On October 8, Weichai Heavy Machinery Co., Ltd. (hereinafter referred to as “Weichai Heavy Machinery”) issued the “Announcement on the Completion of the Acquisition of 100% Equity of Changzhou FRP Shipyard Co., Ltd”.
An announcement disclosed that Weichai Heavy Machinery has completed industrial and commercial registration and equity transfer for its acquisition of 100% of Changzhou FRP Shipyard from controlling shareholder Weichai Holding Group Co., Ltd., for a total value of RMB 492 million (approximately US$69 million). With this acquisition, Changzhou FRP Shipyard has officially become a wholly-owned subsidiary of Weichai Heavy Machinery.
According to the announcement, the transaction was approved at the Company’s third extraordinary general meeting of shareholders on September 1, 2025. Weichai Heavy Machinery signed the equity transfer agreement with Weichai Group on August 6, 2025.
According to public information, Changzhou FRP Shipyard is a leading domestic company in the field of small and medium-sized high-performance boats. It specializes in the research and development and production of various types of official, work, and leisure boats under 30 meters in length, including composite, steel, and aluminum materials. The company is a National High-Tech Enterprise and a Jiangsu Province Specialized and New Enterprise, holding over 70 patents.
In 2022, the company established a wholly-owned subsidiary, Boxing Ship Technology (Qingdao) Co., Ltd., and invested in the construction of the Weichai (Qingdao) Marine Equipment Manufacturing Center project, expanding its business into boats over 30 meters and under 80 meters.
Weichai Heavy Machinery’s primary business involves the development, manufacturing, and sales of engines and power integrated systems for marine propulsion and power generation applications, as well as generator sets and power integrated systems.