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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 2019 CNYUSD
Revenue37,790.12M5,469.01M
Gross Profit2,973.91M430.38M
Operating income-2,290.20M-331.44M
Income before tax405.97M58.75M
Net income501.16M72.52M
EBITDA-496.21M-71.81M
Diluted EPS0.020.00
Dividends Per Share00
Total Assets182,651.46M26,221.55M
Total liabilities91,151.73M13,085.79M
Total equity85,699.68M12,303.09M
Operating cash flow1,471.71M212.98M
Currency in CNYCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 59,591.38M 51,729.11M 38,419.74M 44,434.28M 37,790.12M
Gross Profit 2,897.72M 3,505.15M 3,817.60M 3,548.73M 2,973.91M
Operating income -4,281.86M -1,039.86M -2,004.82M -1,507.12M -2,290.20M
Income before tax -2,946.37M 973.23M 186.34M -333.86M 405.97M
Net income -2,621.48M 698.03M 837.63M 658.38M 501.16M
EBITDA -1,777.92M 1,250.87M 167.15M 542.12M -496.21M
Diluted EPS -0.14 0.03 0.04 0.03 0.02
Dividends Per Share 0 0 0.01 0.00 0
Total Assets 207,637.71M 184,282.93M 195,448.71M 189,761.83M 182,651.46M
Total liabilities 142,252.03M 121,318.28M 106,886.37M 98,818.71M 91,151.73M
Total equity 57,000.85M 56,569.66M 63,733.88M 86,018.17M 85,699.68M
Operating cash flow -178.80M -2,577.19M 826.44M 1,533.60M 1,471.71M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 9,481.34M 7,786.35M 5,684.88M 6,715.15M 5,469.01M
Gross Profit 461.04M 527.60M 564.88M 536.30M 430.38M
Operating income -681.26M -156.52M -296.64M -227.76M -331.44M
Income before tax -468.78M 146.49M 27.57M -50.45M 58.75M
Net income -417.09M 105.06M 123.94M 99.49M 72.52M
EBITDA -282.87M 188.28M 24.73M 81.92M -71.81M
Diluted EPS -0.02 0.00 0.00 0.00 0.00
Dividends Per Share 0 0 0.00 0.00 0
Total Assets 31,975.74M 26,517.43M 30,013.62M 27,639.11M 26,221.55M
Total liabilities 21,906.49M 17,457.12M 16,413.75M 14,393.10M 13,085.79M
Total equity 8,778.00M 8,140.10M 9,787.14M 12,528.68M 12,303.09M
Operating cash flow -28.44M -387.92M 122.28M 231.76M 212.98M

Valuation Measures

Dec 2019
PER238.18
ROA0.26%
ROE0.58%
Operating margin-6.06%
Profit margin1.32%

Key executives

  • Chairman & General Manager: Liang Wang
  • Chief Financial Officer & Deputy General Manager: Zu Hui Yao
  • Securities Representative: Jin Wang

Shareholders

  • China State-Owned Assets Supervision & Admn Commission (54.8%)
  • China Securities Finance Corp. Ltd. (2.9%)
  • China Investment Corp. (Investment Management) (1.4%)
  • China Huarong Asset Management Co., Ltd. (Invt Port) (1.1%)
  • Fullgoal Fund Management Co., Ltd. (0.7%)
  • China Asset Management Co., Ltd. (0.7%)
  • Bosera Asset Management Co., Ltd. (0.5%)
  • ICBC Credit Suisse Asset Management Co., Ltd. (0.5%)
  • Harvest Fund Management Co., Ltd. (0.3%)
  • 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

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  • Huludao Bochuan Heavy Industry Ship Design & Research Co
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  • Chongqing Hongjiang Machinery Co., Ltd.
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Competitors

  • EnerSys
Last Updated on 23 Nov, 2020

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