Dajin Heavy Industry Co., Ltd. (Dajin Heavy Industry), which has recently attracted widespread attention in the shipbuilding industry, has once again received important news.
On May 28, Dajin Heavy Industry issued an announcement regarding the publication of its H-share prospectus, price range for H-share issuance, and public offering of H-shares in Hong Kong: The company is currently working on the application for the issuance of overseas listed shares (H-shares) and listing on the main board of the Hong Kong Stock Exchange (hereinafter referred to as “this issuance and listing”). The H-shares issued in this issuance are expected to be listed and begin trading on the Hong Kong Stock Exchange on June 5, 2026.
According to the announcement, the basic offering of H shares by Dajin Heavy Industry in this global offering is 86,965,800 shares (subject to the exercise and rejection of the offering adjustment rights and over-allotment options). Of these, the initial arrangement is to offer 8,696,600 shares in Hong Kong (subject to reallocation), accounting for approximately 10% of the total global offering; and to offer 78,269,200 shares internationally (subject to reallocation and the exercise of the offering adjustment rights and over-allotment options), accounting for approximately 90% of the total global offering.
Subject to the full exercise of the offering adjustment option and the over-allotment option, the maximum number of H shares to be issued in Dajin Heavy Industry’s global offering will be 115,012,100 shares, with a maximum offering price of HK$66.40 per share. The Hong Kong public offering of Dajin Heavy Industry’s H shares will commence on May 28, 2026, and is expected to close on June 2, 2026. The offering price is expected to be announced before June 3, 2026 (inclusive).
It is reported that Dajin Heavy Industry submitted its application for listing to the Hong Kong Stock Exchange on September 29, 2025. On March 31, 2026, Dajin Heavy Industry received the “Notification of Filing for Overseas Issuance and Listing of Dajin Heavy Industry” issued by the China Securities Regulatory Commission (CSRC), confirming the filing information for Dajin Heavy Industry’s issuance and listing. On April 8, Dajin Heavy Industry updated its application for listing to the Hong Kong Stock Exchange. On April 30, the Listing Committee of the Hong Kong Stock Exchange held a listing hearing to review Dajin Heavy Industry’s application for listing. On May 19, Dajin Heavy Industry published the post-hearing information set on the Hong Kong Stock Exchange website.
The issuance size will not exceed 15% of the total share capital after the issuance. After deducting relevant issuance expenses, the proceeds will be used entirely for the business development of Dajin Heavy Industry, and may be used for (including but not limited to): cutting-edge technology innovation and product research and development and capacity expansion in the global marine engineering field, expansion of global markets and businesses, strategic investment and acquisition, construction of new energy projects, supplementation of working capital and other general corporate purposes.
Founded in 2000 and listed on the Shenzhen Stock Exchange in 2010, Dajin Heavy Industry is the first listed company in China’s wind turbine tower industry and has now become a leading global wind power equipment manufacturer.
As a giant exporter of offshore wind power foundation equipment, Dajin Heavy Industry is seizing the industry opportunities presented by high global new shipbuilding prices and strong demand for offshore engineering vessels. It is developing specialized offshore engineering vessels such as self-propelled deck transport vessels, semi-submersible vessels, heavy-lift vessels, floating docks, and wind power maintenance vessels, while simultaneously accelerating its entry into the commercial shipbuilding market. Dajin Heavy Industry’s main shipbuilding base is Panjin Dajin Marine Engineering Co., Ltd., established in 2022.
Since April 2026, Dajin Heavy Industry has undertaken orders for 10 210,000-tonnage bulk carriers and 2 multipurpose heavy-lift vessels, totaling approximately US$897 million.
The 10 bulk carriers are from Danaos (4 vessels) in Greece, Seatankers Management (4 vessels) in Norway, and Cape Shipping (2 vessels) in Greece, with a total cost of approximately US$741 million. Delivery is expected in 2029.
The 2 multi-purpose heavy-lift vessels were ordered by JUMBO Marine in the Netherlands, with a total cost of US$156 million. Delivery is expected in 2028 and 2029. This marks Dajin Heavy Industries’ first order for offshore installation vessels in the European market, representing a significant step in the company’s integrated strategy of “equipment manufacturing + shipbuilding + offshore engineering” and solidifying its European business foundation.
Dajin Heavy Industry stated that the core positioning of its shipbuilding business is not simply to undertake ship orders, but to support the independent control of the entire global wind power industry chain with its independent shipbuilding capabilities, achieving multiple values such as strategic supply chain protection, integrated customer service, and steady growth in the shipbuilding business.
Regarding this IPO, Dajin Heavy Industry stated that this move aims to further solidify its global strategic layout, streamline the entire process of “R&D, manufacturing, shipping, and delivery” for its marine engineering business both domestically and overseas, enhance its comprehensive competitiveness in the international market, and thus meet the needs of its overseas business for continued development and efficiency improvement.