Mao predicted, affected by the economic crisis, the weaker shipyards' financial conditions are getting worse. Mao thought the national stimulus policies are biased in favour of large state-owned shipbuilding enterprises but not private and small ones, so there will be a merger climax impending for the shipbuilding industry in the second half of this year. Baibuting Group will keep looking for opportunities to acquire small and medium-sized domestic shipyards.
Baiguting Group started in real estate and it was the biggest real estate development enterprises in Wuhan. It entered the shipping industry in the last threee years, starting by buying a yard in Shandong.