On July 18, Guangdong Songfa Ceramics Co., Ltd. (*ST Songfa) issued an announcement that its subsidiary Hengli Shipbuilding (Dalian) Co., Ltd. received a total of RMB 260 million (approximately US$36 million) in asset-related government infrastructure cost sharing funds on July 18, 2025.
According to the announcement, the infrastructure cost-sharing funds received this time are government subsidies related to assets and are recognized as deferred income. The specific accounting treatment and the impact on the company’s 2025 annual profit and loss and assets shall be subject to the results confirmed by the audit institution after the annual audit.
This is the second government subsidy received by Hengli Shipbuilding (Dalian) in recent times. The total amount of the two government subsidies is RMB 380 million (approximately US$53 million). A month ago, *ST Songfa announced that Hengli Shipbuilding received a total of RMB 120 million (approximately US$17 million) in government subsidies related to assets on June 16, 2025.
Hengli Heavy Industry has been getting good news lately. On the evening of July 17, *ST Songfa released an “Announcement on the Signing of a Major Contract for Daily Operations by a Subsidiary.”
The announcement disclosed that Hengli Shipbuilding (Dalian) recently signed a contract with a single ship company affiliated with Eastern Pacific Shipping Pte. Ltd. (hereinafter referred to as “EPS”) for the construction of two 157,000 DWT LNG dual-fuel crude oil tankers, which are expected to be delivered in the first half of 2028.
According to the announcement, the 157,000 DWT LNG dual-fuel crude oil tanker signed this time is a mainstream large-scale crude oil tanker in the world, with the characteristics of large load, low fuel consumption, and excellent environmental performance.
This ship type adopts Hengli Shipbuilding’s own design, and its comprehensive economic performance indicators have reached the international advanced level. It is an oil tanker that conforms to the latest international crude oil tanker design concept and meets the current international shipping market’s demand for green and low-carbon transportation. It fully reflects Hengli Shipbuilding’s independent innovation capabilities and technical strength in the field of high-end ship design.