On November 24, Changzhou FRP Shipbuilding Co., Ltd. successfully held a signing ceremony with the Fujian Maritime Safety Administration of the People’s Republic of China, formally signing the construction contracts for two 20-meter-class patrol vessels.
The two new patrol vessels contracted this time feature a steel and aluminum welded structure, are equipped with two high-speed diesel engines for propulsion, and are fitted with high-efficiency propellers. They will primarily undertake maritime administrative law enforcement, maintain safe navigation order on the water, organize waterborne life rescue operations, control water area pollution, and investigate and handle water traffic accidents. The addition of these new vessels will significantly enhance the Fujian Maritime Safety Administration’s on-site law enforcement efficiency and rapid response capabilities.
These new vessels are expected to be completed and put into service in 2026, providing strong support for ensuring navigation safety and the protection of the marine ecological environment in Fujian’s waters.
It is understood that Changzhou FRP Shipbuilding Factory was established in 1979 and was merged into Changzhou Lanxiang Machinery Co., Ltd. in 1990. In January 2014, Changzhou FRP Shipbuilding Factory completed its corporate system restructuring; in June 2020, Weichai Group acquired 100% equity of Changzhou FRP Shipbuilding Factory through a competitive bidding process; in October of this year, the transaction for Weichai Heavy Machinery’s acquisition of 100% equity of Changzhou FRP Shipbuilding Co., Ltd. was completed, making Changzhou FRP Shipbuilding a wholly-owned subsidiary of Weichai Heavy Machinery.
The main business of Changzhou FRP Shipbuilding Co., Ltd. is the research, development, and production of various types of vessels under 30 meters, including composite material, steel, and aluminum boats. Its main products are public service vessels, workboats, and leisure craft. In 2022, Changzhou FRP Shipbuilding established a wholly-owned subsidiary, Boxing Shipbuilding Technology (Qingdao) Co., Ltd., to invest in and build the Weichai (Qingdao) Marine Equipment Manufacturing Center project, expanding into the business of vessels over 30 meters and under 80 meters. Currently, the order backlog exceeds 400 million yuan. In the long term, upon full capacity realization of Boxing Company’s Phase I, the annual production is expected to be 30 vessels, with a designed output value of 1 billion yuan.
In 2024, Changzhou FRP Shipbuilding Co., Ltd. achieved an operating revenue of 179 million yuan, an operating loss of 31.7412 million yuan, and a net loss of 33.7375 million yuan. As of the end of February 2025, the total assets of Changzhou FRP Shipbuilding Co., Ltd. were 871 million yuan, and the total liabilities were 650 million yuan.
