Tongfang Jiangxin was renamed Jiangxin Shipbuilding and officially inaugurated

December 27, Jiangxi Jiangxin Shipbuilding Co., Ltd. held a ceremony to celebrate the inauguration. Xin Zhongping, General Manager and Deputy Secretary of the Party Committee of Jiangxi Military Industrialization Group, gave a welcome speech. Zheng De Cai, deputy director of the Jiangxi Provincial State-owned Assets Supervision and Administration Commission, and Chen Yang, deputy secretary of the Hukou County Party Committee and mayor of Hukou County, attended the ceremony and made a speech. Wu Anhui, member of the party committee and deputy general manager of Jiangxi Military Industry Group and chairman of Jiangxin Shipbuilding, presided over the ceremony.

Zheng Decai said that it is a great joy for Jiangxi Jiangxin Shipbuilding to join Jiangxi Military Industrialization Group, which is a state-owned enterprise in Jiangxi Province. Jiangxin Shipbuilding has always been rooted in Jiangxi, the holy land of the revolution, and has made important contributions to the cause of the motherland’s naval defense and local economic construction by strengthening the army and the ship to repay the country. This time, Jiangxin Shipbuilding joined the military industry platform in Jiangxi Province, which is a new chapter in the history of the shipyard’s development.

Zheng De Cai emphasized that Jiangxin shipbuilding is expected to adhere to the drive of scientific and technological innovation, improve the core competitiveness, and continue to build more Jiangxin shipbuilding. Then, Jiangxin shipbuilding should take the initiative to integrate into the national development strategy and Jiangxi Province’s “1269” action plan, through optimization and upgrading, quality and efficiency, to create a green, low-carbon, high-quality and efficient modern shipbuilding industry, and to make a new and greater contribution to the strength of the province’s state-owned assets and the development of the local economy.

Xin Zhongping said, Jiangxi Military Industrial Group and Jiangxin Shipbuilding hand in hand, not only to play Jiangxin Shipbuilding military shipbuilding advantages, to achieve better and faster development of enterprises, but also to bear the strong military mission of Jiangxi Military Industrial Group, ploughing the new industrial track of the new initiatives.

Chen Yang pointed out in his speech, Jiangxin shipbuilding has grown into a “leading” enterprise in the shipbuilding industry in Jiangxi. Jiangxin shipbuilding should effort to develop, go global to broaden the industrial market, to create industry benchmarks for the military manufacturing in Jiangxi Province to stimulate new vitality, cultivate new momentum.

Jiangxi Jiangxin Shipbuilding Co., Ltd. formerly known as Tongfang Jiangxin Shipbuilding Co., Ltd. which is a wholly-owned subsidiary of Tongfang Co., Ltd. and is a medium-sized ship repairing and building enterprise subordinate to China National Nuclear Corporation(CNNC).

Earlier, this shipyard was known as Jiangxin Shipyard under China Shipbuilding Industry Corporation (CSIC), which was founded in 1996. In 2006, the shipyard was renamed as Tongfang Jiangxin Shipbuilding Co. Covering an area of more than 330,000 m2 and a building area of 77,000 m2, the shipyard has several production lines and has the ability to produce and build all kinds of ships below 20,000 tons, with an annual shipbuilding capacity of 100,000 tons. And it has built many types of business vessels, container vessels, dredgers, product tankers, chemical tankers, ro-ro carriers, platform supply vessels, and triple-use workboats.

On June 5, 2023, Tongfang Co. Ltd. announced that it intends to transfer 100% of the equity interests in Tongfang Jiangxin held by the company and the company’s wholly-owned subsidiary Tongfang Industry Co. by way of public listing on the property rights exchange. The first listing price is not less than the appraisal value after filing by CNNC, i.e. RMB 179,101,200 yuan. Tongfang said the move is aimed at further focusing on the main business, recovering non-main business investments and rationalizing the allocation of resources.

On June 19, 2023, Tongfang Jiangxin’s 100% equity interest was listed on the Beijing Public Resources Trading Service Platform at a listing price of RMB 179,101,200. On September 25, Beijing public resources trading service platform released Tongfang Jiangxin Shipbuilding’s 100% equity transaction results announcement shows that Tongfang Jiangxin 100% equity to RMB 179.1012 million transferred to the Jiangxi Provincial Military Industry Holding Group Co.

Data show that Jiangxi Jiangxin Shipbuilding Co., Ltd. has become a wholly-owned subsidiary of Jiangxi Provincial Military Industry Holding Group Co. On October 18, 2023, the former principal officers and investors of Tongfang Jiangxin were changed.

Tongfang Co., Ltd. (capital contribution: RMB 335 million, accounting for 62.6168%) and its wholly-owned subsidiary Tongfang Industry Co., Ltd. (capital contribution: RMB 200 million, accounting for 37.3832%) have withdrawn from the investor list. New investor Jiangxi Provincial Military Industry Holding Group Co., Ltd (capital contribution: 535 million, accounting for 100%). On December 18, 2023, “Tongfang Jiangxin Shipbuilding Co., Ltd.” changed its registration to “Jiangxi Jiangxin Shipbuilding Co.

It is understood that the Jiangxi Provincial Military Industry Holding Group Co., Ltd. was founded on April 28, 2006, with a registered capital of RMB 1 billion and foreign investment in 21 companies. The business scope includes asset management, equity investment, debt investment, real estate development, leasing, property management, material trade, investment consulting services, metal materials sales, machinery and equipment sales and services, consulting services, electronic application products sales, domestic trade.

Yangzijiang Shipbuilding

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