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Producer Manufacturing

China Shipbuilding Industry Co., Ltd.

Company Background

China Shipbuilding Industry Corporation (CSIC) is China's state-owned shipbuilder. In addition to civilian vessels, such as freight carriers and oil tankers, CSIC also builds submarines and escort vessels, torpedoes and other weapons, as well as conducts offshore drilling. It is one of China's top 10 military companies, helping to research and make about 80% of the Chinese navy's main equipment.

CSIC was spun off from China State Shipbuilding Corporation in July 1999. It has about 150,000 employees, including China's scientific and technological elites and about 40,000 engineers. It has six national research and development centers, and nine national-class laboratories. Its annual shipbuilding capacity is 15 million tons. It exports liquefied natural gas and liquefied petroleum gas carriers to more than 60 countries.

Its subsidiary, Dalian Shipbuilding Industry, refurbished China's first aircraft carrier, the Liaoning, which was bought from Ukraine. Some market watchers say CSIC is preparing to build the country's second domestic aircraft carrier. CSIC is definitely playing a role in China's maritime advances.

Its other subsidiaries include Bohai Shipbuilding Heavy Industry, Wuchang Shipbuilding Industry Group, Shanhaiguan Shipbuilding Industry and Qingdao Beihai Shipbuilding Heavy Industry.

On May 18 2015, CSIC announced that Chairman Hu Wenming, who only assumed the role in March, had resigned. The reason for his resignation is unknown, but it may have been to do with President Xi Jinping's anti-graft campaign.

Business Summary

China Shipbuilding Industry Co., Ltd. engages in the design, manufacture, and distribution of ships. It operates through the following business divisions: Shipbuilding and Support, Ship Remodeling and Repair, Naval Equipment, Offshore Engineering, and Others. The Shipbuilding and Support division designs, constructs, and upgrades various ships such as bulk carriers, chemical and oil tankers, and container vessels. The Ship Remodeling and Repair division modifies ship designs and restores ships. The Naval Equipment division provides warship diesel engine, shipboard weapons and launchers, communications and navigation equipment, and rugged computers. The Offshore Engineering division engages in the construction of offshore platforms and floating production structure. The Others division offers non-ship products and services such as wind turbine accessories, nuclear power plant emergency generators, and railway equipment and vehicles. The company was founded on March 18, 2008 and is headquartered in Beijing, China.

Financial Highlights

Dec 2018 CNYUSD
Revenue44,139.32M6,670.58M
Gross Profit3,509.80M530.42M
Operating income-1,520.56M-229.79M
Income before tax-325.72M-49.22M
Net income672.75M101.67M
EBITDA472.40M71.39M
Diluted EPS0.030.00
Dividends Per Share0.000.00
Total Assets186,198.22M27,120.06M
Total liabilities96,864.90M14,108.52M
Total equity84,435.98M12,298.23M
Operating cash flow1,466.41M221.61M
Currency in CNYCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 60,454.03M 59,591.38M 51,729.11M 38,419.74M 44,139.32M
Gross Profit 6,103.35M 2,897.72M 3,505.15M 3,817.60M 3,509.80M
Operating income 755.53M -4,281.86M -1,039.86M -2,004.82M -1,520.56M
Income before tax 2,661.94M -2,946.37M 973.23M 186.34M -325.72M
Net income 2,123.36M -2,621.48M 698.03M 837.63M 672.75M
EBITDA 2,972.36M -1,777.92M 1,250.87M 167.15M 472.40M
Diluted EPS 0.12 -0.14 0.03 0.04 0.03
Dividends Per Share 0.03 0 0 0.01 0.00
Total Assets 207,989.61M 207,637.71M 184,282.93M 195,448.71M 186,198.22M
Total liabilities 139,273.03M 142,252.03M 121,318.28M 106,886.37M 96,864.90M
Total equity 59,977.37M 57,000.85M 56,569.66M 63,733.88M 84,435.98M
Operating cash flow 1,952.15M -178.80M -2,577.19M 826.44M 1,466.41M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 9,811.25M 9,481.34M 7,786.35M 5,684.88M 6,670.58M
Gross Profit 990.53M 461.04M 527.60M 564.88M 530.42M
Operating income 122.61M -681.26M -156.52M -296.64M -229.79M
Income before tax 432.01M -468.78M 146.49M 27.57M -49.22M
Net income 344.60M -417.09M 105.06M 123.94M 101.67M
EBITDA 482.39M -282.87M 188.28M 24.73M 71.39M
Diluted EPS 0.01 -0.02 0.00 0.00 0.00
Dividends Per Share 0.00 0 0 0.00 0.00
Total Assets 33,525.08M 31,975.74M 26,517.43M 30,013.62M 27,120.06M
Total liabilities 22,448.91M 21,906.49M 17,457.12M 16,413.75M 14,108.52M
Total equity 9,667.53M 8,778.00M 8,140.10M 9,787.14M 12,298.23M
Operating cash flow 316.82M -28.44M -387.92M 122.28M 221.61M

