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Shipping Information | Chinese Ships Prepaid at least 2.7 billion yuan Last Year
Feb 05,2024
Chinese ships made a pre-profit of at least 2.7 billion yuan last year: 14 times more than the same period last year.
China Ship IC Data Chart
In 2023, the global new shipbuilding market as a whole will maintain a good development trend, and China Shipbuilding is expected to double-digit net profit last year.
On January 29, China Shipbuilding Industry Co., Ltd. (China Shipbuilding, 600150.SH) issued a pre-increase announcement of its 2023 annual results. It is expected that the net profit of the parent company in 2023 will be between 2.7 billion yuan and 3.2 billion yuan, an increase of 1470.95 to 1761.87 year-on-year.%. It is expected to realize the return of the mother deduction in 2023 unless the net profit is between -0.5 billion yuan and 0 yuan, compared with -2.748 billion yuan in the same period last year.
According to the third quarterly report, in the first three quarters of last year, China Shipbuilding achieved revenue of 49.653 billion billion yuan, an increase of 28.8 percent over the same period last year, and achieved a net profit of 2.561 billion billion yuan, an increase of 74.82 percent over the same period last year. Based on this calculation, the net profit of China Shipbuilding in the fourth quarter of last year is expected to be 0.139 billion to 0.639 billion yuan, which is expected to turn losses.
As for why the profit after deduction is negative, China Shipbuilding said on December 29, 2023 on the investor interaction platform that the shipbuilding industry is a typical cyclical industry with a long span of delivery cycles,Non-net profitThe negative is mainly due to the fact that most of the current delivery orders are low-cost orders until 2021.
Overall, China's ship performance has shown a good recovery in recent years. According to wind data, in terms of full-year results, performance in 2022 and the past decade has been at historically low levels for a long time. Last year, China's shipping revenue hit a record high in the first three quarters, and net profit was at an all-time high.
China Shipping Annual Results
As for the main reason for the expected increase in performance in the current period, the announcement shows that the company's non-recurring profit and loss in the current period was about 3.2 billion yuan, compared with 2.921 billion yuan in the same period last year, due to the disposal of non-monetary asset exchange gains and losses by its subsidiaries on the offshore platform and the receipt of government subsidies. At the same time, the global new shipbuilding market as a whole maintained a good development trend in 2023; focusing on the annual production task indicators, the company strengthened production management and control, improved production efficiency, and operating income increased significantly year-on-year, exceeding the annual task target. Under the comprehensive influence of the above factors and the low performance index of the company in the same period of last year, the company's performance in the current period increased significantly compared with the same period of last year.
According to news recently released by the China Shipbuilding Industry Association, China's shipbuilding capacity utilization monitoring index (CCI) was 894 points in 2023, an increase of 130 points compared with 2022, an increase of 17.0 percent over the same period last year. Throughout the year, CCI showed a quarterly growth trend. In the fourth quarter, the low level of the comprehensive freight index rose 17.5 percent month-on-month, the new ship price index continued to rise 3 points month-on-month, hand-held ship orders increased 3.3 percent month-on-month, focusing on monitoring the full production tasks of shipbuilding enterprises, the main business income of enterprises increased 8.3 percent month-on-month, leading to a significant increase in synchronous indicators. At the end of the year, the CCI rose further to 894 points, the highest level since 2012. Looking forward to 2024, the global economic growth rate is expected to slow down, will face many challenges and uncertainties, the world shipping and new shipbuilding market may fall back, but shipping companies have sufficient orders, capacity utilization is good, overall, CCI will remain at a high level of volatility in 2024.
China Shipbuilding Corporation is a listed company in the core military and civilian products of China Shipbuilding Corporation. It integrates China Shipbuilding Corporation's large-scale shipbuilding, ship repair, electromechanical equipment, marine engineering and other businesses. Its wholly-owned and controlled subsidiaries include Jiangnan Shipbuilding, Waigaoqiao Shipbuilding, Guangzhou Shipbuilding International and other businesses.Zhongchuan Chengxi.
In recent years, China Shipbuilding Corporation has adjusted its product structure, focusing on the integration of resources in its main industry, and has made great contributions to ultra-large container ships, LNG dual-fuel ships, large cruise ships, luxury ships, and other industries.Ro-Ro passenger shipPCTC ship (car ro-ro ship) and other new high-efficiency, green, energy-saving, environmental protection and technical complex high-end product field transformation.
According to a survey of Chinese ships by surging news reporters in December last year, the company will focus on high-quality customers in the future, closely follow and judge the trend of the international shipping market, and receive good orders and large orders. Continue to promote the transformation and upgrading of orders to medium and high-end products, and actively strive for the main construction of ship-type bulk orders, expand the promotion of dual-fuel ship-type, consolidate and enhance the market share of high-end ship-type. In terms of ship repair operations, we will continue to dig deep into the market, keep a close eye on the market orders for refitted ships, increase the total amount of ship repair, speed up the optimization of customer structure, and increase the proportion of double-high ships. In addition, after the development of orders towards the middle and high end, although the average dwt per ship is lower than before, it will bring about an increase in revenue.
Chinese shipping executives also said at the third quarter performance presentation at the end of November last year that the company is currently full of orders and has been scheduled to the end of 2027. Since June 2021, the new ship price index has risen significantly. At present, the company's relatively low-priced ship orders until 2021 are in the process of gradual delivery and liquidation, and relatively high-priced orders are expected to gradually begin to be delivered. It is expected that the global new shipbuilding capacity will increase under the order-driven, and the company is also concerned about the information about the restart of some production capacity, but the growth of production capacity is affected by a variety of complex factors such as the economic environment, and the shipbuilding industry is capital-intensive, technology-intensive and manpower-intensive.
(Source: Shipping Online)
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