Chongqing Chuandong Shipbuilding Heavy Industry Co., Ltd. (“Chuandong Shipbuilding”), a subsidiary of China State Shipbuilding Corporation (CSSC), was finally sold during its fourth listing for transfer—with the minimum asking price slashed by approximately 160 million yuan (approximately $24 million at the current exchange rate).
According to the Chongqing Public Resource Trading Network, the transfer of a 100% equity stake in Chuandong Shipbuilding, along with creditor’s rights valued at 595.29 million yuan, was concluded on November 9 for a total transaction price of 433.966411 million yuan (approximately $65.06 million). Specifically, the 100% equity stake in Chuandong Shipbuilding was transferred for 1 yuan, while the creditor’s rights—comprising 165.29 million yuan held by CSSC and 430 million yuan held by CSSC Finance, totaling 595.29 million yuan—were transferred at a base price of 433.96641 million yuan.
It is understood that this transfer project was listed four consecutive times on the Chongqing United Assets and Equity Exchange. The initial asking price was 595.290001 million yuan (approximately $89.234 million). In each of the subsequent three rounds, the asking price was reduced by 10%—dropping to 535.761001 million yuan, 482.184901 million yuan, and finally 433.966411 million yuan—at which point the transaction was concluded.
Compared to the initial asking price, the cumulative reduction for this “equity plus debt” package from Chuandong Shipbuilding amounts to approximately 27%, or a total decrease of about $24 million.
According to the transfer announcement, the equity in Chuandong Shipbuilding is being offered by two wholly state-owned or state-controlled enterprises under the CSSC—namely, CSSC Chongqing Shipbuilding Industry Co., Ltd. and China Shipbuilding & Offshore International Co., Ltd.—which hold 84.7884% and 15.2116% of the target company’s equity, respectively. The equity transfer has undergone internal review within the group and received formal approval from CSSC. All existing shareholders have provided written waivers of their preemptive rights, and the ownership of the equity is clear and free from any disputes.
The 2025 audit report for Chuandong Shipbuilding shows that, as of December 31, 2025, the company recorded an operating revenue of 305.8757 million yuan, an operating profit of -41.7756 million yuan, and a net profit of -47.0192 million yuan. Its total assets stood at 356.7940 million yuan, total liabilities at 739.7229 million yuan, and owner’s equity at -382.9289 million yuan.
The shipyard covers an area of 1.54 million square meters and features 3,000 meters of Yangtze River coastline, six slipways for vessels ranging from 5,000 to 10,000 deadweight tons (DWT), and three outfitting quays capable of accommodating 10,000-ton-class vessels. It houses a 100,000-square-meter, intelligent indoor shipbuilding production line. The facility possesses the capability to independently design and construct various types of specialized civil and military vessels under 15,000 DWT, with an annual production capacity of 12 specialized vessels and 100,000 tons of large-scale steel structural components.
The company’s primary vessel portfolio includes 3,000 to 15,000-ton stainless-steel chemical tankers, various types of government/public-service vessels, multi-purpose container ships, offshore engineering vessels, sightseeing/tourist vessels, and a new generation of luxury cruise vessels for the Yangtze River. It ranks among the world’s leading shipbuilders in terms of the number of small-to-medium-sized stainless-steel chemical tankers currently under construction.