Yangzijiang Shipbuilding Group, China’s largest private shipbuilding enterprise, has completed its stake acquisition in Zhoushan Tsuneishi Shipbuilding, a wholly-owned subsidiary of Japan’s Tsuneishi Group, according to the company's release.
Under the agreement, Yangzijiang acquired a 34% equity stake in Zhoushan Tsuneishi Shipbuilding through a cash payment from its internal resources.
Zhoushan Tsuneishi Shipbuilding, founded in 2003, specializes in constructing ships under 100,000 tons. The shipyard’s annual production capacity is about 25 vessels ranging from 50,000 to 80,000 tons, with key assets including slipways, dry docks, and a floating crane.
The acquisition is expected to enhance cooperation in capital, technology, and supply chain resources between both companies.
Yangzijiang Shipbuilding Group had a record year in 2024, reporting a 10.1% increase in operating revenue to RMB26.5 billion and a 61.7% rise in net profit to RMB6.6 billion.
The company secured 126 new vessel orders valued at US$14.6 billion, and as of December 2024, held orders for 245 vessels worth US$24.4 billion.