Hengli Heavy Industries, a leading private shipbuilder in China, recently completed a business registration change. According to the National Enterprise Credit Information Publicity System, on August 13, 2026, Hengli Heavy Industries’ registered capital increased from 6.9 billion yuan (approximately $1.023 billion) to 13 billion yuan (approximately US $1.928 billion), with the entire amount contributed by Guangdong Songfa Ceramics Co., Ltd. This represents an increase of approximately 88.4 percent.
Corporate registration records indicate that since its establishment in July 2022, Hengli Heavy Industries has completed three capital increases: in September 2024, its registered capital rose from 500 million yuan to 3 billion yuan—a 500% increase; in September 2025, it increased from 3 billion yuan to 6.9 billion yuan (up 130%); and on August 13, 2026, it rose from 6.9 billion yuan to 13 billion yuan. In total, Hengli Heavy Industries has increased its capital by 12.5 billion yuan (approximately US$1.854 billion) since its inception.
It is understood that the capital increase by Hengli Heavy Industries is linked to its ongoing capacity expansion projects. On July 24, Songfa Ceramicss—the listed entity for Hengli Heavy Industries—announced plans to inject the full 7 billion yuan (with net proceeds of approximately 6.941 billion yuan, or roughly US$1.029 billion) raised through a private placement of A-shares into its second-tier subsidiary via a tiered capital injection process, in order to expand production capacity.
Specifically, Songfa plans to use the proceeds from the offering to inject approximately 6.941 billion yuan into its wholly-owned subsidiary, Hengli Heavy Industries; to inject approximately 6.791 billion yuan into its wholly-owned sub-subsidiary, Hengli Shipbuilding, through Hengli Heavy Industries; and to inject approximately 150 million yuan into Hengli Outfitting. Upon completion of the capital increases, Hengli Heavy Industries’ registered capital will increase from 6.9 billion yuan to 13 billion yuan, Hengli Shipbuilding’s registered capital will increase from 12.4 billion yuan to 19 billion yuan, and Hengli Outfitting’s registered capital will increase from 20 million yuan to 100 million yuan.
According to the National Enterprise Credit Information Publicity System, the most recent changes to the registered capital of Hengli Shipbuilding and Hengli Outfitting both took place on August 10, 2026, with their registered capital increasing from 12.4 billion yuan to 19 billion yuan and from 20 million yuan to 100 million yuan, respectively. With this, the entire net proceeds of 6.941 billion yuan raised by Songfa Co., Ltd. have been injected into the relevant companies.
The announcement discloses that the funds will be used for the integrated green and intelligent high-end shipbuilding project, the supporting upgrade project for green shipbuilding hull block assembly at Hengli Shipbuilding, and the supporting No. 3–6 wharf project for the green high-end shipbuilding project; Hengli Shipbuilding is the implementing entity for the first two projects, while Hengli Shipbuilding and Hengli Outfitting are the implementing entities for the third project.
Upon the successful implementation of the projects funded by the capital raise, Hengli Heavy Industries will possess a total of 22 shipbuilding berths—comprising 10 berths for vessels under 200,000 DWT and 12 berths for vessels exceeding 200,000 DWT—enabling the rapid fulfillment of its existing orderbook and meeting future market expansion needs.
Since 2026, Hengli Heavy Industries has secured orders for over 250 new vessels, spanning a comprehensive range of types—including container ships, bulk carriers, oil tankers, and gas carriers—with delivery schedules extending through 2030, thereby establishing itself among the world’s largest private shipbuilding enterprises.