On July 13th, Songfa Co., Ltd. (松发股份) released its first earnings forecast since completing its acquisition of Hengli Heavy Industries. The company is expecting a significant turnaround in its financial performance, with net profit for the first half of 2025 projected to be between ¥580 million and ¥700 million, a notable recovery from previous losses.
This impressive shift in financial performance follows the successful strategic acquisition of Hengli Heavy Industries, which was facilitated through a shell listing. Hengli’s advanced shipbuilding and marine equipment manufacturing capabilities have provided Songfa Co., Ltd. with a solid foundation for its strategic transition into the high-end shipbuilding sector.
Key factors driving this transformation include:
· Advanced shipyard and dock facilities, with the capability to simultaneously construct four 300,000 DWT VLCCs (Very Large Crude Carriers)
· Annual production capacity of 180 marine engines, supporting dual-fuel systems such as LNG, methanol, ammonia, and LPG
· A comprehensive production chain from core components to full vessel construction, catering to the growing demand for sustainable maritime solutions
Hengli Heavy Industries' acquisition allows Songfa Co. Ltd. to expand into high-value shipbuilding, marking a significant shift in its business portfolio. Hengli's solid order backlog, including flagship vessels such as the 300,000 DWT VLCC oil tankers, positions it well for continued growth in the global maritime industry.
Moving forward, Songfa Co. Ltd. is supporting Hengli Heavy Industries’ growth with two key projects:
· Hengli Shipbuilding (Dalian) Green High-End Equipment Manufacturing Base
· International Shipbuilding R&D and Design Center (Phase I)
These projects are expected to enhance Hengli’s production capabilities and foster continued technological innovation in the shipbuilding sector.
As Hengli Heavy Industries strengthens Songfa Co. Ltd.’s presence in the global maritime market, this acquisition underscores the growing importance of high-end shipbuilding and green technologies in the evolving industry landscape.
by Xinde Marine News Chen Yang
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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