The merger of China State Shipbuilding Corporation (CSSC) and China Shipbuilding Industry Company limited (CSIC), two major listed shipbuilding companies, has been approved by the China Securities Regulatory Commission.
On the evening of July 18, CSSC and CSIC issued an announcement stating that the CSSC’s absorption and merger with CSIC has been approved for registration by the China Securities Regulatory Commission.
On July 18, the China Securities Regulatory Commission issued the “Approval on the Registration of CSSC Absorbing and Merging CSIC”.
The main contents of the reply include:
It is predicted that after the merger of CSSC and CSIC, the total asset scale of the surviving company will exceed RMB 400 billion (approximately US$55.72 billion), and it will become the world’s largest flagship shipbuilding listed company leading the world in asset scale, revenue scale, and number of ship orders in hand.
According to the performance forecasts recently disclosed by the two companies, CSSC expects its net profit in the first half of 2025 to be between RMB 2.8 billion and RMB 3.1 billion, an increase of 98.25% to 119.49% year-on-year. CSSC said that the price of civilian ships delivered during the reporting period increased year-on-year, the construction cost was properly controlled, and the operating gross profit increased year-on-year.
CSIC’s net profit for the first half of 2025 is between RMB 1.5 billion and RMB 1.8 billion, up 181.73% to 238.08% year-on-year. CSIC said that the number of civil ship products delivered during the reporting period increased significantly, operating income increased accordingly, and operating performance improved significantly year-on-year.
