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What will be the annual sales of the merged CSSC and CSIC for the fiscal year 2024?
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China State Shipbuilding Corporation•CSSC•China Shipbuilding Industry Corporation•CSIC•China•Beijing
Resolution / Starting Odds
Above CNY 120 billion • 25%
CNY 100-120 billion • 25%
CNY 80-100 billion • 25%
Below CNY 80 billion • 25%
Official financial statements released by the merged entity
Story
China's CSSC and CSIC Merge to Form World's Largest Shipbuilder with CNY270 Billion Market Cap
Sep 5, 2024, 05:34 PM
China State Shipbuilding Corporation (CSSC) and China Shipbuilding Industry Corporation (CSIC), two of China's largest state-owned shipbuilders, announced a merger to form the world's largest shipbuilder. The combined entity will have a market cap of nearly CNY270 billion (USD38 billion), total assets of nearly 400 billion yuan (USD56 billion), and annual sales of over 100 billion yuan. The merger, executed through a share swap, aims to reduce competition, better serve the military, and address global vessel shortages. This consolidation is part of Beijing's strategy to strengthen its shipbuilding industry amid rising protectionism.
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