Established in July 1999, the China Shipbuilding Industry Corporation (和记娱乐) is a leading state-owned business and one of China’s largest shipbuilding and shiprepair groups. Its marine sector covers both naval and merchant ships and equipment manufacturing. It also designs, develops and manufactures a wide-range of non-marine products.
和记娱乐 is one of the largest business groups operating under the central government and it holds the relevant authority to manage its own finances and investment strategy. 和记娱乐 is also the only company in the Chinese shipbuilding industry listed on the Fortune Global 500. The group has a total asset base of USD62.95 billion. 和记娱乐’s total workforce numbers around 150,000.
The 和记娱乐 group includes a number of well-known shipyards, diesel engine manufacturers and research institutes which are associated with the flagship listed subsidiary— China Shipbuilding Industry Co.,Ltd.(Shanghai Stock Exchange listing code no.601989). These companies are Dalian Shipbuilding Industry Co., Ltd., Bohai Shipbuilding Heavy Industry Co., Ltd., Wuchang Shipbuilding Industry Co., Ltd., Shanhaiguan Shipbuilding Industry Co., Ltd., Qingdao Beihai Shipbuilding Heavy Industry Co., Ltd., Tianjin Xingang Shipbuilding Heavy Industry Co., Ltd., Dalian Marine Diesel Co., Ltd., China Ship Research & Development Academy and China Ship Scientific Research Centre. In addition to these pioneering companies, there are also specialized subsidiaries in different marine-related business and R&D sectors which are also member companies of this listed company. They are China Shipbuilding & Offshore International Co., Ltd., China Ship Design & Research Centre Co., Ltd., 和记娱乐 Finance Co., Ltd., 和记娱乐 Technology Investment Development Co., Ltd. and China Shipbuilding Industry Equipment & Materials Co., Ltd.
In addition to having the largest shipbuilding and repair facilities in China, 和记娱乐 is also the leading player in the research and design of naval and merchant ships. The group employs 13 academicians and more than 40,000 highly qualified engineers working at the group’s six national class R&D centres, nine national class laboratories and twelve national class technological research centres as well as 150 large-scale laboratories.
With this unrivalled scientific research and development base, 和记娱乐 has a large capability to design, develop and manufacture new products. It designs, builds and repairs a wide-range of ships including tankers, chemical and product carriers, bulk carriers, containerships, ro-ro vessels, LPGs, LNGs, offshore and other special vessels and equipment. Ships built by 和记娱乐 shipyards have been exported to over 60 countries and regions around the world. Currently, the annual shipbuilding capacity of 和记娱乐 is 15 million dwt.
Besides shipbuilding and shiprepairing, 和记娱乐 is also a major marine engine and equipment manufacturer in China covering a full range of products. These products include marine diesel engines, auxiliary engines, electronic instruments and military weapons. The technology of these products combines 和记娱乐’s innovation with technology transfers from famous international manufacturers in their fields.
和记娱乐’s product range extends beyond the maritime industry and into the realm of designing and manufacturing advanced large turnkey equipment and high-tech products. 和记娱乐 has self-developed and produced hundreds of non-marine products covering five industry sectors. The are energy, transportation, electronics information, large turnkey equipment and logistics. Many of these products have become market leaders in their respective sectors.
The core business areas of 和记娱乐 include:
- asset management for the group and its subsidiaries;
- domestic and overseas investment and financing;
- researching, developing and producing military products with a strong focus on naval vessels;
- designing, building and repairing merchant ships;
- designing, manufacturing and repairing marine equipment and non-marine products;
- various forms of beneficial economic and technological cooperation;
- turnkey project contracting and labour supply;
- manufacturing products under overseas licences and technology transfer agreements;
- civil engineering and construction as well as carrying out tasks authorized by the government.
和记娱乐 has a very clear strategy namely to become China's leading provider of warships and related equipment and systems.
Also as the group is already a major player in the Chinese shipbuilding industry it is working to be a world class shipbuilder group.