Over 1 billion yuan! Dajin Heavy Industry has secured another major shipbuilding order. Shipbuilding remains a key business to develop.

[Introduction] Dajin Heavy Industry has signed large shipbuilding orders again since 2026, with a total value of over 1 billion yuan in new contracts

On the evening of May 11, Dajin Heavy Industry announced that recently, the company signed two “Bulk Carrier Construction Contracts” with a subsidiary of a Greek shipowner, with a total contract value of approximately $153 million (equivalent to about 1.04B yuan).

This is a new case of Chinese shipbuilding companies securing large orders. According to data from the Ministry of Industry and Information Technology, in the first quarter of 2026, China’s shipbuilding completion volume, new order volume, and backlog orders led the world.

For example, by the end of March 2026, China’s backlog orders reached 322.3M DWT, a year-on-year increase of 43.6%, accounting for 69.8% of the global market share. Some large shipyards’ orders are already scheduled to be delivered three years later.

Dajin Heavy Industry is applying for a Hong Kong stock IPO. As of the close on May 11, the company’s A-shares traded at 85 yuan per share, up 2.43%, with a total market value of 54.21 billion yuan.

Continuously Signing Large Shipbuilding Orders

The announcement shows that Dajin Heavy Industry will design, build, and deliver a total of 2 bulk carriers of 211,000 DWT (deadweight tonnage) for a Greek shipowner’s subsidiary, with phased delivery scheduled for 2029.

The announcement states that the Greek shipowner is a mainstream Greek shipping and ship management company, mainly operating dry bulk cargo, containers, and oil tankers.

Dajin Heavy Industry announced that the signing of these contracts marks further recognition of the company’s shipbuilding capabilities by international clients.

Since 2025, Dajin Heavy Industry has continuously signed multiple shipbuilding contracts, including in 2025 signing orders with a Korean and a Norwegian shipowner, for ships of 23,000 DWT heavy wind turbine installation vessels and 43,000 DWT motorship semi-submersible barges, both planned for delivery in 2027.

On April 24, 2026, Dajin Heavy Industry announced that recently, the company signed multiple “Bulk Carrier Construction Contracts” with a Norwegian shipowner’s subsidiary and a Greek shipowner’s subsidiary, with total contract values of approximately $294 million (about 2.02B yuan) and $297 million (about 2.04B yuan), respectively.

Dajin Heavy Industry will design, build, and deliver a total of 4 bulk carriers of 210,000 DWT for a Norwegian shipowner’s subsidiary, phased delivery from 2028 to 2029; and 4 bulk carriers of 210,000 DWT for a Greek shipowner’s subsidiary, phased delivery from 2028 to 2029.

Shipbuilding Remains a Key Business Focus

New Progress in Hong Kong Stock IPO

Dajin Heavy Industry announced that the performance of the “Bulk Carrier Construction Contracts” is expected to have a positive impact on the company’s future operating results.

In 2025 and the first quarter of 2026, Dajin Heavy Industry’s net profit attributable to the parent was 1.1B yuan and 435 million yuan, respectively, representing year-on-year increases of 132.82% and 88.19%.

Shipbuilding remains a key business area for Dajin Heavy Industry. The announcement shows that the company’s performance growth in 2025 was mainly driven by the rapid increase in the number and value of offshore wind power delivery projects.

Dajin Heavy Industry’s products and services have extended from offshore wind foundation equipment manufacturing to fields such as deep-sea special transportation, ship design and construction, and wind power port operation.

Dajin Heavy Industry is applying for a Hong Kong stock IPO. On the evening of May 11, the company announced that on May 8, the board of directors approved the “Proposal on Revising the Articles of Association of the Company (after the issuance and listing of H-shares),” and revised the “Articles of Association (Draft).”

Previously, Dajin Heavy Industry announced that the IPO application in Hong Kong was mainly due to the rapid growth of overseas business in recent years, with a significant increase in contribution to performance, requiring further strengthening of the global strategic layout to meet the needs of continuous overseas business development and quality improvement.