China State Shipbuilding Corporation (CSSC) and China Shipbuilding Heavy Industry Company (CSIC) have received shareholder approval for their merger. The merger proposal was approved by over 90% of shareholders at special meetings held on February 18, 2025. Both companies met a participation threshold of over 51%.
The merger aims to enhance the competitive edge of China’s shipbuilding industry by creating a unified entity. The combined corporation will focus on meeting global demand for eco-friendly and high-performance vessels.
The new entity will integrate shipyards including Jiangnan Shipbuilding (group) Co., Ltd. and Dalian Shipbuilding Heavy Industry Co., Ltd. The merged entity will advance the digitalization of shipbuilding processes through initiatives such as the “Shipbuilding + AI” lab with Fudan University. The corporation reports an order backlog of over 500 ships, with production slots booked through 2029. The merged company projects revenues exceeding 120 billion RMB and assets near 400 billion RMB. The corporation aims to lead in high-end, green, and intelligent ship manufacturing.
China State Shipbuilding Corporation (CSSC) is a major state-owned shipbuilding conglomerate in China, involved in the construction of various types of vessels, including commercial and naval ships.
China Shipbuilding Heavy Industry Company (CSIC) is another large state-owned shipbuilding company in China, specializing in the construction of a wide range of ships and offshore equipment.