ltd. is planning a strategic reorganization with China Shipbuilding Industrial Group Co., Ltd., the relevant plan has not been determined yet, and the plan also needs to be approved by the relevant competent authorities.

Industry insiders analyzed that after the group level reorganization is completed, listed companies under North and South Shipbuilding may re-dividate their business according to professional sectors. Affected by the news of the merger of North and South ships, the merger of North and South ships has risen by 50% since the beginning of this year, and many individual stocks have doubled.

North and South Ship Planning Strategic Reorganization

It is worth noting that 8 listed companies including China Heavy Industry and China Ship have not been suspended. All 18 listed companies in

html said that the strategic restructuring of the controlling shareholder is in the planning stage, and the relevant matters are uncertain, so investors are advised to pay attention to investment risks.

News about the merger of North and South ships has been repeatedly circulated since 2015. Entering 2019, the statements of relevant ministries and commissions have shown signs of accelerated implementation of the merger.

During this year's Two Sessions, Xiao Yaqing, then director of the State-owned Assets Supervision and Administration Commission, once said that he should actively and steadily promote strategic restructuring in the fields of equipment manufacturing and shipbuilding. On April 16, Secretary-General of the State-owned Assets Supervision and Administration Commission Peng Huagang said at a press conference of the State Information Office that the merger of north-south ships involves listed companies, "in accordance with relevant rules, when it can be announced, the company will definitely announce it in accordance with relevant rules and requirements."

In May this year, China Shipbuilding Industry Corporation held a meeting to promote the integration and restructuring work, saying that it will promote the integration and restructuring work as a whole from the perspective of short-term and long-term development.

North and South ships are also accelerating the capital operation within their respective systems.

On the one hand, on March 29, China Shipbuilding Industry Group (South Shipbuilding) included the total shipbuilding assembly assets such as Jiangnan Shipbuilding, Guangchuan International, Huangpu Wenchong and other shipbuilding China Shipbuilding , and placed shipbuilding power assets such as Hudong Heavy Machinery, China Shipbuilding Power, China Shipbuilding Power Research Institute, and China Shipbuilding Mitsui Shipbuilding Diesel Engine into China Shipbuilding Defense .

On the other hand, China Shipbuilding Heavy Industry Group (Bei Shipbuilding) has also begun to accelerate the capital operation of its listed company China Heavy Industry , injecting China Shipbuilding Heavy Industry (Qingdao) Rail Transit Equipment Co., Ltd. into the listed company to absorb new high-quality assets. At the same time, through bankruptcy liquidation, it clears out its non-performing assets.

Listed companies may be re-divided according to professional sectors

China Shipbuilding Industry Group and China Shipbuilding Industry Heavy Industry are commonly known as "North and South Shipbuilding Industry", and were split from the original Shipbuilding Industry Corporation in 1999.

Beishu Group has the business layout of the most complete ship industry chain in my country, from military and civilian product design, supporting facilities, construction, to repair and modification, and has business distribution in all aspects of the ship's entire life cycle. It has 5 listed companies, 48 industrial enterprises, 28 scientific research institutes, etc. In 2017, Beichuan Group achieved revenue of 300.292 billion yuan and net profit attributable to shareholders was 4.841 billion yuan.

Nan Shipbuilding Group currently has six major business segments, including: shipbuilding and repairing, marine engineering, power equipment, electromechanical equipment, information and control, and productive modern service industries. It has 3 listed companies, 31 industrial enterprises, 9 scientific research institutes, etc. In 2017, Nanshang Group achieved revenue of 201.386 billion yuan and net profit attributable to shareholders of 2.506 billion yuan.

Guojin Securities Research Report believes that the north and south ship operations have their own emphasis, the north ship focuses on ship design and supporting facilities, and the south ship construction capacity is relatively outstanding.

North Shipbuilding assets concentrate the vast majority of my country's ship system design, especially military ships. Among the three industrial chains of upstream design, midstream manufacturing assembly, and downstream core supporting facilities, 80%-90% of the upstream and downstream are North Shipbuilding; the construction capacity of the South Shipbuilding is relatively more prominent, with Waigaoqiao Shipbuilding, which ranks the top ten in the world in terms of new orders, and Jiangnan Shipbuilding, China's oldest warship manufacturer. In recent years, most of my country's naval ships have been designed and equipped with northern ships and built and assembly of southern ships.

Beichuan has built three major professional asset integration platforms according to the idea of "listing by sector" - China Heavy Industry (maritime equipment assembly platform), China Power (comprehensive power platform), China Coast Defense (maritime information and ship electronic platform), and it also has two major listed companies, China Emergency (emergency transportation equipment) and Jiuzhiyang (optical and electrical equipment); the three listed companies of Nanchuan have also integrated according to their business segments, China Ship (maritime equipment assembly listing platform), China Ship Defense (maritime power listing platform), and China Ship Technology (high-tech asset listing platform).

Hu Keyi, chief engineer of Jiangnan Shipbuilding Group, which belongs to China Shipbuilding Group, previously told the media that this strategic restructuring of shipbuilding does not necessarily simply merge the company based on the original split, but should be the merger and integration of functions and professionals. Industry insiders analyzed that after the group level restructuring is completed, listed companies under North and South Shipbuilding will also re-dividate their business according to professional sectors. The three major impacts of the merger of

is affected by the news of the merger of North and South ships. Since the beginning of this year, the merger of North and South ships concept stocks have risen one after another, and many individual stocks have doubled. From the beginning of the year to April 18, the North-South Ship Merger Index rose 85%, and the stock price then pulled back. From June 10 to the present, the concept of north-south ships has begun to warm up, and the north-south ship merger index has risen by 16.4%.

CITIC Construction Investment Research Report believes that the merger of north-south ships mainly has three aspects:

First, it is conducive to optimizing capacity resources and effectively removing excess capacity. After the merger of the two ships, the industry positioning and main construction ship types of each shipyard may be repositioned, effectively eliminating duplicate low-end production capacity and concentrating more resources into the construction of high-end production capacity. It is conducive to the overcapacity reduction of the entire industry, and the industry will achieve a fundamental balance between supply and demand.

Second, to reduce invalid competition to a certain extent and improve the international competitiveness of enterprises. The merger of the two ships will effectively reduce internal competition and become the world's top two shipbuilding groups that are comparable to Hyundai Heavy Industry (including Daewoo Shipbuilding), effectively improving international competitiveness.

The third is to improve the entire industrial chain and give full play to complementary and synergistic effects. If the merger is completed, it is expected to promote the professional integration of various types of assets, effectively exert the complementarity and synergy between the two parties, and improve corporate value.

For listed companies, CITIC Construction Investment believes that if the two ships merge, they will reposition the listed company and take over the assets related to the two ships as a professional platform.

Editor: Li Ruoyu Wang Yin