On October 9, 2025, China-headquartered shipbuilder Wuhu Shipyard held a grand ceremony with Wah Kwong Transport Holdings Ltd. (Wah Kwong) and Yingxing Financial Leasing (Anhui) Co., Ltd. to mark the establishment of their joint venture and the signing of new shipbuilding contracts. Wah Kwong and Yingxing jointly established Huaxing Shipping Co., Ltd., and placed an order with Wuhu Shipyard for a total of 12 64,500 DWT Ultramax bulk carriers in a 4+4+4 batch.
This innovative partnership forges a deeply integrated “shipping company + shipyard + industrial leasing” business model, leveraging Wah Kwong’s global operational capabilities, Wuhu Shipyard’s manufacturing expertise, and Yingxing Financial Leasing (Anhui)’s financial capabilities. This model will smooth out industry cyclical fluctuations and enhance overall operational efficiency and market competitiveness through batch construction and green design.
This collaboration also marks a significant step forward for Wuhu Shipyard in advancing its integrated “shipping + manufacturing + finance” business model, further solidifying its leading position in the bulk carrier construction market.
As a backbone shipbuilding enterprise in China with a 125-year history, Wuhu Shipyard has actively promoted the ecological development towards the river, the sea and the industrial cluster, and has entered a new stage of high-quality development.
In recent years, Wuhu Shipyard has completed its strategic “1+2+N” base layout, with the Weihai base’s intelligent production line fully operational and its European office operating efficiently, establishing a comprehensive, integrated development model spanning rivers and seas. The 12 Ultramax bulk carriers contracted for this project will leverage Wuhu Shipyard’s strengths in environmentally friendly shipbuilding R&D and intelligent manufacturing to create a series of low-energy, technologically advanced, and cost-effective green intelligent bulk carriers, actively leading the global trend of green shipping transformation.
Wuhu Shipyard is accelerating its transformation from a traditional shipbuilder to a modern shipping ecosystem service provider. Its subsidiaries—Anhui Haizhi Equipment Research Institute, Yingxing Financial Leasing (Anhui), Tri Water New Energy Technology, and Zhiyuan Supply Chain —collectively form a comprehensive industrial chain ecosystem spanning R&D, manufacturing, finance, operations and services.
Yingxing Financial Leasing (Anhui), as the financial platform under Wuchuan Shipyard, has achieved over RMB 6 billion in leasing assets within just one and a half years since its establishment. It established a Hong Kong subsidiary in June 2025 and expanded into global shipping hubs such as Singapore and Europe, providing robust financial support for this collaboration.
Zhang Zhao, Party Secretary and Chairman of Wuhu Shipyard, said at the signing ceremony, “This cooperation is not only the starting point for a win-win situation for all three parties, but also a model for the deep integration of China’s shipbuilding industry and shipping finance. We will use Huaxing Shipping as a platform to continuously promote shipbuilding and operation, the application of green technologies, and the expansion of international markets, to jointly build a modern fleet with global competitiveness.”