On July 22, Chishan Group acquired Shandong Baibuting Shipbuilding Co., Ltd., a large shipyard located in Rongcheng, Shandong Province, China, and reorganized it into Shandong Fulton Shipbuilding Co., Ltd.
On July 22, the equity transfer and comprehensive handover meeting of Shandong Baibuting Company was held. Representatives from Baibuting Company and Chishan Group attended the meeting as the two parties involved in the handover. This marks a solid step forward for Chishan Group in its journey to optimize its industrial layout, and also injects new momentum into the development of the regional shipbuilding industry.
Chishan Group said that as a large-scale leading fishery enterprise with a 35-year history, the group will give full play to its advantages in management, capital, etc., efficiently integrate and upgrade resources, and comprehensively enhance the comprehensive strength and core competitiveness of the new company in the fields of shipbuilding, maintenance and supporting services, so as to revitalize this historic shipyard.
According to public information, Shandong Baibuting Shipbuilding Co., Ltd. was established on April 26, 2006. Its predecessor was Rongcheng Haida Shipbuilding Co., Ltd., which had more than 50 years of shipbuilding history. With a registered capital of 70 million yuan, it is an enterprise mainly engaged in shipbuilding, repair, and deep-sea fishing.
The shipyard is located in Lidao Town, Rongcheng City, Weihai City, Shandong Province, along both sides of Lidao Bay. The south bank covers an area of approximately 300,000 square meters, while the north bank covers an area of approximately 100,000 square meters. It occupies a natural bay with a coastline of 2,000 meters and has the right to use 200,000 square meters of water area in Lidao Bay, providing favorable conditions for the construction of large shipyards and inclined slipways.
According to the official website, Chishan Group was established in 1988. Its business scope covers six major industries: marine fishing, construction engineering, real estate development, industrial manufacturing, tourism services, and financial services. Its total assets amount to 15 billion yuan, it has 12,000 employees with an annual sales revenue nearly 10 billion yuan.
In terms of marine fishing, Chishan Group currently operates a fleet of 45 various types of offshore vessels, including trawlers, squid jiggers, and lighted purse seiners, as well as one 2,000-ton fishing support vessel and two 5,000-ton fishing support vessels. The group can operate in the North Pacific, Southwest Atlantic, Indian Ocean, Argentine fishing grounds, and Peruvian fishing grounds, achieving an annual total catch of over 60,000 tons. Its comprehensive economic benefits have consistently ranked among the top in the same industry in Shandong Province for several consecutive years.