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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, railway equipment and vehicles. The company was founded on March 18, 2008 and is headquartered in Beijing, China.

Financial Highlights

Dec 2021 CNYUSD
Revenue39,291.99M6,092.38M
Gross Profit2,448.31M379.62M
Operating income-2,647.83M-410.55M
Income before tax17.75M2.75M
Net income219.90M34.09M
EBITDA-597.06M-92.57M
Diluted EPS0.000.00
Dividends Per Share0.000.00
Total Assets180,139.34M28,264.46M
Total liabilities88,826.83M13,937.22M
Total equity85,307.63M13,385.05M
Operating cash flow-1,281.11M-198.64M
Currency in CNYCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 38,419.74M 44,434.28M 37,947.50M 34,646.25M 39,291.99M
Gross Profit 3,817.60M 3,548.73M 3,008.72M 3,076.80M 2,448.31M
Operating income -2,004.82M -1,507.12M -2,289.44M -3,099.83M -2,647.83M
Income before tax 186.34M -333.86M 415.79M -517.33M 17.75M
Net income 837.63M 658.38M 501.16M -481.19M 219.90M
EBITDA 167.15M 542.12M -487.40M -1,209.99M -597.06M
Diluted EPS 0.04 0.03 0.02 -0.02 0.00
Dividends Per Share 0.01 0.00 0 0 0.00
Total Assets 195,448.71M 189,761.83M 182,937.86M 172,494.58M 180,139.34M
Total liabilities 106,886.37M 98,818.71M 91,406.64M 80,922.76M 88,826.83M
Total equity 63,733.88M 86,018.17M 85,564.08M 85,201.66M 85,307.63M
Operating cash flow 826.44M 1,533.60M 1,445.55M 11,685.54M -1,281.11M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 5,684.88M 6,715.15M 5,491.79M 5,019.57M 6,092.38M
Gross Profit 564.88M 536.30M 435.42M 445.76M 379.62M
Operating income -296.64M -227.76M -331.33M -449.10M -410.55M
Income before tax 27.57M -50.45M 60.17M -74.95M 2.75M
Net income 123.94M 99.49M 72.52M -69.71M 34.09M
EBITDA 24.73M 81.92M -70.53M -175.30M -92.57M
Diluted EPS 0.00 0.00 0.00 -0.00 0.00
Dividends Per Share 0.00 0.00 0 0 0.00
Total Assets 30,013.62M 27,639.11M 26,262.66M 26,376.12M 28,264.46M
Total liabilities 16,413.75M 14,393.10M 13,122.39M 12,373.88M 13,937.22M
Total equity 9,787.14M 12,528.68M 12,283.63M 13,028.17M 13,385.05M
Operating cash flow 122.28M 231.76M 209.20M 1,693.00M -198.64M

Valuation Measures

Dec 2021
PER439.58
ROA0.12%
ROE0.25%
Operating margin-6.73%
Profit margin0.55%

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 (51.6%)
  • China Cinda Asset Management Co., Ltd. (Investment Company) (3.9%)
  • China Structural Reform Fund Corp. Ltd. (1.7%)
  • China Orient Asset Management Co. Ltd. (Investment Management) (1.5%)
  • China Life Asset Management Co., Ltd. (1.5%)
  • Guotai Asset Management Co., Ltd. (0.5%)
  • Fullgoal Fund Management Co., Ltd. (0.2%)
  • GF Fund Management Co., Ltd. (0.1%)
  • Huatai-PineBridge Fund Management Co., Ltd. (0.1%)
  • Bosera Asset Management Co., Ltd. (0.0%)

Contact Details

  • Website:http://www.csicl.com.cn
  • Address: Building 1, Zhuyu Intl Center, 9 Shouti South Road, Beijing, 100044, China
  • Phone: +86.10.88475267

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Competitors

  • KOREA SHIPBUILDING & OFFSHORE ENGINEERING CO.,LTD.
  • China Shipbuilding Industry Group Power Co., Ltd. Class A
Last Updated on 12 Aug, 2022

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