Recently, Shanghai Zhenhua Heavy Industries (Group) Co., Ltd. (ZPMC) announced that it has acquired a 67% stake in Jiangsu Qidong Daoda Heavy Industry through a capital increase, becoming the largest shareholder of Daoda Heavy Industry. Against the backdrop of a continuously improving offshore engineering equipment market, integrating Daoda Heavy Industry's offshore engineering and shipbuilding resources provides ample competitiveness for the company to continue expanding and strengthening its offshore engineering equipment business.

 

　　Founded in September 2007, Daoda Heavy Industry is located in the Qidong Shipbuilding Industrial Park in Jiangsu, with a superior geographical location and hydrological conditions suitable for shipbuilding and offshore engineering equipment construction. The shipyard covers a total area of 1,250.2 mu and possesses hardware resources such as slipways, docks, and wharves for developing offshore engineering and shipbuilding operations, as well as talent resources in design and production. It has the capacity to produce various types of 300,000-tonne deadweight bulk carriers, special-purpose vessels, and offshore platforms, and its production resources strongly complement the company's offshore engineering development. At the same time, Daoda Heavy Industry's advanced offshore engineering and shipbuilding production system will also effectively help the company establish an advanced, specialized shipbuilding model.

 

　　At present, the global shipbuilding industry is undergoing deep adjustment in the aftermath of the financial crisis. The company's acquisition of Daoda Heavy Industry's shipbuilding resources through a capital increase will effectively address the shortcomings in hardware resources for its offshore engineering development, support the layout and adjustment of the company's offshore engineering bases, mitigate development risks in its offshore engineering and shipbuilding segment, and lay a solid foundation for the company's steady, sustained, and healthy development in the offshore engineering equipment market.