On September 16, China State Shipbuilding Corporation Limited (hereinafter referred to as “CSSC”) officially listed 3.053 billion newly issued shares on the Shanghai Stock Exchange, marking the formal conclusion of CSSC’s absorption merger of China Shipbuilding Industry Company limited (CSIC).
According to previous reports, in this share exchange absorption merger, the share exchange price for CSSC is RMB 37.59 per share, and that for CSIC is RMB 5.032 per share. Correspondingly, the share exchange ratio between CSIC and CSSC is 1:0.1339, meaning that every 1 share of CSIC can be exchanged for 0.1339 shares of CSSC. The number of additional shares issued through this share exchange absorption merger amounts to 3.053 billion.
Upon completion of this transaction, CSIC will be delisted and its legal status revoked. CSSC will assume and succeed to all of CSIC’s assets, liabilities, business operations, personnel, contracts, and all other rights and obligations.
Among them, in accordance with the Measures for the Administration of Material Asset Restructuring of Listed Companies and other relevant regulations, the 1.45 billion shares of CSSC (issued in this share exchange absorption merger) — which were obtained via share exchange by the participating investors in this transaction — shall not be transferred within 6 months from the date of completion of CSSC’s share issuance in this share exchange absorption merger.
In September 2024, CSSC announced that it was planning a share-swap merger with CSIC, whereby CSSC would issue A-shares to all CSIC shareholders. On July 4, 2025, the Shanghai Stock Exchange approved CSSC’s merger with CSIC.
Following the integration, CSSC’s asset scale will exceed RMB 400 billion yuan, making it the world’s largest and most comprehensive listed shipbuilding company.