Valuation Measures

Dec 2018
PER141.66
ROA0.35%
ROE0.90%
Operating margin-3.44%
Profit margin1.52%

Key executives

  • General Manager & Director: Liang Wang
  • CFO, Board Secretary & Deputy GM: Zu Hui Yao
  • Securities Representative: Jin Wang

Shareholders

  • China State-Owned Assets Supervision & Admn Commission (54.7%)
  • China Securities Finance Corp. Ltd. (2.9%)
  • China Investment Corp. (Investment Management) (1.4%)
  • China Asset Management Co., Ltd. (1.1%)
  • China Huarong Asset Management Co., Ltd. (Invt Port) (1.1%)
  • Fullgoal Fund Management Co., Ltd. (0.7%)
  • China Southern Asset Management Co., Ltd. (0.6%)
  • ICBC Credit Suisse Asset Management Co., Ltd. (0.5%)
  • Guotai Asset Management Co., Ltd. (0.2%)
  • The Vanguard Group, Inc. (0.2%)

Contact Details

  • Website:http://www.csicl.com.cn
  • Address: Building 1, Zhuyu Intl Center, No. 9 Shouti South Road, Beijing, 100044, China
  • Phone: +86.10.8850.8596

Related Companies

  • China Shipbuilding Industry Co. Ltd /Subsidiary 2/
  • Wuchang Shipbuilding Industry Group Co. Ltd.
  • Guangxi Wuzhou Shipyard
  • CSIC Technology Investment Development Co., Ltd.
  • CSIC Yuanzhou (Beijing) Technology Co., Ltd.
  • Guangxi Zhongnan Huaxing Machinical Equipment Co. Ltd.
  • Qingdao Haixi Heavy-Duty Machinery Co. Ltd.
  • Luoyang Sunrui Rubber Technology Co., Ltd.
  • Xiamen Sunrui Marine Coatings Co., Ltd.
  • Sunrui Marine Environment Engineering Co., Ltd.
  • CSIC Financial Co. Ltd.
  • Bohai Shipping Heavy Industry Co., Ltd.
  • Dalian Shipbuilding Industry Design & Research Ins Co. Ltd.
  • Dalian Shipyard Group Co. Ltd. /Bus Ops/
  • China Shipbuilding Industry Corp. /Military Equipment Ops/
  • Dalian Marine Diesel Co., Ltd.
  • Chongqing Hengshan Machinery Co. Ltd.
  • Yichang Jiangxia Ship Machinery Co. Ltd.
  • Zhongnan Equipment Co. Ltd.
  • Shanxi Pingyang Industry Machinery Co. Ltd.
  • Wuchang Shipbuilding Industry Co. Ltd.
  • Wuchang Shipyard
  • Chongqing ChangZheng Heavy Industry Co. Ltd.
  • China Shipbuilding & Offshore International Co., Ltd.
  • Shanhaiguan Shipbuilding Industry Co. Ltd.
  • Qingdao Beihai Shipbuilding Heavy Industry Co. Ltd.
  • Bohai Shipbuilding Industry Co. Ltd.
  • Guangxi Guijiang Shipyard
  • Beijing Great Wall Radio Factory
  • Shanxi State-Owned Diesel Plants

Competitors

  • KOREA SHIPBUILDING & OFFSHORE ENGINEERING CO.,LTD.
  • EnerSys
Last Updated on 30 Mar, 2020

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