On the morning of August 19th, China Cssc Holdings Limited (600150.SH) resumed trading from market open after a trading suspension, opening 6.44% higher. At 10:40 AM, China Cssc Holdings Limited was trading at 39.98 yuan per share, up 3.84%. By market close, the stock declined 0.31% to 38.38 yuan per share.
Prior to this, China Cssc Holdings Limited had been suspended from trading on August 13th. On August 12th, the company's closing price was 38.50 yuan per share. Over the four-month period from April 18th to present, China Cssc Holdings Limited's stock price has gained over 30%.
According to previous announcements, China Cssc Holdings Limited will absorb and merge with China Shipbuilding Industry Company Limited through a stock swap arrangement, issuing A-shares to all China Shipbuilding Industry Company Limited shareholders. China Cssc Holdings Limited serves as the absorbing party, while China Shipbuilding Industry Company Limited is the absorbed party. China Cssc Holdings Limited will issue A-shares to all China Shipbuilding Industry Company Limited shareholders in exchange for their holdings in China Shipbuilding Industry Company Limited.
Upon completion of this stock swap absorption merger, China Shipbuilding Industry Company Limited will delist and have its corporate status terminated, while China Cssc Holdings Limited will inherit and assume all assets, liabilities, businesses, personnel, contracts, and other rights and obligations of China Shipbuilding Industry Company Limited.
On the evening of August 18th, China Shipbuilding Industry Company Limited announced that the company had submitted an application for voluntary delisting to the Shanghai Stock Exchange on August 14th, 2025, and received notification from the exchange on August 18th. According to the notification, the Shanghai Stock Exchange has decided to accept the company's voluntary delisting application.
According to previous announcements, in this transaction, China Cssc Holdings Limited's swap price was determined at 37.84 yuan per share based on the average trading price over the 120 trading days before the pricing reference date, while China Shipbuilding Industry Company Limited's swap price was set at 5.05 yuan per share. The exchange ratio between China Shipbuilding Industry Company Limited and China Cssc Holdings Limited is 1:0.1335, meaning each share of China Shipbuilding Industry Company Limited can be exchanged for 0.1335 shares of China Cssc Holdings Limited.
The total transaction value for China Cssc Holdings Limited's stock swap absorption merger of China Shipbuilding Industry Company Limited amounts to 115.15 billion yuan.
Also on the evening of August 18th, China Cssc Holdings Limited disclosed that the company had published implementation announcements regarding dissenting shareholder purchase rights for the merger transaction on August 5th, 2025, with follow-up reminder announcements on August 13th and August 15th respectively.
The results of China Cssc Holdings Limited's dissenting shareholder purchase rights application showed that during the application period, a total of 3 shareholders submitted applications for 10,500 shares. After verification by the company based on valid application principles and removal of invalid applications, the number of dissenting shareholders with valid applications was 0, with 0 shares under valid applications.
As of the close on August 19th, China Cssc Holdings Limited's market capitalization stood at 171.7 billion yuan.
On July 11th, the company released its performance forecast, expecting to achieve net profit attributable to shareholders of 2.8 billion to 3.1 billion yuan in the first half of the year, representing a year-over-year increase of 98.25% to 119.49%. Non-recurring net profit is expected to reach 2.635 billion to 2.935 billion yuan, up 119.89% to 144.93% year-over-year.
According to a research report, as of May 2025, China Cssc Holdings Limited holds civilian ship orders for 322 vessels totaling 24.61 million deadweight tons, with production capacity scheduled through 2029. Looking ahead, "the merger of the northern and southern shipbuilding groups will create synergistic effects, and China's shipbuilding industry chain's comprehensive competitiveness will continue to strengthen."
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