On August 4th, both China State Shipbuilding Corporation (CSSC) and China Shipbuilding Industry Company (CSIC) released the “Prompt Announcement on Continuous Suspension of Stocks”.
The announcement disclosed that CSIC intends to be absorbed and merged with CSSC through the issuance of A-shares. The transaction has been approved for registration by the China Securities Regulatory Commission. Following the completion of the merger, CSIC will no longer be an independent entity and will be deregistered.
According to relevant regulations, CSIC may apply to the Shanghai Stock Exchange for voluntary termination of listing. The company’s shares will be suspended from trading continuously from August 13, 2025 (the date on which dissenting shareholders declare their cash options) until the listing is terminated and trading will not resume.
According to the announcements released by both CSSC and CSIC on the evening of July 18, the China Securities Regulatory Commission issued the “Approval on the Registration of CSSC to Absorb and Merge CSIC”, agreeing to CSSC’s registration application to absorb and merge CSIC with 3.053 billion newly added shares.
Upon completion of the merger, CSIC will be delisted and its legal status will be revoked. CSSC will succeed to and assume all of CSIC’s assets, liabilities, businesses, personnel, contracts, and all other rights and obligations.
This transaction is reportedly the largest merger and acquisition transaction ever undertaken by an A-share listed company. Based on estimated 2024 financial data, the combined CSSC’s total assets will exceed 400 billion yuan (approximately US$55.68 billion) and operating revenue will exceed 130 billion yuan (approximately US$18.096 billion), leading the world in terms of asset size, operating revenue, and order backlog. The combined CSSC will consolidate the assets, orders, and technical expertise previously dispersed across the two listed companies into a single, more powerful “capital container,” transforming it into the world’s largest listed shipping company.
This transaction is reportedly the largest merger and acquisition transaction ever undertaken by an A-share listed company. Based on estimated 2024 financial data, the combined CSSC’s total assets will exceed 400 billion yuan (approximately US$55.68 billion) and operating revenue will exceed 130 billion yuan (approximately US$18.096 billion), leading the world in terms of asset size, operating revenue, and order backlog. The combined CSSC will consolidate the assets, orders, and technical expertise previously dispersed across the two listed companies into a single, more powerful “capital container,” transforming it into the world’s largest listed shipping company.