1. Strategic level.
(1), Korean shipbuilding industry.
Since China successfully became the world's largest shipbuilding country in 2012, South Korea has ranked second in order volume for six consecutive years, behind China. However, in 2018, the number of orders from Korean shipbuilding companies surpassed China's after a lapse of seven years and returned to the top spot.
On March 8, 2019, South Korea's Hyundai Heavy Industries and Korea Development Bank officially signed an agreement to acquire Daewoo Shipbuilding. According to the agreement, Korea Development Bank will transfer all its 55.7% shares in Daewoo Shipbuilding to Hyundai Heavy Industries. Data from VesselsValue shows that Hyundai Heavy Industries and Daewoo Shipbuilding have 259 and 78 orders on hand respectively. After the merger, the two Korean shipbuilding groups will collectively occupy about 20% of the global market share, becoming the world's largest shipbuilding company.
(2), South ship and North ship.
As of the end of 2018, China Shipbuilding Industry Corporation, which focuses on ship design and system supporting, has a presence in the entire ship industry chain. It currently has 48 industrial enterprises, 28 scientific research institutes, and 5 listed companies. , achieving operating income of 315 billion yuan and total profit of 8.86 billion yuan.
CSSC, which has relatively outstanding construction capabilities, has two major production bases in Shanghai Changxing and Guangzhou Longxue, 31 industrial enterprises, 9 scientific research institutes, and 4 listed companies; "Fortune" data It shows that CSSC’s revenue in 2018 was US$29.8 billion, with a profit of US$370 million, and it had approximately 70,000 employees.
North and South Shipbuilding has gradually grown into a world-class shipbuilding enterprise. Due to strategic factors, the merger of North and South Shipbuilding has become an inevitable choice.
(3) The general trend of mergers and reorganizations of central enterprises
The mergers and reorganizations of central enterprises began at the end of 2014. The former China South Locomotive and Rolling Stock Corporation and the former China CNR issued announcements to reorganize and merge into China CRRC; in 2015 In May, the former China Power Investment Group and the former State Nuclear Power Technology Co., Ltd. merged into the State Power Investment Group; in 2017, the former Guodian Group and the former Shenhua Group were reorganized into the State Energy Investment Group. In August 2019, China Light Industry Corporation and China National Craft (Group) Corporation were integrated into China Poly Group Corporation and became a wholly-owned subsidiary of China Poly Group.
At present, the state is taking more measures to merge central enterprises as a whole and merge upstream and downstream businesses with relatively high business overlap. Or allowing one central enterprise to directly become a wholly-owned subsidiary of another central enterprise can reduce the resistance to the restructuring of central enterprises. The reorganization of central enterprises is not to reduce the number of households, but to pay more attention to the connotation and effectiveness of the reorganization. Since the reorganization, the efficiency of resource allocation has been effectively improved, operating costs have been significantly reduced, the benefits of related enterprises have been greatly improved, and the industry status and voice have been significantly improved.
The state is promoting the reorganization at the central enterprise group level, promoting the reorganization of coal and electricity, heavy equipment manufacturing, steel and other fields, exploring the integration of overseas assets, pooling resources to form synergy, and better exerting synergistic effects. The state encourages central enterprises to actively carry out mergers and acquisitions and reorganizations around development strategies, focusing on acquiring key technologies, core resources, well-known brands, market channels, etc., to increase industrial concentration and promote quality and brand improvement. Support central enterprises to concentrate resources on advantageous enterprises and their main businesses through asset reorganization, equity cooperation, asset replacement, free transfer, strategic alliances, joint development, etc.
There is no suspense about the merger of central enterprises, it is just a matter of time.
2. Industry downturn
Since the 2008 financial crisis, the global shipping market has continued to be sluggish, with supply exceeding demand and global overcapacity evident; many domestic shipbuilding companies have gone bankrupt due to broken capital chains. , reorganization. After several years of reshuffle, orders from the domestic shipbuilding industry have gradually been concentrated in four companies. According to data from VesselsValue, a third-party organization, the top four domestic shipbuilding companies in terms of number of orders (civilian ships) are CSSC, China Shipbuilding Industry Corporation, COSCO Shipping Heavy Industry and Yangtze River Shipbuilding Industry, with 291, 143, 129 and 95 ships respectively. . According to a research report by Guojin Securities, the above-mentioned four backbone shipbuilding groups have a combined national market share of more than 90%.
