Recently, Songfa Co., Ltd., the listed entity of Hengli Heavy Industries, which just completed the removal of its special treatment status from the delisting risk list on April 20, released its first quarter report for 2026: It achieved operating revenue of 8.888 billion yuan (approximately $1.301 billion) and net profit attributable to shareholders of the listed company of 1.093 billion yuan (approximately $160 million), both showing significant year-on-year growth. This is the first periodic report after the removal of the special treatment status, and the strong performance and continued high growth in shipbuilding orders demonstrate the company’s stable operating trend.
While maintaining steady growth in its financial data, Hengli Heavy Industries is also making comprehensive efforts in order acquisition, production delivery, and capacity expansion, and high-speed growth in its full-year performance is expected.
Hengli Heavy Industries secured impressive orders across multiple shipbuilding categories, including container ships, bulk carriers, oil tankers, and gas carriers, achieving its best performance for the same period in history. In the first quarter, Hengli Heavy Industries signed contracts for a total of 108 new building projects. These included 76 tankers (54 VLCCs, 18 Suezmax tankers, and 4 LRII product tankers), 12 container ships, 16 bulk carriers, and 4 cryogenic vessels. The company’s diversified and high-end order structure, encompassing container ships, bulk carriers, oil tankers, and gas carriers, demonstrates the high regard global shipowners have for Hengli Heavy Industries’ shipbuilding capabilities.
More noteworthy is that Hengli Heavy Industries’ order volume in the first quarter has already approached the level of 115 vessels required for the entire year of 2025, with production plans already scheduled until 2030. The two major Greek shipowners, Dynacom and Capitol, have 43 vessels under construction and 30 vessels on order backlog. This continued investment from shipping giants fully demonstrates Hengli Heavy Industries’ outstanding strength in product quality, delivery time, and after-sales service, and also signifies the continued improvement of Chinese shipbuilders’ competitiveness in the international high-end market.
The core advantages of batch construction and rapid delivery have become increasingly apparent, and the shipbuilding capacity has reached a world-leading level. In January of this year, Hengli Heavy Industries’ No. 1 dock successfully launched four 306,000 DWT VLCCs on the same day, and No. 3 dock successfully launched six 82,000 DWT bulk carriers on the same day. On April 22, just three months later, No. 1 dock again successfully launched two 306,000 DWT VLCCs and three 82,000 DWT bulk carriers simultaneously, fully demonstrating the company’s world-leading shipbuilding capabilities in batch construction, rapid delivery, and large scale. As of the end of the first quarter, Hengli Heavy Industries had successfully delivered 14 vessels, averaging one vessel delivered every 10 days, marking the continuous optimization of its production organization capabilities and quality management system.
With continued investment, Hengli Heavy Industries’ Phase III capacity expansion project is progressing rapidly and is about to go into production. In recent years, Hengli Heavy Industries has been steadily and rapidly releasing its capacity. Following the full operation of its “Ocean Factory” and “Future Factory,” it has invested 13.5 billion yuan to launch the Phase III project, which includes three major shipbuilding capacity expansion projects. Currently, the construction of Dock No. 4 is in full swing.
Once all projects reach full production capacity, Hengli Heavy Industries will become one of the world’s largest single-building shipbuilding bases with the most complete supporting facilities.
Hengli Heavy Industries stated that its performance in the first quarter of 2026 is a concentrated reflection of the company’s commitment to a development path focused on “high-end, intelligent, and green” development. Looking ahead, Hengli Heavy Industries will continue to deepen its presence in the global shipping market, driven by customer needs and technological innovation, continuously improving the quality of its shipbuilding and services, and striving to become the most trusted partner for global shipowners.