If the North and South Shipyards are successfully reorganized and merged this time, China's shipbuilding industry will change from the previous four-power competition to a new pattern of "one super" and "two strong". One supernatural being is the "Chinese God Ship".
It can be predicted that after the reorganization is completed, the "China Shenship" will not only have the most complete shipbuilding industry chain layout, but also have three major production bases in Dalian, Shanghai, and Guangzhou; its products will also cover almost all civilian ship types, and will undertake the construction of the Chinese Navy's most important ships. Most ships.
The two powers have their own ways of survival. The parent company of COSCO Shipping Heavy Industries is China Ocean Shipping Group. As of the end of last year, COSCO Shipping's fleet size was approximately 1,285 ships, with a comprehensive shipping capacity of over 100 million deadweight tons, making it the world's largest comprehensive shipping company.
Yangzijiang Shipbuilding Industry is currently the largest private shipbuilding enterprise in my country, with a net profit of approximately 17.3 billion yuan in the past six years. In October last year, Yangzijiang Shipbuilding took the lead in establishing a joint venture with Japan's Mitsui to jointly develop LNG ships and other ship types to enter the high value-added ship market.
3. Develop new industries
The business scope of China Shipbuilding Industry Corporation includes "marine equipment industry" and "power and electromechanical equipment industry". China Shipping Equipment, a subsidiary of China Shipbuilding Industry Corporation, has been deeply involved in the wind power field for many years.
The full name of China Shipping is "China Shipbuilding Industry Corporation Offshore Wind Power Co., Ltd.", its predecessor is China Shipbuilding Industry (Chongqing) Offshore Wind Power Equipment Co., Ltd., which was established on January 9, 2004. China Shipbuilding Industry Corporation is a platform construction unit of the National Offshore Wind Power Engineering Technology Research Center. It is a high-tech enterprise specializing in the development of wind power equipment, its system assembly and wind farm engineering and technical services. It is precisely because of China Marine Engineering's background as China Shipbuilding Industry Corporation that China Marine Engineering has become my country's only innovative high-tech company within the same group that has a complete wind power equipment development industry chain.
According to the latest rankings of the China Wind Energy Association (CWEA), China Shipping ranked 7th in the ranking of newly installed capacity of wind turbine manufacturers in the Chinese market in 2018, and in late June this year, China Marine Equipment's first self-built offshore wind power project, the CSIC Zhuanghe Offshore Wind Farm Site II 300MW Project, has officially started construction.
In addition, China Shipbuilding Industry Corporation is also actively deploying in the field of hydrogen energy.
As early as the end of 2017, China Shipbuilding Industry Corporation held a special working meeting on the hydrogen energy industry. At that time, the meeting stated that "the party group of the group company regards the development of the hydrogen energy industry as an important direction for transformation, upgrading and structural adjustment and to cultivate industrial development." The strategic field of new kinetic energy is of great significance.”
In March this year, China Shipbuilding Industry Corporation and State Power Investment Corporation signed a strategic cooperation agreement. The two major groups will develop projects in nuclear energy, wind power, photovoltaics, hydrogen energy and other industries. Carry out all-round and in-depth cooperation in various fields. At the end of June 2019, China Shipbuilding Industry Corporation’s hydrogen energy equipment manufacturing project started construction in Handan Hydrogen Energy Industrial Park.
At the first meeting between senior executives of the two major "China Shenship" groups before the news of this reorganization was confirmed, China Shipbuilding Industry Corporation expressed the hope that the two parties would further strengthen communication and exchanges and accelerate the development of military products, large cruise ships, and clean energy. Practical cooperation in fields such as , smart ocean, intelligent manufacturing, and internationalization to achieve complementary advantages and mutual benefit. CSSC also expressed the hope that both parties would carry out practical cooperation in more areas.
Part of the above information comes from the Internet. After integration, I hope it will be helpful to you. Thanks.